Segment Reporting

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company has two reportable segments; the recreational vehicle products segment (the “RV Segment”) and the manufactured housing products segment (the “MH Segment”). Intersegment sales are insignificant.

The RV Segment, which accounted for 93 percent and 91 percent of consolidated net sales for the three month periods ended March 31, 2015 and 2014, respectively, manufactures a variety of products used in the production of RVs, including:

● Steel chassis for towable RVs	● Chassis components
● Axles and suspension solutions for towable RVs	● Furniture and mattresses
● Slide-out mechanisms and solutions	● Entry, luggage, patio and ramp doors
● Thermoformed bath, kitchen and other products	● Electric and manual entry steps
● Windows	● Awnings and slide toppers
● Manual, electric and hydraulic stabilizer and     leveling systems	● Other accessories and electronic components

The Company also supplies certain of these products to the RV aftermarket and to adjacent industries, including buses and trailers used to haul boats, livestock, equipment and other cargo. Approximately 78 percent of the Company’s RV Segment net sales for the last twelve months were of products to original equipment manufacturers (“OEMs”) of travel trailer and fifth-wheel RVs.

The MH Segment, which accounted for 7 percent and 9 percent of consolidated net sales for the three month periods ended March 31, 2015 and 2014, respectively, manufactures a variety of products used in the production of manufactured homes, including:

●Vinyl and aluminum windows	●Aluminum and vinyl patio doors
●Thermoformed bath and kitchen products	●Steel chassis and related components
●Steel and fiberglass entry doors	●Axles

The Company also supplies certain of these products to the manufactured housing aftermarket and to adjacent industries, including modular housing and mobile office units. Certain of the Company’s MH Segment customers manufacture both manufactured homes and modular homes, and certain of the products manufactured by the Company are suitable for both types of homes. As a result, the Company is not always able to determine in which type of home its products are installed.

Decisions concerning the allocation of the Company's resources are made by the Company's key executives, with oversight by the Board of Directors. This group evaluates the performance of each segment based upon segment operating profit or loss, generally defined as income or loss before interest and income taxes. Decisions concerning the allocation of resources are also based on each segment’s utilization of assets. Management of debt is a corporate function. The accounting policies of the RV and MH Segments are the same as those described in Note 1 of the Notes to Consolidated Financial Statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

Information relating to segments follows for the:
	Three Months Ended   March 31,
(In thousands)	2015		2014
Net sales:
RV Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	260,357	$	212,130
Motorhomes	21,647		14,384
RV aftermarket	17,209		7,094
Adjacent industries	35,358		25,428
Total RV Segment net sales	334,571		259,036
MH Segment:
Manufactured housing OEMs	17,823		16,517
Manufactured housing aftermarket	3,829		3,467
Adjacent industries	5,234		6,357
Total MH Segment net sales	26,886		26,341
Total net sales	$	361,457	$	285,377

	Three Months Ended   March 31,
(In thousands)	2015		2014
Operating profit:
RV Segment	$	29,133	$	23,729
MH Segment	2,705		2,317
Total operating profit	$	31,838	$	26,046

Potential Future Changes to Reporting Segments

Over the past several years, largely due to the growth the Company has experienced in its RV Segment, the MH Segment is now a smaller part of the Company. MH Segment net sales were 7 percent of consolidated net sales for the first three months of 2015. In addition, the Company has recently increased its focus on the significant opportunities in the RV aftermarket, which is currently included in the RV Segment. While there were no changes to the Company's segment reporting through March 31, 2015, the Company will continue to evaluate the information provided to its Chief Operating Decision Maker (“CODM”), and assess the impact of any changes to its reporting structures that will reflect how its CODM will assess the performance of the Company's operating segments and make decisions about resource allocations which impact the operating segments the Company reports.