Segment Data

3 Months Ended

Mar. 31, 2012

Segment Data [Abstract]

Business Segment Information

16. Segment Data

The Company operates with in business segments - Oil Field and Power Transmission. The two operating segments are supported by a common corporate group. Corporate expenses and certain assets are allocated to the operating segments based primarily upon third-party revenues. Inter-segment sales and transfers are accounted for as if the sales and transfers were to third parties, that is, at current market prices, as available. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in the notes to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2011. The following is a summary of key segment information (in thousands of dollars):

Three Months Ended March 31, 2012
				Power			Corporate
	Oil Field			Transmission			& Other			Total
Gross sales	$	240,290		$	47,936		$	-		$	288,226
Inter-segment sales		(4,283	)		(4,407	)		-			(8,690	)
Net sales	$	236,007		$	43,529		$	-		$	279,536
Operating income	$	22,473		$	1,521		$	-		$	23,994
Other (expense) income, net		(3,178	)		(14	)		(576	)		(3,768	)
Earnings (loss) before income tax provision	$	19,295		$	1,507		$	(576	)	$	20,226
Three Months Ended March 31, 2011
				Power			Corporate
	Oil Field			Transmission			& Other			Total
Gross sales	$	155,183		$	42,619		$	-		$	197,802
Inter-segment sales		(1,461	)		(1,944	)		-			(3,405	)
Net sales	$	153,722		$	40,675		$	-		$	194,397
Operating income	$	17,194		$	2,259		$	-		$	19,453
Other income (expense), net		41			(11	)		(106	)		(76	)
Earnings (loss) before income tax provision	$	17,235		$	2,248		$	(106	)	$	19,377