BUSINESS SEGMENT INFORMATION

9 Months Ended

Sep. 29, 2012

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

NOTE 15      BUSINESS SEGMENT INFORMATION

The operating segments reported below are the segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by the Chief Executive Officer, who is the chief operating decision maker, in deciding how to allocate resources and in assessing performance.  The Company develops, manufactures and markets its products within three distinct business segments, its PPT Division, its Lasers Division and its Ophir Division.

The Company measured income reported for each business segment, which included only those costs that were directly attributable to the operations of that segment, and excluded certain unallocated operating expenses, such as corporate overhead and intangible asset amortization, unallocated gains, interest and other expense, net, and income taxes.

(In thousands)	Photonics and Precision Technologies		Lasers		Ophir		Total
Three months ended September 29, 2012:
Sales to external customers	$	76,154	$	42,545	$	24,182	$	142,881
Segment income	$	16,985	$	3,944	$	2,501	$	23,430
Three months ended October 1, 2011:
Sales to external customers	$	78,939	$	46,659	$	-	$	125,598
Segment income	$	17,879	$	3,182	$	-	$	21,061
Nine months ended September 29, 2012:
Sales to external customers	$	238,066	$	136,506	$	79,131	$	453,703
Segment income	$	51,967	$	13,478	$	6,671	$	72,116
Nine months ended October 1, 2011:
Sales to external customers	$	246,518	$	137,623	$	-	$	384,141
Segment income	$	58,290	$	12,031	$	-	$	70,321

The following table reconciles segment income to consolidated income before income taxes:

	Three Months Ended						Nine Months Ended
	September 29,			October 1,			September 29,			October 1,
(In thousands)	2012			2011			2012			2011
Segment income	$	23,430		$	21,061		$	72,116		$	70,321
Gain on sale of investments	950			-			6,248			-
Foreign currency translation gain from dissolution of subsidiary	-			-			-			7,198
Unallocated operating expenses	(10,811		)	(6,847		)	(37,942		)	(22,404		)
Interest and other expense, net	(2,082		)	(2,348		)	(7,097		)	(6,377		)
	$	11,487		$	11,866		$	33,325		$	48,738