Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment

Financial information by reportable segment was as follows:

	(In thousands) Years Ended December 31,
	2024						2023						2022
	Electronic Systems		Structural Systems		Total		Electronic Systems		Structural Systems		Total		Electronic Systems		Structural Systems		Total
Consolidated Net Revenues (1)	$431,363		$355,188		$786,551		$430,136		$326,856		$756,992		$440,638		$271,899		$712,537
Less: Significant Expenses
Cost of sales	313,408		275,878				340,276		253,529				346,349		221,891
Selling, general and administrative expenses	44,112		48,079				41,629		41,579				40,626		30,412
Restructuring charges	177		6,267				6,145		8,288				3,787		2,371
Segment Operating Income (1)	$	73,666	$	24,964	98,630		$	42,086	$	23,460	65,546		$	49,876	$	17,225	67,101
Reconciliation of Profit or Loss (Segment Operating Income)
Unallocated Amounts:
Corporate general and administrative expenses (2)					(46,419)						(36,520)						(27,313)
Restructuring charges					—						(109)						—
Operating Income					52,211						28,917						39,788
Interest Expense					(15,304)						(20,773)						(11,571)
Loss on Extinguishment of Debt					—						—						(295)
Other Income					—						8,235						5,400
Income Before Taxes					$	36,907					$	16,379					$	33,322

(1)The results for 2023 include BLR’s results of operations which have been included in our consolidated statements of income since the date of acquisition in April 2023, as part of the Structural Systems segment. See Note 2.

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

Additional financial information by reportable segment was as follows:

	(In thousands) Years Ended December 31,
	2024		2023		2022
Depreciation and Amortization Expenses
Electronic Systems	$	14,455	$	14,276	$	13,974
Structural Systems	18,696		18,060		17,212
Corporate Administration	287		235		235
Total Depreciation and Amortization Expenses	$	33,438	$	32,571	$	31,421
Capital Expenditures
Electronic Systems	$	4,908	$	6,007	$	10,717
Structural Systems	6,281		13,127		8,834
Corporate Administration	3,220		—		—
Total Capital Expenditures	$	14,409	$	19,134	$	19,551

Schedule of Segment Assets

Corporate assets include assets not specifically identified with a business segment, including cash. The following table summarizes our segment assets for 2024 and 2023:

	(In thousands) December 31,
	2024		2023
Total Assets
Electronic Systems	$	507,428	$	505,371
Structural Systems (1)	551,213		552,641
Corporate Administration (2)	67,460		62,907
Total Assets	$	1,126,101	$	1,120,919
Goodwill and Intangibles
Electronic Systems	$	163,926	$	173,214
Structural Systems	230,265		237,729
Total Goodwill and Intangibles	$	394,191	$	410,943

(1)In April 2023, we acquired 100.0% of the outstanding equity interests of BLR for an original purchase price of $115.0 million, net of cash acquired. We allocated the final gross purchase price of $117.0 million to the assets acquired and liabilities assumed at their estimated fair values. The excess of the purchase price over the aggregate fair values of the net assets was recorded as goodwill. See Note 2.

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