| Schedule of Segment Information |
All values are for continuing operations only.
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
2019 |
|
2018 |
|
2017 |
Net sales |
|
|
|
|
|
Metals Segment |
$ |
251,078 |
|
|
$ |
222,242 |
|
|
$ |
152,957 |
|
Specialty Chemicals Segment |
54,090 |
|
|
58,599 |
|
|
48,191 |
|
|
$ |
305,168 |
|
|
$ |
280,841 |
|
|
$ |
201,148 |
|
Operating (loss) income |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
3,692 |
|
|
$ |
27,544 |
|
|
$ |
5,424 |
|
Gain on sale-leaseback |
— |
|
|
240 |
|
|
240 |
|
Total Metals Segment |
3,692 |
|
|
27,784 |
|
|
5,664 |
|
Specialty Chemicals Segment |
2,811 |
|
|
3,879 |
|
|
4,295 |
|
Gain on sale-leaseback |
— |
|
|
95 |
|
|
95 |
|
Total Specialty Chemicals Segment |
2,811 |
|
|
3,974 |
|
|
4,390 |
|
|
6,503 |
|
|
31,758 |
|
|
10,054 |
|
|
|
|
|
|
|
Unallocated corporate expenses |
8,357 |
|
|
7,878 |
|
|
6,513 |
|
Earn-out adjustments |
(747 |
) |
|
1,431 |
|
|
689 |
|
Acquisition related costs |
601 |
|
|
1,212 |
|
|
795 |
|
Operating (loss) income |
(1,708 |
) |
|
21,237 |
|
|
2,057 |
|
Interest expense |
3,818 |
|
|
2,211 |
|
|
985 |
|
Change in fair value of interest rate swap |
141 |
|
|
(20 |
) |
|
(96 |
) |
Other income, net |
(1,904 |
) |
|
2,573 |
|
|
(310 |
) |
(Loss) income before income taxes |
$ |
(3,763 |
) |
|
$ |
16,473 |
|
|
$ |
1,478 |
|
|
|
|
|
|
|
Identifiable assets |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
186,758 |
|
|
$ |
192,196 |
|
|
|
Specialty Chemicals Segment |
25,428 |
|
|
28,175 |
|
|
|
Corporate |
45,011 |
|
|
8,028 |
|
|
|
|
$ |
257,197 |
|
|
$ |
228,399 |
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
9,439 |
|
|
$ |
7,198 |
|
|
$ |
6,281 |
|
Specialty Chemicals Segment |
1,461 |
|
|
1,428 |
|
|
1,302 |
|
Corporate |
164 |
|
|
149 |
|
|
155 |
|
|
$ |
11,064 |
|
|
$ |
8,775 |
|
|
$ |
7,738 |
|
Capital expenditures |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
2,812 |
|
|
$ |
5,969 |
|
|
$ |
3,406 |
|
Specialty Chemicals Segment |
1,157 |
|
|
1,298 |
|
|
1,650 |
|
Corporate |
568 |
|
|
88 |
|
|
223 |
|
|
$ |
4,537 |
|
|
$ |
7,355 |
|
|
$ |
5,279 |
|
Sales by product group |
|
|
|
|
|
Specialty chemicals |
$ |
54,090 |
|
|
$ |
58,599 |
|
|
$ |
48,191 |
|
Stainless steel pipe and tube |
167,907 |
|
|
146,237 |
|
|
100,254 |
|
Heavy wall seamless carbon steel pipe and tube |
30,607 |
|
|
32,474 |
|
|
25,103 |
|
Fiberglass and steel liquid storage tanks and separation equipment |
28,722 |
|
|
31,654 |
|
|
27,600 |
|
Galvanized pipe and tube |
23,842 |
|
|
11,877 |
|
|
— |
|
|
$ |
305,168 |
|
|
$ |
280,841 |
|
|
$ |
201,148 |
|
Geographic sales |
|
|
|
|
|
|
|
|
United States |
$ |
297,808 |
|
|
$ |
273,244 |
|
|
$ |
196,172 |
|
Elsewhere |
7,360 |
|
|
7,597 |
|
|
4,976 |
|
|
$ |
305,168 |
|
|
$ |
280,841 |
|
|
$ |
201,148 |
|
|