Ascent Industries (ACNT) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 09, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	0-19687
Entity Registrant Name	Synalloy Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	57-0426694
Entity Address, Address Line One	1400 16th Street,
Entity Address, Address Line Two	Suite 270,
Entity Address, City or Town	Oak Brook,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60523
City Area Code	(804)
Local Phone Number	822-3260
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	SYNL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,239,998
Entity Central Index Key	0000095953
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,241	$ 2,021
Accounts receivable, net of allowance for credit losses of $456 and $216, respectively	67,819	50,126
Inventories, net	112,114	103,249
Prepaid expenses and other current assets	3,808	3,728
Assets held for sale	797	855
Total current assets	185,779	159,979
Property, plant and equipment, net	42,720	43,720
Right-of-use assets, operating leases, net	30,431	30,811
Goodwill	12,637	12,637
Intangible assets, net	13,661	14,382
Deferred charges, net	278	302
Other non-current assets, net	4,127	4,171
Total assets	289,633	266,002
Current liabilities:
Accounts payable	44,268	32,318
Accounts payable - related parties	2	2
Accrued expenses and other current liabilities	13,609	12,407
Current portion of long-term debt	2,464	2,464
Current portion of earn-out liabilities	891	1,961
Current portion of operating lease liabilities	1,140	1,104
Current portion of finance lease liabilities	248	233
Total current liabilities	62,622	50,489
Long-term debt	68,610	67,928
Long-term portion of operating lease liabilities	31,748	32,059
Long-term portion of finance lease liabilities	1,362	1,414
Deferred income taxes	2,861	2,433
Other long-term liabilities	76	89
Total non-current liabilities	104,657	103,923
Commitments and contingencies – See Note 13
Shareholders' equity:
Common stock, par value $1 per share; authorized 24,000,000 shares; issued 11,085,000 shares	11,085	11,085
Capital in excess of par value	46,028	46,058
Retained earnings	73,340	63,080
Shareholders' equity before treasury stock	130,453	120,223
Less: cost of common stock in treasury - 861,605 and 918,471 shares, respectively	8,099	8,633
Total shareholders' equity	122,354	111,590
Total liabilities and shareholders' equity	$ 289,633	$ 266,002

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets [Abstract]
Allowance for credit loss	$ 456	$ 216
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	24,000,000	24,000,000
Common stock, shares issued (in shares)	11,085,000	11,085,000
Common stock in treasury, at cost (in shares)	861,605	918,471

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 116,218	$ 69,778
Cost of sales	93,722	61,043
Gross profit	22,496	8,735
Selling, general and administrative	8,646	6,869
Acquisition costs and other	531	0
Proxy contest costs and recoveries	0	(464)
Earn-out adjustments	102	225
Operating income	13,217	2,105
Other expense (income)
Interest expense	403	387
Loss on extinguishment of debt	0	223
Change in fair value of interest rate swaps	0	(2)
Other, net	(35)	162
Income before income taxes	12,849	1,335
Income tax provision	2,589	241
Net income	$ 10,260	$ 1,094
Net income per common share:
Basic (in dollars per share)	$ 1	$ 0.12
Diluted (in dollars per share)	$ 0.99	$ 0.12
Weighted average shares outstanding:
Basic (in shares)	10,209	9,191
Dilutive effect from stock options and grants (in shares)	111	97
Diluted (in shares)	10,320	9,288

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ 10,260	$ 1,094
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation expense	2,116	1,817
Amortization expense	721	680
Amortization of debt issuance costs	25	21
Loss on extinguishment of debt	0	223
Deferred income taxes	428	(41)
Earn-out adjustments	102	225
Payments on earn-out liabilities in excess of acquisition date fair value	(372)	0
Provision for losses on accounts receivable	240	12
Provision for losses on inventories	496	184
Loss on disposal of property, plant and equipment	(5)	28
Non-cash lease expense	107	124
Change in fair value of interest rate swap	0	(2)
Issuance of treasury stock for director fees	254	0
Stock-based compensation expense	132	187
Changes in operating assets and liabilities:
Accounts receivable	(17,933)	(11,181)
Inventories	(9,302)	(3,866)
Other assets and liabilities	(27)	38
Accounts payable	11,950	6,357
Accrued expenses	(959)	(569)
Accrued income taxes	2,161	3,901
Net cash provided by (used in) operating activities	394	(768)
Investing activities
Purchases of property, plant and equipment	(1,117)	(245)
Proceeds from disposal of property, plant and equipment	5	18
