| Segment Information |
SEGMENT INFORMATION
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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Jun 30, 2016 |
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Jul 4, 2015 |
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Jun 30, 2016 |
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Jul 4, 2015 |
Net sales |
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Metals Segment |
$ |
22,079,000 |
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$ |
33,943,000 |
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$ |
46,041,000 |
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$ |
69,404,000 |
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Specialty Chemicals Segment |
12,828,000 |
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16,220,000 |
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25,178,000 |
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32,408,000 |
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$ |
34,907,000 |
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$ |
50,163,000 |
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$ |
71,219,000 |
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$ |
101,812,000 |
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Operating (loss) income |
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Metals Segment |
$ |
(1,649,000 |
) |
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$ |
2,832,000 |
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$ |
(2,421,000 |
) |
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$ |
5,948,000 |
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Specialty Chemicals Segment |
1,322,000 |
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1,566,000 |
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2,532,000 |
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3,026,000 |
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(327,000 |
) |
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4,398,000 |
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111,000 |
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8,974,000 |
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Less unallocated corporate expenses |
1,330,000 |
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1,222,000 |
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2,622,000 |
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2,228,000 |
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Acquisition related costs |
75,000 |
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5,000 |
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75,000 |
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445,000 |
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Operating (loss) income |
(1,732,000 |
) |
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3,171,000 |
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(2,586,000 |
) |
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6,301,000 |
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Interest expense |
268,000 |
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321,000 |
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549,000 |
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698,000 |
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Change in fair value of interest rate swap |
98,000 |
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(183,000 |
) |
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392,000 |
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(14,000 |
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Palmer earn-out adjustment |
— |
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— |
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— |
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(2,483,000 |
) |
Other income |
— |
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(134,000 |
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— |
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(137,000 |
) |
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(Loss) income from operations before income taxes |
$ |
(2,098,000 |
) |
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$ |
3,167,000 |
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$ |
(3,527,000 |
) |
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$ |
8,237,000 |
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As of |
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Jun 30, 2016 |
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Dec 31, 2015 |
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Identifiable assets |
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Metals Segment |
$ |
108,457,000 |
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$ |
112,748,000 |
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Specialty Chemicals Segment |
32,300,000 |
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33,391,000 |
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Corporate |
6,757,000 |
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2,904,000 |
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$ |
147,514,000 |
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$ |
149,043,000 |
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