Revenue during the quarter grew 3.53 percent to $153.94 million from $148.70 million in the previous year period. Gross margin for the quarter expanded 180 basis points over the previous year period to 36.85 percent. Total expenses were 80.80 percent of quarterly revenues, down from 84.13 percent for the same period last year. This has led to an improvement of 333 basis points in operating margin to 19.20 percent.

Operating income for the quarter was $29.55 million, compared with $23.60 million in the previous year period.

However, the adjusted operating income for the quarter stood at $29.78 million compared to $29.18 million in the prior year period. At the same time, adjusted operating margin contracted 28 basis points in the quarter to 19.34 percent from 19.62 percent in the last year period.

"We are pleased with the operating performance during the second quarter as well as the outlook for the year," said Dr. Michael J. Hartnett, chairman and chief executive officer. "We are seeing solid customer acceptance of our aerospace and defense products which is leading to a number of large opportunities for the business and provides an excellent path for OEM aerospace growth in future years. We were also able to achieve industrial sales growth during the quarter as our stronger demand markets continued to offset areas of weakness in some of the various segments we serve."