| OPERATING SEGMENT INFORMATION |
NOTE 11 — OPERATING SEGMENT INFORMATION
The Company has two reportable segments: firearms and castings. The firearms segment manufactures and sells rifles, pistols, and revolvers principally to a select number of independent wholesale distributors primarily located in the United States. The castings segment manufactures and sells steel investment castings and metal injection molding parts.
Selected operating segment financial information follows:
|
|
|
Three Months Ended |
|
Nine Months Ended | |
(in thousands) |
|
October 1,
2022 |
|
October 2,
2021 |
|
October 1,
2022 |
|
October 2,
2021 | |
Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
$ |
138,771 |
|
|
$ |
177,529 |
|
|
$ |
444,615 |
|
|
$ |
560,578 |
| |
Castings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Unaffiliated |
|
|
619 |
|
|
|
717 |
|
|
|
2,003 |
|
|
|
2,116 |
| |
Intersegment |
|
|
4,453 |
|
|
|
5,774 |
|
|
|
13,781 |
|
|
|
19,995 |
| |
|
|
|
5,072 |
|
|
|
6,491 |
|
|
|
15,784 |
|
|
|
22,111 |
| |
Eliminations |
|
|
(4,453 |
) |
|
|
(5,774 |
) |
|
|
(13,781 |
) |
|
|
(19,995 |
) | |
|
|
$ |
139,390 |
|
|
$ |
178,246 |
|
|
$ |
446,618 |
|
|
$ |
562,694 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Income (Loss) Before Income Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
$ |
21,339 |
|
|
$ |
48,139 |
|
|
$ |
88,130 |
|
|
|
$161,941 |
| |
Castings |
|
|
(1,029 |
) |
|
|
(753 |
) |
|
|
(2,754 |
) |
|
|
(2,084 |
) | |
Corporate |
|
|
681 |
|
|
|
638 |
|
|
|
1,238 |
|
|
|
823 |
| |
|
|
$ |
20,991 |
|
|
$ |
48,024 |
|
|
$ |
86,614 |
|
|
|
$160,680 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Depreciation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
$ |
5,815 |
|
|
$ |
6,466 |
|
|
$ |
17,430 |
|
|
|
$19,650 |
| |
Castings |
|
|
574 |
|
|
|
712 |
|
|
|
1,736 |
|
|
|
2,135 |
| |
|
|
$ |
6,389 |
|
|
$ |
7,178 |
|
|
$ |
19,166 |
|
|
|
$21,785 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Capital Expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
$ |
2,324 |
|
|
$ |
3,734 |
|
|
$ |
15,971 |
|
|
|
$12,681 |
| |
Castings |
|
|
552 |
|
|
|
419 |
|
|
|
1,235 |
|
|
|
2,936 |
| |
|
|
$ |
2,876 |
|
|
$ |
4,153 |
|
|
$ |
17,206 |
|
|
|
$15,617 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
October 1, 2022 |
|
|
|
December 31, 2021 | |
Identifiable Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
|
|
|
|
|
|
|
|
$ |
205,411 |
|
|
$ |
188,290 |
| |
Castings |
|
|
|
|
|
|
|
|
|
|
12,723 |
|
|
|
13,889 |
| |
Corporate |
|
|
|
|
|
|
|
|
|
|
242,768 |
|
|
|
240,164 |
| |
|
|
|
|
|
|
|
|
|
|
$ |
460,902 |
|
|
$ |
442,343 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Goodwill |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Firearms |
|
|
|
|
|
|
|
|
|
$ |
3,055 |
|
|
$ |
3,055 |
| |
Castings |
|
|
|
|
|
|
|
|
|
|
209 |
|
|
|
209 |
| |
|
|
|
|
|
|
|
|
|
|
$ |
3,264 |
|
|
$ |
3,264 |
|
|