Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.3
Segment Information
9 Months Ended
Sep. 28, 2019
Segment Reporting [Abstract]  
Segment Information Segment Information
Below are the sales and operating profit by segment for the three and nine months ended September 28, 2019 and September 29, 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. 
Nine Months Ended Three Months Ended
(In thousands) September 28, 2019 September 29, 2018 September 28, 2019 September 29, 2018
Sales
Aerospace $ 520,495    $ 500,445    $ 157,702    $ 169,588   
Less Intersegment Sales (5)   (62)   —    (9)  
Total Aerospace Sales 520,490    500,383    157,702    169,579   
Test Systems 53,995    99,956    19,346    43,095   
Less Intersegment Sales (195)   —    (30)   —   
Total Test Systems Sales 53,800    99,956    19,316    43,095   
Total Consolidated Sales $ 574,290    $ 600,339    $ 177,018    $ 212,674   
Operating Profit and Margins
Aerospace
$ 48,949    $ 47,525    $ 8,789    $ 16,210   
9.4  % 9.5  % 5.6  % 9.6  %
Test Systems
4,166    10,151    2,075    5,833   
7.7  % 10.2  % 10.7  % 13.5  %
Total Operating Profit 53,115    57,676    10,864    22,043   
9.2  % 9.6  % 6.1  % 10.4  %
Additions/Deductions from Operating Profit
Net (Gain) Loss on Sale of Businesses (78,801)   —    1,332    —   
Interest Expense, Net of Interest Income
4,576    7,326    1,547    2,511   
Corporate Expenses and Other
15,755    13,662    6,225    3,952   
Income Before Income Taxes $ 111,585    $ 36,688    $ 1,760    $ 15,580   
Total Assets: 
(In thousands)
September 28, 2019 December 31, 2018
Aerospace
$ 657,169    $ 647,870   
Test Systems
88,662    97,056   
Corporate
32,137    29,714   
Total Assets
$ 777,968    $ 774,640