Segment Information

6 Months Ended

Jun. 29, 2019

Segment Reporting [Abstract]

Segment Information

Segment Information

Below are the sales and operating profit by segment for the three and six months ended June 29, 2019 and June 30, 2018 and a reconciliation of segment operating profit to income before income taxes. Operating profit is net sales less cost of products sold and other operating expenses excluding interest and corporate expenses. Cost of products sold and other operating expenses are directly identifiable to the respective segment. 

	Six Months Ended						Three Months Ended
(In thousands)	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Sales
Aerospace	$	362,793		$	330,857		$	174,292		$	166,257
Less Intersegment Sales	(5)			(53)			(5)			(53)
Total Aerospace Sales	362,788			330,804			174,287			166,204
Test Systems	34,649			56,861			14,925			42,402
Less Intersegment Sales	(165)			—			(114)			—
Total Test Systems Sales	34,484			56,861			14,811			42,402
Total Consolidated Sales	$	397,272		$	387,665		$	189,098		$	208,606
Operating Profit and Margins
Aerospace	$	40,160		$	31,315		$	14,392		$	18,200
	11.1		%	9.5		%	8.3		%	11.0		%
Test Systems	2,091			4,318			(94)			6,247
	6.0		%	7.6		%	(0.6)		%	14.7		%
Total Operating Profit	42,251			35,633			14,298			24,447
	10.6		%	9.2		%	7.6		%	11.7		%
Additions/Deductions from Operating Profit
Gain on Sale of Business	80,133			—			—			—
Interest Expense, Net of Interest Income	3,029			4,815			1,225			2,484
Corporate Expenses and Other	9,530			9,710			4,243			4,781
Income Before Income Taxes	$	109,825		$	21,108		$	8,830		$	17,182

Total Assets: 

(In thousands)	June 29, 2019		December 31, 2018
Aerospace	$	668,425	$	647,870
Test Systems	68,017		97,056
Corporate	30,821		29,714
Total Assets	$	767,263	$	774,640