Business Segments

12 Months Ended

Dec. 31, 2011

Business Segments [Abstract]

Business Segments

L.BUSINESS SEGMENTS:

The Company operates in three business segments. The Company identifies its segments based on the Company's organization structure, which is primarily by principal products. The principal product groups are Housewares/Small Appliances, Defense Products, and Absorbent Products. Sales for all three segments are primarily to customers in North America.

The Housewares/Small Appliance segment designs, markets, and distributes housewares and small appliances. These products are sold primarily in the United States and Canada directly to retail outlets and also through independent distributors. As more fully described in Note J, the Company primarily sources its Housewares/Small Appliance products from non-affiliated suppliers located in the Orient. Sales are seasonal, with the normal peak sales period occurring in the fourth quarter of the year prior to the holiday season.

The Defense Segment was started in 2001 with the acquisition of AMTEC Corporation, which manufactures precision mechanical and electromechanical assemblies for the U.S. government and prime contractors. During 2005, and again during 2010, AMTEC Corporation was one of two prime contractors selected by the Army to supply all requirements for the 40mm family of practice and tactical ammunition cartridges for a period of five years. AMTEC's manufacturing plant is located in Janesville, Wisconsin. During 2003, this segment was expanded with the acquisition of Spectra Technologies, LLC of East Camden, Arkansas. This facility performs Load, Assemble, and Pack (LAP) operations on ordnance-related products for the U.S. government and prime contractors. During 2006, the segment was expanded with the acquisition of certain assets of Amron, LLC of Antigo, Wisconsin, which primarily manufactures cartridge cases used in medium caliber (20-40mm) ammunition. In 2011 the segment was further augmented with the purchase of certain assets of ALS Technologies, Inc. of Bull Shoals, Arkansas, which manufactures less than lethal ammunitions.

The Absorbent Products segment was started in 2001 with the acquisition of certain assets from RMED International, Inc, forming Presto Absorbent Products, Inc. This company manufactured diapers. During 2003, this segment was expanded with the purchase of the assets of NCN Hygienic Products, Inc., a Marietta, Georgia manufacturer of adult incontinence products and training pads for dogs. Starting in 2004, the company began making adult incontinence products at the Company's facilities in Eau Claire, Wisconsin. The segment's products are sold to distributors and other absorbent product manufacturers. In 2007, the Company completed the closure of the Georgia facility and consolidated its absorbent products manufacturing in the Eau Claire, Wisconsin facility. It no longer manufactures dog pads.

In the following summary, operating profit represents earnings before other income, principally interest income, and income taxes. The Company's segments operate discretely from each other with no shared manufacturing facilities. Costs associated with corporate activities (such as cash and marketable securities management) and the assets associated with such activities are included within the Housewares/Small Appliance segment for all periods presented.

	(in thousands)
	Housewares / Small Appliances		Defense Products		Absorbent Products		Total
Year ended December 31, 2011
External net sales	$	130,852	$	202,372	$	97,797	$	431,021
Gross profit		27,016		62,006		4,737		93,759
Operating profit		16,716		55,049		2,219		73,984
Total assets		238,534		109,137		63,970		411,641
Depreciation and amortization		993		3,469		4,575		9,037
Capital expenditures		3,249		1,558		10,196		15,003
Year ended December 31, 2010
External net sales	$	157,474	$	240,762	$	80,764	$	479,000
Gross profit		37,032		68,071		8,471		113,574
Operating profit		27,558		61,443		8,081		97,082
Total assets		256,945		106,487		51,701		415,133
Depreciation and amortization		926		3,650		4,061		8,637
Capital expenditures		1,117		3,473		13,382		17,972
Year ended December 31, 2009
External net sales	$	150,016	$	253,789	$	74,663	$	478,468
Gross profit		40,336		61,866		7,890		110,092
Operating profit		30,290		54,823		6,234		91,347
Total assets		260,854		107,907		33,644		402,405
Depreciation and amortization		925		3,570		4,243		8,738
Capital expenditures		1,240		1,275		822		3,337