| Segment Information |
All values are for continuing operations only.
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2017 |
|
2016 |
|
2015 |
Net sales |
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|
Metals Segment |
$ |
152,957,195 |
|
|
$ |
90,214,537 |
|
|
$ |
114,908,258 |
|
Specialty Chemicals Segment |
48,190,487 |
|
|
48,351,245 |
|
|
60,552,180 |
|
|
$ |
201,147,682 |
|
|
$ |
138,565,782 |
|
|
$ |
175,460,438 |
|
Operating income (loss) |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
5,424,624 |
|
|
$ |
(4,820,374 |
) |
|
$ |
2,821,879 |
|
Goodwill impairment |
— |
|
|
— |
|
|
(17,158,249 |
) |
Business interruption proceeds |
— |
|
|
— |
|
|
1,246,024 |
|
Gain (loss) on sale-leaseback |
239,604 |
|
|
(2,166,136 |
) |
|
— |
|
Total Metals Segment |
5,664,228 |
|
|
(6,986,510 |
) |
|
(13,090,346 |
) |
Specialty Chemicals Segment |
4,295,576 |
|
|
4,887,143 |
|
|
5,664,843 |
|
Gain (loss) on sale-leaseback |
94,669 |
|
|
(205,642 |
) |
|
— |
|
Total Specialty Chemicals Segment |
4,390,245 |
|
|
4,681,501 |
|
|
5,664,843 |
|
|
10,054,473 |
|
|
(2,305,009 |
) |
|
(7,425,503 |
) |
Unallocated straight line lease cost |
397,071 |
|
|
101,633 |
|
|
— |
|
Unallocated corporate expenses |
6,116,768 |
|
|
5,733,529 |
|
|
5,105,935 |
|
Acquisition related costs |
794,983 |
|
|
106,227 |
|
|
499,761 |
|
Operating income (loss) |
2,745,651 |
|
|
(8,246,398 |
) |
|
(13,031,199 |
) |
Interest expense |
985,366 |
|
|
932,572 |
|
|
1,352,806 |
|
Change in fair value of interest rate swap |
(96,696 |
) |
|
12,997 |
|
|
41,580 |
|
Earn-out adjustments |
688,523 |
|
|
— |
|
|
(4,897,448 |
) |
Casualty insurance gain |
— |
|
|
— |
|
|
(923,470 |
) |
Other income, net |
(310,043 |
) |
|
— |
|
|
(134,389 |
) |
Income (loss) before income taxes |
$ |
1,478,501 |
|
|
$ |
(9,191,967 |
) |
|
$ |
(8,470,278 |
) |
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Identifiable assets |
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|
Metals Segment |
$ |
130,456,857 |
|
|
$ |
109,689,477 |
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|
|
Specialty Chemicals Segment |
25,394,078 |
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|
22,907,672 |
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|
|
Corporate |
4,023,215 |
|
|
6,040,914 |
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|
|
|
$ |
159,874,150 |
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|
$ |
138,638,063 |
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Depreciation and amortization |
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|
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Metals Segment |
$ |
6,280,681 |
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|
$ |
5,132,506 |
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|
$ |
5,172,251 |
|
Specialty Chemicals Segment |
1,302,579 |
|
|
1,449,437 |
|
|
1,376,167 |
|
Corporate |
154,552 |
|
|
113,047 |
|
|
85,973 |
|
|
$ |
7,737,812 |
|
|
$ |
6,694,990 |
|
|
$ |
6,634,391 |
|
Capital expenditures |
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|
|
|
|
|
|
|
Metals Segment |
$ |
3,405,552 |
|
|
$ |
2,198,535 |
|
|
$ |
7,398,517 |
|
Specialty Chemicals Segment |
1,649,967 |
|
|
475,703 |
|
|
3,439,260 |
|
Corporate |
223,089 |
|
|
370,173 |
|
|
67,453 |
|
|
$ |
5,278,608 |
|
|
$ |
3,044,411 |
|
|
$ |
10,905,230 |
|
Sales by product group |
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|
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|
Specialty chemicals |
$ |
48,190,487 |
|
|
$ |
48,351,245 |
|
|
$ |
60,552,180 |
|
Stainless steel pipe |
100,523,823 |
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|
56,065,642 |
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|
77,849,443 |
|
Seamless carbon steel pipe and tube |
25,103,641 |
|
|
14,913,133 |
|
|
18,013,326 |
|
Liquid storage tanks and separation equipment |
27,599,731 |
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|
19,235,762 |
|
|
19,045,489 |
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|
$ |
201,417,682 |
|
|
$ |
138,565,782 |
|
|
$ |
175,460,438 |
|
Geographic sales |
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United States |
$ |
196,172,279 |
|
|
$ |
132,313,157 |
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|
$ |
167,185,319 |
|
Elsewhere |
4,975,403 |
|
|
6,252,625 |
|
|
8,275,119 |
|
|
$ |
201,147,682 |
|
|
$ |
138,565,782 |
|
|
$ |
175,460,438 |
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|