Business Segments

6 Months Ended

Jun. 30, 2013

Business Segments [Abstract]

BUSINESS SEGMENTS

3. BUSINESS SEGMENTS

The Company is a leading manufacturer, fabricator, and distributor of products and services for rail, construction, energy and utility markets. The Company is organized and evaluated by product group, which is the basis for identifying reportable segments. Each segment represents a revenue-producing component of the Company for which separate financial information is produced internally and which are subject to evaluation by the Company’s chief operating decision maker in deciding how to allocate resources.

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

		Three Months Ended				Six Months Ended
		June 30, 2013				June 30, 2013
		Net		Segment		Net		Segment
		Sales		Profit		Sales		Profit
Rail products	$	90,892	$	5,835	$	172,291	$	12,036
Construction products		43,697		2,056		80,508		2,518
Tubular products		15,347		4,547		26,458		7,154
Total	$	149,936	$	12,438	$	279,257	$	21,708

		Three Months Ended				Six Months Ended
		June 30, 2012				June 30, 2012
		Net		Segment		Net		Segment
		Sales		(Loss)/Profit		Sales		(Loss)/Profit
Rail products	$	101,369	$	(9,610)	$	168,000	$	(6,161)
Construction products		47,862		2,504		86,225		2,979
Tubular products		13,949		3,406		23,246		5,718
Total	$	163,180	$	(3,700)	$	277,471	$	2,536

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, 2012. Internal cost of capital charges are eliminated during the consolidation process.

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,
		2013		2012		2013		2012
Income (loss) for reportable segments	$	12,438	$	(3,700)	$	21,708	$	2,536
Interest expense		(125)		(123)		(258)		(263)
Interest income		139		94		345		194
Other income		137		121		315		606
LIFO expense		(14)		(53)		(254)		(99)
Equity in income of nonconsolidated investment		420		309		596		332
Corporate expense, cost of capital elimination
and other unallocated charges		(1,900)		(1,238)		(3,913)		(3,403)
Income (loss) from continuing operations before income taxes	$	11,095	$	(4,590)	$	18,539	$	(97)