Reportable Segments

6 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Reportable Segments

8.  Reportable Segments

The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. Those operating segments with similar economic characteristics and that meet all other required criteria, including nature of the products and production processes, distribution patterns and classes of customers, are aggregated as reportable segments.

The Company has four reportable business segments; Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below.

Plain Bearings. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consist of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings. Unlike ball bearings, which are used in high-speed rotational applications, plain bearings are primarily used to rectify inevitable misalignments in various mechanical components.

Roller Bearings. Roller bearings are anti-friction bearings that use rollers instead of balls. The Company manufactures four basic types of roller bearings: heavy duty needle roller bearings with inner rings, tapered roller bearings, track rollers and aircraft roller bearings.

Ball Bearings. The Company manufactures four basic types of ball bearings: high precision aerospace, airframe control, thin section and commercial ball bearings which are used in high-speed rotational applications.

Engineered Products. Engineered Products consists of highly engineered hydraulics, fasteners, collets and precision components used in aerospace, marine and industrial applications.

Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

	Three Months Ended						Six Months Ended
	September 30, 2017			October 1, 2016			September 30, 2017			October 1, 2016
Net External Sales
Plain	$	72,392		$	68,835		$	145,045		$	139,285
Roller		32,317			26,795			63,730			54,629
Ball		16,480			14,569			32,260			28,279
Engineered Products		43,128			43,744			87,179			86,329
	$	164,317		$	153,943		$	328,214		$	308,522
Gross Margin
Plain	$	27,728		$	26,603		$	56,104		$	53,157
Roller		12,897			11,496			25,652			23,785
Ball		6,740			5,183			12,915			10,487
Engineered Products		14,446			13,449			29,049			26,553
	$	61,811		$	56,731		$	123,720		$	113,982
Selling, General & Administrative Expenses
Plain	$	6,323		$	5,825		$	12,772		$	11,815
Roller		1,641			1,526			3,212			2,967
Ball		1,680			1,317			3,295			2,779
Engineered Products		5,122			4,413			10,399			9,306
Corporate		12,829			12,107			25,695			24,117
	$	27,595		$	25,188		$	55,373		$	50,984
Operating Income
Plain	$	20,662		$	19,867		$	41,823		$	39,630
Roller		11,236			10,406			22,419			21,194
Ball		5,020			3,724			9,515			7,438
Engineered Products		805			7,786			9,022			14,733
Corporate		(12,445	)		(12,229	)		(25,701	)		(24,220	)
	$	25,278		$	29,554		$	57,078		$	58,775
Geographic External Sales
Domestic	$	144,997		$	135,240		$	288,023		$	270,417
Foreign		19,320			18,703			40,191			38,105
	$	164,317		$	153,943		$	328,214		$	308,522
Intersegment Sales
Plain	$	1,397		$	889		$	2,553		$	2,102
Roller		2,884			4,264			6,293			8,248
Ball		624			326			1,152			841
Engineered Products		7,848			6,899			16,021			14,416
	$	12,753		$	12,378		$	26,019		$	25,607

All intersegment sales are eliminated in consolidation.