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SEGMENT INFORMATION
 9 Months Ended
Mar. 30, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE L – SEGMENT INFORMATION

 

Information regarding segments is presented in accordance with segment disclosure guidance. Based on the criteria outlined in this guidance, our operations are classified into four reportable business segments: Precision Components Group, Flanges and Fittings Group, Wireless Group, and 3DMT Group.

 

The 3DMT Group was strategically established in the second quarter of fiscal 2014 to meet customer needs of reducing costs and accelerating the “time to market” through rapid prototyping, short run production, and specialized tooling. The segment currently consists of the newly established 3D Material Technologies entity and the existing tooling product line. Reclassifications of the existing tooling product line from the Precision Components Group have been made to current and prior year amounts to conform to the current year presentation. The 3DMT Group’s three and nine months ending reported sales for current and prior year periods are reflective of the tooling product line.

 

During the third quarter of fiscal year 2013, the Company made the decision to discontinue the operations of TubeFit, which was previously included within its Flanges and Fittings segment. Consequently, the Company has classified the results of operations of TubeFit as a discontinued operation for all periods presented. Summarized segment information for our four continuing segments for the three and nine months ended March 30, 2014 and March 31, 2013 is as follows:

 

   For the Three Months Ended
(in thousands)
    
   March 30, 2014   March 31, 2013
Net Sales:          
Precision Components Group  $ 17,880   $15,489 
Flanges and Fittings Group   1,557    1,560 
Wireless Group   500    541 
3DMT Group   993    658 
Consolidated Net Sales  $ 20,930   $18,248 
Operating Costs:          
Precision Components Group   14,405    13,935 
Flanges and Fittings Group   1,313    1,480 
Wireless Group   408    559 
3DMT Group   940    570 
Consolidated Operating Costs  $ 17,066   $16,544 
Segment Operating Income (Loss) from Continuing Operations:          
Precision Components Group   3,475    1,554 
Flanges and Fittings Group   244    80 
Wireless Group   92    (18)
3DMT Group   53    88 
Corporate Expense   (591)   (104)
Total Segment Operating Income from Continuing Operations  $ 3,273   $1,600 
Interest expense, Net   (282)   (146)
Gain on Bargain Purchase   —    — 
Other Non-Operating Income(Expense)   1    (65)
Non-Operating Income (Expenses)  $ (281)  $ (211)
Consolidated Income from Continuing Operations before Income Tax Expense and Non-Controlling Interest  $2,992   $1,389 

 

 

         
Three Months ending:  March 30, 2014   March 31, 2013 
Capital Expenditures:          
Precision Components Group  $1,264   $86 
Flanges and Fittings Group   1    10 
Wireless Group   —    — 
3DMT Group   466    — 
Consolidated Capital Expenditures  $1,731   $96 

 

Three Months ending:  March 30, 2014   March 31, 2013 
Depreciation and Amortization Expense:          
Precision Components Group  $867   $1,035 
Flanges and Fittings Group   26    26 
Wireless Group   21    27 
3DMT Group   —    — 
Consolidated Depreciation and Amortization Expense  $914   $1,088 

 

   For the Nine Months Ended
(in thousands)		 
     
   March 30, 2014   March 31, 2013 
Net Sales:          
Precision Components Group  $49,873   $40,532 
Flanges and Fittings Group   4,154    4,925 
Wireless Group   2,079    1,499 
3DMT Group   3,166    2,023 
Consolidated Net Sales  $59,272   $48,979 
Operating Costs:          
Precision Components Group   40,859    35,845 
Flanges and Fittings Group   3,748    4,518 
Wireless Group   1,591    1,779 
3DMT Group   2,470    1,511 
Consolidated Operating Costs  $48,668   $43,653 
           
Segment Operating Income/(Loss) from Continuing Operations:          
Precision Components Group   9,014    4,687 
Flanges and Fittings Group   406    407 
Wireless Group   488    (280)
3DMT Group   696    512 
Corporate Expense   (2,879)   (2,757)
Total Segment Operating Income from Continuing Operations  $7,725   $2,569 
Interest Expense, Net   (781)   (538)
Gain on Bargain Purchase   —    381 
Other Non-Operating Income(Expense)   9    (41)
Non- Operating Income (Expenses)  $(772)  $(198)
Consolidated Income from Continuing Operations before Income Tax Expense and Non-Controlling Interest  $6,953   $2,371 

 

 

         
Nine Months ending:  March 30, 2014   March 31, 2013 
Capital Expenditures:          
Precision Components Group  $2,146   $297 
Flanges and Fittings Group   11    15 
Wireless Group   —    — 
3DMT Group   466    — 
Consolidated Capital Expenditures  $2,623   $312 

 

Nine Months ending:  March 30, 2014   March 31, 2013 
Depreciation and Amortization Expense:          
Precision Components Group  $2,564   $2,274 
Flanges and Fittings Group   78    76 
Wireless Group   62    68 
3DMT Group   —    — 
Consolidated Depreciation and Amortization Expense  $2,704   $2,418