| 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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Nine Months Ended |
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Sep 30, 2016 |
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Oct 3, 2015 |
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Sep 30, 2016 |
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Oct 3, 2015 |
Net sales |
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Metals Segment |
$ |
22,291,000 |
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$ |
23,084,000 |
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$ |
68,331,000 |
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$ |
92,488,000 |
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Specialty Chemicals Segment |
12,006,000 |
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14,999,000 |
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37,185,000 |
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47,407,000 |
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$ |
34,297,000 |
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$ |
38,083,000 |
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$ |
105,516,000 |
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$ |
139,895,000 |
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Operating (loss) income |
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Metals Segment |
$ |
(3,240,000 |
) |
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$ |
(548,000 |
) |
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$ |
(5,661,000 |
) |
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$ |
5,400,000 |
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Specialty Chemicals Segment |
1,188,000 |
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1,598,000 |
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3,720,000 |
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4,624,000 |
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(2,052,000 |
) |
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1,050,000 |
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(1,941,000 |
) |
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10,024,000 |
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Less unallocated corporate expenses |
1,713,000 |
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1,157,000 |
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4,335,000 |
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3,385,000 |
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Acquisition related costs |
1,000 |
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9,000 |
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76,000 |
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454,000 |
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Operating (loss) income |
(3,766,000 |
) |
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(116,000 |
) |
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(6,352,000 |
) |
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6,185,000 |
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Interest expense |
273,000 |
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342,000 |
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822,000 |
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1,040,000 |
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Change in fair value of interest rate swap |
(115,000 |
) |
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247,000 |
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277,000 |
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233,000 |
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Specialty and Palmer earn-out adjustments |
— |
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(2,414,000 |
) |
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— |
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(4,897,000 |
) |
Other income |
— |
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— |
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— |
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(137,000 |
) |
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(Loss) income from operations before income taxes |
$ |
(3,924,000 |
) |
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$ |
1,709,000 |
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$ |
(7,451,000 |
) |
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$ |
9,946,000 |
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As of |
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Sep 30, 2016 |
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Dec 31, 2015 |
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Identifiable assets |
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Metals Segment |
$ |
98,873,000 |
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$ |
112,749,000 |
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Specialty Chemicals Segment |
24,352,000 |
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33,391,000 |
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Corporate |
3,353,000 |
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2,903,000 |
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$ |
126,578,000 |
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$ |
149,043,000 |
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