Industry Segments (Tables)

12 Months Ended

Dec. 31, 2024

The following tables summarizes certain information regarding segments of the Company's continuing operations:


	Year Ended December 31, 2024
(in thousands)	Specialty Chemicals		Tubular Products		Corporate & Other1		Total Continuing Operations
Net sales	$	80,764	$	97,108	$	—	$	177,872
Cost of goods sold - material	40,903		53,284		—		94,187
Cost of goods sold - other2	28,671		32,402		498		61,571
Gross profit	11,190		11,422		(498)		22,114
Selling, general and administrative expense3	9,546		8,743		8,297		26,586
Interest expense, net	75		1		342		418
Income taxes	—		—		6,159		6,159
Other expense (income)	476		29		(329)		176
Net income (loss)	1,093		2,649		(14,967)		(11,225)








Identifiable assets	$	38,928	$	61,980	$	46,296	$	147,204
Capital expenditures	1,180		773		(61)		1,892
Geographic sales
United States	75,565		95,264		—		170,829
International	$	5,199	$	1,844	—		$	7,043


	Year Ended December 31, 2023
(in thousands)	Specialty Chemicals		Tubular Products		Corporate & Other1		Total Continuing Operations
Net sales	$	83,616	$	109,513	$	50	$	193,179
Cost of goods sold - material	46,377		67,323		(63)		113,637
Cost of goods sold - other2	31,429		45,864		723		78,016
Gross profit	5,810		(3,674)		(610)		1,526
Selling, general and administrative expense3	6,966		7,537		12,209		26,712
Goodwill impairment	11,389		—		—		11,389
Interest expense, net	74		1		4,163		4,238
Income taxes	—		—		(6,924)		(6,924)
Other expense (income)	—		(1)		263		262
Net loss	(12,619)		(11,211)		(10,321)		(34,151)








Identifiable assets	$	49,547	$	70,548	$	42,339	$	162,434
Capital expenditures	1,519		1,104		262		2,885
Geographic sales
United States	79,498		108,693		50		188,241
International	$	4,118	$	820	$	—	$	4,938

1All Other includes corporate overhead expenses and ongoing expenses for properties under the Master Lease not assigned to a segment in which the Company is the responsible party.

2Cost of good sold - other includes manufacturing labor and overhead expenses, depreciation expense, repair and maintenance expense, shipping expense, scrap and shrinkage expense, and other operational manufacturing overhead expenses.

3Selling, general and administrative expenses include sales and administrative salaries, wages and benefits and overhead expenses, professional fees, depreciation and amortization expense, corporate overhead allocation expense and other administrative overhead expenses.