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Segment Reporting
 6 Months Ended
Jun. 30, 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. No customer comprised more than 5% of the Company’s consolidated revenues for the six-month period ended June 30, 2012. With the exception of one molded fiber machine currently being assembled for delivery to the Company’s Iowa facility, all of the Company’s assets are located in the United States.

 

 

 

Three Months Ended 6/30/12

 

Three Months Ended 6/30/11

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

10,605,606

 

23,066,999

 

—

 

33,672,605

 

10,807,574

 

22,693,420

 

—

 

33,500,994

 

Operating income

 

553,073

 

3,752,625

 

—

 

4,305,698

 

492,527

 

3,824,185

 

—

 

4,316,712

 

Depreciation / amortization

 

386,847

 

329,790

 

—

 

716,637

 

347,576

 

363,478

 

—

 

711,054

 

Capital expenditures

 

1,496,955

 

1,223,037

 

—

 

2,719,992

 

539,732

 

211,820

 

—

 

751,552

 

 

 

 

Six Months Ended 6/30/12

 

Six Months Ended 6/30/11

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

20,223,428

 

45,401,400

 

—

 

65,624,828

 

20,684,265

 

44,320,317

 

—

 

65,004,582

 

Operating income

 

1,007,729

 

6,986,269

 

—

 

7,993,998

 

1,408,601

 

6,817,907

 

—

 

8,226,508

 

Total assets

 

24,668,621

 

29,957,940

 

29,236,694

 

83,863,255

 

19,591,327

 

28,886,863

 

26,278,669

 

74,756,859

 

Depreciation / amortization

 

722,245

 

682,594

 

—

 

1,404,839

 

681,227

 

722,265

 

—

 

1,403,492

 

Capital expenditures

 

3,332,525

 

1,696,749

 

—

 

5,029,274

 

710,671

 

293,585

 

—

 

1,004,256