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Note 17 - Segment Information | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
17 . | SEGMENT INFORMATION:
The operating segments reported below are based on the nature of the products sold and the manufacturing process used 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 the Company’s chief operating decision maker 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 large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are 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 segment makes products for industrial plant piping systems and certain structural applications. The Company’s Tubular Products segment manufactures and markets smaller diameter, electric resistance welded steel pipe used in a wide range of applications, including energy, construction, agricultural and industrial systems. On March 30, 2014 the Company completed the sale of substantially all of the assets and liabilities associated with the OCTG business conducted by the Company’s Tubular Products segment at its former manufacturing facilities in Bossier City, Louisiana and Houston, Texas, excluding the real property located in Houston, Texas. The Company’s Tubular Products segment’s remaining manufacturing facility is located in Atchison, Kansas. The Atchison facility operated at reduced levels from April 2015 to January 2016, when the Company idled the facility to reduce operating expenses until market conditions improve or a sale is completed. Based on the location of the customer, the Company sold principally all products in the United States and Canada. In 2016, one customer in the Water Transmission segment accounted for 27% of total Net sales. No customer accounted for 10% or more of total Net sales in 2015. One customer in the Water Transmission segment accounted for 16% and one customer in the Tubular Products segment accounted for 10% of total Net sales from continuing operations in 2014.
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (in thousands) |
Net sales from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Water Transmission |  | $ | 149,387 |  |  | $ | 173,160 |  |  | $ | 238,545 |
Tubular Products |  |  | 6,869 |  |  |  | 63,448 |  |  |  | 164,753 |
Total |  | $ | 156,256 |  |  | $ | 236,608 |  |  | $ | 403,298 |
Gross profit (loss) from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Water Transmission |  | $ | (317 | ) |  | $ | 606 |  |  | $ | 39,601 |
Tubular Products |  |  | (2,908 | ) |  |  | (13,231 | ) |  |  | 975 |
Total |  | $ | (3,225 | ) |  | $ | (12,625 | ) |  | $ | 40,576 |
Operating income (loss) from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Water Transmission (1) |  | $ | 1,049 |  |  | $ | (11,592 | ) |  | $ | 31,490 |
Tubular Products (2) |  |  | (3,336 | ) |  |  | (15,699 | ) |  |  | (16,677 | )
|  |  | (2,287 | ) |  |  | (27,291 | ) |  |  | 14,813 |
Corporate |  |  | (11,246 | ) |  |  | (12,919 | ) |  |  | (14,619 | )
Total |  | $ | (13,533 | ) |  | $ | (40,210 | ) |  | $ | 194 |
Net sales from continuing operations by geographic region: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 144,280 |  |  | $ | 224,691 |  |  | $ | 383,344 |
Canada |  |  | 11,976 |  |  |  | 11,917 |  |  |  | 19,954 |
Total |  | $ | 156,256 |  |  | $ | 236,608 |  |  | $ | 403,298 |
(1) Operating income for Water Transmission for 2016 includes restructuring expenses of $1.0 million and gain on sale of facility of $7.9 million. Operating loss for Water Transmission for 2015 includes the write-off of goodwill of $5.3 million.
(2) Operating loss for Tubular Products for 2014 includes the write-off of goodwill of $16.1 million.
The following includes discontinued operations within Tubular Products in 2014:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (in thousands) |
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |
Water Transmission |  | $ | 8,750 |  |  | $ | 7,318 |  |  | $ | 8,716 |
Tubular Products |  |  | 776 |  |  |  | 1,859 |  |  |  | 5,090 |
|  |  | 9,526 |  |  |  | 9,177 |  |  |  | 13,806 |
Corporate |  |  | 443 |  |  |  | 438 |  |  |  | 340 |
Total |  | $ | 9,969 |  |  | $ | 9,615 |  |  | $ | 14,146 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Water Transmission |  | $ | 2,072 |  |  | $ | 6,313 |  |  | $ | 6,190 |
Tubular Products |  |  | - |  |  |  | 1,879 |  |  |  | 7,526 |
|  |  | 2,072 |  |  |  | 8,192 |  |  |  | 13,716 |
Corporate |  |  | 220 |  |  |  | 323 |  |  |  | 573 |
Total |  | $ | 2,292 |  |  | $ | 8,515 |  |  | $ | 14,289 |
|  | December 31, |
|  | 2016 |  |  | 2015 |
|  | (in thousands) |
Total assets: |  |  |  |  |  |  |  |
Water Transmission |  | $ | 170,486 |  |  | $ | 185,607 |
Tubular Products |  |  | 40,402 |  |  |  | 48,785 |
|  |  | 210,888 |  |  |  | 234,392 |
Corporate |  |  | 30,667 |  |  |  | 24,988 |
Total |  | $ | 241,555 |  |  | $ | 259,380 |
All property and equipment is located in the United States, except for $4.1 million and $4.3 million of Water Transmission property and equipment which is located in Mexico as of December 31, 2016 and 2015, respectively.

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- 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 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: 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=68060357&loc=d3e9038-108599 Reference 3: 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=68060357&loc=d3e8971-108599 Reference 4: 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=68060357&loc=d3e8595-108599 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=68060357&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 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: 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=68060357&loc=d3e8844-108599 Reference 8: 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=68060357&loc=d3e8984-108599 Reference 9: 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=68060357&loc=d3e9031-108599 Reference 10: 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=68060357&loc=d3e9054-108599 Reference 11: 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=68060357&loc=d3e8538-108599 Reference 12: 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=68060357&loc=d3e8864-108599 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=68060357&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 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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