| Segment Information |
Segment Information
The following table summarizes certain information regarding segments of the Company's operations:
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Mar 31, 2019 |
|
Mar 31, 2018 |
Net sales |
|
|
|
Metals Segment |
$ |
71,103,079 |
|
|
$ |
45,492,247 |
|
Specialty Chemicals Segment |
13,700,753 |
|
|
12,988,355 |
|
|
$ |
84,803,832 |
|
|
$ |
58,480,602 |
|
Operating income (loss) |
|
|
|
Metals Segment |
$ |
1,436,642 |
|
|
$ |
6,016,531 |
|
Specialty Chemicals Segment |
614,214 |
|
|
863,489 |
|
|
|
|
|
Unallocated corporate expenses |
2,308,423 |
|
|
1,502,721 |
|
Acquisition related costs |
281,854 |
|
|
— |
|
Earn-out adjustments |
16,523 |
|
|
154,060 |
|
Operating (loss) income |
(555,944 |
) |
|
5,223,239 |
|
Interest expense |
1,023,941 |
|
|
313,984 |
|
Change in fair value of interest rate swaps |
47,561 |
|
|
(73,204 |
) |
Other (income) loss, net |
(294,667 |
) |
|
88,296 |
|
(Loss) income before income taxes |
$ |
(1,332,779 |
) |
|
$ |
4,894,163 |
|
|
|
|
|
|
As of |
|
Mar 31, 2019 |
|
Dec 31, 2018 |
Identifiable assets |
|
|
|
Metals Segment |
$ |
216,759,542 |
|
|
$ |
192,195,733 |
|
Specialty Chemicals Segment |
27,801,913 |
|
|
28,174,675 |
|
Corporate (1)
|
43,035,888 |
|
|
8,028,438 |
|
|
$ |
287,597,343 |
|
|
$ |
228,398,846 |
|
Goodwill |
|
|
|
Metals Segment |
$ |
15,488,796 |
|
|
$ |
8,445,262 |
|
Specialty Chemicals Segment |
1,354,730 |
|
|
1,354,730 |
|
|
$ |
16,843,526 |
|
|
$ |
9,799,992 |
|
(1) As of March 31, 2019, this amount included $36,759,065 in right-of-use assets that were recorded with the adoption of ASC 842 ("Leases"). Refer to Note 12 for additional information.
|