| Schedule of Segment Information |
The following table summarizes certain information regarding segments of the Company's operations:
|
|
|
|
|
|
|
|
|
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|
|
| (in thousands) |
2020 |
|
2019 |
|
|
| Net sales |
|
|
|
|
|
| Metals Segment |
$ |
204,459 |
|
|
$ |
251,078 |
|
|
|
| Specialty Chemicals Segment |
51,541 |
|
|
54,090 |
|
|
|
| |
$ |
256,000 |
|
|
$ |
305,168 |
|
|
|
| Operating (loss) income |
|
|
|
|
|
| Metals Segment |
$ |
(24,599) |
|
|
$ |
3,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Specialty Chemicals Segment |
4,033 |
|
|
2,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(20,566) |
|
|
6,503 |
|
|
|
|
|
|
|
|
|
| Unallocated corporate expenses |
7,917 |
|
|
8,357 |
|
|
|
| Acquisition related costs |
845 |
|
|
601 |
|
|
|
| Proxy contest costs |
3,105 |
|
|
— |
|
|
|
| Earn-out adjustments |
(1,195) |
|
|
(747) |
|
|
|
| Gain on lease modification |
(171) |
|
|
— |
|
|
|
| Operating loss |
(31,067) |
|
|
(1,708) |
|
|
|
| Interest expense |
2,110 |
|
|
3,818 |
|
|
|
| Change in fair value of interest rate swap |
51 |
|
|
141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other income, net |
(1,255) |
|
|
(1,904) |
|
|
|
| Loss before income taxes |
$ |
(31,973) |
|
|
$ |
(3,763) |
|
|
|
|
|
|
|
|
|
| Identifiable assets |
|
|
|
|
|
| Metals Segment |
$ |
141,799 |
|
|
$ |
186,758 |
|
|
|
| Specialty Chemicals Segment |
25,039 |
|
|
25,428 |
|
|
|
| Corporate |
40,146 |
|
|
45,011 |
|
|
|
|
|
|
|
|
|
| |
$ |
206,984 |
|
|
$ |
257,197 |
|
|
|
| Depreciation and amortization |
|
|
|
|
|
| Metals Segment |
$ |
8,883 |
|
|
$ |
9,439 |
|
|
|
| Specialty Chemicals Segment |
1,552 |
|
|
1,461 |
|
|
|
| Corporate |
165 |
|
|
164 |
|
|
|
| |
$ |
10,600 |
|
|
$ |
11,064 |
|
|
|
| Capital expenditures |
|
|
|
|
|
| Metals Segment |
$ |
1,761 |
|
|
$ |
2,812 |
|
|
|
| Specialty Chemicals Segment |
866 |
|
|
1,157 |
|
|
|
| Corporate |
1,121 |
|
|
568 |
|
|
|
| |
$ |
3,748 |
|
|
$ |
4,537 |
|
|
|
| Sales by product group |
|
|
|
|
|
| Specialty chemicals |
$ |
51,541 |
|
|
$ |
54,090 |
|
|
|
| Stainless steel pipe and tube |
154,974 |
|
|
167,907 |
|
|
|
| Heavy wall seamless carbon steel pipe and tube |
23,670 |
|
|
30,607 |
|
|
|
| Fiberglass and steel liquid storage tanks and separation equipment |
5,503 |
|
|
28,722 |
|
|
|
| Galvanized pipe and tube |
20,312 |
|
|
23,842 |
|
|
|
|
$ |
256,000 |
|
|
$ |
305,168 |
|
|
|
| Geographic sales |
|
|
|
|
|
| United States |
$ |
248,470 |
|
|
$ |
297,808 |
|
|
|
| Elsewhere |
7,530 |
|
|
7,360 |
|
|
|
| |
$ |
256,000 |
|
|
$ |
305,168 |
|
|
|
|