BUSINESS SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2013

BUSINESS SEGMENT INFORMATION [Abstract]

BUSINESS SEGMENT INFORMATION

6.            BUSINESS SEGMENT INFORMATION

The Company operates in one industry with three reportable operating segments, which are geographic in nature. The segments consist of North America, Asia and Europe. The primary criteria by which financial performance is evaluated and resources are allocated are sales and income from operations. The following is a summary of key financial data (dollars in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Total segment sales:
North America	$	32,301		$	35,455		$	61,523		$	71,980
Asia		64,036			43,795			96,760			78,642
Europe		10,591			7,227			20,716			15,217
Total segment sales		106,928			86,477			178,999			165,839
Reconciling item:
Intersegment sales		(12,947	)		(13,255	)		(21,990	)		(27,056	)
Net sales	$	93,981		$	73,222		$	157,009		$	138,783
Income (loss) from operations:
North America	$	(2,012	)	$	1,953		$	(3,495	)	$	4,263
Asia		4,642			523			3,977			(1,039	)
Europe		(82	)		(143	)		659			538
	$	2,548		$	2,333		$	1,141		$	3,762

The following items are included in the income (loss) from operations presented above:

Recent Acquisitions – During the three and six months ended June 30, 2013, the acquisition of TRP contributed $22.0 million in sales to the Company’s Asia operating segment in each period. During the three and six months ended June 30, 2013, the 2012 acquisitions of Fibreco and Powerbox contributed combined revenues of $3.0 million and $5.9 million, respectively, and income from operations of $0.2 million and $1.1 million, respectively, to the Company’s Europe operating segment. The 2012 Acquisitions did not have a material impact on the Company’s condensed consolidated statement of operations for the three or six months ended June 30, 2012.

Segment Sales – Segment sales are attributed to individual segments based on the geographic source of the billing for such customer sales. Transfers between geographic areas include finished products manufactured in foreign countries which are then transferred to the United States and Europe for sale; finished goods manufactured in the United States which are transferred to Europe and Asia for sale; and semi-finished components manufactured in the United States which are sold to Asia for further processing. Income (loss) from operations represents net sales less operating costs and expenses.