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Segment Reporting
 3 Months Ended
Mar. 31, 2012
Segment Reporting  
Segment Reporting

 

(9)                   Segment Reporting

 

The Company is organized based on the nature of the products and services it offers.  Under this structure, the Company produces products within two distinct segments: Engineered Packaging and Component Products.  Within the Engineered Packaging segment, the Company primarily uses polyethylene and polyurethane foams, sheet plastics, and pulp fiber to provide customers with cushion packaging for their products.  Within the Component Products segment, the Company primarily uses cross-linked polyethylene and technical urethane foams to provide customers in the automotive, athletic, leisure, and health and beauty industries with custom-designed products for numerous purposes.

 

The accounting policies of the segments are the same as those described in Note 1 to the consolidated financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2011, as filed with the Securities and Exchange Commission.  The Company evaluates the performance of its operating segments based on operating income.

 

Inter-segment transactions are uncommon and not material.  Therefore, they have not been reflected separately in the financial table below.  Revenues from customers outside of the United States are not material.  One customer in the Component Products segment comprised 5.1% of the Company’s consolidated revenues for the three-month period ended March 31, 2012.  All of the Company’s assets are located in the United States.

 

 

 

Three Months Ended 3/31/12

 

Three Months Ended 3/31/11

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

9,617,822

 

22,334,401

 

—

 

31,952,223

 

9,876,691

 

21,626,897

 

—

 

31,503,588

 

Operating income

 

454,656

 

3,233,644

 

—

 

3,688,300

 

916,074

 

2,993,722

 

—

 

3,909,796

 

Total assets

 

23,342,404

 

29,386,661

 

27,616,419

 

80,345,484

 

20,729,170

 

27,897,255

 

23,124,240

 

71,750,665

 

Depreciation / amortization

 

328,645

 

352,804

 

—

 

681,449

 

333,651

 

358,787

 

—

 

692,438

 

Capital expenditures

 

1,835,570

 

473,712

 

—

 

2,309,282

 

170,939

 

81,765

 

—

 

252,704