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Segment Information
6 Months Ended
Jul. 01, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
VPG reports in three product segments: the Foil Technology Products segment, the Force Sensors segment, and the Weighing and Control Systems segment. The Foil Technology Products reporting segment is comprised of the foil resistor and strain gage operating segments. The Force Sensors reporting segment is comprised of transducers, load cells and modules. The Weighing and Control Systems reporting segment is comprised of instruments, complete systems for process control, and on-board weighing applications.
VPG evaluates reporting segment performance based on multiple performance measures including revenues, gross profits and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring costs, acquisition costs, and other items is meaningful because it provides insight with respect to the intrinsic operating results of VPG. The following table sets forth reporting segment information (in thousands):
 
Fiscal quarter ended
 
Six fiscal months ended
 
July 1, 2017
 
July 2, 2016
 
July 1, 2017
 
July 2, 2016
Net third-party revenues:
 
 
 
 
 
 
 
Foil Technology Products
$
29,306

 
$
25,359

 
$
57,070

 
$
51,678

Force Sensors
15,656

 
15,396

 
31,124

 
30,234

Weighing and Control Systems
17,357

 
17,241

 
33,912

 
32,713

Total
$
62,319

 
$
57,996

 
$
122,106

 
$
114,625

 
 
 
 
 
 
 
 
Gross profit:
 
 
 
 
 
 
 
Foil Technology Products
$
12,275

 
$
9,326

 
$
23,774

 
$
20,453

Force Sensors
4,527

 
4,460

 
8,218

 
7,187

Weighing and Control Systems
7,957

 
7,709

 
15,284

 
13,630

Total
$
24,759

 
$
21,495

 
$
47,276

 
$
41,270

 
 
 
 
 
 
 
 
Reconciliation of segment operating income to consolidated results:
 
 
 
 
 
 
 
Foil Technology Products
$
6,854

 
$
4,181

 
$
12,917

 
$
10,945

Force Sensors
2,297

 
2,212

 
3,678

 
2,616

Weighing and Control Systems
3,617

 
2,925

 
6,699

 
4,117

Unallocated G&A expenses
(6,809
)
 
(6,267
)
 
(13,044
)
 
(12,900
)
Acquisition costs

 
(352
)
 

 
(414
)
Restructuring costs
(315
)
 
(1,011
)
 
(869
)
 
(1,686
)
Consolidated condensed operating income
$
5,644

 
$
1,688

 
$
9,381

 
$
2,678

 
 
 
 
 
 
 
 
Acquisition costs:
 
 
 
 
 
 
 
Foil Technology Products
$

 
$
(341
)
 
$

 
$
(391
)
Weighing and Control Systems

 
(11
)
 

 
(23
)
 
$

 
$
(352
)
 
$

 
$
(414
)
 
 
 
 
 
 
 
 
Restructuring costs:
 
 
 
 
 
 
 
Foil Technology Products
$
(12
)
 
$
(221
)
 
$
(138
)
 
$
(718
)
Force Sensors
(85
)
 
(297
)
 
(262
)
 
(301
)
Weighing and Control Systems
(39
)
 
(379
)
 
(287
)
 
(532
)
Corporate/Other
(179
)
 
(114
)
 
(182
)
 
(135
)
 
$
(315
)
 
$
(1,011
)
 
$
(869
)
 
$
(1,686
)

Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. Intersegment sales from the Foil Technology Products segment to the Force Sensors segment and Weighing and Control Systems segment were $0.6 million and $0.6 million during the fiscal quarters ended July 1, 2017 and July 2, 2016, respectively and $1.4 million and $1.0 million during the six fiscal months ended July 1, 2017 and July 2, 2016, respectively. Intersegment sales from the Force Sensors segment to the Foil Technology Products segment and Weighing and Control Systems segment were $0.4 million and $0.6 million during the fiscal quarters ended July 1, 2017 and July 2, 2016, respectively, and $0.8 million and $1.0 million during the six fiscal months ended July 1, 2017 and July 2, 2016, respectively. Intersegment sales from the Weighing and Control Systems segment to the Force Sensors segment were $0.2 million and $0.3 million, during the fiscal quarters ended, July 1, 2017 and July 2, 2016 and $0.3 million and $0.5 million during the six fiscal months ended July 1, 2017 and July 2, 2016, respectively.