Business Segments

6 Months Ended

Mar. 31, 2013

Business Segments

9. Business Segments

The Company identifies reportable segments based upon distinct products manufactured and services performed. The Forged Components Group (“Forge Group”) consists of the production, heat-treatment, surface-treatment, non-destructive testing and some machining of both conventional and precision forged components in various steel, titanium and aluminum alloys utilizing a variety of processes for application principally in the aerospace and power generation industries. The Turbine Component Services and Repair Group (“Repair Group”) consists primarily of the repair and remanufacture of small aerospace and industrial turbine engine components, and is also involved in providing precision component machining and industrial coating of turbine engine components. 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						Six Months Ended
	March 31,						March 31,
	2013			2012			2013			2012
Net sales:
Forged Components Group	$	28,004		$	28,162		$	55,448		$	50,850
Turbine Component Services and Repair Group		1,590			1,981			2,846			4,019
Consolidated net sales	$	29,594		$	30,143		$	58,294		$	54,869
Operating income (loss):
Forged Components Group	$	3,735		$	3,607		$	7,283		$	5,794
Turbine Component Services and Repair Group		(554	)		(328	)		(1,098	)		(461	)
Corporate unallocated expenses		(1,222	)		(1,027	)		(2,779	)		(1,906	)
Consolidated operating income		1,959			2,252			3,406			3,427
Interest expense, net		70			130			171			220
Foreign currency exchange (gain) loss, net		(7	)		10			0			(3	)
Other income, net		(109	)		(117	)		(186	)		(234	)
Consolidated income from continuing operations before income tax provision	$	2,005		$	2,229		$	3,421		$	3,444
Depreciation and amortization expense:
Forged Components Group	$	1,298		$	1,363		$	2,662		$	2,792
Turbine Component Services and Repair Group		80			87			161			164
Corporate unallocated expenses		89			74			164			148
Consolidated depreciation and amortization expense	$	1,467		$	1,524		$	2,987		$	3,104
LIFO expense (income) for the Forged Components Group	$	(229	)	$	269		$	(407	)	$	428

	March 31, 2013		September 30, 2012
Identifiable assets:
Forged Components Group	$	87,916	$	84,519
Turbine Component Services and Repair Group		3,443		3,480
Corporate		11,744		12,063
Assets of business held for sale		0		6,483
Consolidated total assets	$	103,103	$	106,545