| 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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Nine Months Ended |
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Sep 30, 2018 |
|
Sep 30, 2017 |
|
Sep 30, 2018 |
|
Sep 30, 2017 |
Net sales |
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Metals Segment |
$ |
61,024,373 |
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$ |
43,022,833 |
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|
$ |
162,891,099 |
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|
$ |
111,821,115 |
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Specialty Chemicals Segment |
16,768,505 |
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|
11,573,091 |
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|
45,276,144 |
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|
36,489,433 |
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$ |
77,792,878 |
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$ |
54,595,924 |
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$ |
208,167,243 |
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$ |
148,310,548 |
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Operating income (loss) |
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Metals Segment |
$ |
7,984,117 |
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$ |
(1,263,900 |
) |
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$ |
23,091,164 |
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$ |
2,659,666 |
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Specialty Chemicals Segment |
1,354,617 |
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1,150,661 |
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3,324,778 |
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3,796,032 |
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Unallocated corporate expenses |
1,894,775 |
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|
1,554,364 |
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5,617,113 |
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4,712,461 |
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Acquisition related costs |
180,671 |
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|
37,402 |
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|
870,888 |
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|
782,397 |
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Earn-out adjustments |
(269,083 |
) |
|
62,804 |
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|
2,192,574 |
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|
145,200 |
|
Operating income (loss) |
7,532,371 |
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|
(1,767,809 |
) |
|
17,735,367 |
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|
815,640 |
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Interest expense |
585,888 |
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|
279,598 |
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|
1,303,724 |
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|
715,131 |
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Change in fair value of interest rate swaps |
(7,490 |
) |
|
(8,497 |
) |
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(99,948 |
) |
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(33,000 |
) |
Other loss (income), net |
493,413 |
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|
(316,158 |
) |
|
522,598 |
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|
(316,158 |
) |
Income before income taxes |
$ |
6,460,560 |
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$ |
(1,722,752 |
) |
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$ |
16,008,993 |
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$ |
449,667 |
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As of |
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Sep 30, 2018 |
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Dec 31, 2017 |
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Identifiable assets |
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Metals Segment |
$ |
199,390,326 |
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$ |
130,456,857 |
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Specialty Chemicals Segment |
31,109,653 |
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25,394,078 |
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Corporate |
9,863,158 |
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|
4,023,215 |
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$ |
240,363,137 |
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$ |
159,874,150 |
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Goodwill |
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Metals Segment |
$ |
8,194,262 |
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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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$ |
9,548,992 |
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$ |
6,003,525 |
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