BUSINESS SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2012

BUSINESS SEGMENT INFORMATION [Abstract]

BUSINESS SEGMENT INFORMATION

17.  BUSINESS SEGMENT INFORMATION

The Company is organized into two reportable segments: the Aerostructures segment and the Engineering Services segment. The Aerostructures segment, which includes the recently acquired Valent, fabricates, machines, finishes, integrates, assembles and kits formed and machined close tolerance aluminum, specialty alloy and composite components for use by the aerospace and defense industries. The Engineering Services segment, which includes the recently acquired TASS, provides a complete range of design, engineering and program management services supporting aircraft lifecycles from conceptual design, analysis and certification through production support, fleet support and service life extensions via a complete turnkey engineering solution.

Corporate assets, liabilities and expenses related to the Company's corporate offices, except for interest expense and income taxes, primarily support the Aerostructures segment. The table below presents information about reported segments on the basis used internally to evaluate segment performance:

	December 31,
	2012			2011			2010
Net sales:
Aerostructures	$	174,983		$	168,145		$	149,259
Engineering Services		105,607			87,527			74,574
Eliminations		(1,961	)		(1,632	)		(477	)
	$	278,629		$	254,040		$	223,356
Gross profit
Aerostructures	$	47,947		$	44,966		$	38,637
Engineering Services		20,270			14,615			12,788
Eliminations		91			69			75
	$	68,308		$	59,650		$	51,500
Income from operations:
Aerostructures	$	15,484		$	18,334		$	13,631
Engineering Services		10,480			6,522			5,359
Eliminations		91			68			75
	$	26,055		$	24,924		$	19,065
Depreciation, amortization and other charges:
Aerostructures (1)	$	5,532		$	6,013		$	4,843
Engineering Services		2,462			2,391			2,446
	$	7,994		$	8,404		$	7,289

(1) Includes a $1,163 charge for impairment of intangible in 2011.

Interest expense:
Aerostructures	$	(23	)	$	(5	)	$	(18	)
Engineering Services		(25	)		(12	)		(14	)
Corporate (2)		(1,723	)		(652	)		(664	)
	$	(1,771	)	$	(669	)	$	(696	)

(2) Includes a $580 charge for deferred financing costs for the closed credit facility in 2012.

Capital expenditures:
Aerostructures (3)	$	18,649	$	8,716	$	6,230
Engineering Services		880		1,551		921
	$	19,529	$	10,267	$	7,151
Total assets:
Aerostructures	$	446,902	$	132,032
Engineering		81,062		72,574
	$	527,964	$	204,606

(3) Includes $746 for a capital lease for equipment in 2012.