Note 8 - Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

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 such, the Company is organized into three reportable segments: Energy and Mining; Water and Wastewater; and Commercial and Structural. Each reportable segment has a senior operating vice president who reports to the chief operating decision maker (“CODM”). The operating results and financial information reported by each segment are evaluated separately, regularly reviewed and used by the CODM to evaluate segment performance, allocate overall resources and determine management incentive compensation.

During the first quarter of 2014, the Company reorganized its North American Water and Wastewater and International Water and Wastewater reportable segments into a single, reportable segment titled Water and Wastewater. As a result of this reorganization, the entire Water and Wastewater segment reports to the Senior Vice President - Water and Wastewater, who, in turn, reports to the CODM. All future filings will combine these two previously reported segments into a single Waste and Wastewater segment.

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 June 30,				Six Months Ended June 30,
	2014		2013		2014			2013
Revenues:
Energy and Mining	$	175,608	$	108,592	$	359,518		$	217,283
Water and Wastewater	129,710		115,736		235,843			219,531
Commercial and Structural	17,550		17,772		33,741			31,262
Total revenues	$	322,868	$	242,100	$	629,102		$	468,076
Gross profit:
Energy and Mining	$	35,967	$	26,294	$	71,476		$	50,560
Water and Wastewater	29,257		25,576		49,359			44,737
Commercial and Structural	6,694		6,698		12,146			11,408
Total gross profit	$	71,918	$	58,568	$	132,981		$	106,705
Operating income (loss):
Energy and Mining	$	7,743	$	6,156	$	15,418		$	11,607
Water and Wastewater	12,654		9,040		15,674			11,602
Commercial and Structural	222		627		(1,339		)	(568		)
Total operating income	$	20,619	$	15,823	$	29,753		$	22,641

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

	Quarters Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Revenues(1):
United States	$	227,618	$	155,444	$	438,248	$	294,191
Canada	42,212		35,752		84,075		75,146
Europe	21,175		22,337		43,791		44,987
Other foreign	31,863		28,567		62,988		53,752
Total revenues	$	322,868	$	242,100	$	629,102	$	468,076
Gross profit:
United States	$	50,891	$	38,055	$	92,284	$	67,168
Canada	9,934		8,100		18,996		17,402
Europe	4,543		5,680		9,301		10,684
Other foreign	6,550		6,733		12,400		11,451
Total gross profit	$	71,918	$	58,568	$	132,981	$	106,705
Operating income:
United States	$	11,693	$	7,231	$	14,089	$	7,126
Canada	6,129		4,477		11,552		10,225
Europe	851		1,955		1,378		2,823
Other foreign	1,946		2,160		2,734		2,467
Total operating income	$	20,619	$	15,823	$	29,753	$	22,641

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⁽¹⁾  Revenues are attributed to the country of origin for the Company’s legal entities. For a significant majority of its legal entities, the country of origin relates to the country or geographic area that it services.