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Segment Information
9 Months Ended
Sep. 30, 2011
Segment Information 
Segment Information

10.           Segment Information

 

The Company is organized into three reportable segments. The segments are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North American segment, comprising primarily the United States and Canada, the European segment and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the south Pacific and the Middle East. These segments are similar in several ways, including the types of materials, the production processes, the distribution channels and the product applications.

 

The following table illustrates certain measurements used by management to assess the performance as of or for the following periods:

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

(in thousands)

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

Net Sales

 

 

 

 

 

 

 

 

 

North America

 

$

127,998

 

$

115,206

 

$

371,732

 

$

350,700

 

Europe

 

31,761

 

28,545

 

93,206

 

78,137

 

Asia/Pacific

 

2,370

 

2,616

 

7,062

 

6,964

 

Administrative and all other

 

237

 

80

 

713

 

80

 

Total

 

$

162,366

 

$

146,447

 

$

472,713

 

$

435,881

 

 

 

 

 

 

 

 

 

 

 

Sales to Other Segments*

 

 

 

 

 

 

 

 

 

North America

 

$

1,093

 

$

1,674

 

$

3,905

 

$

3,282

 

Europe

 

—

 

18

 

250

 

85

 

Asia/Pacific

 

3,350

 

2,339

 

7,505

 

5,936

 

Total

 

$

4,443

 

$

4,031

 

$

11,660

 

$

9,303

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Operations

 

 

 

 

 

 

 

 

 

North America

 

$

23,594

 

$

24,317

 

$

69,463

 

$

73,515

 

Europe

 

2,801

 

3,420

 

3,997

 

4,117

 

Asia/Pacific

 

(410

)

(11

)

(1,674

)

(320

)

Administrative and all other

 

(1,103

)

1,526

 

(3,413

)

2,970

 

Total

 

$

24,882

 

$

29,252

 

$

68,373

 

$

80,282

 

 

 

* The sales to other segments are eliminated on consolidation.

 

 

 

 

 

 

 

At

 

 

 

At September 30,

 

December 31,

 

(in thousands)

 

2011

 

2010

 

2010

 

 

 

 

 

 

 

 

 

Total Assets

 

 

 

 

 

 

 

North America

 

$

608,350

 

$

546,726

 

$

557,762

 

Europe

 

131,138

 

132,988

 

123,669

 

Asia/Pacific

 

28,349

 

23,793

 

25,576

 

Administrative and all other

 

87,632

 

158,327

 

167,702

 

Total

 

$

855,469

 

$

861,834

 

$

874,709

 

 

Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore, has been included in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $177.5 million, $230.4 million, and $274.6 million, as of September 30, 2011 and 2010, and December 31, 2010, respectively. Real estate assets previously allocated to the venting products segment have been allocated to the “Administrative and all other” as of August 31, 2010. See Note 11.