Net cash used in investing activities	(1,112)	(227)
Financing activities
Borrowings from long-term debt	122,068	14,730
Proceeds from exercise of stock options	118	0
Payments on long-term debt	(121,386)	(12,333)
Principal payments on finance lease obligations	(62)	(10)
Payments on earn-out liabilities	(800)	(1,029)
Payments for termination of interest rate swap	0	(46)
Payments of deferred financing costs	0	(155)
Net cash (used in) provided by financing activities	(62)	1,157
(Decrease) increase in cash and cash equivalents	(780)	162
Cash and cash equivalents at beginning of period	2,021	236
Cash and cash equivalents at end of period	1,241	398
Supplemental disclosure
Interest	317	315
Income taxes	$ 2	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Cost of Common Stock in Treasury
Beginning balance (in shares) at Dec. 31, 2020		10,300
Beginning balance at Dec. 31, 2020	$ 80,295	$ 10,300	$ 37,719	$ 42,835	$ (10,559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,094			1,094
Issuance of shares of common stock from the treasury	0		(238)		238
Stock-based compensation	187		187
Ending balance (in shares) at Mar. 31, 2021		10,300
Ending balance at Mar. 31, 2021	81,576	$ 10,300	37,668	43,929	(10,321)
Beginning balance (in shares) at Dec. 31, 2021		11,085
Beginning balance at Dec. 31, 2021	111,590	$ 11,085	46,058	63,080	(8,633)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,260			10,260
Issuance of shares of common stock from the treasury	254		(151)		405
Exercise of stock options, net	118		(11)		129
Stock-based compensation	132		132
Ending balance (in shares) at Mar. 31, 2022		11,085
Ending balance at Mar. 31, 2022	$ 122,354	$ 11,085	$ 46,028	$ 73,340	$ (8,099)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Issuance of common stock from the treasury (in shares)	43,082	25,363
Stock options exercised, net (in shares)	13,784

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Financial Statement Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included as required by Regulation S-X, Rule 10-01. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Annual Report"). The financial results for the interim periods may not be indicative of the financial results for the entire year. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP required management to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. COVID-19 Update The COVID-19 pandemic and related responses by public health and governmental authorities to contain and combat the outbreak and spread have adversely affected many economic sectors, significantly disrupted the global supply chain and fueled producer price and consumer inflation. During the first quarter of 2022, aspects of the Company's business continued to be affected by macroeconomic factors related to the COVID-19 pandemic, specifically with labor shortages at our plants and other areas of our business. We continue to experience demand for our products, however, the full extent of the future impact of the COVID-19 pandemic on the Company's operational and financial performance is currently uncertain and will depend on many factors outside of the Company's control. Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (FASB) issued ASU 2020-04 "Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting." The ASU, and subsequent clarifications, provide practical expedients for contract modification accounting related to the transition away from the London Interbank Offered Rate (LIBOR) and other interbank offering rates to alternative reference rates. The expedients are applicable to contract modifications made and hedging relationships entered into on or before December 31, 2022. The Company intends to use the expedients where needed for reference rate transition. The Company continues to evaluate this standard update and does not currently expect a material impact to the Company’s financial statements or disclosures.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisition of DanChem Technologies, Inc. On October 22, 2021, the Company completed the acquisition of DanChem, a contract manufacturer of chemical products located in Danville, Virginia. The Company accounted for the transaction as a business combination using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805 - "Business Combinations." The preliminary purchase price was $34.1 million including $1.5 million in cash obtained through the acquisition. The purchase price was paid in cash and funded through a drawdown of $34.5 million on the Company’s existing revolving credit facility. Amounts outstanding under the revolving line of credit portion of the facility currently bear interest, at the Company's option, at (a) the Base Rate (as defined in the Credit