Disclosure About Segments of an Enterprise and Related Information

6 Months Ended

Jun. 30, 2011

Disclosure About Segments of an Enterprise and Related Information [Abstract]

About Segments of an Enterprise and Related Information

9. Disclosure About Segments of an Enterprise and Related Information

The Company changed the measure of segment profitability during the third quarter of 2010 from “income (loss) before provision for income taxes” to “income (loss) from operations” as this measure is most relied upon by the chief operating decision maker for assessing performance of each segment and for deciding how to allocate resources. This was an operational change as the income (loss) from operations as used by the chief operating decision maker is a more accurate measure of the operational performance of each segment.

The Company serves its markets and manages its business through four operating segments, each of which has its own manufacturing facilities and administrative and selling functions.

The financial information for all segments is presented below (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenue from External Customers
Advanced Ceramic Operations	$	66,637		$	41,375		$	143,267		$	95,463
ESK Ceramics		45,880			30,961			86,003			62,709
Thermo Materials		29,295			23,513			60,406			43,360
Boron		11,420			7,440			19,360			13,959
Inter-segment elimination		(7,856	)		(2,874	)		(13,558	)		(5,038	)
Total	$	145,376		$	100,415		$	295,478		$	210,453
Depreciation and Amortization
Advanced Ceramic Operations	$	2,514		$	2,396		$	5,385		$	4,828
ESK Ceramics		3,276			2,956			6,415			6,259
Thermo Materials		2,094			1,691			3,778			3,036
Boron		2,047			2,016			4,100			4,114
Total	$	9,931		$	9,059		$	19,678		$	18,237
Segment Income (Loss) from Operations and Income Before Provision for Income Taxes
Advanced Ceramic Operations	$	14,041		$	(3,753	)	$	31,055		$	(930	)
ESK Ceramics		9,201			4,643			17,006			7,353
Thermo Materials		6,066			7,561			16,920			12,814
Boron		726			(1,350	)		726			(3,507	)
Inter-segment elimination		(585	)		(31	)		(657	)		(54	)
Income from Operations		29,449			7,070			65,050			15,676
Other Income (Expense)		(115	)		949			(852	)		(1,136	)
Income before Provision for Income Taxes	$	29,334		$	8,019		$	64,198		$	14,540
Segment Assets
Advanced Ceramic Operations	$	468,385		$	410,987		$	468,385		$	410,987
ESK Ceramics		190,440			164,567			190,440			164,567
Thermo Materials		169,420			121,215			169,420			121,215
Boron		127,670			128,272			127,670			128,272
Total	$	955,915		$	825,041		$	955,915		$	825,041
Expenditures for Property, Plant & Equipment
Advanced Ceramic Operations	$	2,076		$	2,091		$	3,475		$	3,591
ESK Ceramics		1,322			349			1,984			836
Thermo Materials		4,672			9,289			9,622			12,678
Boron		1,324			592			1,974			2,067
Total	$	9,394		$	12,321		$	17,055		$	19,172

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Percentage of U.S. net sales from external customers
Advanced Ceramic Operations		39	%		33	%		42	%		41	%
ESK Ceramics		3	%		4	%		3	%		4	%
Thermo Materials		6	%		5	%		6	%		5	%
Boron		4	%		5	%		4	%		4	%
Total percentage of U.S. net sales from external customers		52	%		47	%		55	%		54	%
Percentage of foreign net sales from external customers
Advanced Ceramic Operations		5	%		9	%		5	%		5	%
ESK Ceramics		24	%		24	%		22	%		24	%
Thermo Materials		15	%		18	%		15	%		15	%
Boron		4	%		2	%		3	%		2	%
Total percentage of foreign net sales from external customers		48	%		53	%		45	%		46	%
Percentage of total net sales from external customers
Advanced Ceramic Operations		44	%		42	%		47	%		46	%
ESK Ceramics		27	%		28	%		25	%		28	%
Thermo Materials		21	%		23	%		21	%		20	%
Boron		8	%		7	%		7	%		6	%
Total percentage of total net sales from external customers		100	%		100	%		100	%		100	%

The following is revenue by product line for ACO (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Armor	$	49,949	$	29,796	$	106,376	$	73,145
Automotive		2,647		2,230		5,149		4,758
Energy		4,702		1,440		13,125		2,117
Commercial (Orthodontics)		1,716		2,031		3,790		4,203
Industrial		7,623		5,878		14,827		11,240
	$	66,637	$	41,375	$	143,267	$	95,463