Segment Information

3 Months Ended

Mar. 28, 2020

Below are the sales and operating profit by segment for the three months ended March 28, 2020 and March 30, 2019 and a reconciliation of segment operating profit to income before income taxes. Operating profit is net sales less cost of products sold and other operating expenses excluding interest and corporate expenses. Cost of products sold and other operating expenses are directly identifiable to the respective segment.


	Three Months Ended
(In thousands)	March 28, 2020			March 30, 2019
Sales
Aerospace	$	141,137		$	188,501
Less Intersegment Sales	(67)			—
Total Aerospace Sales	141,070			188,501
Test Systems	16,553			19,724
Less Intersegment Sales	(39)			(51)
Total Test Systems Sales	16,514			19,673
Total Consolidated Sales	$	157,584		$	208,174
Operating (Loss) Profit and Margins
Aerospace	$	(63,145)		$	25,768
	(44.8)		%	13.7		%
Test Systems	722			2,185
	4.4		%	11.1		%
Total Operating (Loss) Profit	(62,423)			27,953
	(39.6)		%	13.4		%
Additions/Deductions from Operating (Loss) Profit
Gain on Sale of Business	—			80,133
Interest Expense, Net of Interest Income	1,333			1,804
Corporate Expenses and Other	5,521			5,287
(Loss) Income Before Income Taxes	$	(69,277)		$	100,995

Total Assets:


(In thousands)	March 28, 2020		December 31, 2019
Aerospace	$	545,378	$	629,371
Test Systems	104,866		110,994
Corporate	199,782		42,351
Total Assets	$	850,026	$	782,716