Agreement) plus 0.50%, or (b) LIBOR plus 150%. See Note 8 for more information on the Company's long-term debt. The table below summarizes the preliminary estimates of fair value of identifiable assets acquired and liabilities assumed in the Acquisition. These preliminary estimates of the fair value are subject to revisions, which may result in an adjustment to the preliminary values presented below. (in thousands) October 22, 2021 Cash and cash equivalents $ 1,533 Accounts receivable, net of allowance for credit losses 5,358 Inventories, net 1,561 Prepaid expenses and other current assets 454 Property, plant and equipment, net 15,697 Right of use asset, operating leases, net 208 Intangible assets, net 5,750 Total identifiable assets acquired 30,561 Accounts payable 1,751 Accrued expenses and other current liabilities 1,622 Current portion of operating lease liabilities 51 Current portion of finance lease liabilities 215 Deferred income taxes 2,542 Long-term portion of operating lease liabilities 157 Long-term portion of finance lease liabilities 1,408 Total identifiable liabilities assumed 7,746 Net identifiable assets acquired 22,815 Transaction price 34,097 Goodwill $ 11,282 The Company is in various phases of valuing the assets and liabilities assumed, including deferred tax balances, and the Company's estimates of these values was still preliminary on March 31, 2022. Therefore, these provisional amounts are subject to change as the Company continues to evaluate information required to complete the valuations throughout the measurement period, which will not exceed one year from the acquisition date. Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The recognized goodwill is attributable to operational synergies, assembled workforce and growth opportunities and was allocated to the Company's Specialty Chemicals Segment . Substantially all of the goodwill resulting from this acquisition is not expected to be deductible for tax purposes. Approximately $0.3 million of one-time, acquisition-related costs, is recognized in acquisition costs and other expenses in the condensed consolidated statement of operations for the three months ended March 31, 2022 . The Company identified DanChem’s customer relationships, product development know-how, and tradename as finite-lived assets with estimated fair values as of the acquisition date of $5.1 million, $0.5 million, and $0.2 million, respectively. The finite-lived assets are subject to amortization using the straight-line method over 15 years. Total net sales and operating income for DanChem for the three months ended March 31, 2022 were as follows: (in thousands) Three Months Ended Net sales $ 7,474 Operating income $ 235

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue is generated primarily from contracts to produce, ship and deliver steel and specialty chemical products. The Company’s performance obligations are satisfied and revenue is recognized when control and title of the contract promised goods or services is transferred to our cus tomers for product shipped or services rendered. Revenues are recorded net of any sales incentives and discounts. Sales tax and other taxes we collect with revenue-producing activities are excluded from revenue. Shipping costs charged to customers are treated as fulfillment activities and are recorded in both revenue and cost of sales at the time control is transferred to the customer. Costs related to obtaining sales contracts are incidental and are expensed when incurred. Because customers are invoiced at the time title transfers and the Company’s right to consideration is unconditional at that time, the Company does not maintain contract asset balances. Additionally, the Company does not maintain material contract liability balances, as performance obligations for substantially all contracts are satisfied prior to customer payment for product. The Company offers industry standard payment terms. The following table presents the Company's revenues, disaggregated by product group. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Three Months Ended March 31, (in thousands) 2022 2021 Fiberglass and steel liquid storage tanks and separation equipment $ 114 $ 141 Heavy wall seamless carbon steel pipe and tube 12,373 7,818 Stainless steel pipe and tube 62,239 39,911 Galvanized pipe and tube 13,771 7,343 Specialty chemicals 27,721 14,565 Net sales $ 116,218 $ 69,778

