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Industry Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

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

						Three Months Ended March 31, 2025
(in thousands)						Specialty Chemicals						Tubular Products						Corporate & Other1						Total Continuing Operations
Net sales						$	17,835					$	6,897					$	—					$	24,732
Cost of goods sold - material						8,364						2,958						—						11,322
Cost of goods sold - other2						5,725						2,230						678						8,633
Gross profit						3,746						1,709						(678)						4,777
Selling, general and administrative expense3						2,899						704						1,972						5,575
Interest expense, net						16						1						98						115
Other expense (income)						93						—						(4)						89
Net income (loss)						738						1,004						(2,744)						(1,002)

						Three Months Ended March 31, 2024
(in thousands)						Specialty Chemicals						Tubular Products						Corporate & Other1						Total Continuing Operations
Net sales						$	20,296					$	7,656					$	—					$	27,952
Cost of goods sold - material						10,546						3,697						—						14,243
Cost of goods sold - other2						8,199						3,020						165						11,384
Gross profit						1,551						939						(165)						2,325
Selling, general and administrative expense3						2,990						993						2,685						6,668
Interest expense, net						19						—						108						127
Income taxes						—						—						(585)						(585)
Other expense (income)						—						—						(119)						(119)
Net loss						(1,458)						(54)						(2,254)						(3,766)

			As of
(in thousands)			March 31, 2025						December 31, 2024
Identifiable assets
Tubular Products			$	40,673					$	38,928
Specialty Chemicals			13,646						12,502
Corporate and other			44,670						46,297
			$	98,989					$	97,727

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.

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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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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