Note 8 - Segment Reporting

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

SEGMENT REPORTING

The Company operates in three distinct markets: energy and mining; water and wastewater; and commercial and structural services. Management organizes the Company around differences in products and services, as well as by geographic areas. Within the water and wastewater market, the Company operates in two distinct geographies: North America and internationally outside of North America. As such, the Company is organized into four reportable segments: Energy and Mining; North American Water and Wastewater; International Water and Wastewater; and Commercial and Structural. Each segment is regularly reviewed and evaluated separately.

During the first quarter of 2013, the Company re-organized its Water and Wastewater businesses to bring all of its operations under one central leadership team. The Company hired a Senior Vice President - Global Water and Wastewater and a Vice President of International Water and Wastewater. The Vice President of International Water and Wastewater is responsible for the European Water and Wastewater operations as well as the Asia-Pacific Water and Wastewater operations and reports directly to the Senior Vice President - Global Water and Wastewater. In connection with this management re-organization, the Company combined its European Water and Wastewater and Asia-Pacific Water and Wastewater reportable segments into one reportable segment titled International Water and Wastewater. All future filings will combine these previously reported segments into one.

During the third quarter of 2013, the Company acquired Brinderson. Brinderson is a leading integrated service provider of maintenance, construction, engineering and turnaround activities for the upstream and downstream oil and gas markets. For reportable segment purposes, management reports Brinderson in the Company’s Energy and Mining segment.

The quarter and nine months ended September 30, 2013 results include $2.3 million and $4.2 million, respectively, for costs incurred related to the Company’s acquisition of Brinderson and other acquisition targets the Company is no longer pursuing. The quarter and nine months ended September 30, 2012 results include $0.6 million and $2.6 million, respectively, for costs incurred related to the acquisitions of Fyfe LA and Fyfe Asia. The Company recorded these costs under “Acquisition-related expenses” on its consolidated statements of operations.

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. Financial results for discontinued operations have been removed for all periods presented. The Company evaluates performance based on stand-alone operating income (loss).

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

	Quarters Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues:
Energy and Mining	$	168,708		$	137,386		$	385,991		$	377,610
North American Water and Wastewater	95,997			77,818			261,616			231,647
International Water and Wastewater	26,152			27,766			80,064			80,712
Commercial and Structural	16,808			19,897			48,070			55,267
Total revenues	$	307,665		$	262,867		$	775,741		$	745,236
Gross profit:
Energy and Mining	$	37,118		$	33,710		$	87,678		$	93,466
North American Water and Wastewater	21,357			17,183			55,786			48,850
International Water and Wastewater	5,116			2,890			15,424			9,603
Commercial and Structural	5,820			9,148			17,228			25,803
Total gross profit	$	69,411		$	62,931		$	176,116		$	177,722
Operating income (loss):
Energy and Mining	$	12,874		$	21,426		$	24,481		$	42,902
North American Water and Wastewater	10,328			6,289			23,010			16,361
International Water and Wastewater	(257		)	(3,195		)	(1,338		)	(7,542		)
Commercial and Structural	(913		)	2,345			(1,480		)	4,985
Total operating income	$	22,032		$	26,865		$	44,673		$	56,706

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

	Quarters Ended September 30,					Nine Months Ended September 30,
	2013		2012			2013		2012
Revenues:
United States	$	202,353	$	162,427		$	496,544	$	472,059
Canada	56,026		47,141			131,172		130,900
Europe	20,605		21,455			65,592		62,398
Other foreign	28,681		31,844			82,433		79,879
Total revenues	$	307,665	$	262,867		$	775,741	$	745,236
Gross profit:
United States	$	43,838	$	40,375		$	111,006	$	121,487
Canada	14,351		13,352			31,753		33,995
Europe	4,769		5,332			15,453		15,107
Other foreign	6,453		3,872			17,904		7,133
Total gross profit	$	69,411	$	62,931		$	176,116	$	177,722
Operating income (loss):
United States	$	8,941	$	16,422		$	16,067	$	35,552
Canada	10,397		9,069			20,622		20,928
Europe	1,106		1,691			3,928		3,789
Other foreign	1,588		(317		)	4,056		(3,563		)
Total operating income	$	22,032	$	26,865		$	44,673	$	56,706