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Segment Information
 9 Months Ended
Sep. 30, 2012
Segment Information  
Segment Information

9.             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)

 

2012

 

2011

 

2012

 

2011

 

Net Sales

 

 

 

 

 

 

 

 

 

North America

 

$

137,145

 

$

127,998

 

$

409,644

 

$

371,732

 

Europe

 

31,880

 

31,761

 

94,236

 

93,206

 

Asia/Pacific

 

2,851

 

2,370

 

7,958

 

7,062

 

Administrative and all other

 

237

 

237

 

712

 

713

 

Total

 

$

172,113

 

$

162,366

 

$

512,550

 

$

472,713

 

 

 

 

 

 

 

 

 

 

 

Sales to Other Segments*

 

 

 

 

 

 

 

 

 

North America

 

$

969

 

$

1,093

 

$

3,783

 

$

3,905

 

Europe

 

105

 

—

 

258

 

250

 

Asia/Pacific

 

3,894

 

3,350

 

12,191

 

7,505

 

Total

 

$

4,968

 

$

4,443

 

$

16,232

 

$

11,660

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Operations

 

 

 

 

 

 

 

 

 

North America

 

$

22,102

 

$

23,594

 

$

66,558

 

$

69,463

 

Europe

 

1,172

 

2,801

 

889

 

3,997

 

Asia/Pacific

 

(1,043

)

(410

)

(1,860

)

(1,674

)

Administrative and all other

 

(241

)

(1,103

)

(2,940

)

(3,413

)

Total

 

$

21,990

 

$

24,882

 

$

62,647

 

$

68,373

 

 

* The sales to other segments are eliminated on consolidation.

 

 

 

 

 

 

 

At

 

 

 

At September 30,

 

December 31,

 

(in thousands)

 

2012

 

2011

 

2011

 

Total Assets

 

 

 

 

 

 

 

North America

 

$

568,878

 

$

608,350

 

$

540,082

 

Europe

 

196,883

 

131,138

 

180,016

 

Asia/Pacific

 

31,067

 

28,349

 

29,306

 

Administrative and all other

 

82,168

 

87,632

 

86,683

 

Total

 

$

878,996

 

$

855,469

 

$

836,087

 

 

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 $107.3 million, $177.5 million, and $68.5 million, as of September 30, 2012 and 2011, and December 31, 2011, respectively.