Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information

v2.4.0.6
Segment and Geographic Information
6 Months Ended
Sep. 30, 2012
Segment and Geographic Information  
Segment and Geographic Information

Note 9. 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, general and administrative functions are shared by the business groups and substantially all expenses are allocated to each business group based on the business group’s respective budgeted net sales. Substantially all research and development expenses are direct costs to the respective business group.

 

Tantalum

 

Tantalum operates in seven manufacturing sites in the United States, Mexico, China and Portugal. This business group produces tantalum and aluminum polymer capacitors and produces tantalum powder used in the production of tantalum 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. This business group produces ceramic capacitors. 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. Ceramic products are sold in all regions of the world.

 

Film and Electrolytic

 

Film and Electrolytic operates in fourteen manufacturing sites in Europe, Asia and North America. This business group produces film, paper, and electrolytic capacitors. Film and Electrolytic also operates a machinery division located in Italy that provides automation solutions for the manufacture, processing and assembly of metalized films, film/foil and electrolytic capacitors; and designs, assembles and installs automation solutions for the production of energy storage devices. In addition, this 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 six months ended September 30, 2012 and 2011 (amounts in thousands):

 

 

 

Quarters Ended September 30,

 

Six Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Net sales:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

109,308

 

$

112,290

 

$

218,507

 

$

234,733

 

Ceramic

 

53,116

 

56,112

 

104,661

 

115,491

 

Film and Electrolytic

 

53,567

 

97,112

 

116,455

 

205,146

 

 

 

$

215,991

 

$

265,514

 

$

439,623

 

$

555,370

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss) (1):

 

 

 

 

 

 

 

 

 

Tantalum

 

$

(579

)

$

10,601

 

$

1,904

 

$

28,013

 

Ceramic

 

6,882

 

10,553

 

13,479

 

21,409

 

Film and Electrolytic (2)

 

(20,323

)

3,759

 

(33,448

)

16,333

 

 

 

$

(14,020

)

$

24,913

 

$

(18,065

)

$

65,755

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization expenses:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

6,206

 

$

6,705

 

$

12,018

 

$

12,913

 

Ceramic

 

1,864

 

2,002

 

3,929

 

3,805

 

Film and Electrolytic

 

3,450

 

3,145

 

7,230

 

6,293

 

 

 

$

11,520

 

$

11,852

 

$

23,177

 

$

23,011

 

 

 

 

Quarters Ended September 30,

 

Six Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Sales by region:

 

 

 

 

 

 

 

 

 

North and South America (“Americas”)

 

$

62,243

 

$

81,663

 

$

122,728

 

$

154,422

 

Europe, Middle East, Africa (“EMEA”)

 

70,673

 

106,897

 

150,058

 

209,609

 

Asia and Pacific Rim (“APAC”)

 

83,075

 

76,954

 

166,837

 

191,339

 

 

 

$

215,991

 

$

265,514

 

$

439,623

 

$

555,370

 

 

 

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

 

 

 

Quarters Ended September 30,

 

Six Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Total restructuring:

 

 

 

 

 

 

 

 

 

Tantalum

 

$

1,987

 

$

864

 

$

2,031

 

$

899

 

Ceramic

 

1,081

 

49

 

1,179

 

88

 

Film and Electrolytic

 

5,454

 

692

 

6,576

 

1,643

 

 

 

$

8,522

 

$

1,605

 

$

9,786

 

$

2,630

 

 

(2)         Film and Electrolytic incurred the following operating expenses (benefits): Goodwill impairment of $1.1 million, Write down of long-lived assets of $4.2 million and a Settlement gain on benefit plan of $(1.7) million.

 

 

 

September 30, 2012

 

March 31, 2012

 

Total assets:

 

 

 

 

 

Tantalum

 

$

517,782

 

$

511,193

 

Ceramic

 

183,863

 

201,971

 

Film and Electrolytic

 

239,152

 

262,388

 

 

 

$

940,797

 

$

975,552