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, we use a three-tier valuation hierarchy based upon observable and non-observable inputs: Level 1 - Unadjusted quoted prices that are available in active markets for identical assets or liabilities at the measurement date. Level 2 - Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in non-active markets; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by other observable market data. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using model-based techniques, including option pricing models, discounted cash flow models, probability weighted models, and Monte Carlo simulations. The Company's financial instruments include cash and cash equivalents, accounts receivable, accounts payable, earn-out liabilities, a revolving line of credit and long-term debt. Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Level 3: Contingent consideration (earn-out) liabilities The fair value of contingent consideration ("earn-out") liabilities resulting from the 2018 MUSA-Galvanized acquisition and the 2019 American Stainless acquisition are classified as Level 3. Each quarter-end, the Company re-evaluates its assumptions for all earn-out liabilities and adjusts to reflect the updated fair values. Changes in the estimated fair value of the earn-out liabilities are reflected in operating income in the periods in which they are identified. Changes in the fair value of the earn-out liabilities may materially impact and cause volatility in the Company's operating results. The significant unobservable inputs used in the fair value measurement of the Company's earn-out liabilities are the discount rate, timing of the estimated payouts, and future revenue projections. Significant increases (decreases) in any of those inputs would not have resulted in a material difference in the fair value measurement of the earn-out liabilities for the three months ended March 31, 2022. The following table presents a summary of changes in fair value of the Company's Level 3 earn-out liabilities measured on a recurring basis for the three months ended March 31, 2022: (in thousands) MUSA-Galvanized American Stainless Total Balance December 31, 2021 $ 1,106 $ 855 $ 1,961 Earn-out payments during the period (317) (855) (1,172) Changes in fair value during the period 102 — 102 Balance March 31, 2022 $ 891 $ — $ 891 For the three months ended March 31, 2022, the Company had no unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value instruments. Quantitative Information about Significant Unobservable Inputs Used in Level 3 Fair Value Measurements The following table summarizes the significant unobservable inputs in the fair value measurement of our contingent consideration (earn-out) liabilities as of March 31, 2022: Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range Weighted Contingent consideration (earn-out) liabilities $891 Probability Weighted Expected Return Discount rate - 5% Timing of estimated payouts 2022 - Future revenue projections $8.9M $8.9M The weighted average discount rate was calculated by applying an equal weighting to each contingent consideration's (earn-out liabilities) discount rate. The weighted average future revenue projection was calculated by applying an equal weighting of probabilities to each forecasted scenario within the valuation models to determine the probability weighted sales applicable to the contingent consideration (earn-out liabilities). Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis During the three months ended March 31, 2022, the Company's only significant measurements of assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition were certain assets classified as held for sale. Assets Held for Sale On February 17, 2021 the Board of Directors authorized the permanent cessation of operations at Palmer and the subleasing of the Palmer facility. As of December 31, 2021 the Company permanently ceased operations at the Palmer facility and determined that the remaining asset group met the criteria to be classified as held for sale, and therefore classified the related assets as held for sale on the consolidated balance sheets. The Company determined that the exit from this business did not represent a strategic shift that had a major effect on its consolidated results of operations, and therefore this business was not classified as discontinued operations. As of March 31, 2022, the remaining Palmer assets continue to be classified as held for sale. The results of operations for this business are included within the Metals Segment for all periods presented in this quarterly report. The Company uses observable inputs, such as prices of comparable assets in active markets to determine the fair value of the remaining assets. The Company classifies these fair value measurements as Level 2. The assets classified as held for sale are as follows: (in thousands) March 31, 2022 December 31, 2021 Inventory, net $ 559 $ 617 Property, plant and