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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2019
Business Combinations [Abstract] |
Schedule of Preliminary Allocation of Total Consideration of Assets Acquired and Liabilities Assumed | The preliminary allocation of the total consideration paid to the fair value of the assets acquired and liabilities assumed as of January 1, 2019 is as follows:
Inventories | $ | 5,564,000 |
Accounts receivable | 3,533,921 |
Other current assets - production and maintenance supplies | 605,613 |
Property, plant and equipment | 2,793,173 |
Customer list intangible | 10,000,000 |
Goodwill | 7,043,534 |
Contingent consideration (earn-out liability) | (6,148,230 | )
Accounts payable | (1,400,009 | )
Other liabilities | (96,593 | )
| $ | 21,895,409 |
Schedule of Pro-Forma and Results of Operations Since Acquisition | The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on the date indicated above.
Pro-Forma |  |
| Three Months Ended
| Mar 31, 2018 |  |
Pro-forma net sales | $ | 67,006,777 |  |
Pro-forma net (loss) income | $ | 3,208,122 |  |
(Loss) earnings per share: |  |
Basic | $ | 0.37 |  |
Diluted | $ | 0.37 |  |
Munhall-Galvanized's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows:
| Three Months Ended
| Mar 31, 2019 |  |
Net sales | $ | 6,692,235 |  |
Income before income taxes | 346,403 |  |
ASTI's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows:
| Three Months Ended
| Mar 31, 2019 |  |
Net sales | $ | 9,513,220 |  |
Income before income taxes | 107,121 |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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