Segment Information

12 Months Ended

Mar. 30, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

We have two reportable segments: Industrial and Water Treatment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Product costs and expenses for each segment are based on actual costs incurred along with cost allocation of shared and centralized functions. We evaluate performance based on profit or loss from operations before income taxes not including nonrecurring gains and losses. Reportable segments are defined primarily by product and type of customer. Segments are responsible for the sales, marketing and development of their products and services. The segments do not have separate accounting, administration, customer service or purchasing functions. There are no intersegment sales and no operating segments have been aggregated. Given our nature, it is not practical to disclose revenues from external customers for each product or each group of similar products. No single customer’s revenues amounted to 10% or more of our total revenue. Sales are primarily within the United States and all assets are located within the United States.

Reportable Segments	Industrial		Water Treatment		Total
(In thousands)
Fiscal Year Ended March 30, 2014:
Sales	$	244,888	$	103,375	$	348,263
Gross profit	32,041		29,559		61,600
Selling, general, and administrative expenses	19,781		13,729		33,510
Operating income	12,260		15,830		28,090
Identifiable assets*	$	141,506	$	29,001	$	170,507
Fiscal Year Ended March 31, 2013:
Sales	$	248,556	$	101,831	$	350,387
Gross profit	28,878		28,058		56,936
Selling, general, and administrative expenses	19,923		11,683		31,606
Operating income	8,955		16,375		25,330
Identifiable assets*	$	143,827	$	25,448	$	169,275
Fiscal Year Ended April 1, 2012:
Sales	$	251,451	$	92,383	$	343,834
Gross profit	40,357		25,511		65,868
Selling, general, and administrative expenses	19,805		10,954		30,759
Operating income	20,552		14,557		35,109
Identifiable assets*	$	129,782	$	23,543	$	153,325

* Unallocated assets consisting primarily of cash and cash equivalents, investments and prepaid expenses were $66.7 million at March 30, 2014, $52.9 million at March 31, 2013 and $48.0 million at April 1, 2012. Additionally, assets associated with the discontinued operations of the Pharmaceutical segment were zero at March 30, 2014 and March 31, 2013, and $1.2 million at April 1, 2012.

In fiscal 2013, gross profit for our Industrial segment was negatively impacted by a $7.2 million (pre-tax) charge related to our withdrawal from a multiemployer pension plan (see Note 8 for further discussion) as well as a $3.2 million (pre-tax) charge related to a legal settlement (see Note 9 for further discussion). The cumulative impact of these pre-tax charges to the industrial gross profit for fiscal 2013 was $10.4 million.