Business Segment Information (Tables)
|
3 Months Ended |
Mar. 31, 2015
|
Segment Reporting [Abstract] |
|
Net Sales and Income from Operation by Business Segment |
The financial segment information is presented in the following
table:
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Three Months Ended
March 31, |
|
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|
2015 |
|
|
2014 |
|
Net Sales (less intra-, inter-segment sales)
|
|
|
|
|
|
|
|
|
Air Pollution Control Segment
|
|
$ |
41,716 |
|
|
$ |
26,748 |
|
Energy Segment
|
|
|
24,349 |
|
|
|
15,281 |
|
Fluid Handling and Filtration Segment
|
|
|
15,194 |
|
|
|
15,495 |
|
Corporate and Other(1)
|
|
|
(274 |
) |
|
|
(354 |
) |
|
|
|
|
|
|
|
|
|
Net sales
|
|
$ |
80,985 |
|
|
$ |
57,170 |
|
|
|
|
|
|
|
|
|
|
(1) |
Includes adjustment for revenue on
intercompany jobs. |
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Three Months Ended
March 31, |
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|
2015 |
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2014 |
|
Income from Operations
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|
Air Pollution Control Segment
|
|
$ |
4,018 |
|
|
$ |
3,866 |
|
Energy Segment
|
|
|
420 |
|
|
|
2,387 |
|
Fluid Handling and Filtration Segment
|
|
|
2,956 |
|
|
|
2,671 |
|
Corporate and Other(2)
|
|
|
(3,817 |
) |
|
|
(2,735 |
) |
Eliminations
|
|
|
(598 |
) |
|
|
(697 |
) |
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Income from operations
|
|
$ |
2,979 |
|
|
$ |
5,492 |
|
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|
|
|
|
|
|
|
|
(2) |
Includes corporate compensation,
professional services, information technology, acquisition and
integration expenses, and other general and administrative
corporate expenses. |
|
Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets |
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Three Months Ended
March 31, |
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2015 |
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|
2014 |
|
Property and Equipment Additions
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|
Air Pollution Control Segment
|
|
$ |
64 |
|
|
$ |
136 |
|
Energy Segment
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|
|
40 |
|
|
|
34 |
|
Fluid Handling and Filtration Segment
|
|
|
5 |
|
|
|
214 |
|
Corporate and Other
|
|
|
10 |
|
|
|
31 |
|
|
|
|
|
|
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|
|
|
Property and equipment additions
|
|
$ |
119 |
|
|
$ |
415 |
|
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|
Three Months Ended
March 31, |
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|
2015 |
|
|
2014 |
|
Depreciation and Amortization
|
|
|
|
|
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|
Air Pollution Control Segment
|
|
$ |
1,153 |
|
|
$ |
395 |
|
Energy Segment
|
|
|
671 |
|
|
|
655 |
|
Fluid Handling and Filtration Segment
|
|
|
1,596 |
|
|
|
1,688 |
|
Corporate and Other
|
|
|
32 |
|
|
|
32 |
|
|
|
|
|
|
|
|
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|
Depreciation and Amortization
|
|
$ |
3,452 |
|
|
$ |
2,770 |
|
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|
March 31,
2015 |
|
|
December 31,
2014 |
|
Identifiable Assets
|
|
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|
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|
Air Pollution Control Segment
|
|
$ |
133,504 |
|
|
$ |
133,899 |
|
Energy Segment
|
|
|
94,152 |
|
|
|
91,850 |
|
Fluid Handling and Filtration Segment
|
|
|
172,692 |
|
|
|
172,779 |
|
Corporate and Other(3)
|
|
|
17,080 |
|
|
|
15,837 |
|
|
|
|
|
|
|
|
|
|
Identifiable Assets
|
|
$ |
417,428 |
|
|
$ |
414,365 |
|
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|
(3) |
Corporate assets primarily consist of
cash and income tax related assets. |
|
Goodwill |
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March 31,
2015 |
|
|
December 31,
2014 |
|
Goodwill
|
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|
Air Pollution Control Segment
|
|
$ |
55,033 |
|
|
$ |
53,538 |
|
Energy Segment
|
|
|
15,862 |
|
|
|
16,778 |
|
Fluid Handling and Filtration Segment
|
|
|
97,231 |
|
|
|
97,231 |
|
|
|
|
|
|
|
|
|
|
Goodwill
|
|
$ |
168,126 |
|
|
$ |
167,547 |
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|
Intra-Segment and Inter-Segment Revenues |
The Company has multiple divisions that sell to each other within
segments (intra-segment sales) and between segments (inter-segment
sales) as indicated in the following tables:
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Three Months Ended March 31,
2015 |
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Less Inter-Segment Sales |
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|
Total
Sales |
|
|
Intra-
Segment
Sales |
|
|
APC |
|
|
Energy |
|
|
FHF |
|
|
Corp
and
Other |
|
|
Net Sales to
Outside
Customers |
|
Net Sales
|
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|
|
|
|
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|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
Air Pollution Control Segment
|
|
$ |
43,557 |
|
|
$ |
(1,807 |
) |
|
$ |
— |
|
|
$ |
(34 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
41,716 |
|
Energy Segment
|
|
|
25,081 |
|
|
|
(695 |
) |
|
|
(37 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
24,349 |
|
Fluid Handling and Filtration Segment
|
|
|
15,734 |
|
|
|
(452 |
) |
|
|
(88 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
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|
15,194 |
|
Corporate and Other(4)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(274 |
) |
|
|
(274 |
) |
|
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|
Net Sales
|
|
$ |
84,372 |
|
|
$ |
(2,954 |
) |
|
$ |
(125 |
) |
|
$ |
(34 |
) |
|
$ |
— |
|
|
$ |
(274 |
) |
|
$ |
80,985 |
|
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|
Three Months Ended March 31,
2014 |
|
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|
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|
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|
Less Inter-Segment Sales |
|
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|
|
|
|
Total
Sales |
|
|
Intra-
Segment
Sales |
|
|
APC |
|
|
Energy |
|
|
FHF |
|
|
Corp
and
Other |
|
|
Net Sales to
Outside
Customers |
|
Net Sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Air Pollution Control Segment
|
|
$ |
28,084 |
|
|
$ |
(1,029 |
) |
|
$ |
— |
|
|
$ |
(307 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
26,748 |
|
Energy Segment
|
|
|
16,190 |
|
|
|
(909 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
15,281 |
|
Fluid Handling and Filtration Segment
|
|
|
15,840 |
|
|
|
(345 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
15,495 |
|
Corporate and Other(4)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(354 |
) |
|
|
(354 |
) |
|
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|
Net Sales
|
|
$ |
60,114 |
|
|
$ |
(2,283 |
) |
|
$ |
— |
|
|
$ |
(307 |
) |
|
$ |
— |
|
|
$ |
(354 |
) |
|
$ |
57,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) |
Includes adjustment for revenue on
intercompany jobs. |
|