| Segment Information |
SEGMENT INFORMATION
The operating results of the Bristol Fab and Ram-Fab units have been classified as discontinued operations and are not included in the operating results presented below. See Note 12, Discontinued Operations, for further information regarding the closure and sale of the related divisions. The following table summarizes certain information regarding segments of the Company's continuing operations:
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Three Months Ended |
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Six Months Ended |
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Jul 4, 2015 |
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Jun 28, 2014 |
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Jul 4, 2015 |
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Jun 28, 2014 |
Net sales |
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Metals Segment |
$ |
33,943,000 |
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$ |
35,832,000 |
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$ |
69,404,000 |
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$ |
69,193,000 |
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Specialty Chemicals Segment |
16,220,000 |
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16,856,000 |
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32,408,000 |
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33,291,000 |
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$ |
50,163,000 |
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$ |
52,688,000 |
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$ |
101,812,000 |
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$ |
102,484,000 |
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Operating income |
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Metals Segment |
$ |
2,352,000 |
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$ |
4,118,000 |
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$ |
5,468,000 |
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$ |
7,159,000 |
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Specialty Chemicals Segment |
1,566,000 |
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1,715,000 |
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3,026,000 |
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3,357,000 |
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3,918,000 |
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5,833,000 |
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8,494,000 |
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10,516,000 |
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Unallocated expenses |
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Corporate |
1,246,000 |
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1,063,000 |
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2,269,000 |
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1,962,000 |
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Acquisition related costs |
5,000 |
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— |
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445,000 |
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(3,000 |
) |
Interest expense |
297,000 |
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262,000 |
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657,000 |
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528,000 |
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Change in fair value of interest rate swap |
(183,000 |
) |
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176,000 |
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(14,000 |
) |
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294,000 |
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Palmer earn-out adjustment |
— |
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(3,476,000 |
) |
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(2,483,000 |
) |
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(3,476,000 |
) |
Business interruption insurance proceeds |
(480,000 |
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— |
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(480,000 |
) |
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— |
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Other income |
(134,000 |
) |
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(7,000 |
) |
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(137,000 |
) |
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(7,000 |
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Income from continuing operations |
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before income taxes |
$ |
3,167,000 |
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$ |
7,815,000 |
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$ |
8,237,000 |
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$ |
11,218,000 |
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