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Segment Information
 6 Months Ended
Dec. 27, 2015
Segment Information  
Segment Information

NOTE 12 – 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.

 

·

The Precision Components Group companies provide highly engineered fabricated metal components using processes consisting of metal injection molding, precision 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 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 legacy tooling product line, 3DMT (our 3D printing and additive manufacturing operations), and ATC, which was acquired in April 2014.

 

·

The Flanges and Fittings Group consists of GF&F.  GF&F provides custom machining solutions 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, industrial, 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 three and six month periods ended December 27, 2015 and December 28, 2014 is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

    

December 27,

    

December 28,

    

December 27,

    

December 28,

 

 

 

2015

 

2014

 

2015

 

2014

 

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
18,304

 

$
21,976

 

$
36,231

 

$
43,776

 

3DMT Group

 

 
5,149

 

 
3,169

 

 
10,205

 

 
7,851

 

Flanges and Fittings Group

 

 
1,149

 

 
1,518

 

 
2,321

 

 
3,045

 

Wireless Group

 

 
426

 

 
443

 

 
760

 

 
1,132

 

Consolidated sales

 

$
25,028

 

$
27,106

 

$
49,517

 

$
55,804

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
17,202

 

$
19,400

 

$
34,147

 

$
38,303

 

3DMT Group

 

 
5,303

 

 
3,622

 

 
10,512

 

 
8,661

 

Flanges and Fittings Group

 

 
1,104

 

 
1,350

 

 
2,072

 

 
2,674

 

Wireless Group

 

 
339

 

 
494

 

 
627

 

 
1,170

 

Consolidated operating costs

 

$
23,948

 

$
24,866

 

$
47,358

 

$
50,808

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
1,102

 

$
2,576

 

$
2,084

 

$
5,473

 

3DMT Group

 

 
(154)

 

 
(453)

 

 
(307)

 

 
(810)

 

Flanges and Fittings Group

 

 
45

 

 
168

 

 
249

 

 
371

 

Wireless Group

 

 
87

 

 
(51)

 

 
133

 

 
(38)

 

Corporate (1)

 

 
(771)

 

 
(783)

 

 
(1,579)

 

 
(2,231)

 

Total segment operating income

 

$
309

 

$
1,457

 

$
580

 

$
2,765

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 
(1,126)

 

 
(1,213)

 

 
(2,267)

 

 
(2,134)

 

Other non-operating income (expense)

 

 
91

 

 
(9)

 

 
94

 

 
(11)

 

Non-operating income (expense)

 

 
(1,035)

 

 
(1,222)

 

 
(2,173)

 

 
(2,145)

 

Consolidated (loss) income before income tax expense and non-controlling interest

 

$
(726)

 

$
235

 

$
(1,593)

 

$
620

 

(1)

Corporate expense includes compensation and benefits, insurance, legal, accounting, consulting, and board of director’s fees.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

    

December 27,

    

December 28,

    

December 27,

    

December 28,

 

 

 

2015

 

2014

 

2015

 

2014

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
504

 

$
939

 

$
911

 

$
3,279

 

3DMT Group

 

 
197

 

 
50

 

 
419

 

 
167

 

Flanges and Fittings Group

 

 
9

 

 

 —

 

 
9

 

 

 —

 

Wireless Group

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Consolidated capital expenditures

 

$
710

 

$
989

 

$
1,339

 

$
3,446

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

December 27, 2015

 

June 30, 2015

 

Total assets:

 

 

 

 

 

 

 

Precision Components Group

    

$
69,830

    

$
78,675

 

3DMT Group

 

 
21,147

 

 
21,567

 

Flanges and Fittings Group

 

 
1,095

 

 
1,528

 

Wireless Group

 

 
1,020

 

 
963

 

Corporate

 

 
28,669

 

 
23,290

 

Consolidated total assets

 

$
121,761

 

$
126,023

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

 

December 27,

    

December 28,

    

December 27,

    

December 28,

 

 

    

2015

 

2014

 

2015

 

2014

 

Sales: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$
23,204

 

$
23,928

 

$
45,996

 

$
49,633

 

International

 

 
1,824

 

 
3,178

 

 
3,521

 

 
6,171

 

 

 

$
25,028

 

$
27,106

 

$
49,517

 

$
55,804

 

(1)

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

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

December 27,

    

June 30,

 

 

    

2015

 

2015

 

Long-lived assets:

 

 

 

 

 

 

 

U.S.

 

$
72,169

 

$
75,656

 

International

 

 
9,421

 

 
9,399

 

 

 

$
81,590

 

$
85,055