Business Segments

9 Months Ended

Sep. 30, 2011

Business Segments [Abstract]

Business Segments

4.    Business Segments

The Company has four reportable business segments: Fluid & Metering Technologies, Health & Science Technologies, Dispensing Equipment and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies Segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for water and wastewater. The Health & Science Technologies Segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting OEM specifications. The Dispensing Equipment Segment produces precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses. The Fire & Safety/Diversified Products Segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, and engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications.

Information on the Company's business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties. Certain prior year amounts have been revised to reflect the movement of the Pharma group from the Fluid & Metering Technologies Segment to the Health & Science Technologies Segment.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
	(In thousands)
Net sales
Fluid & Metering Technologies:
External customers	$	201,821		$	169,574		$	602,109		$	505,128
Intersegment sales		123			196			359			553
Total group sales		201,944			169,770			602,468			505,681
Health & Science Technologies:
External customers		176,501			110,856			453,534			307,493
Intersegment sales		263			574			984			3,459
Total group sales		176,764			111,430			454,518			310,952
Dispensing Equipment:
External customers		25,092			26,352			93,079			100,992
Intersegment sales		51			128			368			177
Total group sales		25,143			26,480			93,447			101,169
Fire & Safety/Diversified Products:
External customers		73,467			66,949			209,046			194,242
Intersegment sales		125			44			321			143
Total group sales		73,592			66,993			209,367			194,385
Intersegment elimination		(562	)		(942	)		(2,032	)		(4,332	)
Total net sales	$	476,881		$	373,731		$	1,357,768		$	1,107,855
Operating income
Fluid & Metering Technologies	$	39,519		$	29,941		$	120,044		$	90,391
Health & Science Technologies		20,651			23,274			79,830			64,186
Dispensing Equipment		946			2,711			16,962			19,062
Fire & Safety/Diversified Products		18,317			17,045			50,308			44,032
Corporate office and other		(8,128	)		(10,532	)		(38,489	)		(34,559	)
Total operating income		71,305			62,439			228,655			183,112
Interest expense		7,763			4,162			20,937			11,195
Other expense-net		(441	)		(1,101	)		(1,001	)		(608	)
Income before taxes	$	63,101		$	57,176		$	206,717		$	171,309

	September 30, 2011		December 31, 2010
	(In thousands)
Assets:
Fluid & Metering Technologies	$	1,069,132	$	1,040,601
Health & Science Technologies		1,216,982		718,884
Dispensing Equipment		244,220		205,540
Fire & Safety/Diversified Products		292,919		278,567
Corporate office and other(1)		70,475		138,103
Total assets	$	2,893,728	$	2,381,695

(1) Includes intersegment eliminations.