Business Segment Information

6 Months Ended

Jul. 02, 2016

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

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

Financial information by reportable operating segment was as follows:

	(In thousands) Three Months Ended						(In thousands) Six Months Ended
	July 2, 2016			July 4, 2015			July 2, 2016			July 4, 2015
Net Revenues
Structural Systems	$	60,694		$	76,078		$	124,711		$	148,136
Electronic Systems	72,743			98,767			150,874			199,629
Total Net Revenues	$	133,437		$	174,845		$	275,585		$	347,765
Segment Operating Income
Structural Systems	$	4,730		$	6,870		$	7,454		$	9,008
Electronic Systems (1)	6,782			7,692			13,169			13,977
	11,512			14,562			20,623			22,985
Corporate General and Administrative Expenses (1)(2)	(4,246		)	(3,723		)	(9,064		)	(8,519		)
Operating Income	$	7,266		$	10,839		$	11,559		$	14,466
Depreciation and Amortization Expenses
Structural Systems	$	1,775		$	2,111		$	3,832		$	4,624
Electronic Systems	3,668			4,361			7,429			8,720
Corporate Administration	33			42			70			84
Total Depreciation and Amortization Expenses	$	5,476		$	6,514		$	11,331		$	13,428
Capital Expenditures
Structural Systems	$	4,540		$	2,417		$	6,594		$	5,751
Electronic Systems	407			948			754			2,438
Corporate Administration	—			2			—			6
Total Capital Expenditures	$	4,947		$	3,367		$	7,348		$	8,195

(1) Includes correction of an error for the three months ended April 2, 2016 related to a credit of general and administrative expenses being reflected in the Electronic Systems operating segment instead of Corporate General and Administrative Expenses of $0.7 million in the six months ended July 2, 2016 results. There was no impact to total consolidated operating income.

(2) Includes costs not allocated to either the Structural Systems or Electronic Systems operating segments.

Segment assets include assets directly identifiable with each segment. Our segment assets are as follows:

	(In thousands)
	July 2, 2016		December 31, 2015
Total Assets
Structural Systems	$	182,786	$	179,134
Electronic Systems	324,176		363,227
Corporate Administration (1)	13,337		14,720
Total Assets	$	520,299	$	557,081
Goodwill and Intangibles
Structural Systems	$	4,306	$	4,866
Electronic Systems	184,345		207,595
Total Goodwill and Intangibles	$	188,651	$	212,461

(1) Includes assets not specifically identified to either the Structural Systems or Electronic Systems operating segments, including cash.