Annual report pursuant to Section 13 and 15(d)

Segment Information

v2.4.0.6
Segment Information
 12 Months Ended
Mar. 31, 2013
Segment Information [Abstract]  
Segment Information

Note 13 — Segment Information:

The Company has one reporting segment as its operating segments meet the requirement for aggregation. The Company and its operating subsidiaries design and manufacture heat transfer and vacuum equipment for the chemical, petrochemical, refining and electric power generating markets. In December 2010, the Company acquired Energy Steel, which supplies components and raw materials for the nuclear power generating market. Heat transfer equipment includes surface condensers, Heliflows, water heaters and various types of heat exchangers. Vacuum equipment includes steam jet ejector vacuum systems and liquid ring vacuum pumps. These products are sold individually or combined into package systems. The Company also services and sells spare parts for its equipment.

Net sales by product line for the following fiscal years are:

 

                         
    Year ended March 31,  
    2013     2012     2011  

Heat transfer equipment

   $ 43,764     $ 27,927     $ 28,923  

Vacuum equipment

     22,891       43,635       26,227  

All other

     38,318       31,624       19,085  
   

 

 

    

 

 

    

 

 

  

Net sales

   $ 104,973     $ 103,186     $ 74,235  
   

 

 

    

 

 

    

 

 

  

The breakdown of net sales by geographic area for the following fiscal years is:

 

                         
    Year ended March 31,  
    2013     2012     2011  

Net Sales:

                        

Africa

   $ 235     $ 371     $ 1,677  

Asia

     17,048       17,339       16,134  

Australia & New Zealand

     29       2,840       62  

Canada

     7,084       4,626       3,059  

Central America

     4,633       224       76  

Mexico

     89       112       930  

Middle East

     14,834       16,264       11,857  

South America

     3,299       5,407       6,050  

U.S.

     55,695       55,432       33,358  

Western Europe

     2,027       571       1,032  
   

 

 

    

 

 

    

 

 

  

Net sales

   $ 104,973     $ 103,186     $ 74,235  
   

 

 

    

 

 

    

 

 

  

The final destination of products shipped is the basis used to determine net sales by geographic area. No sales were made to the terrorist sponsoring nations of Sudan, Iran, Cuba, North Korea or Syria.

In each of fiscal 2012 and fiscal 2011, total sales to one customer amounted to 14% of total net sales. In fiscal 2012 and fiscal 2011, it was not the same customer whose sales accounted for 14% of total sales. There were no sales to a single customer that amounted to 10% or more of total consolidated sales in fiscal 2013.