Business Segment Information

12 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Business Segment Information

BUSINESS SEGMENT INFORMATION

Our Chief Executive Officer (the Chief Operating Decision Maker) regularly reviews financial information for our two operating segments, Test and Sensors. Test provides testing equipment, systems and services to the ground vehicles, materials and structures sectors. Sensors provides high performance sensors for acceleration, position, vibration, motion, pressure and force measurement. 

In evaluating each segment's performance, our Chief Executive Officer focuses on income from operations. This measure excludes interest income and expense, income taxes and other non-operating items. Corporate expenses, including costs associated with various support functions such as human resources, information technology, legal, finance, and accounting, and general and administrative costs are allocated to the reportable segments on the basis of revenue. 

On January 5, 2017, we announced the division of our Test segment into two separate business units, "Material Test Systems" and "Vehicles and Structure Test Systems." The division of our Test segment will result in us having three operating segments once discrete financial information is made available to our Chief Operating Decision Maker. We will continue to report only the Test and Sensors segments until such time. We continue to evaluate the timing of such implementation.

Financial information by reportable segment is as follows:

(in thousands)	2017		2016		2015
Revenue
Test	$	504,087	$	512,265	$	462,880
Sensors	283,868		137,882		101,054
Total revenue	$	787,955	$	650,147	$	563,934
Income from Operations
Test	$	28,622	$	40,660	$	42,285
Sensors	26,206		1,103		19,211
Total income from operations	$	54,828	$	41,763	$	61,496
Identifiable Assets
Test	$	374,698	$	395,067	$	369,515
Sensors	814,994		792,953		91,316
Total identifiable assets	$	1,189,692	$	1,188,020	$	460,831
Goodwill
Test	$	25,109	$	25,022	$	26,243
Sensors	344,653		344,678		1,434
Total goodwill	$	369,762	$	369,700	$	27,677
Capital Expenditures
Test	$	13,281	$	17,570	$	14,652
Sensors	4,517		3,236		3,793
Total capital expenditures	$	17,798	$	20,806	$	18,445
Depreciation and Amortization
Test	$	17,275	$	17,279	$	18,342
Sensors	18,248		6,798		2,764
Total depreciation and amortization	$	35,523	$	24,077	$	21,106

Geographic information is as follows:

(in thousands)	2017		2016		2015
Revenue
U.S.	$	246,679	$	154,707	$	151,288
Europe	192,491		163,944		149,308
China	174,044		152,264		131,727
Asia, excluding China	142,644		148,056		109,376
Americas, excluding U.S.	32,097		31,176		22,235
Total revenue	$	787,955	$	650,147	$	563,934
Property and Equipment, Net
U.S.	$	78,080	$	79,794	$	59,312
Europe	15,296		13,695		13,071
China	5,542		5,630		6,260
Asia, excluding China	1,012		1,670		1,811
Total property and equipment, net	$	99,930	$	100,789	$	80,454

Revenue by geographic area is presented based on customer location. The U.S. and China were the only countries with revenue in excess of 10% of total revenue during fiscal years 2017, 2016 and 2015. No single customer accounted for 10% or more of consolidated revenue for fiscal years 2017, 2016 and 2015. Revenue is not reported for each of our products and services because it is impracticable to do so.