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Segment Information
 6 Months Ended
Jan. 01, 2017
Segment Information  
Segment Information

NOTE 13 – 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 and precision metal stamping.  Industries served include aerospace, automotive, consumer durables, electronic devices, firearms and defense, and medical and dental devices.

 

·

The 3DMT Group consists of our tooling product line, 3D Material Technologies, LLC (“3DMT”, our 3D printing and additive manufacturing operations), and ATC.

 

·

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.

 

The historical results of Tekna Seal, which were included in the Precision Components Group segment, have been reflected as discontinued operations; therefore, historical segment information has been restated.  Summarized segment information for the three and six month periods ended January 1, 2017 and December 27, 2015 is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

    

January 1,

    

December 27,

    

January 1,

    

December 27,

 

 

 

2017

 

2015

 

2017

 

2015

 

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
20,042

 

$
17,113

 

$
39,374

 

$
34,182

 

3DMT Group

 

 
6,810

 

 
5,149

 

 
12,950

 

 
10,205

 

Flanges and Fittings Group

 

 
1,191

 

 
1,149

 

 
2,304

 

 
2,321

 

Wireless Group

 

 
157

 

 
426

 

 
398

 

 
760

 

Consolidated sales

 

$
28,200

 

$
23,837

 

$
55,026

 

$
47,468

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
18,506

 

$
16,316

 

$
35,941

 

$
32,577

 

3DMT Group

 

 
7,483

 

 
5,303

 

 
14,306

 

 
10,512

 

Flanges and Fittings Group

 

 
1,032

 

 
1,104

 

 
2,015

 

 
2,072

 

Wireless Group

 

 
180

 

 
339

 

 
425

 

 
627

 

Consolidated operating costs

 

$
27,201

 

$
23,062

 

$
52,687

 

$
45,788

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Precision Components Group

 

$
1,536

 

$
797

 

$
3,433

 

$
1,605

 

3DMT Group

 

 
(673)

 

 
(154)

 

 
(1,356)

 

 
(307)

 

Flanges and Fittings Group

 

 
159

 

 
45

 

 
289

 

 
249

 

Wireless Group

 

 
(23)

 

 
87

 

 
(27)

 

 
133

 

Corporate (1)

 

 
(996)

 

 
(771)

 

 
(2,384)

 

 
(1,579)

 

Total segment operating income (loss)

 

$
3

 

$
4

 

$
(45)

 

$
101

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 
(1,030)

 

 
(1,126)

 

 
(2,137)

 

 
(2,266)

 

Loss on extinguishment of debt

 

 

 —

 

 

 —

 

 
(723)

 

 

 —

 

Other income, net

 

 
837

 

 
91

 

 
804

 

 
94

 

Non-operating expense

 

 
(193)

 

 
(1,035)

 

 
(2,056)

 

 
(2,172)

 

Consolidated loss before income taxes and non-controlling interest

 

$
(190)

 

$
(1,031)

 

$
(2,101)

 

$
(2,071)

 

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