Business Segments

9 Months Ended

Jun. 30, 2011

Business Segments

Business Segments

9. Business Segments

The Company identifies reportable segments based upon distinct products manufactured and services performed. The Aerospace Component Manufacturing Group consists of the production, heat-treatment, surface-treatment, non-destructive testing and machining of forged components in various steel and titanium alloys utilizing a variety of processes for application principally in the aerospace and power generation industries. The Turbine Component Services and Repair Group consist primarily of the repair and remanufacture of small aerospace turbine engine components. The Repair Group is also involved in precision component machining and industrial coating of turbine engine components. The Applied Surface Concepts Group develops, manufactures and sells selective plating products and provides selective plating contract services for lower volume repair, refurbishment and OEM applications. The Company's reportable segments are separately managed. The following table summarizes certain information regarding segments of the Company's continuing operations:

	Three Months Ended June 30,						Nine Months Ended June 30,
	2011			2010			2011			2010
Net sales:
Aerospace Component Manufacturing Group	$	23,140		$	14,316		$	59,451		$	45,177
Turbine Component Services and Repair Group		2,029			2,005			6,999			6,552
Applied Surface Concepts Group		3,706			3,160			10,625			8,940
Consolidated net sales	$	28,875		$	19,481		$	77,075		$	60,669
Operating income (loss):
Aerospace Component Manufacturing Group	$	3,324		$	1,807		$	8,557		$	7,215
Turbine Component Services and Repair Group		(84	)		(44	)		100			13
Applied Surface Concepts Group		326			97			893			88
Corporate unallocated expenses		(776	)		(499	)		(2,095	)		(1,526	)
Consolidated operating income		2,790			1,361			7,455			5,790
Interest expense, net		19			3			50			13
Foreign currency exchange loss (gain), net		10			(32	)		19			(48	)
Other (income) expense, net		(118	)		(117	)		(352	)		(352	)
Consolidated income before income tax provision	$	2,879		$	1,507		$	7,738		$	6,177
Depreciation and amortization expense:
Aerospace Component Manufacturing Group	$	844		$	264		$	2,389		$	755
Turbine Component Services and Repair Group		75			83			223			251
Applied Surface Concepts Group		85			89			258			272
Corporate unallocated expenses		57			41			195			105
Consolidated depreciation and amortization expense	$	1,061		$	477		$	3,065		$	1,383
	June 30, 2011			Sept. 30, 2010
Identifiable assets
Aerospace Component Manufacturing Group	$	56,227		$	31,617
Turbine Component Services and Repair Group		4,188			4,642
Applied Surface Concepts Group		6,813			6,037
Corporate		11,827			27,354
Consolidated total assets	$	79,055		$	69,650

As a result of the acquisition of T&W Forge, as discussed more fully in note 10, the Company has a new customer that accounted for 12% of the Company's consolidated net sales during the first nine months of fiscal 2011.