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Segment Information
 6 Months Ended
Jun. 30, 2011
Segment Information  
Segment Information
6. Segment Information

The Company's operations are organized in two reportable segments, the Water Transmission Group and the Tubular Products Group, which are based on the nature of the products and the manufacturing process. The Water Transmission Group manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, primarily related to drinking water systems. These products are also used for hydroelectric power systems, wastewater systems and other applications. In addition, the Water Transmission Group makes products for industrial plant piping systems and certain structural applications. The Tubular Products Group manufactures and markets smaller diameter, electric resistance welded steel pipe used in a wide range of applications, including energy, construction, and agricultural systems. The Tubular Products Group also manufactured and marketed welded steel pipe used in traffic signpost applications through June 1, 2011 (see Note 12). These two segments represent distinct business activities, which management evaluates based on segment gross profit and operating income. Transfers between segments in the periods presented were not material.

 

     Three months ended June 30,     Six months ended June 30,  
     2011     2010     2011     2010  
     As Restated     As Restated     As Restated     As Restated  
     (in thousands)     (in thousands)  

Net sales:

         

Water Transmission

    $ 74,459      $ 56,060      $ 133,104      $ 108,745   

Tubular Products

      69,342        40,065        122,155        67,762   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 143,801      $ 96,125      $ 255,259      $ 176,507   
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit:

         

Water Transmission

    $ 11,531      $ 4,573      $ 21,425      $ 10,747   

Tubular Products

      5,140        350        10,014        2,365   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 16,671      $ 4,923      $ 31,439      $ 13,112   
  

 

 

    

 

 

    

 

 

    

 

 

  

Operating income (loss):

         

Water Transmission

    $ 9,142      $ 2,378      $ 17,403      $ 6,251   

Tubular Products

      4,304        (441 )      8,153        1,004   

Corporate

      (2,378 )      (3,899 )      (7,009 )      (7,939 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 11,068      $ (1,962 )    $ 18,547      $ (684 )