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Segment Information
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segment Information

Note L – Segment Information

The Company designs, manufactures and sells hardware employed in the construction and maintenance of telecommunication, energy and other utility networks, data communication products and mounting hardware for solar power applications. Principal products include cable anchoring, control hardware and splice enclosures which are sold primarily to customers in North and South America, Europe, South Africa and Asia Pacific.

The Company reports its segments in four geographic regions: PLP-USA, The Americas, EMEA (Europe, Middle East & Africa) and Asia-Pacific in accordance with accounting standards codified in FASB ASC 280, Segment Reporting. Each segment distributes a full range of the Company’s primary products. The PLP-USA segment is comprised of U.S. operations manufacturing the Company’s traditional products primarily supporting domestic energy, telecommunications and solar products. The other three segments, The Americas, EMEA and Asia-Pacific support the Company’s energy, telecommunications, data communication and solar products in each respective geographical region.

The segment managers responsible for each region report directly to the Company’s Chief Executive Officer, who is the chief operating decision maker and are accountable for the financial results and performance of their entire segment for which they are responsible. The business components within each segment are managed to maximize the results of the entire company rather than the results of any individual business component of the segment.

The amount of each segment’s performance reported to the chief operating decision maker is for purposes of making decisions about allocating resources to the segment and assessing its performance. The Company evaluates segment performance and allocates resources based on several factors primarily based on sales and income from continuing operations, net of tax.

The accounting policies of the operating segments are the same as those described in Note A in the Notes To Consolidated Financial Statements. No single customer accounts for more than ten percent of the Company’s consolidated revenues. It is not practical to present revenues by product line. U.S. net sales for the year ended December 31, 2015, 2014, and 2013 were $142.5 million, $152.6 million and $163 million, respectively. U.S. long-lived assets as of December 31, 2015 and 2014 were $40.6 million and $41.1 million, respectively.

 

The following table presents a summary of the Company’s reportable segments for the year ended December 31, 2015, 2014 and 2013. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profits in inventory. During the fourth quarter of 2015, the Company reconfigured a product line in The Americas segment and consolidated its manufacturing processes into the PLP-USA segment. As such, certain prior year amounts have been reclassified to conform to current year presentation.

 

     Year Ended December 31  
     2015      2014      2013  

Net sales

         

PLP-USA

    $ 142,470       $ 152,567       $ 163,033   

The Americas

      59,290         75,868         72,518   

EMEA

      53,778         65,446         61,543   

Asia-Pacific

      99,128         94,304         112,682   
  

 

 

     

 

 

     

 

 

  

Total net sales

    $ 354,666       $ 388,185       $ 409,776   
  

 

 

     

 

 

     

 

 

  

Intersegment sales

         

PLP-USA

    $ 9,339       $ 12,690       $ 10,944   

The Americas

      5,074         5,875         5,949   

EMEA

      1,652         1,848         2,080   

Asia-Pacific

      8,364         11,921         10,491   
  

 

 

     

 

 

     

 

 

  

Total intersegment sales

    $ 24,429       $ 32,334       $ 29,464   
  

 

 

     

 

 

     

 

 

  

Interest income

         

PLP-USA

    $ 0       $ 0       $ 0   

The Americas

      145         129         290   

EMEA

      123         223         215   

Asia-Pacific

      123         131         113   
  

 

 

     

 

 

     

 

 

  

Total interest income

    $ 391       $ 483       $ 618   
  

 

 

     

 

 

     

 

 

  

Interest expense

         

PLP-USA

    $ (440 )     $ (427 )     $ (305 ) 

The Americas

      (56 )       (130 )       (41 ) 

EMEA

      (23 )       (54 )       (68 ) 

Asia-Pacific

      (46 )       (47 )       (36 ) 
  

 

 

     

 

 

     

 

 

  

Total interest expense

    $ (565 )     $ (658 )     $ (450 ) 
  

 

 

     

 

 

     

 

 

  

Income taxes

         

PLP-USA

    $ 2,387       $ 4,576       $ 6,032   

The Americas

      1,399         930         2,839   

EMEA

      1,646         2,122         2,052   

Asia-Pacific

      (401 )       921         284   
  

 

 

     

 

 

     

 

 

  

Total income taxes

    $ 5,031       $ 8,549       $ 11,207   
  

 

 

     

 

 

     

 

 

  

Net income (loss)

         

PLP-USA

    $ 2,031       $ 7,233       $ 10,356   

The Americas

      3,178         2,647         6,415   

EMEA

      4,881         6,192         6,047   

Asia-Pacific

      (3,415 )       (3,211 )       (2,231 ) 
  

 

 

     

 

 

     

 

 

  

Total net income

    $ 6,675       $ 12,861       $ 20,587   
  

 

 

     

 

 

     

 

 

  

 

     Year Ended December 31  
     2015      2014      2013  

Expenditure for long-lived assets

         

PLP-USA

    $ 5,164       $ 7,673       $ 12,349   

The Americas

      2,074         4,788         3,020   

EMEA

      1,673         1,375         2,573   

Asia-Pacific

      1,843         3,827         3,092   
  

 

 

     

 

 

     

 

 

  

Total expenditures for long-lived assets

    $ 10,754       $ 17,663       $ 21,034   
  

 

 

     

 

 

     

 

 

  

Depreciation and amortization

         

PLP-USA

    $ 4,551       $ 4,521       $ 4,185   

The Americas

      1,862         2,464         2,052   

EMEA

      1,464         1,790         1,792   

Asia-Pacific

      3,655         4,082         4,059   
  

 

 

     

 

 

     

 

 

  

Total depreciation and amortization

    $ 11,532       $ 12,857       $ 12,088   
  

 

 

     

 

 

     

 

 

  

 

     As of December 31  
     2015      2014  

Identifiable assets

      

PLP-USA

    $ 106,854       $ 109,115   

The Americas

      60,294         75,752   

EMEA

      51,006         51,691   

Asia-Pacific

      106,105         117,093   
  

 

 

     

 

 

  
     324,259         353,651   

Corporate assets

      314         316   
  

 

 

     

 

 

  

Total identifiable assets

    $ 324,573       $ 353,967   
  

 

 

     

 

 

  

Long-lived assets

      

PLP-USA

    $ 40,638       $ 41,131   

The Americas

      14,937         19,451   

EMEA

      11,232         12,504   

Asia-Pacific

      25,158         29,445   
  

 

 

     

 

 

  

Total long-lived assets

    $ 91,965       $ 102,531