Segment Reporting

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

Effective in the fourth quarter of 2014, the Company realigned its existing three operating segments, which are also its reportable segments: Infrastructure Solutions; Corrosion Protection; and Energy Services. The Company’s operating segments correspond to its management organizational structure. Each operating segment has a president who reports to the Company’s chief executive officer, who is also the chief operating decision manager (“CODM”). The operating results and financial information reported by each of the segments are evaluated separately, regularly reviewed and used by the CODM to evaluate segment performance, allocate resources and determine management incentive compensation.

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 March 31,
	2015		2014
Revenues:
Infrastructure Solutions	$	122,473	$	122,324
Corrosion Protection	101,743		108,008
Energy Services	84,950		75,902
Total revenues	$	309,166	$	306,234
Gross profit:
Infrastructure Solutions	$	28,615	$	25,554
Corrosion Protection	20,829		24,141
Energy Services	9,746		11,368
Total gross profit	$	59,190	$	61,063
Operating income:
Infrastructure Solutions	$	7,332	$	1,458
Corrosion Protection	500		3,691
Energy Services	1,293		3,985
Total operating income	$	9,125	$	9,134

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

	Quarters Ended March 31,
	2015			2014
Revenues (1):
United States	$	223,141		$	210,630
Canada	46,651			41,864
Europe	14,118			22,616
Other foreign	25,256			31,124
Total revenues	$	309,166		$	306,234
Gross profit:
United States	$	37,854		$	41,393
Canada	12,188			9,062
Europe	4,225			4,758
Other foreign	4,923			5,850
Total gross profit	$	59,190		$	61,063
Operating income (loss):
United States	$	(2,913	)	$	2,396
Canada	8,599			5,423
Europe	1,471			527
Other foreign	1,968			788
Total operating income	$	9,125		$	9,134

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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.