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Quarterly Data

12 Months Ended

Dec. 31, 2011

Quarterly Data [Abstract]

Quarterly Data

16. QUARTERLY DATA (UNAUDITED):

Summarized quarterly financial data for December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011, and each quarter of 2010 is as follows (dollars in thousands, except per share):

		First Quarter				Second Quarter				Third Quarter				Fourth Quarter				Total
For the year ended December 31, 2011
Net sales:
Water transmission		$	58,645			$	74,459			$	76,953			$	61,828			$	271,885
Tubular products			52,813				69,342				62,312				55,316				239,783
Total		$	111,458			$	143,801			$	139,265			$	117,144			$	511,668
Gross profit:
Water transmission		$	9,894			$	11,531			$	13,345			$	8,412			$	43,182
Tubular products			4,874				5,140				3,169				2,773				15,956
Total		$	14,768			$	16,671			$	16,514			$	11,185			$	59,138
Operating income (loss):
Water transmission		$	8,261			$	9,142			$	10,747			$	5,963			$	34,113
Tubular products			3,849				4,304				2,349				2,158				12,660
Corporate			(4,631	)			(2,378	)			(3,049	)			(3,892	)			(13,950	)
Total		$	7,479			$	11,068			$	10,047			$	4,229			$	32,823
Net income		$	2,932			$	4,977			$	3,284			$	1,467			$	12,660
Earnings per share:
Basic		$	0.32			$	0.53			$	0.35			$	0.16			$	1.36
Diluted		$	0.31			$	0.53			$	0.35			$	0.15			$	1.35

		First Quarter				Second Quarter				Third Quarter				Fourth Quarter				Total
For the year ended December 31, 2010
Net sales:
Water transmission		$	52,685			$	56,060			$	59,323			$	53,183			$	221,251
Tubular products			27,697				40,065				53,447				44,290				165,499
Total		$	80,382			$	96,125			$	112,770			$	97,473			$	386,750
Gross profit:
Water transmission		$	6,174			$	4,573			$	6,880			$	1,803			$	19,430
Tubular products			2,015				350				3,601				4,292				10,258
Total		$	8,189			$	4,923			$	10,481			$	6,095			$	29,688
Operating income (loss):
Water transmission		$	3,873			$	2,378			$	4,521			$	53			$	10,825
Tubular products			1,445				(441	)			2,529				3,430				6,963
Corporate			(4,040	)			(3,899	)			(4,844	)			(4,410	)			(17,193	)
Total		$	1,278			$	(1,962	)		$	2,206			$	(927	)		$	595
Net income (loss)		$	488			$	(3,138	)		$	(134	)		$	(2,656	)		$	(5,440	)
Earnings (loss) per share:
Basic		$	0.05			$	(0.34	)		$	(0.01	)		$	(0.29	)		$	(0.59	)
Diluted		$	0.05			$	(0.34	)		$	(0.01	)		$	(0.29	)		$	(0.59	)

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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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