| Segment Information |
Segment Information
The following table summarizes certain information regarding segments of the Company's operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
Jun 30, 2018 |
|
Jun 30, 2017 |
|
Jun 30, 2018 |
|
Jun 30, 2017 |
Net sales |
|
|
|
|
|
|
|
Metals Segment |
$ |
56,374,479 |
|
|
$ |
39,088,322 |
|
|
$ |
101,866,726 |
|
|
$ |
68,798,282 |
|
Specialty Chemicals Segment |
15,519,284 |
|
|
12,422,723 |
|
|
28,507,639 |
|
|
24,916,342 |
|
|
$ |
71,893,763 |
|
|
$ |
51,511,045 |
|
|
$ |
130,374,365 |
|
|
$ |
93,714,624 |
|
Operating income |
|
|
|
|
|
|
|
Metals Segment |
$ |
9,090,516 |
|
|
$ |
2,359,054 |
|
|
$ |
15,107,047 |
|
|
$ |
3,923,568 |
|
Specialty Chemicals Segment |
1,106,672 |
|
|
1,137,911 |
|
|
1,970,161 |
|
|
2,645,371 |
|
|
|
|
|
|
|
|
|
Unallocated corporate expenses |
2,219,618 |
|
|
1,601,026 |
|
|
3,722,339 |
|
|
3,158,098 |
|
Acquisition related costs |
690,217 |
|
|
386,519 |
|
|
690,217 |
|
|
744,996 |
|
Operating income |
7,287,353 |
|
|
1,509,420 |
|
|
12,664,652 |
|
|
2,665,845 |
|
Interest expense |
403,852 |
|
|
341,005 |
|
|
717,835 |
|
|
521,320 |
|
Change in fair value of interest rate swaps |
(19,255 |
) |
|
16,927 |
|
|
(92,458 |
) |
|
(24,503 |
) |
Earn-out adjustment |
2,307,598 |
|
|
(3,391 |
) |
|
2,461,658 |
|
|
(3,391 |
) |
Other loss (income), net |
(59,112 |
) |
|
— |
|
|
29,185 |
|
|
— |
|
Income before income taxes |
$ |
4,654,270 |
|
|
$ |
1,154,879 |
|
|
$ |
9,548,432 |
|
|
$ |
2,172,419 |
|
|
|
|
|
|
|
|
|
|
As of |
|
|
|
Jun 30, 2018 |
|
Dec 31, 2017 |
|
|
|
|
Identifiable assets |
|
|
|
|
|
|
|
Metals Segment |
$ |
158,144,084 |
|
|
$ |
130,456,857 |
|
|
|
|
|
Specialty Chemicals Segment |
29,549,710 |
|
|
25,394,078 |
|
|
|
|
|
Corporate |
14,587,879 |
|
|
4,023,215 |
|
|
|
|
|
|
$ |
202,281,673 |
|
|
$ |
159,874,150 |
|
|
|
|
|
Goodwill |
|
|
|
|
|
|
|
Metals Segment |
$ |
4,648,795 |
|
|
$ |
4,648,795 |
|
|
|
|
|
Specialty Chemicals Segment |
1,354,730 |
|
|
1,354,730 |
|
|
|
|
|
|
$ |
6,003,525 |
|
|
$ |
6,003,525 |
|
|
|
|
|
|