Business Segment Information

9 Months Ended

Sep. 28, 2013

Business Segment Information

Note 10. Business Segment Information

We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, DAS and DLT, each of which is a reportable operating segment.

Financial information by reportable segment was as follows:

	(In thousands)									(In thousands)
	Three Months Ended									Nine Months Ended
	%			September 28,			September 29,			%			September 28,			September 29,
	Change			2013			2012			Change			2013			2012
Net Sales
DAS		1.4	%	$	77,740		$	76,655			2.9	%	$	234,437		$	227,832
DLT		(3.6	)%		103,548			107,442			(3.4	)%		314,238			325,313
Total Net Sales		(1.5	)%	$	181,288		$	184,097			(0.8	)%	$	548,675		$	553,145
Segment Operating Income
DAS				$	7,633		$	7,410					$	23,766		$	21,575
DLT (2)					7,596			10,472						26,772			29,260
					15,229			17,882						50,538			50,835
Corporate General and
Administrative Expenses (1) (2) (3)					(3,276	)		(3,642	)					(13,240	)		(10,724	)
Total Operating Income				$	11,953		$	14,240					$	37,298		$	40,111
Depreciation and Amortization
Expenses
DAS				$	2,621		$	2,903					$	7,386		$	7,200
DLT					4,540			4,710						13,863			14,139
Corporate Administration					41			42						126			122
Total Depreciation and
Amortization Expenses				$	7,202		$	7,655					$	21,375		$	21,461
Capital Expenditures
DAS				$	1,159		$	2,074					$	4,208		$	6,360
DLT					866			1,472						3,046			5,921
Corporate Administration					43			21						67			49
Total Capital Expenditures				$	2,068		$	3,567					$	7,321		$	12,330

⁽¹⁾  Includes costs not allocated to either the DLT or DAS operating segments.

⁽²⁾  The nine-month period of 2012 includes merger-related transaction costs of $0.3 million in Corporate General and Administrative Expenses and $0.4 million in DLT resulting from a change in control provision for certain key executives and employees arising in connection with the acquisition of LaBarge Inc. in June 2011.

⁽³⁾  The three- and nine-month periods of 2013 include $0.1 million and $1.2 million, respectively, of workers’ compensation insurance expenses included in gross profit and not allocated to the operating segments. The three- and nine-month periods of 2012 include $(0.2) million and $0.4 million, respectively, of workers’ compensation insurance expenses (credits) included in gross profit and not allocated to the operating segments.

Segment assets include assets directly identifiable with each segment. Corporate Administration assets include assets not specifically identified with a business segment, including cash.

	(In thousands)
	September 28,		December 31,
	2013		2012
Total Assets
DAS	$	252,476	$	248,326
DLT		447,827		465,217
Corporate Administration		59,743		71,531
Total Assets	$	760,046	$	785,074
Goodwill and Intangibles
DAS	$	65,775	$	67,459
DLT		264,353		270,837
Total Goodwill and Intangibles	$	330,128	$	338,296