XML 57 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Segment Information
 12 Months Ended
Dec. 31, 2012
Major Customers and Foreign Sales and Business Segment Information [Abstract]  
Business Segment Information
18. Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines and presented in three reportable segments. The results of the segments are reviewed through to the “Income from operations” line on the Consolidated Statements of Income. The accounting policies of the segments are the same as those in the consolidated financial statements.

 

Engineered Equipment Technology and Parts Group (“EET&P Group”)

Our EET&P Group, located in the United States, Canada, Brazil, China, and India, is comprised of CECO Filters, Busch International, Adwest, CECO Abatement, Effox, Fisher-Klosterman, Flextor, and A.V.C. We enable our customers to meet Best Available Control Technology requirements and compliance targets for fumes, volatile organic compounds, process, and industrial odors. Our services eliminate toxic emission fumes and volatile organic compounds from large-scale industrial processes. We have a presence in the chemical processing, ethanol, paint booth emissions, wastewater treatment, and wood products industries.

Contracting/Services Group (“C/S Group”)

Our C/S Group is comprised of the contracting/services operations of our Kirk & Blum divisions. We provide custom metal fabrication services at our Kirk & Blum Columbia, Tennessee and Louisville, Kentucky locations. These facilities are used to fabricate parts, subassemblies, and customized products for air pollution and non-air pollution applications from sheet, plate, and structurals.

Component Parts Group (“CP Group”)

Our CP Group markets component parts for industrial air systems to contractors, distributors and dealers throughout the United States of America.

 

                 
$ in thousands   2012     2011  

Net Sales (less intra-, inter-segment sales)

                

Engineered Equipment Technology and Parts Group

                

United States

   $ 75,824     $ 76,416  

Canada

     7,611       7,492  

China

     4,905       6,147  

Brazil

     121       2,214  

India

     218       229  
   

 

 

    

 

 

  

Subtotal

     88,679       92,498  

Contracting / Services Group

     25,527       26,879  

Component Parts Group

     20,771       18,771  

Corporate and other

     75       1,044  
   

 

 

    

 

 

  

Net sales

   $ 135,052     $ 139,192  
   

 

 

    

 

 

  

 

                 
$ in thousands   2012     2011  

Income (loss) from Operations

                

Engineered Equipment Technology and Parts Group (a)

   $ 15,562     $ 12,381  

Contracting / Services Group (a)

     3,461       3,145  

Component Parts Group (a)

     4,198       3,372  

Corporate and other (a) (b)

     (6,474 )     (6,418 )

Eliminations

     (64 )     (112 )
   

 

 

    

 

 

  

Income from operations

   $ 16,683     $ 12,368  
   

 

 

    

 

 

  

 

(a) The amounts presented above at the reportable business segment level include both external and intersegment net sales and operating income (loss), as applicable. See following tables in this Note 18 under “Intra-segment and Inter-segment Revenues.”
(b) Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses. Also included are the operations of our Engineering Group, which are not significant to the overall operations of the Company and were sold in November 2011.

 

                 
    December 31,  
$ in thousands   2012     2011  

Property and Equipment Additions

                

Engineered Equipment Technology and Parts Group

   $ 113     $ 183  

Contracting / Services Group

     61       115  

Component Parts Group

     77       449  

Corporate and other (c)

     22       166  
   

 

 

    

 

 

  

Property and equipment additions

   $ 273     $ 913  
   

 

 

    

 

 

  

 

(c) Includes Corporate and Engineering Group property and equipment additions. The Engineering Group was sold in November 2011.

 

                 
$ in thousands   2012     2011  

Depreciation and Amortization

                

Engineered Equipment Technology and Parts Group

   $ 623     $ 766  

Contracting / Services Group

     221       232  

Component Parts Group

     193       185  

Corporate and other (d)

     213       216  
   

 

 

    

 

 

  

Depreciation and amortization

   $ 1,250     $ 1,399  
   

 

 

    

 

 

  

 

(d) Includes Corporate and Engineering Group depreciation and amortization. The Engineering Group was sold in November 2011.

