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Segment Information
 9 Months Ended
Mar. 27, 2016
Segment Information  
Segment Information

NOTE 12 – Segment Information

 

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 General Flange & Forge LLC (“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 nine month periods ended March 27, 2016 and March 29, 2015 is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

    

March 27,

    

March 29,

    

March 27,

    

March 29,

 

 

 

2016

 

2015

 

2016

 

2015

 

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
19,059

 

$
21,348

 

$
55,291

 

$
65,124

 

3DMT Group

 

 
5,701

 

 
4,675

 

 
15,905

 

 
12,526

 

Flanges and Fittings Group

 

 
1,244

 

 
1,366

 

 
3,565

 

 
4,411

 

Wireless Group

 

 
497

 

 
475

 

 
1,257

 

 
1,607

 

Consolidated sales

 

$
26,501

 

$
27,864

 

$
76,018

 

$
83,668

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
16,855

 

$
18,649

 

$
51,013

 

$
56,952

 

3DMT Group

 

 
6,142

 

 
5,034

 

 
16,643

 

 
13,695

 

Flanges and Fittings Group

 

 
1,115

 

 
1,251

 

 
3,187

 

 
3,925

 

Wireless Group

 

 
404

 

 
417

 

 
1,031

 

 
1,587

 

Consolidated operating costs

 

$
24,516

 

$
25,351

 

$
71,874

 

$
76,159

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
2,204

 

$
2,699

 

$
4,278

 

$
8,172

 

3DMT Group

 

 
(441)

 

 
(359)

 

 
(738)

 

 
(1,169)

 

Flanges and Fittings Group

 

 
129

 

 
115

 

 
378

 

 
486

 

Wireless Group

 

 
93

 

 
58

 

 
226

 

 
20

 

Corporate (1)

 

 
(1,200)

 

 
(780)

 

 
(2,779)

 

 
(3,011)

 

Total segment operating income

 

$
785

 

$
1,733

 

$
1,365

 

$
4,498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other non-operating (expense) income

 

 
(23)

 

 
128

 

 
71

 

 
117

 

Interest expense, net

 

 
(1,107)

 

 
(1,466)

 

 
(3,374)

 

 
(3,600)

 

Non-operating expense

 

 
(1,130)

 

 
(1,338)

 

 
(3,303)

 

 
(3,483)

 

Consolidated (loss) income before income taxes and non-controlling interest

 

$
(345)

 

$
395

 

$
(1,938)

 

$
1,015

 

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