Segment Information

9 Months Ended

Apr. 02, 2017

Segment Information

Segment Information

NOTE 13 – Segment Information

The Company’s operations were classified into four reportable business segments:  Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group.  On March 31, 2017, the Company ceased its wireless operations, which comprised the 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 metal 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 focused on wireless broadband technology. 

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 nine month periods ended April 2, 2017 and March 27, 2016 is as follows (in thousands):

	Three months ended				Nine months ended
	April 2,		March 27,		April 2,		March 27,
	2017		2016		2017		2016
Sales:
Precision Components Group	$	19,878	$	17,443	$	59,252	$	51,626
3DMT Group		4,292		5,701		17,242		15,905
Flanges and Fittings Group		1,272		1,244		3,576		3,565
Wireless Group		30		497		428		1,257
Consolidated sales	$	25,472	$	24,885	$	80,498	$	72,353
Operating costs:
Precision Components Group	$	19,801	$	15,697	$	55,741	$	48,284
3DMT Group		5,132		6,142		19,438		16,643
Flanges and Fittings Group		1,143		1,115		3,158		3,187
Wireless Group		119		404		545		1,031
Consolidated operating costs	$	26,195	$	23,358	$	78,882	$	69,145
Segment operating income (loss):
Precision Components Group	$	77	$	1,746	$	3,511	$	3,342
3DMT Group		(840)		(441)		(2,196)		(738)
Flanges and Fittings Group		129		129		418		378
Wireless Group		(89)		93		(117)		226
Corporate (1)		(1,161)		(1,200)		(3,546)		(2,779)
Total segment operating (loss) income	$	(1,884)	$	327	$	(1,930)	$	429
Interest expense, net		(865)		(1,106)		(3,002)		(3,372)
Loss on extinguishment of debt		—		—		(723)		—
Other income (expense), net		88		(23)		893		71
Non-operating expense		(777)		(1,129)		(2,832)		(3,301)
Consolidated loss before income taxes and non-controlling interest	$	(2,661)	$	(802)	$	(4,762)	$	(2,872)

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