equipment, net 238 238 Assets held for sale $ 797 $ 855 The Company remains obligated under the terms of the leases for the rent and other costs that may be associated with the lease of the facility through 2036. The Company currently has a sublease for a portion of the Palmer facility and is actively pursuing a sublease for the remaining portion of the facility. The Company will continue to dispose of the remaining assets throughout fiscal 2022. During the three months ended March 31, 2021, the Company had no significant measurements of assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition. Fair Value of Financial Instruments For short-term instruments, other than those required to be reported at fair value on a recurring and non-recurring basis and for which additional disclosures are included above, management concluded the historical carrying value is a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization. Therefore, as of March 31, 2022 and December 31, 2021, the carrying amounts for cash and cash equivalents, accounts receivable, accounts payable, the Company's revolving line of credit and long-term debt, which is based on a variable interest rate, approximate their fair value.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by either specific identification or weighted average methods. The components of inventories are as follows: (in thousands) March 31, 2022 December 31, 2021 Raw materials $ 54,654 $ 48,745 Work-in-process 29,970 25,187 Finished goods 29,280 30,666 113,904 104,598 Less: inventory reserves (1,790) (1,349) Inventories, net $ 112,114 $ 103,249

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consist of the following: (in thousands) March 31, 2022 December 31, 2021 Land $ 723 $ 723 Leasehold improvements 4,641 4,641 Buildings 53 53 Machinery, fixtures and equipment 110,331 110,127 Construction-in-progress 2,803 1,900 118,551 117,444 Less: accumulated depreciation and amortization (75,831) (73,724) Property, plant and equipment, net $ 42,720 $ 43,720 The following table sets forth depreciation expense related to property, plant and equipment: Three Months Ended March 31, (in thousands) 2022 2021 Cost of sales $ 2,054 $ 1,734 Selling, general and administrative 62 83 Total depreciation $ 2,116 $ 1,817

Intangible Assets and Deferred

Intangible Assets and Deferred Charges	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Deferred Charges	Intangible Assets and Deferred Charges Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions and are amortized over their estimated useful life using either an accelerated or straight-line method over a period of eight The balance of intangible assets subject to amortization are as follows: (in thousands) March 31, 2022 December 31, 2021 Intangible assets, gross $ 28,876 $ 28,876 Accumulated amortization of intangible assets (15,215) (14,494) Intangible assets, net $ 13,661 $ 14,382 Estimated amortization expense related to intangible assets for the next five years are as follows: (in thousands) Remainder of 2022 $ 2,163 2023 1,433 2024 1,336 2025 1,238 2026 1,141 2027 1,044 Thereafter $ 5,306 Deferred Charges Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of four years. The balance of deferred charges subject to amortization are as follows: (in thousands) March 31, 2022 December 31, 2021 Deferred charges, gross $ 398 $ 398 Accumulated amortization of deferred charges (120) (96) Deferred charges, net $ 278 $ 302

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following: (in thousands) March 31, 2022 December 31, 2021 Revolving line of credit, due January 15, 2025 $ 66,432 $ 65,571 Term loan, due January 15, 2025 4,642 4,821 Total long-term debt 71,074 70,392 Less: Current portion of long-term debt (2,464) (2,464) Long-term debt, less current portion $ 68,610 $ 67,928 The Company and its subsidiaries have a Credit Agreement with BMO Harris Bank, N.A. ("BMO") which provides the Company with a four-year revolving credit facility with up to $150.0 million of borrowing capacity (the "Facility"). The initial borrowing capacity under the Facility totals $110.0 million consisting of a $105.0 million revolving line of credit and a $5.0 million delayed draw term loan. The revolving line of credit includes a $17.5 million machinery and equipment sub-limit which requires quarterly payments of $0.4 million with a balloon payment due upon maturity of the Facility in January 2025. The term loan requires quarterly payments of $0.2 million with a balloon payment due upon maturity of the Facility in January 2025. We have pledged all of our accounts receivable, inventory, and certain machinery and equipment as collateral for the Credit Agreement. Availability under