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Note 9 - Industry Segment Data (Tables) | 12 Months Ended
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Mar. 31, 2020
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | Year Ended March 31 |
|  | 20 20 |  |  | 2019 |
NET SALES: |  |  |  |  |  |  |  |
Coil |  | $ | 99,762,892 |  |  | $ | 124,555,478 |
Tubular |  |  | 42,339,432 |  |  |  | 62,599,015 |
TOTAL NET SALES |  | $ | 142,102,324 |  |  | $ | 187,154,493 |
OPERATING PROFIT (LOSS): |  |  |  |  |  |  |  |
Coil |  | $ | 1,252,669 |  |  | $ | 6,414,396 |
Tubular |  |  | (5,564,882 | ) |  |  | 2,328,871 |
TOTAL OPERATING PROFIT (LOSS) |  |  | (4,312,213 | ) |  |  | 8,743,267 |
General corporate expenses |  |  | (2,540,443 | ) |  |  | (2,342,279 | )
Interest expense |  |  | (4,806 | ) |  |  | (17,546 | )
Interest and other income |  |  | 19,260 |  |  |  | 440,503 |
TOTAL EARNINGS (LOSS) BEFORE INCOME TAXES |  | $ | (6,838,202 | ) |  | $ | 6,823,945 |
IDENTIFIABLE ASSETS: |  |  |  |  |  |  |  |
Coil |  | $ | 35,894,510 |  |  | $ | 43,104,205 |
Tubular |  |  | 23,659,457 |  |  |  | 31,519,755 |
|  |  | 59,553,967 |  |  |  | 74,623,960 |
General corporate assets |  |  | 17,790,121 |  |  |  | 11,978,022 |
TOTAL ASSETS |  | $ | 77,344,088 |  |  | $ | 86,601,982 |
DEPRECIATION: |  |  |  |  |  |  |  |
Coil |  | $ | 836,730 |  |  | $ | 551,241 |
Tubular |  |  | 675,048 |  |  |  | 782,327 |
Corporate and other |  |  | 13,183 |  |  |  | 6,924 |
|  | $ | 1,524,961 |  |  | $ | 1,340,492 |
CAPITAL EXPENDITURES: |  |  |  |  |  |  |  |
Coil |  | $ | 4,060,911 |  |  | $ | 396,299 |
Tubular |  |  | 841,817 |  |  |  | 377,400 |
Corporate and other |  |  | 32,633 |  |  |  | 34,290 |
|  | $ | 4,935,361 |  |  | $ | 807,989 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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