| Schedule of Segment Information |
The following table summarizes certain information regarding segments of the Company's operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
2021 |
|
2020 |
|
|
| Net sales |
|
|
|
|
|
| Metals Segment |
$ |
267,238 |
|
|
$ |
204,459 |
|
|
|
| Specialty Chemicals Segment |
67,477 |
|
|
51,541 |
|
|
|
| |
$ |
334,715 |
|
|
$ |
256,000 |
|
|
|
| Operating income (loss) |
|
|
|
|
|
| Metals Segment |
$ |
33,561 |
|
|
$ |
(24,599) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Specialty Chemicals Segment |
3,656 |
|
|
4,033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
37,217 |
|
|
(20,566) |
|
|
|
|
|
|
|
|
|
| Unallocated corporate expenses |
6,828 |
|
|
7,917 |
|
|
|
| Acquisition costs and other |
1,001 |
|
|
845 |
|
|
|
| Proxy contest costs and recoveries |
168 |
|
|
3,105 |
|
|
|
| Earn-out adjustments |
1,872 |
|
|
(1,195) |
|
|
|
| Gain on lease modification |
— |
|
|
(171) |
|
|
|
| Operating income (loss) |
27,348 |
|
|
(31,067) |
|
|
|
| Interest expense |
1,486 |
|
|
2,110 |
|
|
|
| Change in fair value of interest rate swap |
(2) |
|
|
51 |
|
|
|
| Loss on extinguishment of debt |
223 |
|
|
— |
|
|
|
| Other income, net |
143 |
|
|
(1,255) |
|
|
|
| Income (loss) before income taxes |
$ |
25,498 |
|
|
$ |
(31,973) |
|
|
|
|
|
|
|
|
|
| Identifiable assets |
|
|
|
|
|
| Metals Segment |
$ |
160,625 |
|
|
$ |
141,799 |
|
|
|
| Specialty Chemicals Segment |
72,908 |
|
|
25,039 |
|
|
|
| Corporate |
32,469 |
|
|
40,146 |
|
|
|
|
|
|
|
|
|
| |
$ |
266,002 |
|
|
$ |
206,984 |
|
|
|
| Depreciation and amortization |
|
|
|
|
|
| Metals Segment |
$ |
8,206 |
|
|
$ |
8,883 |
|
|
|
| Specialty Chemicals Segment |
2,005 |
|
|
1,552 |
|
|
|
| Corporate |
130 |
|
|
165 |
|
|
|
| |
$ |
10,341 |
|
|
$ |
10,600 |
|
|
|
| Capital expenditures |
|
|
|
|
|
| Metals Segment |
$ |
1,011 |
|
|
$ |
1,761 |
|
|
|
| Specialty Chemicals Segment |
486 |
|
|
866 |
|
|
|
| Corporate |
— |
|
|
1,121 |
|
|
|
| |
$ |
1,497 |
|
|
$ |
3,748 |
|
|
|
| Sales by product group |
|
|
|
|
|
| Fiberglass and steel liquid storage tanks and separation equipment |
$ |
1,343 |
|
|
$ |
5,503 |
|
|
|
| Heavy wall seamless carbon steel pipe and tube |
40,539 |
|
|
23,670 |
|
|
|
| Stainless steel pipe and tube |
186,651 |
|
|
154,974 |
|
|
|
| Galvanized pipe and tube |
38,705 |
|
|
20,312 |
|
|
|
| Specialty chemicals |
67,477 |
|
|
51,541 |
|
|
|
|
$ |
334,715 |
|
|
$ |
256,000 |
|
|
|
| Geographic sales |
|
|
|
|
|
| United States |
$ |
325,335 |
|
|
$ |
248,470 |
|
|
|
| Elsewhere |
9,380 |
|
|
7,530 |
|
|
|
| |
$ |
334,715 |
|
|
$ |
256,000 |
|
|
|
|