the Credit Agreement is subject to the amount of eligible collateral as determined by the lenders' borrowing base calculations. Amounts outstanding under the revolving line of credit portion of the Facility currently bear interest, at the Company's option, at (a) the Base Rate (as defined in the Credit Agreement) plus 0.50%, or (b) LIBOR plus 1.50%. Amounts outstanding under the delayed draw term loan portion of the Facility bear interest at LIBOR plus 1.65%. The Facility also provides an unused commitment fee based on the daily used portion of the Facility. The weighted average interest rate per annum was 2.14% as of March 31, 2022. Pursuant to the Credit Agreement, the Company was required to pledge all of its tangible and intangible properties, including the stock and membership interests of its subsidiaries. The Facility contains covenants requiring the maintenance of a minimum consolidated fixed charge coverage ratio if excess availability falls below the greater of (i) $7.5 million and (ii) 10% of the revolving credit facility (currently $10.5 million). As of March 31, 2022, the Company was in compliance with all debt covenants. As of March 31, 2022, the Company had $38.6 million of remaining available capacity under its credit facility.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases Balance Sheet Presentation Operating and finance lease amounts included in the unaudited condensed consolidated balance sheet are as follows (in thousands): Classification Financial Statement Line Item March 31, 2022 December 31, 2021 Assets Right-of-use assets, operating leases $ 30,431 $ 30,811 Assets Property, plant and equipment 1,598 1,640 Current liabilities Current portion of lease liabilities, operating leases 1,140 1,104 Current liabilities Current portion of lease liabilities, finance leases 248 233 Non-current liabilities Non-current portion of lease liabilities, operating leases 31,748 32,059 Non-current liabilities Non-current portion of lease liabilities, finance leases 1,362 1,414 Total Lease Cost Individual components of the total lease cost incurred by the Company are as follows: (in thousands) Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Operating lease cost $ 1,048 $ 1,023 Finance lease cost: Amortization of right-of-use assets 67 9 Interest on finance lease liabilities 9 — Sublease income $ (33) $ — Total lease cost $ 1,091 $ 1,032 Reduction in carrying amounts of right-of-use assets held under finance leases is included in depreciation expense. Minimum rental payments under operating leases are recognized on a straight-line method over the term of the lease including any periods of free rent and are included in selling, general, and administrative expense on the unaudited condensed consolidated statement of operations. During the fourth quarter of 2021, the Company entered into a sublease agreement with a third party to sublease a portion of the Palmer facility. The sublease agreement continues through the remaining term of the Master Lease Agreement and will expire on September 30, 2036, unless terminated in accordance with the sublease agreement. The sublease provides for an annual base rent of approximately $0.1 million in the first year, which increases on an annual basis by 2.0%. The sublessee is responsible for its pro rata share of certain costs, taxes and operating expenses related to the subleased space. The sublease includes an initial security deposit of $0.1 million. Future expected cash receipts from the sublease as of March 31, 2022 are as follows: (in thousands) Sublease Receipts Remainder of 2022 $ 95 2023 129 2024 132 2025 134 2026 137 Thereafter 1,490 Total sublease receipts $ 2,117 Maturity of Leases The amounts of undiscounted future minimum lease payments under leases as of March 31, 2022 are as follows: (in thousands) Operating Finance Remainder of 2022 $ 2,548 $ 211 2023 3,818 272 2024 3,658 246 2025 3,677 233 2026 3,683 233 Thereafter 39,866 542 Total undiscounted minimum future lease payments 57,250 1,737 Imputed interest 24,362 127 Present value of lease liabilities $ 32,888 $ 1,610 Lease Term and Discount Rate Weighted-average remaining lease term March 31, 2022 December 31, 2021 Operating leases 14.21 years 14.43 years Finance leases 6.79 years 7.07 years Weighted-average discount rate Operating leases 8.30 % 8.30 % Finance leases 2.29 % 2.27 %
