Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.8.0.1
SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION

The following table summarizes certain information regarding segments of the Company's operations:
 
Three Months Ended
 
Nine Months Ended
 
Sep 30, 2017
 
Sep 30, 2016
 
Sep 30, 2017
 
Sep 30, 2016
Net sales
 
 
 
 
 
 
 
Metals Segment
$
43,022,833

 
$
22,290,752

 
$
111,821,115

 
$
68,331,389

Specialty Chemicals Segment
11,573,091

 
12,006,479

 
36,489,433

 
37,184,522

 
$
54,595,924

 
$
34,297,231

 
$
148,310,548

 
$
105,515,911

Operating (loss) income
 
 
 
 
 
 
 
Metals Segment
$
(1,323,801
)
 
$
(1,013,669
)
 
$
2,479,963

 
$
(3,434,725
)
Gain (loss) on sale-leaseback
59,901

 
(2,226,037
)
 
179,703

 
(2,226,037
)
Total Metals segment
(1,263,900
)
 
(3,239,706
)
 
2,659,666

 
(5,660,762
)
 
 
 
 
 
 
 
 
Specialty Chemicals Segment
1,126,994

 
1,417,116

 
3,725,030

 
3,949,453

Gain (loss) on sale-leaseback
23,667

 
(229,309
)
 
71,002

 
(229,309
)
Total Specialty Chemicals segment
1,150,661

 
1,187,807

 
3,796,032

 
3,720,144

 
 
 
 
 
 
 
 
Unallocated straight line lease cost
101,633

 

 
304,898

 

Unallocated corporate expenses
1,452,731

 
1,713,684

 
4,407,563

 
4,335,756

Acquisition related costs
37,402

 
1,034

 
782,397

 
76,091

Operating (loss) income
(1,705,005
)
 
(3,766,617
)
 
960,840

 
(6,352,465
)
Interest expense
279,598

 
272,987

 
715,131

 
822,426

Change in fair value of interest rate swaps
(8,497
)
 
(115,328
)
 
(33,000
)
 
276,512

Earn-out adjustment
62,804

 

 
145,200

 

Other income, net
(316,158
)
 

 
(316,158
)
 

(Loss) income from continuing operations
 
 
 
 
 
 
 
before income taxes
$
(1,722,752
)
 
$
(3,924,276
)
 
$
449,667

 
$
(7,451,403
)
 
 
 
 
 
 
 
 
 
As of
 
 
 
Sep 30, 2017
 
Dec 31, 2016
 
 
 
 
Identifiable assets
 
 
 
 
 
 
 
Metals Segment
$
130,500,181

 
$
109,689,477

 
 
 
 
Specialty Chemicals Segment
25,957,147

 
22,907,672

 
 
 
 
Corporate
5,976,337

 
6,040,914

 
 
 
 
 
$
162,433,665

 
$
138,638,063

 
 
 
 
Goodwill
 
 
 
 
 
 
 
Metals Segment
$
4,648,795

 
$

 
 
 
 
Specialty Chemicals Segment
1,354,730

 
1,354,730

 
 
 
 
 
$
6,003,525

 
$
1,354,730