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Segment Information | 12 Months Ended
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Dec. 31, 2011
Segment Information [Abstract] |
Segment Information | Note 16—Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the chief operating decision-makers in deciding how to allocate resources and assess performance. The Company is comprised of three reportable segments; Chemicals, Drilling, and Artificial Lift:
Ÿ |  | The Chemicals segment consists of two business divisions: 1) Specialty Chemicals and 2) Logistics. Specialty Chemicals designs, develops, manufactures, packages and sells chemicals used by oilfield service companies in oil and gas well drilling, cementing, stimulation and production activities. The Logistics division manages automated handling, loading facilities, and blending capabilities of bulk materials for oilfield service companies.
Ÿ |  | The Drilling segment rents, inspects, manufactures and markets down-hole drilling equipment used in energy, mining, water well and industrial drilling activities.
Ÿ |  | The Artificial Lift segment manufactures and markets artificial lift equipment, including the Petrovalve line of beam pump components, electric submersible pumps and gas separators, valves and services that support coal bed methane production activities.
The Company evaluates performance based on several criteria. The primary financial measure is business segment income before taxes. Various functions, including certain sales and marketing activities and corporate general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, identified other income and expense items as well as estimated income tax provisions (benefits), are not allocated to reportable segments. Intersegment sales are accounted for at fair value as if sales were to third parties. Intersegment revenue is not considered material to the consolidated financial statements. Summarized financial information regarding reportable segments is shown in the following table (in thousands):
As of and for the Year ended December 31, |  | Chemicals and Logistics |  |  | Drilling Products |  |  | Artificial Lift |  |  | Corporate and Other |  |  | Total |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue from external |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
customers |  | $ | 140,836 |  |  | $ | 102,470 |  |  | $ | 15,479 |  |  | $ | - |  |  | $ | 258,785 |
Gross margin |  |  | 56,115 |  |  |  | 43,607 |  |  |  | 6,098 |  |  |  | - |  |  |  | 105,820 |
Income (loss) from operations |  |  | 43,549 |  |  |  | 23,035 |  |  |  | 4,296 |  |  |  | (21,992 | ) |  |  | 48,888 |
Depreciation and amortization |  |  | 1,594 |  |  |  | 8,061 |  |  |  | 196 |  |  |  | 254 |  |  |  | 10,105 |
Total assets |  |  | 54,958 |  |  |  | 113,130 |  |  |  | 10,815 |  |  |  | 53,109 |  |  |  | 232,012 |
Capital expenditures |  |  | 2,231 |  |  |  | 6,025 |  |  |  | 182 |  |  |  | 1,546 |  |  |  | 9,984 |
2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue from external |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
customers |  | $ | 66,121 |  |  | $ | 65,782 |  |  | $ | 15,079 |  |  | $ | - |  |  | $ | 146,982 |
Gross margin |  |  | 29,249 |  |  |  | 18,991 |  |  |  | 4,730 |  |  |  | - |  |  |  | 52,970 |
Income (loss) from operations |  |  | 19,833 |  |  |  | (9,738 | ) |  |  | 3,070 |  |  |  | (19,432 | ) |  |  | (6,267 | )
Depreciation and amortization |  |  | 1,671 |  |  |  | 11,445 |  |  |  | 219 |  |  |  | 433 |  |  |  | 13,768 |
Total assets |  |  | 44,102 |  |  |  | 102,949 |  |  |  | 9,062 |  |  |  | 28,694 |  |  |  | 184,807 |
Capital expenditures |  |  | 1,227 |  |  |  | 4,679 |  |  |  | 32 |  |  |  | 122 |  |  |  | 6,060 |
2009 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue from external |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
customers |  | $ | 49,296 |  |  | $ | 50,774 |  |  | $ | 12,480 |  |  | $ | - |  |  | $ | 112,550 |
Gross margin |  |  | 21,667 |  |  |  | 4,781 |  |  |  | 2,936 |  |  |  | - |  |  |  | 29,384 |
Income (loss) from operations |  |  | 12,964 |  |  |  | (32,084 | ) |  |  | 1,161 |  |  |  | (15,144 | ) |  |  | (33,103 | )
Depreciation and amortization |  |  | 1,844 |  |  |  | 11,826 |  |  |  | 292 |  |  |  | 224 |  |  |  | 14,186 |
Total assets |  |  | 33,053 |  |  |  | 119,960 |  |  |  | 7,084 |  |  |  | 18,804 |  |  |  | 178,901 |
Capital expenditures |  |  | 291 |  |  |  | 6,189 |  |  |  | 42 |  |  |  | 33 |  |  |  | 6,555 |
One customer and its affiliates accounted for 13%, 11% and 17% of consolidated revenue for the years ended December 31, 2011, 2010 and 2009, respectively. Over 97% of this revenue related to sales by the Chemicals segment. Long-lived assets held in countries other than the US are not considered material to the consolidated financial statements. Revenue by country is determined based upon the location of services provided and products sold. Revenue by geographic location is as follows (in thousands):
|  | Year ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
United States |  | $ | 222,304 |  |  | $ | 127,285 |  |  | $ | 97,737 |
Other countries |  |  | 36,481 |  |  |  | 19,697 |  |  |  | 14,813 |
Total |  | $ | 258,785 |  |  | $ | 146,982 |  |  | $ | 112,550 |

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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 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: 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 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=6534315&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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: 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 6: 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 7: 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 8: 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 Reference 9: 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 10: 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 11: 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 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 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: 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 15: 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 + Details
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