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Note 17 - Industry Segment Information

6 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17) Industry Segment Information

The Company has determined that it has five reportable segments organized around the types of product sold:

	•	Engraving – provides mold texturizing, slush molding tools, tool finishing, project management and design services, hygiene product tooling, low observation vents for stealth aircraft, and process machinery for a number of industries;
	•	Electronics – manufacturing of electronic components for applications throughout the end-user market spectrum;
	•	Engineering Technologies – provides net and near net formed single-source customized solutions in the manufacture of engineered components for the aviation, aerospace, defense, energy, industrial, medical, marine, oil and gas, and manned and unmanned space markets.
	•	Hydraulics – manufacturing of single and double-acting telescopic and piston rod hydraulic cylinders; and
	•	Food Service Equipment – a manufacturer of commercial food service equipment and scientific refrigeration equipment;

Net sales and income (loss) from continuing operations by segment for the three and six months ended December 31, 2019 and 2018 were as follows (in thousands):

		*Three Months Ended December 31,*
		*Net Sales*								*Income from Operations*
		*2019*				*2018*				*2019*				*2018*
Segment:
Engraving		$	38,256			$	38,485			$	6,916			$	6,849
Electronics			45,834				52,700				7,776				10,376
Engineering Technologies			26,495				23,568				3,422				2,061
Hydraulics			11,316				12,116				1,818				1,929
Food Service Equipment			68,684				68,653				6,773				5,190
Corporate											(7,378	)			(5,162	)
Restructuring costs											(720	)			(177	)
Acquisition-related costs											(773	)			(859	)
Other operating (income) expense, net											-				-
Sub-total		$	190,585			$	195,522			$	17,834			$	20,207
Interest expense											(1,928	)			(3,123	)
Other non-operating expense											(588	)			(750	)
Income from continuing operations before income taxes										$	15,318			$	16,334

Six Months Ended December 31,

Net Sales

Income from Operations

2019

2018

2019

2018

Segment:

Engraving
$ 76,687 $ 74,466 $ 13,454 $ 14,398

Electronics
92,452 104,150 15,875 23,163

Engineering Technologies
51,139 44,351 6,781 3,836

Hydraulics
25,064 24,651 4,345 3,512

Food Service Equipment
141,681 140,991 15,145 11,857

Corporate
(16,664 ) (11,743 )

Restructuring costs
(2,199 ) (624 )

Acquisition-related costs
(1,507 ) (1,547 )

Other operating (income) expense, net 1,045 -

Sub-total
$ 387,023 $ 388,609 $ 36,275 $ 42,852

Interest expense
(4,050 ) (5,368 )

Other non-operating income
328 (1,015 )

Income from continuing operations before income taxes
$ 32,553 $ 36,469

Net sales include only transactions with unaffiliated customers and include no intersegment sales. Income (loss) from operations by segment excludes interest expense and other non-operating income (expense).

The Company’s identifiable assets at December 31, 2019 and June 30, 2019 are as follows (in thousands):

		*December 31, 2019*				*June 30, 2019*
Engraving		$	267,727			$	233,569
Electronics			329,239				332,326
Engineering Technologies			153,022				149,628
Hydraulics			26,450				28,132
Food Service Equipment			170,595				159,656
Corporate & Other			20,782				18,578
Total		$	967,815			$	921,889