Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information

Note 10 – Segment Information

In the first quarter of 2011, due to the acquisition of Curamik and the manner in which we mange  our business, we determined that it was appropriate to adjust our segment reporting 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						Nine Months Ended
	September 30, 2011			September 30, 2010			September 30, 2011			September 30, 2010
Core Strategic
High Performance Foams
Net sales	$	49,795		$	40,617		$	132,950		$	111,313
Operating income		10,717			7,462			22,010			15,213
Printed Circuit Materials
Net sales	$	43,007		$	37,414		$	129,235		$	105,567
Operating income		2,822			3,196			12,056			9,795
Power Electronic Solutions
Curamik Electronic Solutions
Net sales	$	36,764			-		$	104,274			-
Operating income		4,133			-			7,290			-
Power Distribution Systems
Net sales	$	11,282		$	10,359		$	37,696		$	29,638
Operating income		342			1,309			4,251			1,468
Thermal Management Solutions
Net sales	$	264		$	282		$	579		$	666
Operating loss		(1,304	)		(881	)		(4,271	)		(2,542	)
Other
Net sales	$	6,496		$	12,659		$	22,619		$	34,692
Operating income		(92	)		164			2,054			805

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