Annual report pursuant to Section 13 and 15(d)

Segment Information

v2.4.0.6
Segment Information
 12 Months Ended
Mar. 31, 2012
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,  
    2012     2011     2010  

Heat transfer equipment

   $ 27,927     $ 28,923     $ 23,170  

Vacuum equipment

     43,635       26,227       24,564  

All other

     31,624       19,085       14,455  
   

 

 

    

 

 

    

 

 

  

Net sales

   $ 103,186     $ 74,235     $ 62,189  
   

 

 

    

 

 

    

 

 

  

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

 

                         
    Year ended March 31,  
    2012     2011     2010  

Net Sales:

                        

Africa

   $ 371     $ 1,677     $ 2,440  

Asia

     17,339       16,134       20,308  

Australia & New Zealand

     2,840       62       37  

Canada

     4,626       3,059       2,032  

Mexico

     112       930       700  

Middle East

     16,264       11,857       6,390  

South America

     5,407       6,050       1,327  

U.S.

     55,432       33,358       27,927  

Western Europe

     571       1,032       1,014  

Other

     224       76       14  
   

 

 

    

 

 

    

 

 

  

Net sales

   $ 103,186     $ 74,235     $ 62,189  
   

 

 

    

 

 

    

 

 

  

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 2010.