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Note 11 - Business Segment Information
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 11 – Business Segment Information

 

The Company operates in one business segment comprising the design, manufacture and sale of pumps and pump systems. The Company’s products are used in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire suppression, heating, ventilation and air conditioning (HVAC), military and other liquid-handling applications.

 

The pumps and pump systems are marketed in the United States and worldwide through a broad network of distributors, through manufacturers’ representatives (for sales to many original equipment manufacturers), through third-party distributor catalogs, and by direct sales. International sales are made primarily through foreign distributors and representatives.

 

The Company sells to approximately 140 countries around the world. The Company attributes revenues to individual countries based on the customer location to which finished products are shipped. The following tables disaggregate total net sales by major product category and geographic location:

 

End Market

  

2023

    

2022

    

2021

  

Industrial

   $ 136,978     $ 100,826     $ 61,371  

Fire

     143,551       121,001       103,653  

Agriculture

     83,053       57,703       21,879  

Construction

     86,996       60,557       34,368  

Municipal

     78,528       69,726       54,964  

Petroleum

     23,168       16,464       15,618  

OEM

     37,708       34,820       32,964  

Repair parts

     69,529       59,930       53,499  

Total net sales

   $ 659,511     $ 521,027     $ 378,316  

 

Geographic Location

  

2023

    

2022

    

2021

  

United States

   $ 497,387     $ 381,306     $ 260,683  

Foreign countries

     162,124       139,721       117,633  

Total net sales

   $ 659,511     $ 521,027     $ 378,316  

 

As of the years ending December 31, 2023 and 2022, 89.5% and 89.6%, respectively, of the Company’s long-lived assets were located in the United States. For the years ended December 31, 2023 and 2022, no individual foreign country held more than 10% of consolidated long-lived assets nor was responsible for more than 10% of consolidated revenue.