Business Segments

9 Months Ended

Sep. 30, 2012

Business Segments [Abstract]

BUSINESS SEGMENTS

2.  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 from continuing operations of the Company by segment for the periods indicated:

		Three Months Ended				Nine Months Ended
		September 30, 2012				September 30, 2012
		Net		Segment		Net		Segment
		Sales		Profit		Sales		Profit
		In thousands
Rail products	$	110,993	$	8,096	$	278,993	$	1,743
Construction products		45,948		3,083		132,173		6,062
Tubular products		13,405		3,783		36,651		9,501
Total	$	170,346	$	14,962	$	447,817	$	17,306

		Three Months Ended				Nine Months Ended
		September 30, 2011				September 30, 2011
		Net		Segment		Net		Segment
		Sales		Profit		Sales		Profit
		In thousands
Rail products	$	89,378	$	8,858	$	241,016	$	12,944
Construction products		60,175		4,879		176,404		12,583
Tubular products		8,770		1,951		24,182		4,673
Total	$	158,323	$	15,688	$	441,602	$	30,200

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				Nine Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
		In thousands
Income for reportable segments	$	14,962	$	15,688	$	17,306	$	30,200
Cost of capital for reportable segments		3,897		3,901		12,866		11,108
Interest expense		(141)		(170)		(405)		(443)
Interest income		126		74		319		224
Other (expense)/income		(329)		650		453		822
LIFO income/(expense)		432		(444)		333		(1,140)
Equity in income of nonconsolidated investment		310		287		643		570
(Loss)/gain on foreign exchange		(283)		711		(457)		497
Corporate expense and other unallocated charges		(5,863)		(7,038)		(18,044)		(18,275)
Income from continuing operations before income taxes	$	13,111	$	13,659	$	13,014	$	23,563