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BUSINESS SEGMENT INFORMATION
 6 Months Ended
Jun. 28, 2014
BUSINESS SEGMENT INFORMATION  
BUSINESS SEGMENT INFORMATION

NOTE 15BUSINESS 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 Photonics Group, its Lasers Group and its Optics Group.

 

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

 

(In thousands)

 

Photonics

 

Lasers

 

Optics

 

Total

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 28, 2014:

 

 

 

 

 

 

 

 

 

Sales to external customers

 

  $
63,466 

 

  $
47,113 

 

  $
42,653 

 

  $
153,232 

 

Segment income

 

  $
14,400 

 

  $
6,148 

 

  $
4,989 

 

  $
25,537 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 29, 2013:

 

 

 

 

 

 

 

 

 

Sales to external customers

 

  $
55,449 

 

  $
39,423 

 

  $
39,362 

 

  $
134,234 

 

Segment income

 

  $
10,767 

 

  $
4,225 

 

  $
1,875 

 

  $
16,867 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 28, 2014:

 

 

 

 

 

 

 

 

 

Sales to external customers

 

  $
122,936 

 

  $
93,587 

 

  $
83,599 

 

  $
300,122 

 

Segment income

 

  $
27,946 

 

  $
11,728 

 

  $
9,545 

 

  $
49,219 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 29, 2013:

 

 

 

 

 

 

 

 

 

Sales to external customers

 

  $
113,816 

 

  $
78,308 

 

  $
74,717 

 

  $
266,841 

 

Segment income

 

  $
23,333 

 

  $
7,358 

 

  $
2,575 

 

  $
33,266 

 

 

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

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 28,

 

June 29,

 

June 28,

 

June 29,

 

(In thousands)

 

2014

 

2013

 

2014

 

2013

 

Segment income

 

  $
25,537 

 

  $
16,867 

 

  $
49,219 

 

  $
33,266 

 

Unallocated operating expenses

 
(12,052)

 
(11,274)

 
(23,619)

 
(23,250)

 

Gain on sale of assets

 

-

 

-

 
411 

 

-

 

Interest and other expense, net

 
(658)

 
(2,042)

 
(1,634)

 
(4,179)

 

 

 

  $
12,827 

 

  $
3,551 

 

  $
24,377 

 

  $
5,837