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Segment Reporting
 6 Months Ended
Jun. 30, 2013
Segment Reporting  
Segment Reporting

(8)                   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 protective 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 medical, aerospace and defense and automotive markets 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, 2012, 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 three-month period ended June 30, 2013.  All of the Company’s assets are located in the United States.  Unallocated assets consists of the Company’s cash balance.

 

 

 

Three Months Ended 6/30/13

 

Three Months Ended 6/30/12

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

11,005,130

 

24,827,095

 

—

 

35,832,225

 

10,605,606

 

23,066,999

 

—

 

33,672,605

 

Operating income

 

1,416,004

 

3,216,715

 

—

 

4,632,719

 

553,073

 

3,752,625

 

—

 

4,305,698

 

Depreciation / amortization

 

540,304

 

462,690

 

—

 

1,002,994

 

386,847

 

329,790

 

—

 

716,637

 

Capital expenditures

 

2,097,089

 

195,980

 

—

 

2,293,069

 

1,496,955

 

1,223,037

 

—

 

2,719,992

 

 

 

 

Six Months Ended 6/30/13

 

Six Months Ended 6/30/12

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

21,870,436

 

47,658,803

 

—

 

69,529,239

 

20,223,428

 

45,401,400

 

—

 

65,624,828

 

Operating income

 

1,631,150

 

5,957,826

 

—

 

7,588,976

 

1,007,729

 

6,986,269

 

—

 

7,993,998

 

Depreciation / amortization

 

1,068,884

 

907,696

 

—

 

1,976,580

 

722,245

 

682,594

 

—

 

1,404,839

 

Capital expenditures

 

2,597,103

 

947,624

 

—

 

3,544,727

 

3,332,525

 

1,696,749

 

—

 

5,029,274

 

Total assets

 

34,707,401

 

32,946,229

 

34,271,349

 

101,924,979

 

24,668,621

 

29,957,940

 

29,236,694

 

83,863,255