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Segment Information (Notes)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Information

The Company operates in two reportable segments. The businesses have been determined to be separate reportable segments because of differences in their financial characteristics and the methods they employ to deliver product to customers. The operating segments are reviewed by the Company’s chief operating decision maker responsible for reviewing operating performance and allocating resources. The Lawson segment primarily relies on its large network of sales representatives to visit the customer at the customers' work location and provide VMI service and produce sales orders for product that is then shipped to the customer. The Bolt Supply segment primarily sells product to customers through its branch locations. Bolt Supply had 14 branches in operation at the end of the second quarter 2019.

Financial information for the Company's reportable segments follows:

	(Dollars in thousands)
	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Revenue
Lawson product revenue	$	74,866			$	70,632			$	147,905			$	137,569
Lawson service revenue	10,101				9,985				19,529				19,474
Total Lawson revenue	84,967				80,617				167,434				157,043
Bolt Supply	11,130				9,765				20,006				17,798
Consolidated total	$	96,097			$	90,382			$	187,440			$	174,841
Gross profit
Lawson product gross profit	$	41,130			$	38,707			$	81,734			$	75,549
Lawson service gross profit	5,627				6,590				10,642				12,670
Total Lawson gross profit	46,757				45,297				92,376				88,219
Bolt Supply	4,286				3,834				7,590				7,130
Consolidated total	$	51,043			$	49,131			$	99,966			$	95,349
Operating income
Lawson	$	654			$	4,794			$	6,113			$	6,284
Bolt Supply	969				760				1,054				1,107
Consolidated total	1,623				5,554				7,167				7,391
Interest expense	(146		)		(264		)		(343		)		(504		)
Other income (expense), net	339				(777		)		811				(490		)
Income before income taxes	$	1,816			$	4,513			$	7,635			$	6,397

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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