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Note 20 - Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
20
.
QUARTERLY DATA (UNAUDITED):
 
Summarized quarterly financial data for the years ended
December
 
31,
2016
and
2015
is as follows (in thousands, except per share amounts).
 
 
 
 
First Quarter
 
 
Second Quarter
 
 
Third Quarter
 
 
Fourth Quarter
 
 
Total
 
For the year ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales:
                                        
Water Transmission
   $
29,358
    $
39,775
    $
41,075
    $
39,179
    $
149,387
 
Tubular Products
    
4,570
     
2,286
     
13
     
-
     
6,869
 
Total
   $
33,928
    $
42,061
    $
41,088
    $
39,179
    $
156,256
 
                                         
Gross profit (loss):
                                        
Water Transmission
   $
(5,750
 )   $
(1,272
 )   $
2,939
    $
3,767
    $
(317
 )
Tubular Products
    
313
     
(890
 )    
(816
 )    
(1,516
 )    
(2,908
 )
Total
   $
(5,437
 )   $
(2,162
 )   $
2,123
    $
2,251
    $
(3,225
 )
                                         
Operating income (loss):
                                        
Water Transmission (1)
   $
(7,256
 )   $
(2,648
 )   $
1,363
    $
9,590
    $
1,049
 
Tubular Products
    
104
     
(1,002
 )    
(802
 )    
(1,636
 )    
(3,336
 )
Corporate
    
(2,884
 )    
(2,603
 )    
(2,624
 )    
(3,135
 )    
(11,246
 )
Total
   $
(10,036
 )   $
(6,253
 )   $
(2,063
 )   $
4,819
    $
(13,533
 )
                                         
Net income (loss)
   $
(9,583
 )   $
(6,242
 )   $
727
    $
5,834
    $
(9,263
 )
                                         
Net earnings (loss) per share:
                                        
Basic
   $
(1.00
 )   $
(0.65
 )   $
0.08
    $
0.61
    $
(0.97
 )
Diluted
   $
(1.00
 )   $
(0.65
 )   $
0.08
    $
0.60
    $
(0.97
 )
 
(1)
Operating income for Water Transmission for the
fourth
quarter of
2016
includes the gain on sale of facility of
$7.9
million.
 
 
 
 
 
First Quarter
 
 
Second Quarter
 
 
Third Quarter
 
 
Fourth Quarter
 
 
Total
 
For the year ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales:
                                        
Water Transmission
   $
56,242
    $
38,445
    $
39,792
    $
38,681
    $
173,160
 
Tubular Products
    
28,623
     
15,401
     
12,543
     
6,881
     
63,448
 
Total
   $
84,865
    $
53,846
    $
52,335
    $
45,562
    $
236,608
 
                                         
Gross profit (loss):
                                        
Water Transmission
   $
7,519
    $
1,255
    $
(725
 )   $
(7,443
 )   $
606
 
Tubular Products
    
(3,628
 )    
(3,848
 )    
(1,786
 )    
(3,969
 )    
(13,231
 )
Total
   $
3,891
    $
(2,593
 )   $
(2,511
 )   $
(11,412
 )   $
(12,625
 )
                                         
Operating income (loss):
                                        
Water Transmission (1)
   $
5,633
    $
(5,815
 )   $
(2,384
 )   $
(9,026
 )   $
(11,592
 )
Tubular Products
    
(4,617
 )    
(4,254
 )    
(2,298
 )    
(4,530
 )    
(15,699
 )
Corporate
    
(4,099
 )    
(3,258
 )    
(2,602
 )    
(2,960
 )    
(12,919
 )
Total
   $
(3,083
 )   $
(13,327
 )   $
(7,284
 )   $
(16,516
 )   $
(40,210
 )
                                         
Net loss
   $
(2,101
 )   $
(12,079
 )   $
(1,515
 )   $
(13,693
 )   $
(29,388
 )
                                         
Net loss per share:
                                        
Basic and diluted
   $
(0.22
 )   $
(1.26
 )   $
(0.16
 )   $
(1.43
 )   $
(3.07
 )
 
(1)
Operating loss for Water Transmission for the
second
quarter of
2015
includes the write-off of goodwill of
$5.3
million.