v3.25.2
Segment Information
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company reports segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Maker (“CODM”) for making decisions and assessing performance as the source of the Company’s reportable segments. The CODM, which is the Company’s Chief Executive Officer, allocates resources and assesses the performance of each operating segment based on historical and potential future product sales, gross margin associated with those sales, and operating profit (loss) before interest, taxes, and corporate expenses. The Company has determined its reportable segments to be Aerospace and Test Systems based on the information used by the CODM.
Segment information and reconciliations to consolidated amounts are as follows:
Six Months EndedThree Months Ended
(In thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Sales:
Aerospace$385,035 $340,623 $193,647 $176,948 
Less Inter-segment Sales(34)(42)(21)(5)
Total Aerospace Sales385,001 340,581 193,626 176,943 
Test Systems25,933 42,607 11,341 21,171 
Less Inter-segment Sales(320)— (289)— 
Total Test Systems Sales25,613 42,607 11,052 21,171 
Total Consolidated Sales410,614 383,188 204,678 198,114 
Less1
Cost of Products Sold:
Aerospace271,627 242,181 138,735 122,924 
70.6 %71.1 %71.7 %69.5 %
Test Systems25,311 37,925 13,116 19,622 
98.8 %89.0 %118.7 %92.7 %
Other Segment Items2
Aerospace73,071 67,023 36,852 34,739 
Test Systems9,235 13,097 4,646 6,885 
Operating Profit (Loss) and Margins:
Aerospace40,303 31,377 18,039 19,280 
10.5 %9.2 %9.3 %10.9 %
Test Systems(8,933)(8,415)(6,710)(5,336)
(34.9)%(19.8)%(60.7)%(25.2)%
Total Operating Profit31,370 22,962 11,329 13,944 
7.6 %6.0 %5.5 %7.0 %
Deductions from Segment Measure of Operating Profit:
Interest Expense, Net of Interest Income
6,247 11,615 3,097 5,856 
Corporate Expenses and Other
13,098 14,617 6,381 6,829 
Income (Loss) Before Income Taxes$12,025 $(3,270)$1,851 $1,259 
1 The significant expenses and amounts presented align with the segment-level information that is regularly provided to the CODM. Inter-segment expenses are included within the amounts shown.
2 Other segment items include Selling, General and Administrative Expenses, Research and Development Expenses, and sublease and rental income.
(In thousands)
June 28, 2025December 31, 2024
Total Assets:
Aerospace
$517,145 $498,528 
Test Systems
111,046 128,828 
Corporate
18,497 21,408 
Total Assets
$646,688 $648,764 
Six Months EndedThree Months Ended
(In thousands)
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Depreciation and Amortization:
Aerospace
$8,955 $9,966 $4,457 $4,945 
Test Systems
1,990 2,453 912 1,202 
Corporate
21 112 9 56 
Total Depreciation and Amortization$10,966 $12,531 $5,378 $6,203 
Capital Expenditures:
Aerospace
$6,525 $2,799 $4,443 $1,329 
Test Systems
185 585 162 467 
Corporate
— 10 — — 
Total Capital Expenditures$6,710 $3,394 $4,605 $1,796