v3.26.1
Business Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segment Information

Note 10 – BUSINESS SEGMENT INFORMATION

The Company operates in one business segment comprising the design, manufacture and sale of pumps and pump systems. The Company’s products are used in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire suppression, heating, ventilation and air conditioning (HVAC), military and other liquid-handling applications.

The pumps and pump systems are marketed in the United States and worldwide through a broad network of distributors, through manufacturers’ representatives (for sales to many original equipment manufacturers), through third-party distributor catalogs, and by direct sales. International sales are made primarily through foreign distributors and representatives.

The Company's chief operating decision maker ("CODM") is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating income and net income to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the allocation of capital between reinvestment in the business, the payment of dividends, paying down debt, and/or acquisitions. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The following table presents selected financial information with respect to the Company’s single operating segment:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net sales

$

186,065

 

 

$

179,045

 

 

$

362,658

 

 

$

342,994

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Cost of Material

 

88,096

 

 

 

87,169

 

 

 

170,032

 

 

 

164,597

 

Labor

 

22,502

 

 

 

20,906

 

 

 

44,877

 

 

 

42,049

 

Overhead

 

14,860

 

 

 

14,917

 

 

 

29,782

 

 

 

29,963

 

Selling

 

12,994

 

 

 

12,534

 

 

 

25,768

 

 

 

24,122

 

General and administrative

 

14,123

 

 

 

13,505

 

 

 

28,152

 

 

 

27,024

 

Amortization expense

 

3,080

 

 

 

3,102

 

 

 

6,159

 

 

 

6,202

 

Operating Income

 

30,410

 

 

 

26,912

 

 

 

57,888

 

 

 

49,037

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(4,659

)

 

 

(5,990

)

 

 

(9,626

)

 

 

(12,192

)

Other income (expense)

 

(367

)

 

 

(538

)

 

 

(626

)

 

 

(926

)

Income before income taxes

 

25,384

 

 

 

20,384

 

 

 

47,636

 

 

 

35,919

 

Provision from income taxes

 

5,952

 

 

 

4,587

 

 

 

10,364

 

 

 

7,994

 

Net income

$

19,432

 

 

$

15,797

 

 

$

37,272

 

 

$

27,925

 

 

The Company sells to approximately 140 countries around the world. The Company attributes revenues to individual countries based on the customer location to which finished products are shipped. The following tables disaggregate total net sales by geographic location:

 

 

 

Geographic Location

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

United States

 

$

140,353

 

 

$

136,104

 

 

$

274,684

 

 

$

257,542

 

Foreign countries

 

 

45,712

 

 

 

42,941

 

 

 

87,974

 

 

 

85,452

 

Total net sales

 

$

186,065

 

 

$

179,045

 

 

$

362,658

 

 

$

342,994