| Summary of Segment Reporting Information |
Below are the sales and
operating profit by segment for the three and six months ended
June 29, 2013 and June 30, 2012 and a reconciliation of
segment operating profit to earnings before income taxes. Operating
profit is the net sales less cost of products sold and other
operating expenses excluding interest and corporate expenses. Cost
of products sold and other operating expenses are directly
identifiable to the respective segment.
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Six Months
Ended |
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|
Three Months
Ended |
|
| (Dollars in
thousands) |
|
June 29,
2013 |
|
|
June 30,
2012 |
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|
June 29,
2013 |
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|
June 30,
2012 |
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|
Sales
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Aerospace
|
|
$ |
140,345 |
|
|
$ |
124,424 |
|
|
$ |
68,676 |
|
|
$ |
62,423 |
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Test Systems
|
|
|
4,547 |
|
|
|
5,703 |
|
|
|
2,157 |
|
|
|
2,566 |
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|
Less Intersegment
Sales
|
|
|
(92 |
) |
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— |
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— |
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— |
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|
4,455 |
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|
5,703 |
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|
2,157 |
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|
2,566 |
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Total Consolidated
Sales
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|
$ |
144,800 |
|
|
$ |
130,127 |
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$ |
70,833 |
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|
$ |
64,989 |
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Operating Profit (Loss) and
Margins
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Aerospace
|
|
$ |
25,735 |
|
|
$ |
22,781 |
|
|
$ |
11,447 |
|
|
$ |
10,903 |
|
|
|
|
18.3 |
% |
|
|
18.3 |
% |
|
|
16.7 |
% |
|
|
17.5 |
% |
|
Test Systems
|
|
|
(2,135 |
) |
|
|
(2,393 |
) |
|
|
(610 |
) |
|
|
(1,318 |
) |
|
|
|
(47.0 |
)% |
|
|
(42.0 |
)% |
|
|
(28.3 |
)% |
|
|
(51.4 |
)% |
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Total Operating
Profit
|
|
|
23,600 |
|
|
|
20,388 |
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|
|
10,837 |
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|
|
9,585 |
|
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|
|
16.3 |
% |
|
|
15.7 |
% |
|
|
15.3 |
% |
|
|
14.7 |
% |
|
Deductions from Operating
Profit
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Interest Expense
|
|
|
480 |
|
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|
529 |
|
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|
262 |
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|
266 |
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Corporate Expenses and
Other
|
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|
4,558 |
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|
3,347 |
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|
|
2,857 |
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|
|
1,809 |
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Income Before Income
Taxes
|
|
$ |
18,562 |
|
|
$ |
16,512 |
|
|
$ |
7,718 |
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|
$ |
7,510 |
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Identifiable
Assets
|
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|
| (In thousands) |
|
June 29,
2013 |
|
|
December 31,
2012 |
|
|
Aerospace
|
|
$ |
180,075 |
|
|
$ |
177,168 |
|
|
Test Systems
|
|
|
16,028 |
|
|
|
18,121 |
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Corporate
|
|
|
26,334 |
|
|
|
16,700 |
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Total Assets
|
|
$ |
222,437 |
|
|
$ |
211,989 |
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