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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.