Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]    
Net sales $ 334,715,000 $ 256,000,000
Cost of sales 273,949,000 233,348,000
Gross profit 60,766,000 22,652,000
Selling, general and administrative expense 30,144,000 28,718,000
Acquisition costs and other 1,001,000 845,000
Proxy contest costs and recoveries 168,000 3,105,000
Earn-out adjustments 1,872,000 (1,195,000)
Asset impairment 233,000 6,214,000
Goodwill impairment 0 16,203,000
Gain on lease modification 0 (171,000)
Operating income (loss) 27,348,000 (31,067,000)
Other (income) and expense    
Interest expense 1,486,000 2,110,000
Loss on extinguishment of debt 223,000 0
Change in fair value of interest rate swap (2,000) 51,000
Other, net 143,000 (1,255,000)
Income (loss) before income taxes 25,498,000 (31,973,000)
Income tax provision (benefit) 5,253,000 (4,706,000)
Net income (loss) $ 20,245,000 $ (27,267,000)
Net income (loss) per common share:    
Basic (in dollars per share) $ 2.17 $ (2.98)
Diluted (in dollars per share) $ 2.14 $ (2.98)
Weighted average number of common shares outstanding:    
Basic (in shares) 9,340 9,140
Diluted (in shares) 9,456 9,140