Segment Results

6 Months Ended

Jun. 30, 2012

Segment Results

Note 2 - Segment Results

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has five reportable segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling and Controls. Furthermore, Corporate consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs. Assets of the reportable segments exclude general corporate assets, which principally consist of cash, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets.

Financial information by reportable segment is set forth below:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2012			2011			2012			2011
Net sales
Aerospace & Electronics	$	178,591		$	171,538		$	353,759		$	333,474
Engineered Materials		54,487			60,101			112,647			121,933
Merchandising Systems		97,577			94,010			185,252			188,888
Fluid Handling		302,318			286,141			600,537			546,811
Controls		24,713			21,399			51,104			42,372
Total	$	657,686		$	633,189		$	1,303,299		$	1,233,478
Operating profit (loss) from continuing operations
Aerospace & Electronics	$	38,931		$	37,157		$	77,001		$	71,199
Engineered Materials		5,543			9,130			13,952			19,273
Merchandising Systems		9,115			7,114			13,828			11,787
Fluid Handling		26,836			36,856			66,028			71,605
Controls		3,784			2,712			7,669			5,103
Corporate		(14,832	)		(14,118	)		(30,804	)		(28,680	)
Total		69,377			78,851			147,674			150,287
Interest income		454			389			849			679
Interest expense		(6,785	)		(6,429	)		(13,496	)		(13,051	)
Miscellaneous - net		(351	)		(290	)		(698	)		3,335	*
Income from continuing operations before income taxes	$	62,695		$	72,521		$	134,329		$	141,250

* Primarily related to the sale of a building and the divestiture of a small product line in the three months ended March 31, 2011.

	As of
	June 30,		December 31,
(in thousands)	2012		2011
Assets
Aerospace & Electronics	$	517,080	$	514,240
Engineered Materials		245,245		245,350
Merchandising Systems		420,560		408,857
Fluid Handling		943,364		909,265
Controls		40,553		64,162
Corporate		694,726		701,657
Total	$	2,861,528	$	2,843,531

	As of
	June 30,		December 31,
(in thousands)	2012		2011
Goodwill
Aerospace & Electronics	$	203,525	$	203,516
Engineered Materials		171,497		171,489
Merchandising Systems		198,188		197,719
Fluid Handling		217,907		220,111
Controls		15,053		27,990
Total	$	806,170	$	820,824