XML 65 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2012
Segment Information [Abstract] |
SEGMENT INFORMATION |
15. | SEGMENT INFORMATION:
The operating segments reported below are based on the nature of the products sold by the Company and are the segments of the Company for which separate financial information is available and for which operating results are regularly evaluated by executive management to make decisions about resources to be allocated to the segment and assess its performance. Management evaluates segment performance based on operating income. The Company’s Water Transmission segment manufactures and markets large diameter, high-pressure steel pipe used primarily for water transmission. The Company’s Water Transmission products are manufactured at one of six manufacturing facilities located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; and Monterrey, Mexico. During the second half of 2012, we permanently closed our facility located in Pleasant Grove, Utah, and have transferred its property and equipment to other manufacturing locations. Products are sold primarily to public water agencies either directly or through an installation contractor. The Company’s Tubular Products segment manufactures and markets smaller diameter, ERW steel pipe for use in a wide range of applications, including energy, construction, agricultural, and industrial systems. Tubular Products manufacturing facilities are located in Atchison, Kansas; Houston, Texas; and Bossier City, Louisiana. Tubular Products are marketed through a network of direct sales force personnel and sales agents throughout the United States, Canada and Mexico. Based on the location of the customer, the Company sold principally all products in the United States, Canada and Mexico. One customer accounted for 12% of total net sales in 2012. No one customer represented more than 10% of total net sales in 2011 or 2010. As of December 31, 2012, all material long-lived assets are located in the United States.
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (in thousands) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Water transmission |  | $ | 269,203 |  |  | $ | 271,885 |  |  | $ | 221,251 |
Tubular products |  |  | 255,300 |  |  |  | 239,783 |  |  |  | 165,499 |
Total |  | $ | 524,503 |  |  | $ | 511,668 |  |  | $ | 386,750 |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |
Water transmission |  | $ | 45,051 |  |  | $ | 43,182 |  |  | $ | 19,430 |
Tubular products |  |  | 11,147 |  |  |  | 15,956 |  |  |  | 10,258 |
Total |  | $ | 56,198 |  |  | $ | 59,138 |  |  | $ | 29,688 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Water transmission |  | $ | 36,278 |  |  | $ | 34,113 |  |  | $ | 10,825 |
Tubular products |  |  | 8,335 |  |  |  | 12,660 |  |  |  | 6,963 |
|  |  | 44,613 |  |  |  | 46,773 |  |  |  | 17,788 |
Corporate |  |  | (17,053 | ) |  |  | (13,950 | ) |  |  | (17,193 | )
Total |  | $ | 27,560 |  |  | $ | 32,823 |  |  | $ | 595 |
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |
Water transmission |  | $ | 10,474 |  |  | $ | 8,729 |  |  | $ | 8,282 |
Tubular products |  |  | 5,541 |  |  |  | 5,723 |  |  |  | 5,005 |
|  |  | 16,015 |  |  |  | 14,452 |  |  |  | 13,287 |
Corporate |  |  | 252 |  |  |  | 69 |  |  |  | 579 |
Total |  | $ | 16,267 |  |  | $ | 14,521 |  |  | $ | 13,865 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Water transmission |  | $ | 6,830 |  |  | $ | 4,765 |  |  | $ | 9,307 |
Tubular products |  |  | 9,813 |  |  |  | 11,386 |  |  |  | 9,135 |
|  |  | 16,643 |  |  |  | 16,151 |  |  |  | 18,442 |
Corporate |  |  | 146 |  |  |  | 182 |  |  |  | 155 |
Total |  | $ | 16,789 |  |  | $ | 16,333 |  |  | $ | 18,597 |
Net sales by geographic region: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 473,403 |  |  | $ | 455,625 |  |  | $ | 347,028 |
Other |  |  | 51,100 |  |  |  | 56,043 |  |  |  | 39,722 |
Total |  | $ | 524,503 |  |  | $ | 511,668 |  |  | $ | 386,750 |
|  | December 31, |
|  | 2012 |  |  | 2011 |
|  | (in thousands) |
Goodwill: |  |  |  |  |  |  |  |
Water transmission . |  | $ | — |  |  | $ | — |
Tubular products . |  |  | 20,478 |  |  |  | 20,478 |
Total . |  | $ | 20,478 |  |  | $ | 20,478 |
Total assets: |  |  |  |  |  |  |  |
Water transmission . |  | $ | 221,987 |  |  | $ | 203,073 |
Tubular products . |  |  | 174,591 |  |  |  | 181,058 |
|  |  | 396,578 |  |  |  | 384,131 |
Corporate . |  |  | 25,844 |  |  |  | 29,242 |
Total . |  | $ | 422,422 |  |  | $ | 413,373 |
All property and equipment is located in the United States as of December 31, 2012 and 2011, except for a total of $2.4 million which is located in Mexico.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration