Note 9 - Segment Reporting

9 Months Ended

Sep. 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. During 2014, all filings with the Securities and Exchange Commission (“SEC”) have combined 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 September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Revenues:
Energy and Mining	$	197,510		$	168,708		$	557,028		$	385,991
Water and Wastewater	135,649			122,149			371,493			341,680
Commercial and Structural	16,979			16,808			50,719			48,070
Total revenues	$	350,138		$	307,665		$	979,240		$	775,741
Gross profit:
Energy and Mining	$	29,380		$	37,118		$	100,856		$	87,678
Water and Wastewater	26,719			26,473			76,078			71,210
Commercial and Structural	7,840			5,820			19,986			17,228
Total gross profit	$	63,939		$	69,411		$	196,920		$	176,116
Operating income (loss):
Energy and Mining	$	(9,757	)	$	12,874		$	5,661		$	24,481
Water and Wastewater	(5,450		)	10,071			10,224			21,672
Commercial and Structural	1,273			(913		)	(66		)	(1,480		)
Total operating income (loss)	$	(13,934	)	$	22,032		$	15,819		$	44,673

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

	Quarters Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Revenues(1):
United States	$	242,795		$	202,353	$	681,043		$	496,544
Canada	55,742			56,026		139,817			131,172
Europe	20,096			20,605		63,887			65,592
Other foreign	31,505			28,681		94,493			82,433
Total revenues	$	350,138		$	307,665	$	979,240		$	775,741
Gross profit:
United States	$	40,507		$	43,838	$	132,790		$	111,006
Canada	13,893			14,351		32,889			31,753
Europe	3,544			4,769		12,846			15,453
Other foreign	5,995			6,453		18,395			17,904
Total gross profit	$	63,939		$	69,411	$	196,920		$	176,116
Operating income (loss):
United States	$	(12,955	)	$	8,941	$	604		$	16,067
Canada	10,359			10,397		21,911			20,622
Europe	(687		)	1,106		692			3,928
Other foreign	(10,651		)	1,588		(7,388		)	4,056
Total operating income (loss)	$	(13,934	)	$	22,032	$	15,819		$	44,673

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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.