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Business Segment Information (Tables) | 6 Months Ended
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Jun. 28, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Segments | The following tables present financial information for the Company's reportable segments:
Three Months Ended June 28, 2025
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 95,947 |  |  | $ | 95,937 |  |  | $ | 63,383 |  |  | $ | 255,267 |
Cost of revenue |  | 44,289 |  |  | 55,066 |  |  | 38,870 |  |  | 138,225 |
Gross Profit |  | 51,658 |  |  | 40,871 |  |  | 24,513 |  |  | 117,042 |
Gross Profit Margin |  | 53.8% |  | 42.6% |  | 38.7% |  | 45.9%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 14,478 |  |  | 10,851 |  |  | 6,825 |  |  | 32,154 |
General and administrative expenses |  | 10,023 |  |  | 9,172 |  |  | 4,638 |  |  | 23,833 |
Research and development expenses |  | 1,330 |  |  | 1,824 |  |  | 570 |  |  | 3,724 |
Intangible asset amortization expense |  | 1,410 |  |  | 2,436 |  |  | 2,689 |  |  | 6,535 |
Other segment items (a) |  | (26) |  |  | 1,102 |  |  | (148) |  |  | 928 |
Segment Operating Income |  | $ | 24,443 |  |  | $ | 15,486 |  |  | $ | 9,939 |  |  | $ | 49,868 |
Segment Operating Income Margin |  | 25.5% |  | 16.1% |  | 15.7% |  | 19.5%
Corporate Expenses (b) |  | (10,491) |
Interest Expense, Net |  | (2,899) |
Other Expense, Net |  | (17) |
Income Before Provision for Income Taxes |  | $ | 36,461 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 1,855 |  |  | $ | 2,468 |  |  | $ | 1,199 |  |  | $ | 12 |  |  | $ | 5,534 |
Capital expenditures |  | $ | 1,380 |  |  | $ | 1,595 |  |  | $ | 993 |  |  | $ | — |  |  | $ | 3,968 |
Three Months Ended June 29, 2024
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 92,290 |  |  | $ | 114,753 |  |  | $ | 67,722 |  |  | $ | 274,765 |
Cost of revenue |  | 43,369 |  |  | 67,382 |  |  | 42,127 |  |  | 152,878 |
Gross Profit |  | 48,921 |  |  | 47,371 |  |  | 25,595 |  |  | 121,887 |
Gross Profit Margin |  | 53.0% |  | 41.3% | —% | 37.8% |  | 44.4%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 13,715 |  |  | 10,394 |  |  | 6,237 |  |  | 30,346 |
General and administrative expenses |  | 8,606 |  |  | 8,610 |  |  | 4,157 |  |  | 21,373 |
Research and development expenses |  | 1,420 |  |  | 1,413 |  |  | 649 |  |  | 3,482 |
Intangible asset amortization expense |  | 1,072 |  |  | 2,728 |  |  | 3,184 |  |  | 6,984 |
Other segment items (a) |  | 578 |  |  | 134 |  |  | 180 |  |  | 892 |
Segment Operating Income |  | $ | 23,530 |  |  | $ | 24,092 |  |  | $ | 11,188 |  |  | $ | 58,810 |
Segment Operating Income Margin |  | 25.5% |  | 21.0% |  | 16.5% |  | 21.4%
Corporate Expenses (b) |  | (10,409) |
Interest Expense, Net |  | (4,833) |
Other Expense, Net |  | (2) |
Income Before Provision for Income Taxes |  | $ | 43,566 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 1,540 |  |  | $ | 2,367 |  |  | $ | 1,088 |  |  | $ | 12 |  |  | $ | 5,007 |
Capital expenditures |  | $ | 1,961 |  |  | $ | 1,851 |  |  | $ | 1,157 |  |  | $ | 5 |  |  | $ | 4,974 |
Six Months Ended June 28, 2025
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 188,388 |  |  | $ | 185,461 |  |  | $ | 120,628 |  |  | $ | 494,477 |
Cost of revenue |  | 87,457 |  |  | 105,142 |  |  | 74,506 |  |  | 267,105 |
Gross Profit |  | 100,931 |  |  | 80,319 |  |  | 46,122 |  |  | 227,372 |
