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Segment Disclosure
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Segment Disclosure
Segment Disclosure
 
The Company’s three operating segments are:
 
Services. This segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of NDT and inspection and engineering services that are used to evaluate the structural integrity and reliability of critical energy, commercial aerospace components, industrial and public infrastructure.
 
International. This segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America, but not to customers in China and South Korea, which are served by the Products and Systems segment.
 
Products and Systems. This segment designs, manufactures, sells, installs and services the Company’s asset protection products and systems, including equipment and instrumentation, predominantly in the United States.
 
Costs incurred for general corporate services, including finance, legal, and certain other costs that are provided to the segments are reported within Corporate and eliminations. Sales to the International segment from the Products and Systems segment and subsequent sales by the International segment of the same items are recorded and reflected in the operating performance of both segments. Additionally, engineering charges and royalty fees charged to the Services and International segments by the Products and Systems segment are reflected in the operating performance of each segment. All such intersegment transactions are eliminated in the Company’s consolidated financial reporting.
 
Selected consolidated financial information by segment for the periods shown was as follows (intercompany transactions are eliminated in Corporate and eliminations):
 
 
Three months ended
 
Nine months ended
 
September 30, 2018
 
September 30, 2017
 
September 30, 2018
 
September 30, 2017
Revenues
 

 
 

 
 
 
 
Services
$
141,340

 
$
137,194

 
$
434,653

 
$
397,565

International
36,671

 
38,200

 
116,238

 
106,360

Products and Systems
5,716

 
6,268

 
17,286

 
16,925

Corporate and eliminations
(1,558
)
 
(2,092
)
 
(6,585
)
 
(7,524
)
 
$
182,169

 
$
179,570

 
$
561,592

 
$
513,326

 
 
Three months ended
 
Nine months ended
 
September 30, 2018
 
September 30, 2017
 
September 30, 2018
 
September 30, 2017
Gross profit
 

 
 

 
 
 
 
Services
$
38,838

 
$
34,729

 
$
113,675

 
$
100,432

International
10,877

 
10,432

 
34,273

 
29,720

Products and Systems
2,604

 
2,753

 
7,707

 
7,313

Corporate and eliminations
13

 
(17
)
 
(96
)
 
(73
)
 
$
52,332

 
$
47,897

 
$
155,559

 
$
137,392

 
 
Three months ended
 
Nine months ended
 
September 30, 2018
 
September 30, 2017
 
September 30, 2018
 
September 30, 2017
Income (loss) from operations
 

 
 

 
 
 
 
Services
$
8,289

 
$
11,699

 
$
36,892

 
$
31,211

International
(662
)
 
1,023

 
2,713

 
3,866

Products and Systems
2,415

 
(15,573
)
 
2,032

 
(16,913
)
Corporate and eliminations
(7,025
)
 
(7,524
)
 
(21,917
)
 
(20,287
)
 
$
3,017

 
$
(10,375
)
 
$
19,720

 
$
(2,123
)
 
Income (loss) from operations by operating segment includes intercompany transactions, which are eliminated in Corporate and eliminations.
 
 
Three months ended
 
Nine months ended
 
September 30, 2018
 
September 30, 2017
 
September 30, 2018
 
September 30, 2017
Depreciation and amortization
 

 
 

 
 

 
 

Services
$
5,951

 
$
5,543

 
$
17,892

 
$
16,330

International
2,179

 
2,004

 
6,720

 
5,736

Products and Systems
362

 
594

 
1,091

 
1,746

Corporate and eliminations
5

 
(46
)
 
33

 
(168
)
 
$
8,497

 
$
8,095

 
$
25,736

 
$
23,644

 
 
September 30, 2018
 
December 31, 2017
Intangible assets, net
 

 
 

Services
$
42,638

 
$
46,864

International
11,770

 
13,899

Products and Systems
1,571

 
2,261

Corporate and eliminations
536

 
715

 
$
56,515

 
$
63,739

 

 
September 30, 2018
 
December 31, 2017
Total assets
 

 
 

Services
$
376,694

 
$
377,585

International
145,779

 
150,779

Products and Systems
12,748

 
12,733

Corporate and eliminations
12,927

 
13,344

 
$
548,148

 
$
554,441


 
Revenues by geographic area for the three and nine months ended September 30, 2018 and 2017, respectively, were as follows:
 
 
Three months ended
 
Nine months ended
 
September 30, 2018
 
September 30, 2017
 
September 30, 2018
 
September 30, 2017
Revenues
 

 
 

 
 
 
 
United States
$
120,454

 
$
114,249

 
$
371,570

 
$
344,808

Other Americas
23,657

 
26,084

 
71,335

 
59,452

Europe
35,029

 
36,264

 
108,902

 
97,630

Asia-Pacific
3,029

 
2,973

 
9,785

 
11,436

 
$
182,169

 
$
179,570

 
$
561,592

 
$
513,326