Business Segments

6 Months Ended

Jun. 30, 2012

Business Segments [Abstract]

BUSINESS SEGMENTS

3. BUSINESS SEGMENTS

The Company is organized and evaluated by product group, which is the basis for identifying reportable segments. The Company is engaged in the manufacture, fabrication and distribution of rail, construction and tubular products and services.

The following table illustrates revenues and profits of the Company by segment for the periods indicated:

	Three Months Ended		Six Months Ended
	June 30, 2012		June 30, 2012
	Net	Segment	Net	Segment
	Sales	(Loss)/Profit	Sales	(Loss)/Profit
	In thousands
Rail products	$101,369	($10,023)	$168,000	($6,353)
Construction products	49,624	2,616	89,659	3,302
Tubular products	13,949	3,406	23,246	5,718
Total	$164,942	($4,001)	$280,905	$2,667

	Three Months Ended			Six Months Ended
	June 30, 2011		June 30, 2011
	Net	Segment	Net		Segment
	Sales	Profit	Sales		Profit
	In thousands
Rail products	$88,824	$3,273	$151,639		$3,849
Construction products	73,026	5,784	119,806		7,478
Tubular products	9,661	1,978	15,412		2,722
Total	$171,511	$11,035	$286,857		$14,049

Segment profits from continuing operations, as shown above, include internal cost of capital charges for assets used in the segment at a rate of, generally, 1% per month. There has been no change in the measurement of segment profit from continuing operations from December 31, 2011.

The following table provides a reconciliation of reportable segment net profit from continuing operations to the Company's consolidated total:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
	In thousands
(Loss) income for reportable segments	($4,001)	$11,035	$2,667	$14,049
Cost of capital for reportable segments	4,762	4,119	9,189	7,453
Interest expense	(123)	(135)	(263)	(273)
Interest income	94	94	194	150
Other income/(expense)	122	46	608	(41)
LIFO expense	(53)	(565)	(99)	(696)
Equity in income of nonconsolidated investment	309	196	332	283
Corporate expense and other unallocated charges	(5,476)	(5,934)	(12,185)	(11,217)
(Loss) income from continuing operations before income taxes	($4,366)	$8,856	$443	$9,708