Segment Information

6 Months Ended

Jun. 30, 2011

Segment Information

Note 10 – Segment Information

In the first quarter of 2011, due to the acquisition of Curamik and management’s current view of our business, we determined that it was appropriate to adjust our segment structure.

Our previous reporting structure was comprised of three business categories – Core Strategic, Development Stage, and Other.  Our new structure eliminates the Development Stage category and expands the Core Strategic category, as shown in the below table:

Old Structure		New Structure
Core Strategic		Core Strategic
	High Performance Foams		High Performance Foams
	Printed Circuit Materials		Printed Circuit Materials
	Power Distribution Systems		Power Electronic Solutions
Development Stage				Curamik Electronic Solutions
	Custom Electrical Components			Power Distribution Systems
	Thermal Management Systems			Thermal Management Solutions
Other		Other

In the new structure, we created a new segment called “Power Electronic Solutions”, which is comprised of three operating segments – Curamik Electronic Solutions, Power Distribution Systems, and Thermal Management Solutions.  We now separately report the results of operations for all three of these segments.  Also, we eliminated the Development Stage category, as the Thermal Management Systems business is now part of our Core Strategic segment of Power Electronic Solutions and the Custom Electrical Components segment will now be aggregated in “Other”.  Management concluded that the development activities at the Custom Electrical Components segment were not gaining traction in the market and, therefore, suspended most of the development efforts associated with the segment.  This new structure aligns our reporting with management’s current view of the business, particularly as we work to further penetrate our core target mega-trend markets.

The following table sets forth the information about our reportable segments for the periods indicated:

(Dollars in thousands)	Three Months Ended						Six Months Ended
	June 30, 2011			June 30, 2010			June 30, 2011			June 30, 2010
Core Strategic
High Performance Foams
Net sales	$	44,021		$	38,915		$	83,156		$	70,697
Operating income		6,658			5,529			11,293			7,751
Printed Circuit Materials
Net sales	$	43,375		$	33,582		$	86,228		$	68,154
Operating income		4,405			2,128			9,234			6,599
Power Electronic Solutions
Curamik Electronic Solutions
Net sales	$	34,613			-		$	67,510			-
Operating income		2,855			-			3,157			-
Power Distribution Systems
Net sales	$	13,978		$	10,143		$	26,413		$	19,277
Operating income		1,644			143			3,909			159
Thermal Management Solutions
Net sales	$	184		$	194		$	315		$	384
Operating loss		(1,328	)		(961	)		(2,967	)		(1,661	)
Other
Net sales	$	7,514		$	13,774		$	16,122		$	22,033
Operating income		944			908			2,144			641

Inter-segment sales have been eliminated from the sales data in the previous table