Business Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Business Segment Information

17. Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines and presented in three reportable segments. The results of the segments are reviewed through to the “Income from operations” line on the Consolidated Statements of Operations. The accounting policies of the segments are the same as those in the consolidated financial statements. Except for the information reported on a segment basis, the Company does not accumulate net sales information by product or service and therefore, the Company does not disclose net sales by product or service because to do so would be impractical. The Company’s reportable segments are however organized as groups of similar products and services, defined as follows:

Environmental Segment

Our Environmental segment, formerly known as the Air Pollution Control segment, provides the design and manufacture of product recovery and air pollution control technologies that enable our customers to meet compliance targets for toxic emissions, fumes, volatile organic compounds, process and industrial odors. These products and solutions include chemical and biological scrubbers, fabric filters and cartridge collectors, thermal and catalytic oxidation systems, cyclones, separators, gas absorbers and industrial ventilation systems. This segment also provides component parts for industrial air systems and provides cost effective alternatives to traditional duct components, as well as custom metal engineered fabrication services. These products and services are applicable to a wide variety of industries. During 2015, the Company concluded that changing the name of this segment was appropriate to more accurately describe the long-term goals of the Company in conjunction with the products and services offered within the segment.

Energy Segment

Our Energy segment provides customized solutions for the power and petrochemical industry. This includes gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction (“SCR”) and selective non-catalytic reduction (“SNCR”) systems, acoustical components and silencers, secondary separators (nuclear plant reactor vessels) and expansion joints, the design and manufacture of technologies for flue gas and diverter dampers, non-metallic expansion joints, natural gas turbine exhaust systems, and silencer and precipitator applications, primarily for coal-fired and natural gas power plants, refining, oil production and petrochemical processing, as well as a variety of other industries.

Fluid Handling and Filtration Segment

Our Fluid Handling and Filtration segment provides the design and manufacture of high quality pump, filtration and fume exhaust solutions. This includes centrifugal pumps for corrosive, abrasive and high temperature liquids, filter products for air and liquid filtration, precious metal recovery systems, carbonate precipitators, and technologically advanced air movement and exhaust systems. These products are applicable to a wide variety of industries, particularly the aquarium/aquaculture, plating and metal finishing, food and beverage, chemical/petrochemical, wastewater treatment, desalination and pharmaceutical markets.

	2015			2014			2013
Net Sales (less intra-, inter-segment sales)
(Table only in thousands)
Environmental Segment	$	158,371		$	127,707		$	101,150
Energy Segment		142,150			70,285			69,355
Fluid Handling and Filtration Segment		67,610			65,638			25,199
Corporate and Other (1)		(709	)		(413	)		1,613
Net sales	$	367,422		$	263,217		$	197,317

(1) Includes adjustment for revenue on intercompany jobs.

	2015			2014			2013
Income (Loss) from Operations
(Table only in thousands)
Environmental Segment	$	17,021		$	16,803		$	15,422
Energy Segment		3,488			7,799			9,336
Fluid Handling and Filtration Segment		11,741			13,188			1,443
Corporate and Other (2)		(26,592	)		(14,297	)		(17,756	)
Eliminations		(709	)		(1,830	)		(1,473	)
Income from operations	$	4,949		$	21,663		$	6,972

(2) Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses.

	December 31,
	2015		2014		2013
Property and Equipment Additions
(Table only in thousands)
Environmental Segment	$	166	$	486	$	266
Energy Segment		429		136		476
Fluid Handling and Filtration Segment		150		486		628
Corporate and Other		18		43		7
Property and equipment additions	$	763	$	1,151	$	1,377

	2015		2014		2013
Depreciation and Amortization
(Table only in thousands)
Environmental Segment	$	4,443	$	2,263	$	1,264
Energy Segment		5,293		2,329		2,174
Fluid Handling and Filtration Segment		6,331		6,545		3,048
Corporate and Other		453		131		161
Depreciation and amortization	$	16,520	$	11,268	$	6,647

	December 31,
	2015		2014
Identifiable Assets
(Table only in thousands)
Environmental Segment	$	135,171	$	135,392
Energy Segment		283,002		92,845
Fluid Handling and Filtration Segment		161,394		168,605
Corporate and Other (3)		19,252		15,265
Identifiable assets	$	598,819	$	412,107

(3) Corporate assets primarily consist of cash and income tax related assets.

	December 31,
	2015		2014
(Table only in thousands)
Environmental Segment	$	55,031	$	55,031
Energy Segment		72,075		17,773
Fluid Handling and Filtration Segment		93,057		93,057
Goodwill	$	220,163	$	165,861

Intra-segment and Inter-segment Revenues

The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:

	Year Ended December 31, 2015
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Environmental Segment	$	167,247	$	(6,744	)	$	—		$	(1,937	)	$	(195	)	$	—		$	158,371
Energy Segment		147,661		(4,876	)		(635	)		—			—			—			142,150
Fluid Handling and Filtration Segment		70,084		(2,277	)		(197	)		—			—			—			67,610
Corporate and Other (4)		—		—			—			—			—			(709	)		(709	)
Net Sales	$	384,992	$	(13,897	)	$	(832	)	$	(1,937	)	$	(195	)	$	(709	)	$	367,422

	Year Ended December 31, 2014
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Environmental Segment	$	136,544	$	(7,089	)	$	—		$	(1,403	)	$	(345	)	$	—		$	127,707
Energy Segment		76,302		(5,964	)		(53	)		—			—			—			70,285
Fluid Handling and Filtration Segment		67,558		(1,845	)		(75	)		—			—			—			65,638
Corporate and Other (4)		—		—			—			—			—			(413	)		(413	)
Net Sales	$	280,404	$	(14,898	)	$	(128	)	$	(1,403	)	$	(345	)	$	(413	)	$	263,217

	Year Ended December 31, 2013
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other		Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Environmental Segment	$	108,939	$	(6,552	)	$	—		$	(831	)	$	(406	)	$	—	$	101,150
Energy Segment		71,455		(1,921	)		(179	)		—			—			—		69,355
Fluid Handling and Filtration Segment		26,181		(721	)		(261	)		—			—			—		25,199
Corporate and Other (4)		1,478		—			—			—			—			135		1,613
Net Sales	$	208,053	$	(9,194	)	$	(440	)	$	(831	)	$	(406	)	$	135	$	197,317

(4) Includes adjustment for revenue on intercompany jobs.