| Segment Information |
All values are for continuing operations only.
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in thousands) |
2015 |
|
2014 |
|
2013 |
Net sales |
|
|
|
|
|
Metals Segment |
$ |
114,908 |
|
|
$ |
134,304 |
|
|
$ |
140,233 |
|
Specialty Chemicals Segment |
60,552 |
|
|
65,201 |
|
|
56,518 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
|
$ |
196,751 |
|
Operating (loss) income |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
2,822 |
|
|
$ |
13,511 |
|
|
$ |
1,263 |
|
Goodwill impairment |
(17,158 |
) |
|
— |
|
|
— |
|
Business interruption proceeds |
1,246 |
|
|
— |
|
|
— |
|
Total Metals Segment |
(13,090 |
) |
|
13,511 |
|
|
1,263 |
|
Specialty Chemicals Segment |
5,665 |
|
|
6,130 |
|
|
5,743 |
|
|
(7,425 |
) |
|
19,641 |
|
|
7,006 |
|
Less unallocated corporate expenses |
5,227 |
|
|
3,300 |
|
|
3,243 |
|
Acquisition related costs |
500 |
|
|
302 |
|
|
264 |
|
Operating (loss) income |
(13,152 |
) |
|
16,039 |
|
|
3,499 |
|
Interest expense |
1,232 |
|
|
1,092 |
|
|
1,357 |
|
Change in fair value of interest rate swap |
42 |
|
|
426 |
|
|
(741 |
) |
Specialty and Palmer earn-out adjustments |
(4,897 |
) |
|
(3,476 |
) |
|
— |
|
Casualty insurance gain |
(923 |
) |
|
— |
|
|
— |
|
Gain on bargain purchase, net of taxes |
— |
|
|
— |
|
|
(1,077 |
) |
Other income, net |
(136 |
) |
|
(8 |
) |
|
(148 |
) |
(Loss) income before income taxes |
$ |
(8,470 |
) |
|
$ |
18,005 |
|
|
$ |
4,108 |
|
|
|
|
|
|
|
Identifiable assets |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
112,591 |
|
|
$ |
145,558 |
|
|
|
Specialty Chemicals Segment |
33,391 |
|
|
32,504 |
|
|
|
Corporate |
3,039 |
|
|
9,787 |
|
|
|
|
$ |
149,021 |
|
|
$ |
187,849 |
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
5,173 |
|
|
$ |
4,078 |
|
|
$ |
3,809 |
|
Specialty Chemicals Segment |
1,376 |
|
|
974 |
|
|
659 |
|
Corporate |
206 |
|
|
139 |
|
|
204 |
|
|
$ |
6,755 |
|
|
$ |
5,191 |
|
|
$ |
4,672 |
|
Capital expenditures |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
7,399 |
|
|
$ |
3,123 |
|
|
$ |
4,194 |
|
Specialty Chemicals Segment |
3,439 |
|
|
4,913 |
|
|
1,397 |
|
Corporate |
67 |
|
|
30 |
|
|
57 |
|
|
$ |
10,905 |
|
|
$ |
8,066 |
|
|
$ |
5,648 |
|
Sales by product group |
|
|
|
|
|
Specialty chemicals |
$ |
60,552 |
|
|
$ |
65,201 |
|
|
$ |
56,517 |
|
Stainless steel pipe |
77,850 |
|
|
101,035 |
|
|
106,874 |
|
Seamless carbon steel pipe and tube |
18,013 |
|
|
2,524 |
|
|
— |
|
Liquid storage tanks and separation equipment |
19,045 |
|
|
30,745 |
|
|
33,360 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
|
$ |
196,751 |
|
Geographic sales |
|
|
|
|
|
|
|
|
United States |
$ |
167,185 |
|
|
$ |
191,032 |
|
|
$ |
189,447 |
|
Elsewhere |
8,275 |
|
|
8,473 |
|
|
7,304 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
|
$ |
196,751 |
|
|