| Summary of Segment Reporting Information |
Below are the sales and operating profit by segment for the three months ended April 2, 2016 and April 4, 2015 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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|
|
|
|
|
|
|
|
|
Three Months Ended |
(Dollars in thousands) |
April 2,
2016 |
|
April 4,
2015 |
Sales |
|
|
|
Aerospace |
$ |
138,649 |
|
|
$ |
142,352 |
|
Less Intersegment Sales |
(340 |
) |
|
— |
|
Total Aerospace Sales |
138,309 |
|
|
142,352 |
|
|
|
|
|
Test Systems |
$ |
21,221 |
|
|
$ |
19,341 |
|
Less Intersegment Sales |
— |
|
|
(55 |
) |
Total Test Systems Sales |
21,221 |
|
|
19,286 |
|
Total Consolidated Sales |
$ |
159,530 |
|
|
$ |
161,638 |
|
Operating Profit and Margins |
|
|
|
Aerospace |
$ |
18,691 |
|
|
$ |
23,402 |
|
|
13.5 |
% |
|
16.4 |
% |
Test Systems |
2,210 |
|
|
(2,225 |
) |
|
10.4 |
% |
|
(11.5 |
)% |
Total Operating Profit |
20,901 |
|
|
21,177 |
|
|
13.1 |
% |
|
13.1 |
% |
Deductions from Operating Profit |
|
|
|
Interest Expense, Net of Interest Income |
1,087 |
|
|
1,246 |
|
Corporate Expenses and Other |
3,302 |
|
|
3,634 |
|
Income Before Income Taxes |
$ |
16,512 |
|
|
$ |
16,297 |
|
Identifiable Assets:
|
|
|
|
|
|
|
|
|
(In thousands) |
April 2,
2016 |
|
December 31,
2015 |
Aerospace |
$ |
513,756 |
|
|
$ |
510,884 |
|
Test Systems |
75,051 |
|
|
64,934 |
|
Corporate |
25,014 |
|
|
33,425 |
|
Total Assets |
$ |
613,821 |
|
|
$ |
609,243 |
|
|