Leases	Leases Balance Sheet Presentation Operating and finance lease amounts included in the unaudited condensed consolidated balance sheet are as follows (in thousands): Classification Financial Statement Line Item March 31, 2022 December 31, 2021 Assets Right-of-use assets, operating leases $ 30,431 $ 30,811 Assets Property, plant and equipment 1,598 1,640 Current liabilities Current portion of lease liabilities, operating leases 1,140 1,104 Current liabilities Current portion of lease liabilities, finance leases 248 233 Non-current liabilities Non-current portion of lease liabilities, operating leases 31,748 32,059 Non-current liabilities Non-current portion of lease liabilities, finance leases 1,362 1,414 Total Lease Cost Individual components of the total lease cost incurred by the Company are as follows: (in thousands) Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Operating lease cost $ 1,048 $ 1,023 Finance lease cost: Amortization of right-of-use assets 67 9 Interest on finance lease liabilities 9 — Sublease income $ (33) $ — Total lease cost $ 1,091 $ 1,032 Reduction in carrying amounts of right-of-use assets held under finance leases is included in depreciation expense. Minimum rental payments under operating leases are recognized on a straight-line method over the term of the lease including any periods of free rent and are included in selling, general, and administrative expense on the unaudited condensed consolidated statement of operations. During the fourth quarter of 2021, the Company entered into a sublease agreement with a third party to sublease a portion of the Palmer facility. The sublease agreement continues through the remaining term of the Master Lease Agreement and will expire on September 30, 2036, unless terminated in accordance with the sublease agreement. The sublease provides for an annual base rent of approximately $0.1 million in the first year, which increases on an annual basis by 2.0%. The sublessee is responsible for its pro rata share of certain costs, taxes and operating expenses related to the subleased space. The sublease includes an initial security deposit of $0.1 million. Future expected cash receipts from the sublease as of March 31, 2022 are as follows: (in thousands) Sublease Receipts Remainder of 2022 $ 95 2023 129 2024 132 2025 134 2026 137 Thereafter 1,490 Total sublease receipts $ 2,117 Maturity of Leases The amounts of undiscounted future minimum lease payments under leases as of March 31, 2022 are as follows: (in thousands) Operating Finance Remainder of 2022 $ 2,548 $ 211 2023 3,818 272 2024 3,658 246 2025 3,677 233 2026 3,683 233 Thereafter 39,866 542 Total undiscounted minimum future lease payments 57,250 1,737 Imputed interest 24,362 127 Present value of lease liabilities $ 32,888 $ 1,610 Lease Term and Discount Rate Weighted-average remaining lease term March 31, 2022 December 31, 2021 Operating leases 14.21 years 14.43 years Finance leases 6.79 years 7.07 years Weighted-average discount rate Operating leases 8.30 % 8.30 % Finance leases 2.29 % 2.27 %
Leases	Leases Balance Sheet Presentation Operating and finance lease amounts included in the unaudited condensed consolidated balance sheet are as follows (in thousands): Classification Financial Statement Line Item March 31, 2022 December 31, 2021 Assets Right-of-use assets, operating leases $ 30,431 $ 30,811 Assets Property, plant and equipment 1,598 1,640 Current liabilities Current portion of lease liabilities, operating leases 1,140 1,104 Current liabilities Current portion of lease liabilities, finance leases 248 233 Non-current liabilities Non-current portion of lease liabilities, operating leases 31,748 32,059 Non-current liabilities Non-current portion of lease liabilities, finance leases 1,362 1,414 Total Lease Cost Individual components of the total lease cost incurred by the Company are as follows: (in thousands) Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Operating lease cost $ 1,048 $ 1,023 Finance lease cost: Amortization of right-of-use assets 67 9 Interest on finance lease liabilities 9 — Sublease income $ (33) $ — Total lease cost $ 1,091 $ 1,032 Reduction in carrying amounts of right-of-use assets held under finance leases is included in depreciation expense. Minimum rental payments under operating leases are recognized on a straight-line method over the term of the lease including any periods of free rent and are included in selling, general, and administrative expense on the unaudited condensed consolidated statement of operations. During the fourth quarter of 2021, the Company entered into a sublease agreement with a third party to sublease a portion of the Palmer facility. The sublease agreement continues through the remaining term of the Master Lease Agreement and will expire on September 30, 2036, unless terminated in accordance with the sublease agreement. The sublease provides for an annual base rent of approximately $0.1 million in the first year, which increases on an annual basis by 2.0%. The sublessee is responsible for its