Gross Profit Margin |  | 53.6% |  | 43.3% |  | 38.2% |  | 46.0%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 29,257 |  |  | 21,028 |  |  | 13,293 |  |  | 63,578 |
General and administrative expenses |  | 18,836 |  |  | 17,559 |  |  | 8,879 |  |  | 45,274 |
Research and development expenses |  | 2,681 |  |  | 3,430 |  |  | 1,136 |  |  | 7,247 |
Intangible asset amortization expense |  | 2,903 |  |  | 4,814 |  |  | 5,517 |  |  | 13,234 |
Other segment items (a) |  | 59 |  |  | 1,170 |  |  | (177) |  |  | 1,052 |
Segment Operating Income |  | $ | 47,195 |  |  | $ | 32,318 |  |  | $ | 17,474 |  |  | $ | 96,987 |
Segment Operating Income Margin |  | 25.1% |  | 17.4% |  | 14.5% |  | 19.6%
Corporate Expenses (b) |  | (22,024) |
Interest Expense, Net |  | (6,204) |
Other Expense, Net |  | (33) |
Income Before Provision for Income Taxes |  | $ | 68,726 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 3,653 |  |  | $ | 4,815 |  |  | $ | 2,357 |  |  | $ | 23 |  |  | $ | 10,848 |
Capital expenditures |  | $ | 2,889 |  |  | $ | 2,920 |  |  | $ | 1,992 |  |  | $ | 3 |  |  | $ | 7,804 |
Six Months Ended June 29, 2024
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 178,972 |  |  | $ | 220,614 |  |  | $ | 124,154 |  |  | $ | 523,740 |
Cost of revenue |  | 83,368 |  |  | 129,051 |  |  | 78,472 |  |  | 290,891 |
Gross Profit |  | 95,604 |  |  | 91,563 |  |  | 45,682 |  |  | 232,849 |
Gross Profit Margin |  | 53.4% |  | 41.5% |  | 36.8% |  | 44.5%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 27,259 |  |  | 20,766 |  |  | 12,452 |  |  | 60,477 |
General and administrative expenses |  | 17,674 |  |  | 17,546 |  |  | 8,239 |  |  | 43,459 |
Research and development expenses |  | 2,969 |  |  | 3,088 |  |  | 1,155 |  |  | 7,212 |
Intangible asset amortization expense |  | 1,757 |  |  | 5,560 |  |  | 6,538 |  |  | 13,855 |
Other segment items (a) |  | 705 |  |  | 512 |  |  | 569 |  |  | 1,786 |
Segment Operating Income |  | $ | 45,240 |  |  | $ | 44,091 |  |  | $ | 16,729 |  |  | $ | 106,060 |
Segment Operating Income Margin |  | 25.3% |  | 20.0% |  | 13.5% |  | 20.3%
Corporate Expenses (b) |  | (20,732) |
Interest Expense, Net | (8,891) |
Other Expense, Net | (32) |
Income Before Provision for Income Taxes | $ | 76,405 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 3,076 |  |  | $ | 4,694 |  |  | $ | 2,081 |  |  | $ | 24 |  |  | $ | 9,875 |
Capital expenditures |  | $ | 3,835 |  |  | $ | 4,734 |  |  | $ | 2,663 |  |  | $ | 13 |  |  | $ | 11,245 |
|  | June 28, 2025 |  | December 28, 2024
(In thousands) |  |
Total Assets (d) |  |  |  |
Flow Control |  | $ | 454,550 |  |  | $ | 431,536 |
Industrial Processing |  | 588,246 |  |  | 569,817 |
Material Handling |  | 424,794 |  |  | 411,178 |
Corporate (e) |  | 16,924 |  |  | 17,814 |
|  | $ | 1,484,514 |  |  | $ | 1,430,345 |
(a)Includes acquisition costs, indemnification asset provisions and reversals associated with uncertain tax positions, and certain gains and losses. (b)Primarily consists of general and administrative expenses. (c)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses. (d)Excludes intercompany receivables or payables and investment in subsidiary balances as the CODM uses total assets excluding these amounts as the measurement for the Company's segment assets. (e)Corporate assets primarily consist of cash and cash equivalents, tax assets, right-of-use assets, and property, plant, and equipment, net.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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