| Schedule of Segment Information |
All values are for continuing operations only.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
2017 |
|
2016 |
Net sales |
|
|
|
|
|
Metals Segment |
$ |
222,242,145 |
|
|
$ |
152,957,195 |
|
|
$ |
90,214,537 |
|
Specialty Chemicals Segment |
58,599,274 |
|
|
48,190,487 |
|
|
48,351,245 |
|
|
$ |
280,841,419 |
|
|
$ |
201,147,682 |
|
|
$ |
138,565,782 |
|
Operating income (loss) |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
27,543,907 |
|
|
$ |
5,424,624 |
|
|
$ |
(4,820,374 |
) |
Gain (loss) on sale-leaseback |
239,604 |
|
|
239,604 |
|
|
(2,166,136 |
) |
Total Metals Segment |
27,783,511 |
|
|
5,664,228 |
|
|
(6,986,510 |
) |
Specialty Chemicals Segment |
3,879,405 |
|
|
4,295,576 |
|
|
4,887,143 |
|
Gain (loss) on sale-leaseback |
94,669 |
|
|
94,669 |
|
|
(205,642 |
) |
Total Specialty Chemicals Segment |
3,974,074 |
|
|
4,390,245 |
|
|
4,681,501 |
|
|
31,757,585 |
|
|
10,054,473 |
|
|
(2,305,009 |
) |
|
|
|
|
|
|
Unallocated corporate expenses |
7,877,847 |
|
|
6,513,839 |
|
|
5,835,162 |
|
Earn-out adjustments |
1,430,682 |
|
|
688,523 |
|
|
— |
|
Acquisition related costs |
1,211,797 |
|
|
794,983 |
|
|
106,227 |
|
Operating income (loss) |
21,237,259 |
|
|
2,057,128 |
|
|
(8,246,398 |
) |
Interest expense |
2,210,506 |
|
|
985,366 |
|
|
932,572 |
|
Change in fair value of interest rate swap |
(19,484 |
) |
|
(96,696 |
) |
|
12,997 |
|
Other income, net |
2,572,598 |
|
|
(310,043 |
) |
|
— |
|
Income (loss) before income taxes |
$ |
16,473,639 |
|
|
$ |
1,478,501 |
|
|
$ |
(9,191,967 |
) |
|
|
|
|
|
|
Identifiable assets |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
192,195,733 |
|
|
$ |
130,456,857 |
|
|
|
Specialty Chemicals Segment |
28,174,675 |
|
|
25,394,078 |
|
|
|
Corporate |
8,028,438 |
|
|
4,023,215 |
|
|
|
|
$ |
228,398,846 |
|
|
$ |
159,874,150 |
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
7,197,814 |
|
|
$ |
6,280,681 |
|
|
$ |
5,132,506 |
|
Specialty Chemicals Segment |
1,427,629 |
|
|
1,302,579 |
|
|
1,449,437 |
|
Corporate |
149,734 |
|
|
154,552 |
|
|
113,047 |
|
|
$ |
8,775,177 |
|
|
$ |
7,737,812 |
|
|
$ |
6,694,990 |
|
Capital expenditures |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
5,969,216 |
|
|
$ |
3,405,552 |
|
|
$ |
2,198,535 |
|
Specialty Chemicals Segment |
1,297,762 |
|
|
1,649,967 |
|
|
475,703 |
|
Corporate |
87,759 |
|
|
223,089 |
|
|
370,173 |
|
|
$ |
7,354,737 |
|
|
$ |
5,278,608 |
|
|
$ |
3,044,411 |
|
Sales by product group |
|
|
|
|
|
Specialty chemicals |
$ |
58,599,274 |
|
|
$ |
48,190,487 |
|
|
$ |
48,351,245 |
|
Stainless steel pipe |
146,237,630 |
|
|
100,253,823 |
|
|
56,065,642 |
|
Seamless carbon steel pipe and tube |
32,473,950 |
|
|
25,103,641 |
|
|
14,913,133 |
|
Liquid storage tanks and separation equipment |
31,653,832 |
|
|
27,599,731 |
|
|
19,235,762 |
|
Galvanized pipe and tube |
11,876,733 |
|
|
— |
|
|
— |
|
|
$ |
280,841,419 |
|
|
$ |
201,147,682 |
|
|
$ |
138,565,782 |
|
Geographic sales |
|
|
|
|
|
|
|
|
United States |
$ |
273,244,175 |
|
|
$ |
196,172,279 |
|
|
$ |
132,313,157 |
|
Elsewhere |
7,597,244 |
|
|
4,975,403 |
|
|
6,252,625 |
|
|
$ |
280,841,419 |
|
|
$ |
201,147,682 |
|
|
$ |
138,565,782 |
|
|