Segment Information

3 Months Ended

Sep. 28, 2014

Segment Information

Segment Information

NOTE 13 — Segment Information

Information regarding segments is presented in accordance with ASC 280, Segment Reporting.  Based on the criteria outlined in this guidance, the Company’s operations are classified into four reportable business segments:  Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group.  Certain prior year amounts have been reclassified to conform to the current year presentation as a result of adding the 3DMT Group as a reportable business segment during the second quarter of fiscal year 2014.

· The Precision Components Group companies provide highly engineered fabricated metal components using processes consisting of metal injection molding, metal stamping, and the hermetic sealing of certain components.  Industries served include medical and dental devices, firearms and defense, automotive, aerospace, consumer durables, and electronic devices.

· The 3DMT Group was strategically established in the second quarter of fiscal year 2014 to meet customer needs of reducing costs and accelerating the “speed-to-market” through rapid prototyping, short-run production, and rapid tooling.  The segment consists of our tooling product line, 3DMT, and ATC, which was acquired in April 2014.

· The Flange and Fittings Group consists of GF&F.  GF&F provides custom machining needs and special flange facings.

· The Wireless Group focuses on wireless broadband technology related to propagation and optimization.  It designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks.  Products are sold to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers.

Summarized segment information for the Company’s four segments for three month periods ended September 28, 2014 and September 29, 2013 is as follows:

	Three months ended,
	September 28, 2014			September 29, 2013
Net sales:
Precision Components Group	$	21,800		$	15,125
3DMT Group	4,682			1,327
Flanges and Fittings Group	1,527			1,261
Wireless Group	689			687
Consolidated net sales	$	28,698		$	18,400
Operating costs:
Precision Components Group	18,903			12,420
3DMT Group	5,039			932
Flanges and Fittings Group	1,324			1,189
Wireless Group	676			498
Consolidated operating costs	$	25,942		$	15,039
Segment operating income (loss) from continuing operations:
Precision Components Group	2,897			2,705
3DMT Group	(357		)	395
Flanges and Fittings Group	203			72
Wireless Group	13			189
Corporate expense	(1,448		)	(1,460		)
Total segment operating income from continuing operations	$	1,308		$	1,901
Interest expense, net	(921		)	(205		)
Other non-operating income (expense)	(2		)	—
Non-operating income (expense)	(923		)	(205		)
Consolidated income from continuing operations before income tax expense and non-controlling interest	$	385		$	1,696

	Three months ended,
	September 28, 2014		September 29, 2013
Capital expenditures:
Precision Components Group	$	2,340	$	371
3DMT Group	117		—
Consolidated capital expenditures	$	2,457	$	371
Depreciation and amortization expense:
Precision Components Group	$	1,440	$	853
3DMT Group	831		—
Flanges and Fittings Group	22		26
Wireless Group	18		19
Consolidated depreciation and amortization expense	$	2,311	$	898

Total assets:	September 28, 2014		June 30, 2014
Precision Components Group	$	93,357	$	91,045
3DMT Group	29,190		29,826
Flanges and Fittings Group	3,630		3,650
Wireless Group	1,642		1,515
Corporate	7,876		10,353
Consolidated total assets	$	135,695	$	136,389

Geographic information for the Company is as follows (in thousands):

	Three Months Ended,
	September 28, 2014		September 29, 2013
Sales from continuing operations: (1)
U.S.	$	25,705	$	15,133
International	2,993		3,267
	$	28,698	$	18,400

(1) Sales are attributable to the country in which the product is manufactured or service is provided.

	September 28, 2014		June 30, 2014
Long-lived assets:
U.S.	$	82,232	$	82,861
International	9,684		9,589
	$	91,916	$	92,450