 

                 
    December 31,  
$ in thousands   2012     2011  

Identifiable Assets

                

Engineered Equipment Technology and Parts Group

   $ 60,516     $ 51,480  

Contracting / Services Group

     25,636       18,588  

Component Parts Group

     5,573       5,577  

Corporate and other (e)

     7,599       9,705  

Eliminations (f)

     (5,220 )     (6,005 ) 
   

 

 

    

 

 

  

Identifiable assets (g)

   $ 94,104     $ 79,345  
   

 

 

    

 

 

  

 

(e) Includes Corporate and Engineering Group identifiable assets. The Engineering Group was sold in November 2011. Corporate assets primarily consists of cash, income tax related assets, and intercompany note receivable.
(f) Includes eliminations for intercompany trade accounts receivable, intercompany job revenue, and intercompany note receivable.
(g) The Company has revised its business segment reporting primarily to exclude nontrade accounts receivable in order to better reflect the manner in which such assets are reviewed by management.
 

 

 

                 
    December 31,  
    2012     2011  

Goodwill

                

Engineered Equipment Technology and Parts Group

   $ 19,548     $ 14,661  
   

 

 

    

 

 

  

Intra-segment and Inter-segment Revenues

The Company has multiple divisions that sell to each other within segments and between segments as indicated in the following tables:

 

                                                         
          Year Ended December 31, 2012  
    total sales     less
intra-segment
sales		     less inter-segment sales     net sales to
outside
customers		  
$ in thousands       EET&P     C/S     CP     Corp. (a)    

Net Sales

                                                        

Engineered Equipment Technology and Parts Group

                                                        

United States

   $ 77,447     $ (829 )   $ —       $ (794 )   $ —       $ —       $ 75,824  

Canada

     7,548       63       —         —         —         —         7,611  

China

     6,967       (2,062 )     —         —         —         —         4,905  

Brazil

     121       —         —         —         —         —         121  

India

     218       —         —         —         —         —         218  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     92,301       (2,828 )     —       (794 )     —         —         88,679  

Contracting / Services Group

     27,852       (83 )     (2,242 )     —         —                 25,527  

Component Parts Group

     22,084       (366 )     (27 )     (920 )     —         —         20,771  

Corporate and other (a)

     19       —                 (10 )     —         66       75  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net sales

   $ 142,256     $ (3,277 )   $ (2,269 )   $ (1,724 )   $ —       $ 66     $ 135,052  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Includes adjustment for revenue on intercompany jobs.

 

                                                         
          Year Ended December 31, 2011  
    total sales     less
intra-segment
sales		     less inter-segment sales     net sales to
outside
customers		  
$ in thousands       EET&P     C/S     CP     Corp. (a)    

Net Sales

                                                        

Engineered Equipment Technology and Parts Group

                                                        

United States

   $ 82,946     $ (3,733 )   $ —       $ (2,797 )   $ —       $ —       $ 76,416  

Canada

     7,492       —         —         —         —         —         7,492  

China

     9.001       (2,854 )     —         —         —         —         6,147  

Brazil

     2,214       —         —         —         —         —         2,214  

India

     229       —         —         —         —         —         229  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

subtotal

     101,882       (6,587 )     —         (2,797 )     —         —         92,498  

Contracting / Services Group

     29,466       (120 )     (2,355 )     —         (50 )     (62 )     26,879  

Component Parts Group

     20,230       (449 )     (139 )     (871 )     —         —         18,771  

Corporate and other (a)

     1,079       —                 (47 )     —         12       1,044  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net sales

   $ 152,657     $ (7,156 )   $ (2,494 )   $ (3,715 )   $ (50 )   $ (50 )   $ 139,192  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Includes the operations of our Engineering Group, which is not significant to the overall operations of the Company, and adjustment for revenue on intercompany jobs. The Engineering Group was sold in November 2011.