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