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Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Information [Abstract]  
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, agriculture and industrial systems. The Tubular Products Group also manufactured and marketed welded steel pipe used in traffic signpost applications through June 1, 2011. 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,  
    2012     2011     2012     2011  
    (in thousands)     (in thousands)  

Net sales:

                                

Water Transmission

   $ 59,050     $ 74,459     $ 117,481     $ 133,104  

Tubular Products

     71,991       69,342       155,735       122,155  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 131,041     $ 143,801     $ 273,216     $ 255,259  
   

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit:

                                

Water Transmission

   $ 8,149     $ 11,531     $ 17,848     $ 21,425  

Tubular Products

     5,428       5,140       12,229       10,014  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 13,577     $ 16,671     $ 30,077     $ 31,439  
   

 

 

    

 

 

    

 

 

    

 

 

  

Operating income (loss):

                                

Water Transmission

   $ 6,130     $ 9,142     $ 14,154     $ 17,403  

Tubular Products

     4,651       4,304       10,847       8,153  

Corporate

     (3,811 )      (2,378 )      (8,852 )      (7,009 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 6,970     $ 11,068     $ 16,149     $ 18,547