Business Segment Information

6 Months Ended

Jun. 30, 2012

Business Segment Information [Abstract]

BUSINESS SEGMENT INFORMATION

NOTE 14 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 June 30, 2012:
Sales to external customers	$	82,858	$	44,734	$	26,063	$	153,655
Segment income	$	18,987	$	2,878	$	1,905	$	23,770
Three months ended July 2, 2011:
Sales to external customers	$	85,415	$	44,717	$	—	$	130,132
Segment income	$	20,746	$	4,045	$	—	$	24,791
Six months ended June 30, 2012:
Sales to external customers	$	161,912	$	93,961	$	54,949	$	310,822
Segment income	$	34,982	$	9,534	$	4,170	$	48,686
Six months ended July 2, 2011:
Sales to external customers	$	167,579	$	90,964	$	—	$	258,543
Segment income	$	40,411	$	8,849	$	—	$	49,260

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

	Three Months Ended						Six Months Ended
(In thousands)	June 30, 2012			July 2, 2011			June 30, 2012			July 2, 2011
Segment income	$	23,770		$	24,791		$	48,686		$	49,260
Gain on sale of investment		5,298			—			5,298			—
Foreign currency translation gain from dissolution of subsidiary		—			—			—			7,198
Unallocated operating expenses		(12,425	)		(8,054	)		(27,131	)		(15,557	)
Interest and other expense, net		(2,828	)		(1,624	)		(5,015	)		(4,029	)
	$	13,815		$	15,113		$	21,838		$	36,872