Note 9 - Segment Reporting

6 Months Ended

Jun. 30, 2011

Segment Reporting Disclosure [Text Block]

9.       SEGMENT REPORTING

The Company operates in three distinct markets: energy and mining, sewer rehabilitation and water rehabilitation services. Management organizes the enterprise around differences in products and services, as well as by geographic areas. Within the sewer rehabilitation market, the Company operates in three distinct geographies: North America, Europe and internationally outside of North America and Europe. As such, the Company is organized into five reportable segments: Energy and Mining, North American Sewer Rehabilitation, European Sewer Rehabilitation, Asia-Pacific Sewer Rehabilitation and Water Rehabilitation. Each segment is regularly reviewed and evaluated separately.

The following disaggregated financial results have been prepared using a management approach that is consistent with the basis and manner with which management internally disaggregates financial information for the purpose of making internal operating decisions. The Company evaluates performance based on stand-alone operating income (loss).

Financial information by segment was as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenues:
Energy and Mining	$	100,400		$	96,734		$	195,857		$	174,089
North American Sewer Rehabilitation		87,430			99,590			167,235			188,704
European Sewer Rehabilitation		23,609			18,003			44,306			35,633
Asia-Pacific Sewer Rehabilitation		10,735			13,750			22,946			23,623
Water Rehabilitation		2,811			2,115			5,228			7,325
Total revenues	$	224,985		$	230,192		$	435,572		$	429,374
Gross profit (loss):
Energy and Mining	$	24,823		$	27,752		$	47,914		$	48,862
North American Sewer Rehabilitation		13,650			23,180			24,948			44,258
European Sewer Rehabilitation		6,107			4,972			10,624			9,250
Asia-Pacific Sewer Rehabilitation		1,536			3,137			3,889			4,692
Water Rehabilitation		(276	)		158			(361	)		818
Total gross profit	$	45,840		$	59,199		$	87,014		$	107,880
Operating income (loss):
Energy and Mining	$	6,987		$	11,356		$	13,377		$	17,085
North American Sewer Rehabilitation		627			9,847			(612	)		17,354
European Sewer Rehabilitation		1,772			1,268			2,409			1,232
Asia-Pacific Sewer Rehabilitation		(649	)		594			(480	)		(230	)
Water Rehabilitation		(897	)		(318	)		(1,365	)		(187	)
Total operating income	$	7,840		$	22,747		$	13,329		$	35,254

The following table summarizes revenues, gross profit and operating income by geographic region (in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
Revenues:
United States	$	136,819		$	157,867	$	250,501		$	288,154
Canada		35,484			28,982		80,465			60,498
Europe		27,847			20,926		52,195			41,764
Other foreign		24,835			22,417		52,411			38,958
Total revenues	$	224,985		$	230,192	$	435,572		$	429,374
Gross profit:
United States	$	25,202		$	38,260	$	44,034		$	70,225
Canada		9,396			9,923		21,205			18,697
Europe		7,201			5,794		12,629			11,009
Other foreign		4,041			5,222		9,146			7,949
Total gross profit	$	45,840		$	59,199	$	87,014		$	107,880
Operating income (loss):
United States	$	(1,521	)	$	11,666	$	(7,689	)	$	17,020
Canada		4,934			6,251		12,683			11,267
Europe		2,899			2,039		4,202			3,586
Other foreign		1,528			2,791		4,133			3,381
Total operating income	$	7,840		$	22,747	$	13,329		$	35,254