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v3.20.2

Segments (Table) | 9 Months Ended
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Sep. 30, 2020
Segments |
Schedule of assets and profit/loss of the segments | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended | ​
​ | September 30, | ​ | September 30, | ​ | September 30, | ​ | September 30, | ​
​ | ​ | 2020 | ​ | ​ | 2019 | ​ | ​ | 2020 | ​ | ​ | 2019 | ​
Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 76,903 | ​ | $ | 75,632 | ​ | $ | 169,853 | ​ | $ | 213,693 | ​
Work Truck Solutions | ​ | 56,858 | ​ | ​ | 66,237 | ​ | ​ | 152,141 | ​ | ​ | 197,719 | ​
​ | $ | 133,761 | ​ | $ | 141,869 | ​ | $ | 321,994 | ​ | $ | 411,412 | ​
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 20,155 | ​ | $ | 18,673 | ​ | $ | 38,527 | ​ | $ | 59,423 | ​
Work Truck Solutions | ​ | 2,917 | ​ | ​ | 6,393 | ​ | ​ | 3,162 | ​ | ​ | 18,772 | ​
​ | $ | 23,072 | ​ | $ | 25,066 | ​ | $ | 41,689 | ​ | $ | 78,195 | ​
Depreciation and amortization expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 2,683 | ​ | $ | 2,524 | ​ | $ | 7,994 | ​ | $ | 7,579 | ​
Work Truck Solutions | ​ | 2,224 | ​ | ​ | 2,204 | ​ | ​ | 6,710 | ​ | ​ | 6,756 | ​
​ | $ | 4,907 | ​ | $ | 4,728 | ​ | $ | 14,704 | ​ | $ | 14,335 | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 396,793 | ​ | $ | 406,746 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Solutions | ​ | 214,471 | ​ | ​ | 360,163 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | $ | 611,264 | ​ | $ | 766,909 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital Expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 4,850 | ​ | $ | 1,955 | ​ | $ | 9,105 | ​ | $ | 6,209 | ​
Work Truck Solutions | ​ | 375 | ​ | ​ | 404 | ​ | ​ | 1,110 | ​ | ​ | 1,478 | ​
​ | $ | 5,225 | ​ | $ | 2,359 | ​ | $ | 10,215 | ​ | $ | 7,687 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of Reconciliation of Operating Profit (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 20,155 | ​ | $ | 18,673 | ​ | $ | 38,527 | ​ | $ | 59,423
Work Truck Solutions | ​ | 2,917 | ​ | ​ | 6,393 | ​ | ​ | 3,162 | ​ | ​ | 18,772
Total Adjusted EBITDA | $ | 23,072 | ​ | $ | 25,066 | ​ | $ | 41,689 | ​ | $ | 78,195
Less items to reconcile Adjusted EBITDA to Income (Loss) before taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense - net | ​ | 5,007 | ​ | ​ | 4,271 | ​ | ​ | 15,709 | ​ | ​ | 12,610
Depreciation expense | ​ | 2,170 | ​ | ​ | 1,991 | ​ | ​ | 6,490 | ​ | ​ | 6,118
Amortization | ​ | 2,737 | ​ | ​ | 2,737 | ​ | ​ | 8,214 | ​ | ​ | 8,217
Purchase accounting (1) | ​ | - | ​ | ​ | - | ​ | ​ | (2,017) | ​ | ​ | (217)
Stock based compensation | ​ | 199 | ​ | ​ | 525 | ​ | ​ | 2,768 | ​ | ​ | 3,061
Impairment charges | ​ | - | ​ | ​ | - | ​ | ​ | 127,872 | ​ | ​ | -
Debt modification expense | ​ | 237 | ​ | ​ | - | ​ | ​ | 3,429 | ​ | ​ | -
COVID-19 (2) | ​ | 157 | ​ | ​ | - | ​ | ​ | 1,322 | ​ | ​ | -
Other charges (3) | ​ | 101 | ​ | ​ | - | ​ | ​ | 101 | ​ | ​ | (149)
Income (loss) before taxes | $ | 12,464 | ​ | $ | 15,542 | ​ | $ | (122,199) | ​ | $ | 48,555
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | Reflects $2,000 reversal of earn-out compensation acquired in conjunction with the acquisition of Dejana in the periods presented. Reflects $17 and $217 reversal of earn-out compensation in conjunction with the acquisition of Henderson in the nine months ended September 30, 2020 and 2019, respectively.
| (2) | Reflects incremental costs incurred related to the COVID-19 pandemic for the periods presented.
| (3) | Reflects unrelated legal and consulting fees for the periods presented.

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