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Segment Reporting
6 Months Ended
Jun. 30, 2012
Segment Reporting [Abstract]  
Segment Reporting

Note 10 — Segment Reporting

The Company has two reportable operating segments: MRO and OEM. The Company’s MRO segment is a distributor of products and services to the industrial, commercial, institutional, and governmental maintenance, repair and operations marketplace. The Company’s OEM segment manufactures, sells and distributes production and specialized component parts to the original equipment marketplace. The Company’s two reportable segments are distinguished by the nature of products distributed and sold, types of customers and manner of servicing them. The Company evaluates performance and allocates resources to reportable segments primarily based on operating income.

The following table presents summary financial information for the Company’s reportable segments:

 

                                 
    (Amounts in thousands)  
    Three Months Ended
June  30,
    Six Months Ended
June  30,
 
    2012     2011     2012     2011  

Net sales

                               

MRO

  $ 69,830     $ 80,625     $ 141,194     $ 159,880  

OEM

    4,518       3,529       9,116       6,853  
   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated total

  $ 74,348     $ 84,154     $ 150,310     $ 166,733  
   

 

 

   

 

 

   

 

 

   

 

 

 
         

Operating income (expense)

                               

MRO

  $ (15,859   $ 1,456     $ (19,283   $ 5,056  

OEM

    606       136       1,197       281  

Goodwill impairment

    (28,306     —         (28,306     —    

Gain on sale of assets

    2,122       —         2,122       —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated total

  $ (41,437     1,592       (44,270     5,337  
         

Other income (expense), net

    (89     63       (96     79  

Interest expense

    (142     (71     (224     (583
   

 

 

   

 

 

   

 

 

   

 

 

 
         

Income (loss) from continuing operations before income taxes

  $ (41,668   $ 1,584     $ (44,590   $ 4,833  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

The following table presents total assets for the Company’s reportable segments:

 

                 
    (Amounts in thousands)  
    June 30,
2012
    December 31,
2011
 

Total assets

               

MRO

  $ 167,160     $ 194,422  

OEM

    10,066       10,336  
   

 

 

   

 

 

 

Segment total

    177,226       204,758  

Corporate

    41       17,580  

Discontinued operations

    385       410  
   

 

 

   

 

 

 

Consolidated total

  $ 177,652     $ 222,748