| Segment Information |
15) Segment Information
Below are the sales and operating profit by segment for the three
and six months ended June 28, 2014 and June 29, 2013 and
a reconciliation of segment operating profit to income before
income taxes. Operating profit is 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 |
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| (Dollars in thousands) |
|
June 28,
2014 |
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June 29,
2013 |
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June 28,
2014 |
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June 29,
2013 |
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Sales
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Aerospace
|
|
$ |
243,895 |
|
|
$ |
140,345 |
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$ |
121,523 |
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$ |
68,676 |
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Test Systems
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71,856 |
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|
4,547 |
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|
53,167 |
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|
2,157 |
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Less Intersegment Sales
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(237 |
) |
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(92 |
) |
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(127 |
) |
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— |
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71,619 |
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|
4,455 |
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|
53,040 |
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|
2,157 |
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Total Consolidated Sales
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$ |
315,514 |
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$ |
144,800 |
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$ |
174,563 |
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$ |
70,833 |
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Operating Profit (Loss) and Margins
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Aerospace
|
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$ |
38,251 |
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$ |
25,735 |
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$ |
20,761 |
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$ |
11,447 |
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15.7 |
% |
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|
18.3 |
% |
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17.1 |
% |
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|
16.7 |
% |
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Test Systems
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|
|
2,335 |
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(2,135 |
) |
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|
4,030 |
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(610 |
) |
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3.2 |
% |
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(47.0 |
)% |
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|
7.6 |
% |
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(28.3 |
)% |
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Total Operating Profit
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40,586 |
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|
23,600 |
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24,791 |
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|
10,837 |
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12.9 |
% |
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16.3 |
% |
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14.2 |
% |
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15.3 |
% |
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Deductions from Operating Profit
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Interest Expense, net of interest income
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4,882 |
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|
480 |
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2,559 |
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|
262 |
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Corporate Expenses and Other
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4,478 |
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4,558 |
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|
2,310 |
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|
2,857 |
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Income Before Income Taxes
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$ |
31,226 |
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$ |
18,562 |
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$ |
19,922 |
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$ |
7,718 |
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Identifiable Assets
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| (In thousands) |
|
June 28,
2014 |
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December 31,
2013 |
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Aerospace
|
|
$ |
448,447 |
|
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$ |
428,619 |
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Test Systems
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|
115,325 |
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|
11,035 |
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Corporate
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|
|
19,003 |
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|
51,617 |
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Total Assets
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$ |
582,775 |
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$ |
491,271 |
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