v3.26.1
Note 17 - Industry Segment Information
12 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

17. Industry Segment Information

 

The company operates in the following four reportable segments organized around the types of products sold. Its operating segments contain similar products and economic characteristics, and shared similar types of customers, and production and distribution methods. The Company has determined that its CEO is its Chief Operating Decision Maker (CODM) who is responsible for assessing performance and allocating resources. The CODM primarily evaluates segment performance based on net revenue and does not regularly review specific expense categories at the segment level. Instead, expenses are managed and assessed on a consolidated basis rather than by individual segment. While certain operating expenses may be incurred at the segment level, these are not regularly reviewed by the CODM when evaluating performance or allocating resources. As a result, the Company does not allocate or disclose certain expense details by segment. The CODM primarily reviews these profit measures in comparison to forecasts, trends, key performance targets, and results of industry peers to assess profitability, identify areas for improvement, and make strategic decisions regarding investments and resource allocation within each segment.

 

• Electronics – manufacturing and selling of electronic components for applications throughout the end-user market spectrum;

• Aerospace & Defense – provides net and near net formed single-source customized solutions in the manufacture of engineered components for the aviation, aerospace, defense, energy, industrial, medical, marine, oil and gas, and manned and unmanned space markets;

• Scientific – sells specialty temperature-controlled equipment for the medical, scientific, pharmaceutical, biotech and industrial markets;

• Engraving & Hydraulics – provides mold texturing, slush molding tools, project management and design services, roll engraving, hygiene product tooling, low observation vents for stealth aircraft, and process machinery for a number of industries and single and double acting telescopic and piston rod hydraulic cylinders;

 

Net sales include only transactions with unaffiliated customers and include no significant intersegment or export sales. Operating income by segment and geographic area excludes general corporate and interest expenses. Assets of the Corporate segment consist primarily of cash, office equipment, and other non-current assets.

 

Given the nature of its corporate expenses, the Company concluded that it would not presently be appropriate to allocate the expenses associated with corporate activities to our operating segments. These corporate expenses include the costs for the corporate headquarters, salaries and wages for the personnel in corporate, professional fees related to corporate matters and compliance efforts, stock-based compensation and post-retirement benefits related to our corporate executives, officers and directors, and other compliance related costs. The Company has a process to allocate and recharge certain direct costs to the operating segments when such direct costs are administered and paid at corporate. Such direct expenses that are recharged on an intercompany basis each month include such costs as insurance, workers’ compensation programs, and audit fees. The accounting policies applied by the reportable segments are the same as those described in the Summary of Accounting Policies footnote to the consolidated financial statements. There are no differences in accounting policies which would be necessary for an understanding of the reported segment information.

 

  

2026

 

(in thousands)

 

Electronics

  

Aerospace & Defense

  

Scientific

  

Engraving & Hydraulics

  

Total reportable segments

  

Other

  

Total

 

Net Sales

 $475,036  $135,031  $75,748  $182,329  $868,144  $23,453  $891,597 

Segment Expenses

  (353,697)  (113,079)  (57,713)  (154,925)  (679,414)  (19,407)  (698,821)

Segment operating income

  121,339   21,952   18,035   27,404   188,730   4,046   192,776 

Corporate

                          (40,032)

Gain on sale of business

                          57,085 

Restructuring costs

                          (12,186)

Deal related costs

                          (4,059)

Income From Operations

                          193,584 

Interest expense

                          30,712 

Other non-operating expense, net

                          (68)

Income from continuing operations before income taxes

                         $162,940 

 

  

2025

 

(in thousands)

 

Electronics

  

Aerospace & Defense

  

Scientific

  

Engraving & Hydraulics

  

Total reportable segments

  

Other

  

Total

 

Net Sales

 $400,130  $102,595  $72,380  $179,303  $754,408  $35,699  $790,107 

Segment Expenses

  (312,203)  (87,167)  (54,910)  (154,130)  (608,410)  (28,384)  (636,794)

Segment operating income

  87,927   15,428   17,470   25,173   145,998   7,315   153,313 

Corporate

                          (31,427)

Restructuring costs

                          (6,903)

Deal related costs

                          (21,434)

Income From Operations

                          93,549 

Interest expense

                          23,931 

Other non-operating expense, net

                          808 

Income from continuing operations before income taxes

                         $68,810 

 

  

2024

 

(in thousands)

 

Electronics

  

Aerospace & Defense

  

Scientific

  

Engraving & Hydraulics

  

Total reportable segments

  

Other

  

Total

 

Net Sales

 $321,956  $83,476  $68,931  $206,034  $680,397  $40,238  $720,635 

Segment Expenses

  (257,926)  (68,260)  (49,931)  (168,990)  (545,107)  (30,943)  (576,050)

Segment operating income

  64,030   15,216   19,000   37,044   135,290   9,295   144,585 

Corporate

                          (32,183)

Restructuring costs

                          (8,206)

Gain on sale of business

                          274 

Deal related costs

                          (2,622)

Other operating expense

                          (110)

Income From Operations

                          101,738 

Interest expense

                          4,544 

Other non-operating expense, net

                          2,071 

Income from continuing operations before income taxes

                         $95,123 

 

(in thousands)

 

Capital Expenditures

  

Depreciation and Amortization

 
  

2026

  

2025

  

2024

  

2026

  

2025

  

2024

 

Electronics

 $8,568  $10,062  $6,844  $22,054  $19,936  $12,722 

Aerospace & Defense

  3,349   6,795   1,495   6,189   4,605   3,657 

Scientific

  778   780   118   1,246   1,255   1,314 

Engraving & Hydraulics

  11,806   8,098   9,663   8,619   8,779   9,561 

Other

  550   1,288   1,405   421   543   493 

Corporate

  148   4   462   124   320   393 

Total

 $25,199  $27,027  $19,987  $38,653  $35,438  $28,140 

 

  

Identifiable Assets

 
  

2026

  

2025

 

Electronics

 $913,923  $944,506 

Aerospace & Defense

  207,202   219,754 

Scientific

  108,701   108,402 

Engraving & Hydraulics

  338,580   264,143 

Other

  -   14,255 

Corporate

  17,302   15,820 

Total

 $1,585,708  $1,566,880 

 

Tangible Long-lived assets

 

2026

  

2025

 

United States

 $72,117  $74,525 

Asia Pacific

  41,677   44,427 

EMEA (1)

  34,667   36,731 

Other Americas

  4,563   4,681 

Total

 $153,024  $160,364 

 

 

(1)

EMEA consists primarily of Europe, Middle East and S. Africa.