Segment information

3 Months Ended

Mar. 31, 2025

Segment information

Segment information

Note 2 – Segment information:

Our chief operating decision maker (“CODM”) evaluates segment performance based on net income and segment profit (a non-GAAP measure), which we define as gross margin less selling, general and administrative expenses directly attributable to CompX. Differences between segment profit and the amounts included in net income are included in the table below. Depreciation and amortization amounts included in the calculation of segment profit all relate to CompX and were $.9 million in each of the three months ended March 31, 2024 and 2025.

	Three months ended March 31,
	2024		2025
	(In thousands)
Net sales	$	37,971	$	40,272
Segment profit		3,715		5,869
Corporate expenses		(2,359)		(2,721)
Equity in earnings of Kronos Worldwide, Inc.		2,476		5,525
Interest and dividend income		2,551		2,038
Marketable equity securities		2,383		(8,552)
Other components of net periodic pension and OPEB cost		(318)		(285)
Interest expense		(145)		(575)
Income tax (expense) benefit		(988)		23
Net income	$	7,315	$	1,322

See the Condensed Consolidated Financial Statements for additional financial information regarding the Company’s operating segment.