Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

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Segment Reporting
 9 Months Ended
Oct. 01, 2011
Segment Reporting [Abstract]  
Segment Reporting
11. SEGMENT REPORTING

The individual subsidiaries comprising the Company operate predominantly in a single industry as manufacturers and distributors of hydraulic components. The Company is multinational with operations in the United States, and subsidiaries in the United Kingdom, Germany, Korea, and France. Amounts for France, due to their immateriality, are included with the U.S. In computing operating profit for the foreign subsidiaries, no allocations of general corporate expenses have been made. Management bases its financial decisions by the geographical location of its operations.

Identifiable assets of the foreign subsidiaries are those assets related to the operation of those companies. United States assets consist of all other operating assets of the Company.

 

Segment information is as follows:

 

     United
States		      Korea      Germany      United
Kingdom		      Elimination     Consolidated  

Three Months Ended October 1, 2011

                 

Sales to unaffiliated customers

    $ 34,897       $ 5,081       $ 7,824       $ 5,239       $ —        $ 53,041   

Intercompany sales

      8,763         —           60         405         (9,228 )      —     

Operating income

      12,119         575         2,028         892         (115 )      15,499   

Depreciation

      1,294         28         85         235         —          1,642   

Capital expenditures

      4,121         89         7         68         —          4,285   

Three Months Ended October 2, 2010

                 

Sales to unaffiliated customers

    $ 23,668       $ 3,315       $ 5,402       $ 5,688       $ —        $ 38,073   

Intercompany sales

      6,873         —           37         311         (7,221 )      —     

Operating income

      5,636         378         1,061         1,028         79        8,182   

Depreciation

      1,243         21         107         242         —          1,613   

Capital expenditures

      631         28         15         62         —          736   

Nine Months Ended October 1, 2011

                 

Sales to unaffiliated customers

    $ 100,515       $ 16,778       $ 22,320       $ 18,901       $ —        $ 158,514   

Intercompany sales

      26,722         —           176         1,188         (28,086 )      —     

Operating income

      33,481         2,175         5,690         3,379         72        44,797   

Depreciation

      3,879         83         272         721         —          4,955   

Capital expenditures

      6,631         234         57         173         —          7,095   

Nine Months Ended October 2, 2010

                 

Sales to unaffiliated customers

    $ 67,896       $ 12,151       $ 14,770       $ 14,106       $ —        $ 108,923   

Intercompany sales

      18,755         —           118         936         (19,809 )      —     

Operating income

      15,511         1,655         3,088         2,122         (92 )      22,284   

Depreciation

      3,891         66         320         727         —          5,004   

Capital expenditures

      1,712         141         20         187         —          2,060   

Sales to unaffiliated customers represent sales from each of the individual subsidiaries. For information on sales to geographic locations, see the Comparison of the Nine Month Periods Ended October 1, 2011, and October 2, 2010, in Management's Discussion and Analysis of Financial Condition and Results of Operations. Operating income is total sales and other operating income less operating expenses. Segment operating income does not include interest income/expense, foreign currency transaction gain/loss, and net miscellaneous income/expense.