| Segment Information |
15) Segment Information
Below are the sales and operating profit by segment for the three
and nine months ended September 27, 2014 and
September 28, 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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Nine Months Ended |
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Three Months Ended |
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| (Dollars in thousands) |
|
Sept. 27,
2014 |
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Sept. 28,
2013 |
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Sept. 27,
2014 |
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Sept. 28,
2013 |
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Sales
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Aerospace
|
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$ |
366,128 |
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$ |
227,870 |
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$ |
122,233 |
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$ |
87,525 |
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Test Systems
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|
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129,065 |
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|
7,207 |
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|
57,209 |
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|
2,660 |
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Less Intersegment Sales
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(237 |
) |
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(596 |
) |
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— |
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(504 |
) |
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128,828 |
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|
6,611 |
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57,209 |
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|
2,156 |
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Total Consolidated Sales
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$ |
494,956 |
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$ |
234,481 |
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$ |
179,442 |
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$ |
89,681 |
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Operating Profit (Loss) and Margins
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Aerospace
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$ |
60,308 |
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$ |
41,112 |
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$ |
22,057 |
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$ |
15,377 |
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16.5 |
% |
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18.0 |
% |
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18.0 |
% |
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|
17.6 |
% |
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Test Systems
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|
|
8,034 |
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(2,880 |
) |
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|
5,699 |
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(745 |
) |
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6.2 |
% |
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(40.0 |
)% |
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10.0 |
% |
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(28.0 |
)% |
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Total Operating Profit
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68,342 |
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38,232 |
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27,756 |
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14,632 |
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13.8 |
% |
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16.3 |
% |
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15.5 |
% |
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16.3 |
% |
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Deductions from Operating Profit
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Interest Expense, net of interest income
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7,183 |
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2,085 |
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2,301 |
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1,605 |
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Corporate Expenses and Other
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6,463 |
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6,838 |
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|
1,985 |
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|
2,280 |
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Income Before Income Taxes
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$ |
54,696 |
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$ |
29,309 |
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$ |
23,470 |
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$ |
10,747 |
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Identifiable Assets
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| (In thousands) |
|
September 27,
2014 |
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December 31,
2013 |
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Aerospace
|
|
$ |
454,322 |
|
|
$ |
428,619 |
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Test Systems
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|
114,551 |
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|
11,035 |
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Corporate
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22,034 |
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|
51,617 |
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Total Assets
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$ |
590,907 |
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$ |
491,271 |
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