| Segment Information |
All values are for continuing operations only.
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in thousands) |
2016 |
|
2015 |
|
2014 |
Net sales |
|
|
|
|
|
Metals Segment |
$ |
90,215 |
|
|
$ |
114,908 |
|
|
$ |
134,304 |
|
Specialty Chemicals Segment |
48,351 |
|
|
60,552 |
|
|
65,201 |
|
|
$ |
138,566 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
Operating (loss) income |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
(4,821 |
) |
|
$ |
2,822 |
|
|
$ |
13,511 |
|
Goodwill impairment |
— |
|
|
(17,158 |
) |
|
— |
|
Business interruption proceeds |
— |
|
|
1,246 |
|
|
— |
|
Loss on sale-leaseback |
(2,166 |
) |
|
— |
|
|
— |
|
Total Metals Segment |
(6,987 |
) |
|
(13,090 |
) |
|
13,511 |
|
Specialty Chemicals Segment |
4,888 |
|
|
5,665 |
|
|
6,130 |
|
Loss on sale-leaseback |
(206 |
) |
|
— |
|
|
— |
|
Total Specialty Chemicals Segment |
4,682 |
|
|
5,665 |
|
|
6,130 |
|
Unallocated straight line lease cost |
(102 |
) |
|
— |
|
|
— |
|
|
(2,407 |
) |
|
(7,425 |
) |
|
19,641 |
|
Less unallocated corporate expenses |
5,733 |
|
|
5,106 |
|
|
3,241 |
|
Acquisition related costs |
106 |
|
|
500 |
|
|
302 |
|
Operating (loss) income |
(8,246 |
) |
|
(13,031 |
) |
|
16,098 |
|
Interest expense |
933 |
|
|
1,353 |
|
|
1,151 |
|
Change in fair value of interest rate swap |
13 |
|
|
42 |
|
|
426 |
|
Specialty and Palmer earn-out adjustments |
— |
|
|
(4,897 |
) |
|
(3,476 |
) |
Casualty insurance gain |
— |
|
|
(923 |
) |
|
— |
|
Other income, net |
— |
|
|
(136 |
) |
|
(8 |
) |
(Loss) income before income taxes |
$ |
(9,192 |
) |
|
$ |
(8,470 |
) |
|
$ |
18,005 |
|
|
|
|
|
|
|
Identifiable assets |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
109,689 |
|
|
$ |
112,749 |
|
|
|
Specialty Chemicals Segment |
22,908 |
|
|
33,391 |
|
|
|
Corporate |
6,041 |
|
|
2,903 |
|
|
|
|
$ |
138,638 |
|
|
$ |
149,043 |
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
5,133 |
|
|
$ |
5,173 |
|
|
$ |
4,078 |
|
Specialty Chemicals Segment |
1,449 |
|
|
1,376 |
|
|
974 |
|
Corporate |
113 |
|
|
85 |
|
|
80 |
|
|
$ |
6,695 |
|
|
$ |
6,634 |
|
|
$ |
5,132 |
|
Capital expenditures |
|
|
|
|
|
|
|
|
Metals Segment |
$ |
2,201 |
|
|
$ |
7,399 |
|
|
$ |
3,123 |
|
Specialty Chemicals Segment |
476 |
|
|
3,439 |
|
|
4,913 |
|
Corporate |
367 |
|
|
67 |
|
|
30 |
|
|
$ |
3,044 |
|
|
$ |
10,905 |
|
|
$ |
8,066 |
|
Sales by product group |
|
|
|
|
|
Specialty chemicals |
$ |
48,351 |
|
|
$ |
60,552 |
|
|
$ |
65,201 |
|
Stainless steel pipe |
56,066 |
|
|
77,850 |
|
|
101,035 |
|
Seamless carbon steel pipe and tube |
14,913 |
|
|
18,013 |
|
|
2,524 |
|
Liquid storage tanks and separation equipment |
19,236 |
|
|
19,045 |
|
|
30,745 |
|
|
$ |
138,566 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
Geographic sales |
|
|
|
|
|
|
|
|
United States |
$ |
132,313 |
|
|
$ |
167,185 |
|
|
$ |
191,032 |
|
Elsewhere |
6,253 |
|
|
8,275 |
|
|
8,473 |
|
|
$ |
138,566 |
|
|
$ |
175,460 |
|
|
$ |
199,505 |
|
|