| Schedule of Segment Information |
The following table summarizes certain information regarding segments of the Company's operations:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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| (in thousands) |
2022 |
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2021 |
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2022 |
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2021 |
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| Net sales |
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| Tubular Products |
$ |
72,839 |
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$ |
70,127 |
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$ |
248,517 |
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$ |
193,438 |
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| Specialty Chemicals |
27,328 |
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16,055 |
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84,070 |
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45,609 |
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$ |
100,167 |
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$ |
86,182 |
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$ |
332,587 |
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$ |
239,047 |
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| Operating income |
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| Tubular Products |
$ |
4,509 |
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$ |
11,711 |
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$ |
31,935 |
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$ |
21,793 |
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| Specialty Chemicals |
1,097 |
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1,356 |
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6,111 |
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1,999 |
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| Corporate |
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| Unallocated corporate expenses |
3,890 |
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2,009 |
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10,241 |
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5,138 |
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| Acquisition costs and other |
149 |
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201 |
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837 |
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201 |
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| Proxy contest costs and recoveries |
— |
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— |
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— |
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168 |
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| Earn-out adjustments |
— |
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160 |
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(7) |
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1,430 |
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| Total Corporate |
4,039 |
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2,370 |
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11,071 |
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6,937 |
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| Operating income |
1,567 |
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10,697 |
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26,975 |
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16,855 |
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| Interest expense |
827 |
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329 |
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1,637 |
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1,068 |
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| Loss on extinguishment of debt |
— |
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— |
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— |
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223 |
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| Change in fair value of interest rate swap |
— |
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— |
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— |
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(2) |
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| Other, net |
(118) |
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(10) |
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(176) |
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152 |
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| Income before income taxes |
$ |
858 |
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$ |
10,378 |
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$ |
25,514 |
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$ |
15,414 |
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As of |
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| (in thousands) |
September 30, 2022 |
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December 31, 2021 |
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| Identifiable assets |
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| Tubular Products |
$ |
190,646 |
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$ |
160,625 |
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| Specialty Chemicals |
$ |
77,391 |
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72,908 |
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| Corporate |
$ |
31,405 |
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32,469 |
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$ |
299,442 |
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$ |
266,002 |
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