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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net sales $ 1,330,696 $ 1,055,116 $ 1,175,543
Costs and expenses      
Cost of materials sold (excludes items shown separately below) 1,055,212 820,040 942,214
Warehouse and processing 87,425 79,521 85,411
Administrative and general 69,659 63,054 64,987
Distribution 41,789 36,490 36,073
Selling 26,285 23,060 21,158
Occupancy 8,862 8,718 9,492
Depreciation 16,589 17,596 18,147
Amortization 889 889 889
Goodwill and intangible asset impairment [1] 24,951
Total costs and expenses 1,306,710 1,049,368 1,203,322
Operating income (loss) 23,986 [2] 5,748 [3] (27,779)
Other loss, net (118) (55) (125)
Income (loss) before interest and income taxes 23,868 5,693 (27,904)
Interest and other expense on debt 7,518 5,273 5,690
Income (loss) before income taxes 16,350 420 (33,594)
Income tax provision (benefit) (2,613) 1,498 (6,817)
Net income (loss) 18,963 [4] (1,078) (26,777)
Gain (loss) on cash flow hedges 114 (1,816)
Tax effect of hedges (44) 699
Reclassification of loss included in net income, net of tax of $804 for 2015 1,596
Total comprehensive income (loss) $ 18,963 $ (1,008) $ (26,298)
Net income (loss) per share - basic (in dollars per share) $ 1.67 $ (0.10) $ (2.39)
Weighted average shares outstanding - basic (in shares) 11,381 11,210 11,192
Net income (loss) per share - diluted (in dollars per share) $ 1.67 $ (0.10) $ (2.39)
Weighted average shares outstanding - diluted (in shares) 11,381 11,210 11,192
Dividends declared per share of common stock (in dollars per share) $ 0.08 $ 0.08 $ 0.08
[1] $24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment.
[2] Operating income (loss) in 2017 includes $2,707 of LIFO expense related to the Company's tubular and pipe products segment.
[3] Operating income (loss) in 2016 includes $1,489 of LIFO income related to the Company's tubular and pipe products segment.
[4] Includes a $6.2 million tax benefit related to the U.S. Tax Cuts and Jobs Act.