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Note 18 - Industry Segment Information
 9 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

18)     Industry Segment Information

 

In the fourth quarter of fiscal year 2020, the Company reviewed the quantitative and qualitative characteristics of its businesses and determined that it has seven operating segments that aggregate to five reportable segments.  The reportable segments are organized around the types of products sold:

 

 

•

Electronics – manufactures and sells electronic components for applications throughout the end-user market spectrum;

 

•

Engraving – provides mold texturizing, slush molding tools, project management and design services, roll engraving, hygiene product tooling, low observation vents for stealth aircraft, and process machinery for a number of industries; 

 

•

Scientific – sells specialty temperature-controlled equipment for the medical, scientific, pharmaceutical, biotech and industrial markets; 

 

•

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; 

 

•

Specialty Solutions – an aggregation of three operating segments that manufacture and sell refrigerated, heated and dry merchandizing display cases, custom fluid pump solutions, and single and double acting telescopic and piston rod hydraulic cylinders. 

 

All periods presented have been revised accordingly to reflect the new reportable segments.

 

Net sales and income (loss) from continuing operations by segment were as follows (in thousands):

 

  

Three Months Ended March 31,

 
  

Net Sales

  

Income from Operations

 
  

2021

  

2020

  

2021

  

2020

 

Segment:

                

Electronics

 $65,085  $48,069  $12,364  $8,017 

Engraving

  36,026   35,431   4,510   4,472 
Scientific  24,221   14,670   5,803   3,204 

Engineering Technologies

  19,951   26,730   1,245   3,098 
Specialty Solutions  26,933   30,574   4,251   4,879 
Corporate  -   -   (7,162)  (6,048)

Restructuring costs

  -   -   (482)  (593)
Loss on sale of business  -   -   (14,624)  - 

Acquisition-related costs

  -   -   (255)  (120)

Sub-total

 $172,216  $155,474  $5,650  $16,909 

Interest expense

          1,317   1,774 

Other non-operating (income) expense

          306   (238)

Income from continuing operations before income taxes

         $4,027  $15,373 

 

  

Nine Months Ended March 31,

 
  

Net Sales

  

Income from Operations

 
  

2021

  

2020

  

2021

  

2020

 

Segment:

                

Electronics

 $180,524  $140,521  $30,861  $23,892 

Engraving

  110,377   112,118   16,884   17,925 
Scientific  58,777   44,834   14,113   10,965 

Engineering Technologies

  55,091   77,869   3,076   9,879 
Specialty Solutions  75,028   89,808   11,368   14,867 
Corporate  -   -   (21,607)  (22,688)

Restructuring costs

  -   -   (2,478)  (2,792)
Loss on sale of business  -   -   (14,624)  - 

Acquisition-related costs

  -   -   (850)  (1,650)

Sub-total

 $479,797  $465,150  $36,743  $50,398 

Interest expense

          4,403   5,820 

Other non-operating (income) expense

          73   (566)

Income from continuing operations before income taxes

         $32,267  $45,144 

 

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.