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SEGMENTS
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
SEGMENTS
11. SEGMENTS

 

a. Segment Reporting

 

The Company manages its business in three segments: Commercial Trailer Products, Diversified Products and Retail. The Commercial Trailer Products segment produces and sells new trailers to the Retail segment or to customers who purchase trailers directly from the Company or through independent dealers. The Diversified Products segment focuses on the Company’s commitment to expand its customer base, diversify its product offerings and revenues and extend its market leadership by leveraging its proprietary DuraPlate® panel technology, drawing on its core manufacturing expertise and making available products that are complementary to truck and tank trailers and transportation equipment. The results related to the purchased Beall assets from the date of the purchase, February 4, 2013, are included in the Diversified Products segment. The Retail segment includes the sale of new and used trailers, as well as the sale of after-market parts and service, through its retail branch network. The Company has not allocated certain corporate related administrative costs, interest and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up. Reportable segment information is as follows (in thousands):

 

 

    Commercial     Diversified           Corporate and        
    Trailer Products     Products     Retail     Eliminations     Consolidated  
Three Months Ended March 31, 2013                                        
Net sales                                        
External customers   $ 183,986     $ 99,689     $ 40,554     $ -     $ 324,229  
Intersegment sales     14,091       12,305       289       (26,685 )     -  
Total net sales   $ 198,077     $ 111,994     $ 40,843     $ (26,685 )   $ 324,229  
                                         
Income (Loss) from operations   $ 5,320     $ 13,519     $ 873     $ (4,856 )   $ 14,856  
Assets   $ 273,002     $ 509,858     $ 72,390     $ 80,025     $ 935,275  
                                         
Three Months Ended March 31, 2012                                        
Net sales                                        
External customers   $ 233,560     $ 19,002     $ 25,120     $ -     $ 277,682  
Intersegment sales     9,820       12,588       -       (22,408 )     -  
Total net sales   $ 243,380     $ 31,590     $ 25,120     $ (22,408 )   $ 277,682  
                                         
Income (Loss) from operations   $ 6,187     $ 5,384     $ (75 )   $ (6,047 )   $ 5,449  
Assets   $ 292,495     $ 56,890     $ 137,622     $ (77,352 )   $ 409,655  

 

b. Product Information

 

The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):

 

    Commercial     Diversified              
    Trailer Products     Products     Retail     Consolidated  
Three Months Ended March 31,   $     $     $     $     %  
2013                                        
New trailers     175,003       43,521       16,943       235,467       72.6  
Used trailers     5,050       949       2,648       8,647       2.7  
Components, parts and service     2,705       18,901       19,679       41,285       12.7  
Equipment and other     1,228       36,318       1,284       38,830       12.0  
Total net external sales     183,986       99,689       40,554       324,229       100.0  

 

    Commercial     Diversified              
    Trailer Products     Products     Retail     Consolidated  
  $     $     $     $     %  
2012                              
New trailers     225,301       -       9,891       235,192       84.7  
Used trailers     4,148       -       3,437       7,585       2.7  
Components, parts and service     559       14,250       11,769       26,578       9.6  
Equipment and other     3,552       4,752       23       8,327       3.0  
Total net external sales     233,560       19,002       25,120       277,682       100.0