Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.2
Segment Information
6 Months Ended
Jun. 29, 2019
Segment Reporting [Abstract]  
Segment Information Segment Information
Below are the sales and operating profit by segment for the three and six months ended June 29, 2019 and June 30, 2018 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. 
Six Months Ended Three Months Ended
(In thousands) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018
Sales
Aerospace $ 362,793  $ 330,857  $ 174,292  $ 166,257 
Less Intersegment Sales (5) (53) (5) (53)
Total Aerospace Sales 362,788  330,804  174,287  166,204 
Test Systems 34,649  56,861  14,925  42,402 
Less Intersegment Sales (165) —  (114) — 
Total Test Systems Sales 34,484  56,861  14,811  42,402 
Total Consolidated Sales $ 397,272  $ 387,665  $ 189,098  $ 208,606 
Operating Profit and Margins
Aerospace
$ 40,160  $ 31,315  $ 14,392  $ 18,200 
11.1  % 9.5  % 8.3  % 11.0  %
Test Systems
2,091  4,318  (94) 6,247 
6.0  % 7.6  % (0.6) % 14.7  %
Total Operating Profit 42,251  35,633  14,298  24,447 
10.6  % 9.2  % 7.6  % 11.7  %
Additions/Deductions from Operating Profit
Gain on Sale of Business 80,133  —  —  — 
Interest Expense, Net of Interest Income
3,029  4,815  1,225  2,484 
Corporate Expenses and Other
9,530  9,710  4,243  4,781 
Income Before Income Taxes $ 109,825  $ 21,108  $ 8,830  $ 17,182 
Total Assets: 
(In thousands)
June 29, 2019 December 31, 2018
Aerospace
$ 668,425  $ 647,870 
Test Systems
68,017  97,056 
Corporate
30,821  29,714 
Total Assets
$ 767,263  $ 774,640