Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

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Segment Reporting
 3 Months Ended
Mar. 31, 2012
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. France operated as a subsidiary of the Company until its dissolution in November 2011, at which time it became a liaison office. Additionally, costs associated with the Company's representative office in China and liaison office in India are included as part of the U.S. operating segment, as are sales into these regions. 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 March 31, 2012

                 

Sales to unaffiliated customers

    $ 35,620       $ 5,952       $ 7,421       $ 6,281       $ —        $ 55,274   

Intercompany sales

      9,075         —           23         374         (9,472 )      —     

Operating income

      11,781         706         1,545         1,134         98        15,264   

Depreciation

      1,325         27         82         218         —          1,652   

Capital expenditures

      1,593         11         17         165         —          1,786   

Three Months

                 

Ended April 2, 2011

                 

Sales to unaffiliated customers

    $ 30,467       $ 6,023       $ 7,188       $ 7,025       $ —        $ 50,703   

Intercompany sales

      9,489         —           52         376         (9,917 )      —     

Operating income

      9,976         941         1,740         1,206         48        13,911   

Depreciation

      1,292         25         99         241         —          1,657   

Capital expenditures

      896         122         45         48         —          1,111   

Sales to unaffiliated customers represent sales from each of the individual subsidiaries. For information on sales to geographic locations, see the Comparison of the Three Month Periods Ended March 31, 2012, and April 2, 2011, 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.