| Schedule of segment information |
The following table summarizes certain information regarding segments of the Company's operations:
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Three Months Ended |
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Nine Months Ended |
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Sep 30, 2017 |
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Sep 30, 2016 |
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Sep 30, 2017 |
|
Sep 30, 2016 |
Net sales |
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Metals Segment |
$ |
43,022,833 |
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$ |
22,290,752 |
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$ |
111,821,115 |
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$ |
68,331,389 |
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Specialty Chemicals Segment |
11,573,091 |
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|
12,006,479 |
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36,489,433 |
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|
37,184,522 |
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$ |
54,595,924 |
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$ |
34,297,231 |
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$ |
148,310,548 |
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$ |
105,515,911 |
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Operating (loss) income |
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Metals Segment |
$ |
(1,323,801 |
) |
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$ |
(1,013,669 |
) |
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$ |
2,479,963 |
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$ |
(3,434,725 |
) |
Gain (loss) on sale-leaseback |
59,901 |
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(2,226,037 |
) |
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179,703 |
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(2,226,037 |
) |
Total Metals segment |
(1,263,900 |
) |
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(3,239,706 |
) |
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2,659,666 |
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(5,660,762 |
) |
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Specialty Chemicals Segment |
1,126,994 |
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1,417,116 |
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3,725,030 |
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3,949,453 |
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Gain (loss) on sale-leaseback |
23,667 |
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(229,309 |
) |
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71,002 |
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(229,309 |
) |
Total Specialty Chemicals segment |
1,150,661 |
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1,187,807 |
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3,796,032 |
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3,720,144 |
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Unallocated straight line lease cost |
101,633 |
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— |
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304,898 |
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— |
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Unallocated corporate expenses |
1,452,731 |
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1,713,684 |
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4,407,563 |
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4,335,756 |
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Acquisition related costs |
37,402 |
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|
1,034 |
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782,397 |
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|
76,091 |
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Operating (loss) income |
(1,705,005 |
) |
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(3,766,617 |
) |
|
960,840 |
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(6,352,465 |
) |
Interest expense |
279,598 |
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|
272,987 |
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|
715,131 |
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|
822,426 |
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Change in fair value of interest rate swaps |
(8,497 |
) |
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(115,328 |
) |
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(33,000 |
) |
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276,512 |
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Earn-out adjustment |
62,804 |
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— |
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|
145,200 |
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— |
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Other income, net |
(316,158 |
) |
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— |
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(316,158 |
) |
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— |
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(Loss) income from continuing operations |
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before income taxes |
$ |
(1,722,752 |
) |
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$ |
(3,924,276 |
) |
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$ |
449,667 |
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$ |
(7,451,403 |
) |
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As of |
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Sep 30, 2017 |
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Dec 31, 2016 |
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Identifiable assets |
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Metals Segment |
$ |
130,500,181 |
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$ |
109,689,477 |
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Specialty Chemicals Segment |
25,957,147 |
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22,907,672 |
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Corporate |
5,976,337 |
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6,040,914 |
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$ |
162,433,665 |
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$ |
138,638,063 |
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Goodwill |
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Metals Segment |
$ |
4,648,795 |
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$ |
— |
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Specialty Chemicals Segment |
1,354,730 |
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1,354,730 |
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$ |
6,003,525 |
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$ |
1,354,730 |
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