Segment Reporting

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Revenues:
Infrastructure Solutions	$	149,091	$	147,260	$	271,564	$	269,584
Corrosion Protection	106,022		102,923		207,765		210,931
Energy Services	81,983		72,685		166,933		148,587
Total revenues	$	337,096	$	322,868	$	646,262	$	629,102
Gross profit:
Infrastructure Solutions (1)	$	39,031	$	35,951	$	67,646	$	61,505
Corrosion Protection	21,887		25,034		42,716		49,175
Energy Services	11,135		10,933		20,881		22,301
Total gross profit	$	72,053	$	71,918	$	131,243	$	132,981
Operating income:
Infrastructure Solutions (2)	$	12,115	$	12,876	$	19,447	$	14,334
Corrosion Protection	936		5,277		1,436		8,968
Energy Services	1,472		2,466		2,765		6,451
Total operating income	$	14,523	$	20,619	$	23,648	$	29,753

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⁽¹⁾  Includes charges of $1.0 million and $1.1 million in the quarter and six months ended June 30, 2015, respectively, related to the 2014 Restructuring (see Note 3).

⁽²⁾  Includes charges of $5.7 million and $6.5 million in the quarter and six months ended June 30, 2015, respectively, related to the 2014 Restructuring (see Note 3).

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

	Quarters Ended June 30,					Six Months Ended June 30,
	2015			2014		2015		2014
Revenues (1):
United States	$	252,834		$	227,618	$	475,975	$	438,248
Canada	39,400			42,212		86,052		84,075
Europe	13,646			21,175		27,763		43,791
Other foreign	31,216			31,863		56,472		62,988
Total revenues	$	337,096		$	322,868	$	646,262	$	629,102
Gross profit:
United States	$	54,639		$	50,891	$	92,493	$	92,284
Canada	8,491			9,934		20,680		18,996
Europe	3,835			4,543		8,060		9,301
Other foreign	5,088			6,550		10,010		12,400
Total gross profit	$	72,053		$	71,918	$	131,243	$	132,981
Operating income (loss):
United States	$	10,644		$	11,693	$	7,724	$	14,089
Canada	4,836			6,129		13,442		11,552
Europe	469			851		1,940		1,378
Other foreign	(1,426		)	1,946		542		2,734
Total operating income	$	14,523		$	20,619	$	23,648	$	29,753

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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.