Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2
Segment Information
 6 Months Ended
Jul. 02, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Below are the sales and operating (loss) profit by segment for the three and six months ended July 2, 2022 and July 3, 2021 and a reconciliation of segment operating loss 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) July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021
Sales:
Aerospace $ 210,694  $ 170,650  $ 109,300  $ 89,220 
Less Inter-segment Sales (10) (14) (10) — 
Total Aerospace Sales 210,684  170,636  109,290  89,220 
Test Systems 34,638  46,683  19,840  21,938 
Less Inter-segment Sales (19) (304) (3) — 
Total Test Systems Sales 34,619  46,379  19,837  21,938 
Total Consolidated Sales $ 245,303  $ 217,015  $ 129,127  $ 111,158 
Segment Measure of Operating (Loss) Profit and Margins
Aerospace
 $ (226) $ (8,269) $ (3,276) $ (2,706)
(0.1) % (4.8) % (3.0) % (3.0) %
Test Systems
 (1,813) 243  (26) (946)
(5.2) % 0.5  % (0.1) % (4.3) %
Total Segment Measure of Operating Loss (2,039) (8,026) (3,302) (3,652)
(0.8) % (3.7) % (2.6) % (3.3) %
Deductions from Segment Measure of Operating Loss
Net Gain on Sale of Business (11,284) —  —  — 
Interest Expense, Net of Interest Income
 3,293  3,457  1,662  1,699 
Corporate Expenses and Other
 11,277  8,487  5,385  2,815 
Loss Before Income Taxes $ (5,325) $ (19,970) $ (10,349) $ (8,166)
Total Assets:
(In thousands)
 July 2, 2022 December 31, 2021
Aerospace
 $ 463,715  $ 458,334 
Test Systems
 100,224  105,335 
Corporate
 18,342  45,469 
Total Assets
 $ 582,281  $ 609,138