Segment Reporting

6 Months Ended

Jun. 30, 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 88 percent and 87 percent of consolidated net sales for the six month periods ended June 30, 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

• Aluminum windows and screens
• Chassis components

• Slide-out mechanisms and solutions
• Thermoformed bath, kitchen and other products
• Entry steps
• Manual, electric and hydraulic stabilizer and leveling systems

• 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 83 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 12 percent and 13 percent of consolidated net sales for the six month periods ended June 30, 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 certain of these products 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, executive succession 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.

     Effective with the second quarter of 2013, in connection with the management succession and relocation of the corporate office from New York to Indiana, corporate expenses, accretion related to contingent consideration and other non-segment items, which were previously reported on separate lines, have been included as part of segment operating profit. Corporate expenses are allocated between the segments based upon net sales. Accretion related to contingent consideration and other non-segment items are included in the segment to which they relate. The segment disclosures from prior years have been reclassified to conform to the current year presentation.

Information relating to segments follows for the (in thousands):

		Six Months Ended				Three Months Ended
		June 30,				June 30,
		2013		2012		2013		2012
Net sales:
RV Segment:
RV original equipment manufacturers:
Travel trailers and fifth-wheels	$	394,512	$	350,348	$	209,013	$	183,013
Motorhomes		21,275		15,502		11,025		8,930
RV aftermarket		12,881		9,359		7,152		5,369
Adjacent industries		48,401		38,777		25,876		21,119
Total RV Segment net sales		477,069		413,986		253,066		218,431
MH Segment:
Manufactured housing
original equipment manufacturers		40,370		40,490		22,591		21,778
Manufactured housing aftermarket		7,239		7,188		3,587		3,576
Adjacent industries		15,100		12,902		7,948		7,229
Total MH Segment net sales		62,709		60,580		34,126		32,583
Total net sales	$	539,778	$	474,566	$	287,192	$	251,014
Operating profit:
RV Segment	$	34,864	$	29,349	$	22,600	$	14,819
MH Segment		6,308		6,992		3,841		4,149
Total segment operating profit		41,172		36,341		26,441		18,968
Executive succession		(1,876	)	-		(733	)	-
Total operating profit	$	39,296	$	36,341	$	25,708	$	18,968