XML 65 R52.htm IDEA: XBRL DOCUMENT v3.25.4
SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
(In thousands)202520242023
Sales:
Aerospace$797,353 $706,746 $605,001 
Less Inter-segment Sales(34)(62)(171)
Total Aerospace Sales797,319 706,684 604,830 
Test Systems65,243 88,874 84,376 
Less Inter-segment Sales(434)(132)— 
Test Systems64,809 88,742 84,376 
Total Consolidated Sales$862,128 $795,426 $689,206 
Less1
Cost of Products Sold:
Aerospace$548,879 $502,558 $451,911 
68.8 %71.1 %74.7 %
Test Systems$55,091 $72,440 $62,763 
85.0 %81.6 %74.4 %
Other Segment Items2
Aerospace$135,236 $141,720 $128,290 
Test Systems$17,563 $24,779 $30,358 
(In thousands)202520242023
Operating Income (Loss) and Margins:
Aerospace$113,204 $62,406 $24,629 
14.2 %8.8 %4.1 %
Test Systems(7,845)(8,477)(8,745)
(12.1)%(9.6)%(10.4)%
Total Operating Income (Loss)$105,359 $53,929 $15,884 
12.2 %6.8 %2.3 %
Additions to (Deductions from) Operating Profit:
Net Gain on Sale of Businesses$— $— $3,427 
Loss on Settlement of Debt(32,644)(10,148)— 
Interest Expense, Net of Interest Income(12,561)(21,998)(23,328)
Corporate and Other Expenses, Net(28,209)(29,650)(22,294)
Income (Loss) before Income Taxes$31,945 $(7,867)$(26,311)
1 The significant expenses and amounts presented align with the segment-level information that is regularly provided to the CODM. Inter-segment expenses are included within the amounts shown.
2 Other segment items include Selling, General and Administrative Expenses, Research and Development Expenses, and sublease and rental income.
Depreciation and Amortization:
Aerospace$18,866 $19,458 $20,801 
Test Systems2,932 4,813 5,068 
Corporate40 195 235 
Total Depreciation and Amortization$21,838 $24,466 $26,104 
Assets:
Aerospace$570,294 $498,528 
Test Systems119,603 128,828 
Corporate16,781 21,408 
Total Assets$706,678 $648,764 
Capital Expenditures:
Aerospace$30,741 $7,346 $5,003 
Test Systems932 1,066 2,640 
Corporate— 16 — 
Total Capital Expenditures$31,673 $8,428 $7,643 
Schedule of the Company's Sales and Long-Lived Assets by Geographic Region
The following table summarizes the Company’s sales into the following geographic regions for the years ended December 31:
(In thousands)202520242023
United States$615,096 $593,943 $518,096 
North America (excluding United States)14,635 13,107 14,878 
Asia73,265 44,176 26,165 
Europe153,396 139,384 123,682 
South America2,117 1,445 2,071 
Other3,619 3,371 4,314 
Total$862,128 $795,426 $689,206 
The following table summarizes the Company’s property, plant and equipment by country for the years ended December 31:
(In thousands)20252024
United States$97,325 $73,749 
France6,507 5,625 
Germany2,155 — 
India255 357 
Canada836 956 
Total$107,078 $80,687 
Schedule of Activities with Major Customers The following is information relating to the activity with this customer:
202520242023
Percent of Consolidated Sales
Boeing10.4%10.2%11.0%
(In thousands)20252024
Accounts Receivable at December 31,
Boeing$19,679 $10,474