Business Segments

12 Months Ended

Sep. 30, 2012

Business Segments [Abstract]

Business Segments

M.  Business Segments

We manage our business through operating segments, which are comprised of two reportable business segments: Electrical Power Products and Process Control Systems. Electrical Power Products includes equipment and systems for the distribution and control of electrical energy.  Process Control Systems consists principally of instrumentation, computer controls, communications and data management systems to control and manage critical processes.

The table below reflects certain information relating to our operations by business segment. All revenues represent sales from unaffiliated customers. The accounting policies of the business segments are the same as those described in the summary of significant accounting policies. Corporate expenses are allocated to the operating business segments primarily based on revenues.  The corporate assets are mainly cash, cash equivalents and marketable securities.

Detailed information regarding our business segments is shown below (in thousands):

	Year Ended September 30,
	2012	2011	2010
Revenues:
Electrical Power Products	$ 686,581	$ 533,339	$ 517,069
Process Control Systems	30,613	29,058	33,623
Total	$ 717,194	$ 562,397	$ 550,692
Gross profit:
Electrical Power Products	$ 132,458	$ 91,730	$ 129,780
Process Control Systems	7,480	8,200	12,277
Total	$ 139,938	$ 99,930	$ 142,057
Income before income taxes:
Electrical Power Products	$ 48,055	$ 3,888	$ 41,378
Process Control Systems	179	109	3,683
Total	$ 48,234	$ 3,997	$ 45,061
Depreciation and amortization:
Electrical Power Products	$ 13,010	$ 15,188	$ 13,453
Process Control Systems	55	162	177
Total	$ 13,065	$ 15,350	$ 13,630

Income before income taxes includes a $1.2 million gain recorded in the second quarter of fiscal 2011 resulting from cash received from the sale of our 50% equity investment in Kazakhstan.  This gain was recorded in our Electrical Power Products business segment.  Income before taxes for fiscal 2011 includes an impairment charge of $7.2 million, which was recorded in the fourth quarter, to reflect the impairment for the value of the intangible assets that were recorded in relation to the acquisition of Powell Canada.  This loss was recorded in our Electrical Power Products business segment.

Income before income taxes for fiscal 2010 includes an impairment charge of $7.5 million to reflect the impairment for the value of goodwill that was recorded in relation to the acquisition of Powell Canada.  This loss was recorded in our Electrical Power Products business segment.

Geographic Information

Revenues are as follows (in thousands):

	Year Ended September 30,
	2012	2011	2010
Europe (including former Soviet Union)	$ 24,857	$ 7,107	$ 25,174
Far East	14,865	17,172	24,998
Middle East and Africa	79,781	46,304	25,880
North, Central and South America (excluding U.S.)	184,935	112,949	81,506
United States	412,756	378,865	393,134
Total revenues	$ 717,194	$ 562,397	$ 550,692

The United States accounted for 58%,  67% and 71% of consolidated revenues in fiscal years 2012, 2011 and 2010, respectively.  During fiscal years 2012 and 2011, our operations in Canada accounted for13% and 17% of revenues with customers, respectively.  During fiscal year 2012, one petrochemical project being shipped to Colombia accounted for11% of revenues with customers. 

	September 30,
	2012	2011
Long-lived assets:
United States	$ 60,012	$ 47,966
United Kingdom	6,238	6,409
Canada	12,402	5,262
Total	$ 78,652	$ 59,637

Long-lived assets consist of property, plant and equipment net of accumulated depreciation.