Segment Information

6 Months Ended

Jun. 30, 2011

Segment Information

Segment Information

10.          Segment Information

The Company is organized into three reportable segments. The segments are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North American segment, comprising primarily the United States and Canada, the European segment and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the south Pacific and the Middle East. These segments are similar in several ways, including the types of materials, the production processes, the distribution channels and the product applications.

The following table illustrates certain measurements used by management to assess the performance as of or for the following periods:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2011			2010			2011			2010
Net Sales
North America	$	139,112		$	134,963		$	243,734		$	235,494
Europe	35,648			28,481			61,446			49,592
Asia/Pacific	2,815			2,170			4,692			4,348
Administrative and all other	237			—			476			—
Total	$	177,812		$	165,614		$	310,348		$	289,434
Sales to Other Segments*
North America	$	1,490		$	966		$	2,812		$	1,609
Europe	169			15			250			67
Asia/Pacific	2,044			1,949			4,155			3,597
Total	$	3,703		$	2,930		$	7,217		$	5,273
Income (Loss) from Operations
North America	$	30,793		$	32,890		$	45,843		$	53,368
Europe	2,650			2,534			1,196			698
Asia/Pacific	(552		)	(117		)	(1,265		)	(309		)
Administrative and all other	(1,683		)	(1,370		)	(2,284		)	(2,727		)
Total	$	31,208		$	33,937		$	43,490		$	51,030

* The sales to other segments are eliminated on consolidation.

					At
	At June 30,				December 31,
(in thousands)	2011		2010		2010
Total Assets
North America	$	595,842	$	549,130	$	557,762
Europe	140,572		116,637		123,669
Asia/Pacific	25,461		21,327		25,576
Administrative and all other	102,700		155,423		167,702
Total	$	864,575	$	842,517	$	874,709

Total assets from discontinued operations of $32.6 million at June 30, 2010, are included in “Administrative and all other.” Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore, has been included in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $191.5 million, $173.6 million, and $274.6 million, as of June 30, 2011 and 2010, and December 31, 2010, respectively. Real estate assets previously allocated to the venting products segment have been allocated to the “Administrative and all other” as of August 31, 2010. See Note 11.