v3.26.1
Segment Information
 6 Months Ended
Jul. 04, 2026
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 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)July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Sales:
Aerospace$451,135 $385,035 $237,292 $193,647 
Less Inter-segment Sales(23)(34)— (21)
Total Aerospace Sales451,112 385,001 237,292 193,626 
Test Systems39,498 25,933 22,674 11,341 
Less Inter-segment Sales(34)(320)(9)(289)
Total Test Systems Sales39,464 25,613 22,665 11,052 
Total Consolidated Sales490,576 410,614 259,957 204,678 
Less1
Cost of Products Sold:
Aerospace298,267 271,627 155,140 138,735 
66.1 %70.6 %65.4 %71.7 %
Test Systems30,279 25,311 17,920 13,116 
76.7 %98.8 %79.1 %118.7 %
Other Segment Items2
Aerospace69,249 73,071 33,888 36,852 
Test Systems8,190 9,235 4,153 4,646 
Operating Profit and Margins:
Aerospace83,596 40,303 48,264 18,039 
18.5 %10.5 %20.3 %9.3 %
Test Systems3
995 (8,933)592 (6,710)
2.5 %(34.9)%2.6 %(60.7)%
Total Operating Profit84,591 31,370 48,856 11,329 
17.2 %7.6 %18.8 %5.5 %
Deductions from Segment Measure of Operating Profit:
Interest Expense, Net of Interest Income
4,668 6,247 2,332 3,097 
Corporate Expenses and Other
17,284 13,098 8,670 6,381 
Income Before Income Taxes$62,639 $12,025 $37,854 $1,851 
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.
3 In the three and six months ended June 28, 2025, revisions of estimated costs to complete certain long-term mass transit Test contracts had an adverse impact to operating profit of $6.9 million and $8.8 million, respectively.
(In thousands)July 4, 2026December 31, 2025
Total Assets:
Aerospace
$614,128 $570,294 
Test Systems
126,664 119,603 
Corporate
20,052 16,781 
Total Assets$760,844 $706,678 
Six Months EndedThree Months Ended
(In thousands)
July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Depreciation and Amortization:
Aerospace
$11,205 $8,955 $5,826 $4,457 
Test Systems
1,002 1,990 497 912 
Corporate
28 21 18 9 
Total Depreciation and Amortization$12,235 $10,966 $6,341 $5,378 
Capital Expenditures:
Aerospace
$16,221 $6,525 $5,490 $4,443 
Test Systems
605 185 176 162 
Corporate
43 — 43 — 
Total Capital Expenditures$16,869 $6,710 $5,709 $4,605