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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
NET SALES:        
Related parties $ 296,271 $ 290,283 $ 576,844 $ 570,660
Other customers 92,531 36,471 177,744 74,948
Total net sales 388,802 326,754 754,588 645,608
Cost of goods sold 366,342 321,172 715,277 643,078
Gross profit 22,460 5,582 39,311 2,530
Selling, general and administrative expenses 9,352 9,945 20,054 19,570
Other operating expense - net 180 578 1,153 1,459
Operating income (loss) 12,928 (4,941) 18,104 (18,499)
Interest expense (5,461) (5,497) (11,032) (10,990)
Interest income 283 171 513 285
Net gain (loss) on forward and derivative contracts 2,957 353 (13,180) 706
Other (expense) - net (1,876) (299) (1,492) (305)
Income (loss) before income taxes and equity in earnings of joint ventures 8,831 (10,213) (7,087) (28,803)
Income tax (expense) benefit (1,452) 319 (1,144) 2,389
Income (loss) before equity in earnings of joint ventures 7,379 (9,894) (8,231) (26,414)
Equity in (loss) earnings of joint ventures (248) 379 223 736
Net income (loss) 7,131 (9,515) (8,008) (25,678)
Net income (loss) allocated to common stockholders $ 6,563 $ (9,515) $ (8,008) $ (25,678)
INCOME (LOSS) PER COMMON SHARE:        
Basic (in USD per share) $ 0.08 $ (0.11) $ (0.09) $ (0.29)
Diluted (in USD per share) $ 0.07 $ (0.11) $ (0.09) $ (0.29)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic (shares) 87,272 87,060 87,263 87,050
Diluted (shares) 88,057 87,060 87,263 87,050