Segment Reporting

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment Reporting

2. 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 89 percent and 87 percent of consolidated net sales for the three month periods ended March 31, 2013 and 2012, respectively, manufactures a variety of products used primarily in the production of RVs, including:

• Steel chassis for towable RVs

• Axles and suspension solutions for towable RVs

• Slide-out mechanisms and solutions

• Thermoformed bath, kitchen and other products

• Entry steps

• Manual, electric and hydraulic stabilizer and leveling systems

• Aluminum windows and screens

• Chassis components

• Furniture and mattresses

• Entry, baggage, patio and ramp doors

• Awnings

• Other accessories

The Company also supplies certain of these products to the RV aftermarket. In addition, the Company manufactures components for truck caps, buses, and trailers used to haul boats, livestock, equipment and other cargo. Approximately 84 percent of the Company's RV Segment net sales for the last twelve months were components to manufacturers of travel trailer and fifth-wheel RVs.

The MH Segment, which accounted for 11 percent and 13 percent of consolidated net sales for the three month periods ended March 31, 2013 and 2012, respectively, manufactures a variety of products used in the production of manufactured homes, and to a lesser extent, modular housing and mobile office units, including:

• Vinyl and aluminum windows and screens

• Thermoformed bath and kitchen products

• Steel and fiberglass entry doors

• Aluminum and vinyl patio doors

• Steel chassis

• Steel chassis parts

• Axles

The Company also supplies windows, doors and thermoformed bath products as replacement parts to the manufactured housing aftermarket. 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, defined as income or loss before interest, corporate expenses, executive succession, accretion, other non-segment items 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 Notes to Consolidated Financial Statements of the Company's December 31, 2012 Annual Report on Form 10-K.

Information relating to segments follows for the three months ended March 31, (in thousands):

		2013			2012
Net sales:
RV Segment:
RV original equipment manufacturers:
Travel trailers and fifth-wheels	$	186,416		$	168,079
Motorhomes		9,466			5,952
RV aftermarket		5,729			3,990
Adjacent industries		22,392			17,534
Total RV Segment net sales	$	224,003		$	195,555
MH Segment:
Manufactured housing
original equipment manufacturers	$	17,779		$	18,712
Manufactured housing aftermarket		4,054			4,269
Adjacent industries		6,750			5,016
Total MH Segment net sales	$	28,583		$	27,997
Total net sales	$	252,586		$	223,552
Operating profit:
RV Segment	$	14,535		$	16,781
MH Segment		2,726			3,131
Total segment operating profit		17,261			19,912
Corporate		(2,288	)		(2,308	)
Executive succession		(1,143	)		-
Accretion related to contingent consideration		(392	)		(481	)
Other non-segment items		150			250
Total operating profit	$	13,588		$	17,373