Quarterly report pursuant to Section 13 or 15(d)

Industry Segments

v3.20.2
Industry Segments
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Industry Segments Industry Segments

The following table summarizes certain information regarding segments of the Company's operations:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands)
2020
 
2019
 
2020
 
2019
Net sales
 
 
 
 
 
 
 
Metals Segment
$
52,018

 
$
64,503

 
$
112,681

 
$
135,607

Specialty Chemicals Segment
14,118

 
14,275

 
28,152

 
27,975

 
$
66,136

 
$
78,778

 
$
140,833

 
$
163,582

Operating (loss) income
 
 
 
 
 
 
 
Metals Segment
$
(9,155
)
 
$
1,193

 
$
(8,221
)
 
$
2,675

Specialty Chemicals Segment
1,980

 
926

 
2,447

 
1,540

 
 
 
 
 
 
 
 
Unallocated corporate expenses
1,586

 
1,944

 
3,607

 
4,251

Acquisition related costs and other
6

 
20

 
135

 
348

Proxy contest costs
2,734

 
—

 
2,909

 
—

Earn-out adjustments
(827
)
 
(418
)
 
(823
)
 
(401
)
Operating (loss) income
(10,674
)
 
573

 
(11,602
)
 
17

Interest expense
532

 
1,010

 
1,251

 
2,034

Change in fair value of interest rate swap
(4
)
 
77

 
81

 
124

Other (income) expense, net
(2,129
)
 
(110
)
 
(1,303
)
 
(404
)
Loss before income taxes
$
(9,073
)
 
$
(404
)
 
$
(11,631
)
 
$
(1,737
)
 
 
 
 
 
 
 
 
 
As of
 
 
 
 
(in thousands)
June 30, 2020
 
December 31, 2019
 
 
 
 
Identifiable assets
 
 
 
 
 
 
 
Metals Segment
$
177,442

 
$
186,758

 
 
 
 
Specialty Chemicals Segment
27,039

 
25,428

 
 
 
 
Corporate
46,943

 
45,011

 
 
 
 
 
$
251,424

 
$
257,197