Business Segment Information

6 Months Ended

Jun. 29, 2013

Business Segment Information

Note 10. Business Segment Information

We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, DAS and DLT, each of which is a reportable operating segment.

Financial information by reportable segment was as follows:

	(In thousands)									(In thousands)
	Three Months Ended									Six Months Ended
	%			June 29,			June 30,			%			June 29,			June 30,
	Change			2013			2012			Change			2013			2012
Net Sales
DAS		9.2	%	$	83,992		$	76,890			3.7	%	$	156,697		$	151,177
DLT		(0.3	)%		107,480			107,815			(3.3	)%		210,690			217,871
Total Net Sales		3.7	%	$	191,472		$	184,705			(0.5	)%	$	367,387		$	369,048
Segment Operating Income
DAS				$	9,502		$	7,574					$	16,133		$	14,165
DLT (2)					11,242			10,486						19,176			18,788
					20,744			18,060						35,309			32,953
Corporate General and Administrative Expenses (1)(2)(3)					(5,701	)		(4,048	)					(9,964	)		(7,082	)
Total Operating Income				$	15,043		$	14,012					$	25,345		$	25,871
Depreciation and Amortization Expenses
DAS				$	2,438		$	2,241					$	4,765		$	4,297
DLT					4,660			4,732						9,323			9,429
Corporate Administration					42			30						85			81
Total Depreciation and Amortization Expenses				$	7,140		$	7,003					$	14,173		$	13,807
Capital Expenditures
DAS				$	1,495		$	1,829					$	3,049		$	4,281
DLT					1,128			2,012						2,180			4,444
Corporate Administration					18			5						24			38
Total Capital Expenditures				$	2,641		$	3,846					$	5,253		$	8,763

⁽¹⁾  Includes costs not allocated to either the DLT or DAS operating segments.

⁽²⁾  The three- and six-month periods of 2012 include merger-related transaction costs of $0.1 million and $0.3 million, respectively, in Corporate General and Administrative Expenses and $0.2 million and $0.4 million, respectively, in DLT resulting from a change in control provision for certain key executives and employees arising in connection with the acquisition of LaBarge Inc. in June 2011.

⁽³⁾ The three- and six-month periods of 2013 include $0.9 million and $1.1 million, respectively, of workers’ compensation insurance expenses included in gross profit and not allocated to the operating segments. The three- and six-month periods of 2012 include $0.4 million and $0.6 million, respectively, of workers’ compensation insurance expenses included in gross profit and not allocated to the operating segments.

Segment assets include assets directly identifiable with each segment. Corporate Administration assets include assets not specifically identified with a business segment, including cash.

	(In thousands)
	June 29,		December 31,
	2013		2012
Total Assets
DAS	$	258,661	$	248,326
DLT		455,950		465,217
Corporate Administration		58,215		71,531
Total Assets	$	772,826	$	785,074
Goodwill and Intangibles
DAS	$	66,336	$	67,459
DLT		266,515		270,837
Total Goodwill and Intangibles	$	332,851	$	338,296