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Segment Reporting
 9 Months Ended
Sep. 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, 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 September 30, 2013.  All of the Company’s assets are located in the United States.  Unallocated assets consist of the Company’s cash balance.

 

 

 

Three Months Ended September 30, 2013

 

Three Months Ended September 30, 2012

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Total
UFPT
$

 

Net sales

 

11,907,703

 

22,792,489

 

34,700,192

 

11,009,769

 

20,957,057

 

31,966,826

 

Operating income

 

1,945,130

 

2,538,689

 

4,483,819

 

982,942

 

3,087,228

 

4,070,170

 

Depreciation / amortization

 

600,523

 

404,513

 

1,005,036

 

339,238

 

373,461

 

712,699

 

Capital expenditures

 

301,152

 

1,171,562

 

1,472,714

 

3,053,238

 

(33,601

)

3,019,637

 

 

 

 

Nine Months Ended September 30, 2013

 

Nine Months Ended September 30, 2012

 

 

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Engineered
Packaging
$

 

Component
Products
$

 

Unallocated
Assets
$

 

Total
UFPT
$

 

Net sales

 

33,778,139

 

70,451,292

 

—

 

104,229,431

 

31,233,197

 

66,358,457

 

—

 

97,591,654

 

Operating income

 

3,576,280

 

8,496,515

 

—

 

12,072,795

 

1,990,671

 

10,073,497

 

—

 

12,064,168

 

Depreciation / amortization

 

1,669,407

 

1,312,209

 

—

 

2,981,616

 

1,061,483

 

1,056,055

 

—

 

2,117,538

 

Capital expenditures

 

2,898,255

 

2,119,186

 

—

 

5,017,441

 

6,385,763

 

1,663,148

 

—

 

8,048,911

 

Total assets

 

31,444,726

 

34,662,583

 

38,232,943

 

104,340,252

 

27,686,738

 

28,686,295

 

31,155,308

 

87,528,341