XML 54 R15.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Industry Segment Data | 12 Months Ended
--- | ---
Mar. 31, 2015
Segment Reporting [Abstract] |
Industry Segment Data | 7. INDUSTRY SEGMENT DATA The Company is engaged in the steel processing, pipe manufacturing and processing and steel and pipe distribution business. Within the Company, there are two product groups: coil and tubular. The Company’s coil operations involve converting steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils. Through its tubular operations, the Company purchases, processes, manufactures and markets tubular products. The following is a summary of significant financial information relating to the product groups:
|  | Year Ended March 31 |
|  | 2015 |  |  | 2014 |
NET SALES: |  |  |  |  |  |  |  |
Coil |  | $ | 72,913,058 |  |  | $ | 66,138,845 |
Tubular |  |  | 35,409,722 |  |  |  | 50,010,177 |
TOTAL NET SALES |  | $ | 108,322,780 |  |  | $ | 116,149,022 |
OPERATING PROFIT (LOSS): |  |  |  |  |  |  |  |
Coil |  | $ | (259,690 | ) |  | $ | (839,442 | )
Tubular |  |  | 2,602,210 |  |  |  | 5,288,372 |
TOTAL OPERATING PROFIT |  |  | 2,342,520 |  |  |  | 4,448,930 |
General corporate expenses |  |  | (1,717,744 | ) |  |  | (1,974,234 | )
Interest and other income |  |  | 61,040 |  |  |  | 62,012 |
TOTAL EARNINGS BEFORE INCOME TAXES |  | $ | 685,816 |  |  | $ | 2,536,708 |
IDENTIFIABLE ASSETS: |  |  |  |  |  |  |  |
Coil |  | $ | 21,248,710 |  |  | $ | 22,308,165 |
Tubular |  |  | 42,143,785 |  |  |  | 33,794,992 |
|  |  | 63,392,495 |  |  |  | 56,103,157 |
General corporate assets |  |  | 3,565,529 |  |  |  | 16,181,242 |
TOTAL ASSETS |  | $ | 66,958,024 |  |  | $ | 72,284,399 |
DEPRECIATION: |  |  |  |  |  |  |  |
Coil |  | $ | 1,141,567 |  |  | $ | 1,140,250 |
Tubular |  |  | 571,086 |  |  |  | 673,850 |
Corporate and other |  |  | 8,972 |  |  |  | 8,972 |
|  | $ | 1,721,625 |  |  | $ | 1,823,072 |
CAPITAL EXPENDITURES: |  |  |  |  |  |  |  |
Coil |  | $ | 229,425 |  |  | $ | 364,443 |
Tubular |  |  | 5,646,780 |  |  |  | 1,533,489 |
Corporate and other |  |  | — |  |  |  | 9,299 |
|  | $ | 5,876,205 |  |  | $ | 1,907,231 |
Operating profit is total net sales less operating expenses, excluding general corporate expenses, interest expense and interest and other income. General corporate expenses reflect general and administrative expenses not directly associated with segment operations and consist primarily of corporate and accounting salaries, professional fees and services, bad debts, accrued profit sharing expense, accrued quarterly incentive bonuses, corporate insurance expenses and office supplies. Corporate assets consist primarily of cash and the cash value of officers’ life insurance. Although inventory is transferred at cost between product groups, there are no sales between product groups. Capital expenditures were related primarily to the construction of the Company’s pipe-finishing facility located in Lone Star, Texas. As of March 31, 2015, capitalized expenditures related to the construction of the facility totaled approximately $7,131,000.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration