Quarterly report pursuant to Section 13 or 15(d)

Industry Segments

v3.20.2
Industry Segments
 9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
(in thousands) 2020 2019 2020 2019
Net sales
Metals Segment $ 47,079  $ 60,121  $ 159,761  $ 195,728 
Specialty Chemicals Segment 12,187  13,519  40,338  41,494 
$ 59,266  $ 73,640  $ 200,099  $ 237,222 
Operating (loss) income
Metals Segment $ (11,563) $ 450  $ (19,784) $ 3,125 
Specialty Chemicals Segment 1,061  846  3,508  2,387 
Unallocated corporate expenses 1,526  2,369  5,132  6,622 
Acquisition related costs and other 656  90  803  438 
Proxy contest costs
 207  —  3,105  — 
Earn-out adjustments
 (146) (1,242) (969) (1,643)
Gain on lease modification (171) —  (171) — 
Operating (loss) income (12,574) 79  (24,176) 95 
Interest expense 452  944  1,703  2,977 
Change in fair value of interest rate swap (16) 21  65  145 
Other (income) expense, net 59  180  (1,244) (224)
Loss before income taxes $ (13,069) $ (1,066) $ (24,700) $ (2,803)
As of
(in thousands) September 30, 2020 December 31, 2019
Identifiable assets
Metals Segment $ 157,974  $ 186,758 
Specialty Chemicals Segment 25,004  25,428 
Corporate 41,737  45,011 
$ 224,715  $ 257,197