Segment Information

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

Below are the sales and operating (loss) profit by segment for the three and six months ended July 2, 2022 and July 3, 2021 and a reconciliation of segment operating loss 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)	July 2, 2022			July 3, 2021			July 2, 2022			July 3, 2021
Sales:
Aerospace	$	210,694		$	170,650		$	109,300		$	89,220
Less Inter-segment Sales	(10)			(14)			(10)			—
Total Aerospace Sales	210,684			170,636			109,290			89,220
Test Systems	34,638			46,683			19,840			21,938
Less Inter-segment Sales	(19)			(304)			(3)			—
Total Test Systems Sales	34,619			46,379			19,837			21,938
Total Consolidated Sales	$	245,303		$	217,015		$	129,127		$	111,158
Segment Measure of Operating (Loss) Profit and Margins
Aerospace	$	(226)		$	(8,269)		$	(3,276)		$	(2,706)
	(0.1)		%	(4.8)		%	(3.0)		%	(3.0)		%
Test Systems	(1,813)			243			(26)			(946)
	(5.2)		%	0.5		%	(0.1)		%	(4.3)		%
Total Segment Measure of Operating Loss	(2,039)			(8,026)			(3,302)			(3,652)
	(0.8)		%	(3.7)		%	(2.6)		%	(3.3)		%
Deductions from Segment Measure of Operating Loss
Net Gain on Sale of Business	(11,284)			—			—			—
Interest Expense, Net of Interest Income	3,293			3,457			1,662			1,699
Corporate Expenses and Other	11,277			8,487			5,385			2,815
Loss Before Income Taxes	$	(5,325)		$	(19,970)		$	(10,349)		$	(8,166)

Total Assets:

(In thousands)	July 2, 2022		December 31, 2021
Aerospace	$	463,715	$	458,334
Test Systems	100,224		105,335
Corporate	18,342		45,469
Total Assets	$	582,281	$	609,138