Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information

v2.4.0.6
Segment and Geographic Information
9 Months Ended
Dec. 31, 2011
Segment and Geographic Information  
Segment and Geographic Information

Note 7. Segment and Geographic Information

 

The Company is organized into three business groups: Tantalum, the Ceramic Business Group (“Ceramic”), and Film and Electrolytic. Each business group is responsible for the operations of certain manufacturing sites as well as all related research and development efforts. The sales and marketing functions are shared by the business groups and are allocated to each business group based on the business group’s respective budgeted net sales. In addition, all corporate costs are allocated to the business groups based on the business group’s respective budgeted net sales.

 

Tantalum

 

Tantalum operates in five manufacturing sites in the United States, Mexico, China and Portugal. This business group produces tantalum and aluminum polymer capacitors. Tantalum shares with Ceramic the Company’s product innovation center in the United States.  Tantalum products are sold in all regions of the world.

 

Ceramic

 

Ceramic operates in two manufacturing sites in Mexico and a manufacturing site in China. The business group shares with Tantalum the Company’s product innovation center in the United States. In addition, Ceramic maintains a design and manufacturing plant for electrical transformers, inductors, chokes, coils and filters in the United States. This business group produces ceramic capacitors. Ceramic products are sold in all regions of the world.

 

Film and Electrolytic

 

Film and Electrolytic operates in sixteen manufacturing sites in Europe, Asia and North America. This business group produces film, paper, and electrolytic capacitors as well as machinery. In addition, the business group has a product innovation center in Sweden. Film and Electrolytic products are sold in all regions of the world.

 

The following table reflects each business group’s net sales, operating income (loss), depreciation and amortization expenses and sales by region for the quarters and nine months ended December 31, 2011 and 2010 (amounts in thousands):

 

 

 

Quarters Ended December 31,

 

Nine Months Ended December 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

Net sales:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

92,091

 

$

125,325

 

$

326,824

 

$

362,766

 

Ceramic

 

47,510

 

50,060

 

163,001

 

161,114

 

Film and Electrolytic

 

79,194

 

89,269

 

284,340

 

233,156

 

 

 

$

218,795

 

$

264,654

 

$

774,165

 

$

757,036

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)(1):

 

 

 

 

 

 

 

 

 

Tantalum (2)

 

$

(14,501

)

$

23,894

 

$

13,515

 

$

68,866

 

Ceramic

 

9,340

 

8,246

 

30,752

 

32,600

 

Film and Electrolytic

 

(12,801

)

4,851

 

3,526

 

2,022

 

 

 

$

(17,962

)

$

36,991

 

$

47,793

 

$

103,488

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization expenses:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

5,351

 

$

7,442

 

$

18,264

 

$

24,548

 

Ceramic

 

1,586

 

2,043

 

5,391

 

6,657

 

Film and Electrolytic

 

3,436

 

3,176

 

9,729

 

10,098

 

 

 

$

10,373

 

$

12,661

 

$

33,384

 

$

41,303

 

 

 

 

 

 

 

 

 

 

 

Sales by region:

 

 

 

 

 

 

 

 

 

North and South America (Americas)

 

$

64,256

 

$

70,245

 

$

218,678

 

$

197,946

 

Europe, Middle East, Africa (EMEA)

 

84,676

 

101,303

 

294,285

 

273,326

 

Asia and Pacific Rim (APAC)

 

69,863

 

93,106

 

261,202

 

285,764

 

 

 

$

218,795

 

$

264,654

 

$

774,165

 

$

757,036

 

 

(1)   Restructuring charges included in Operating income (loss) are as follows (amounts in thousands):

 

 

 

Quarters Ended December 31,

 

Nine Months Ended December 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

Total restructuring:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

6

 

$

(22

)

$

905

 

$

757

 

Ceramic

 

1

 

89

 

89

 

276

 

Film and Electrolytic

 

10,741

 

1,035

 

12,384

 

4,164

 

 

 

$

10,748

 

$

1,102

 

$

13,378

 

$

5,197

 

 

(2)   Write down of long lived assets of $15.8 million is included within Operating income (loss) for the three and nine months ended December 31, 2011.

 

The following table reflects each business group’s total assets as of December 31, 2011 and March 31, 2011 (amounts in thousands):

 

 

 

December 31, 2011

 

March 31, 2011

 

Total assets:

 

 

 

 

 

Tantalum

 

$

384,873

 

$

435,311

 

Ceramic

 

174,745

 

179,639

 

Film and Electrolytic

 

242,061

 

269,359

 

 

 

$

801,679

 

$

884,309