Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
9 Months Ended
Sep. 28, 2013
Segment Reporting [Abstract]  
Segment Information

15) Segment Information

Below are the sales and operating profit by segment for the three and nine months ended September 28, 2013 and September 29, 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.

 

     Nine months Ended     Three Months Ended  
(Dollars in thousands)    September 28,
2013
    September 29,
2012
    September 28,
2013
    September 29,
2012
 

Sales

        

Aerospace

   $ 227,870      $ 190,212      $ 87,525      $ 65,788   
  

 

 

   

 

 

   

 

 

   

 

 

 

Test Systems

     7,207        8,814        2,660        3,111   

Less Intersegment Sales

     (596     —          (504     —     
  

 

 

   

 

 

   

 

 

   

 

 

 
     6,611        8,814        2,156        3,111   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Consolidated Sales

   $ 234,481      $ 199,026      $ 89,681      $ 68,899   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating Profit (Loss) and Margins

        

Aerospace

   $ 41,112      $ 33,358      $ 15,377      $ 10,577   
     18.0     17.5     17.6     16.1

Test Systems

     (2,880     (3,525     (745     (1,132
     (40.0 )%      (40.0 )%      (28.0 )%      (36.4 )% 
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Operating Profit

     38,232        29,833        14,632        9,445   
     16.3     15.0     16.3     13.7

Deductions from Operating Profit

        

Interest Expense

     2,085        803        1,605        274   

Corporate Expenses and Other

     6,838        5,137        2,280        1,790   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income Before Income Taxes

   $ 29,309      $ 23,893      $ 10,747      $ 7,381   
  

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable Assets

 

(In thousands)    September 28,
2013
     December 31,
2012
 

Aerospace

   $ 349,363       $ 177,168   

Test Systems

     9,584         18,121   

Corporate

     73,883         16,700   
  

 

 

    

 

 

 

Total Assets

   $ 432,830       $ 211,989