pro rata share of certain costs, taxes and operating expenses related to the subleased space. The sublease includes an initial security deposit of $0.1 million. Future expected cash receipts from the sublease as of March 31, 2022 are as follows: (in thousands) Sublease Receipts Remainder of 2022 $ 95 2023 129 2024 132 2025 134 2026 137 Thereafter 1,490 Total sublease receipts $ 2,117 Maturity of Leases The amounts of undiscounted future minimum lease payments under leases as of March 31, 2022 are as follows: (in thousands) Operating Finance Remainder of 2022 $ 2,548 $ 211 2023 3,818 272 2024 3,658 246 2025 3,677 233 2026 3,683 233 Thereafter 39,866 542 Total undiscounted minimum future lease payments 57,250 1,737 Imputed interest 24,362 127 Present value of lease liabilities $ 32,888 $ 1,610 Lease Term and Discount Rate Weighted-average remaining lease term March 31, 2022 December 31, 2021 Operating leases 14.21 years 14.43 years Finance leases 6.79 years 7.07 years Weighted-average discount rate Operating leases 8.30 % 8.30 % Finance leases 2.29 % 2.27 %

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Share Repurchase Program On February 17, 2021, the Board of Directors re-authorized the Company's share repurchase program. The previous share repurchase program had a term of 24 months and terminated on February 21, 2021. The share repurchase program allows for repurchase of up to 790,383 shares of the Company's outstanding common stock over 24 months. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted. As of March 31, 2022, the Company has 790,383 shares of its share repurchase authorization remaining.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, (in thousands, except per share data) 2022 2021 Numerator: Net income $ 10,260 $ 1,094 Denominator: Denominator for basic earnings per share - weighted average shares 10,209 9,191 Effect of dilutive securities: Employee stock options and stock grants 111 97 Denominator for diluted earnings per share - weighted average shares 10,320 9,288 Net income per share: Basic $ 1.00 $ 0.12 Diluted $ 0.99 $ 0.12 The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had an immaterial number of shares of common stock that were anti-dilutive for the three months ended March 31, 2022. The Company had 0.2 million shares of common stock that were anti-dilutive for the three months ended March 31, 2021.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The Company is no longer subject to U.S. federal examinations for years before 2018 or state examinations for years before 2017. During the three months ended March 31, 2022 and 2021, the Company did not identify nor reserve for any unrecognized tax benefits. Our income tax provision and overall effective tax rates for the periods presented are as follows: Three Months Ended March 31, (in thousands) 2022 2021 Income tax provision $ 2,589 $ 241 Effective income tax rate 20.2 % 18.1 % The effective tax rate was 20.2% and 18.1% for the three months ended March 31, 2022 and 2021, respectively. The March 31, 2022 effective tax rate was lower than the U.S. statutory rate of 21.0% primarily due to a forecasted reduction in the valuation allowance in the current year . The March 31, 2021 effective tax rate was also lower than the statutory rate of 21.0% primarily due to a reduction in the valuation allowance in the period.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is from time-to-time subject to various claims, possible legal actions for product liability and other damages, and other matters arising out of the normal conduct of the Company's business. Management is not currently aware of any asserted or unasserted matters which could have a material effect on the financial condition or results of operations of the Company.

Industry Segments

Industry Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Industry Segments	Industry Segments The Company's business is divided into two reportable operating segments, the Metals Segment and the Specialty Chemicals Segment. The Metals Segment operates as three reporting units that include Bristol Metals, LLC ("BRISMET") and American Stainless Tubing, LLC ("ASTI") (collectively "Welded Pipe & Tube"), Palmer of Texas Tanks, Inc. ("Palmer"), and Specialty Pipe & Tube, Inc. ("Specialty"). As discussed in No te 4 , the Company permanently ceased operations at Palmer as of December 31, 2021 and have classified the remaining assets as held for sale. The results of operations for this business are included within the Metals Segment for all periods presented in this quarterly report. The Metals Segment serves markets through pipe and tube and customers in the appliance, architectural, automotive and commercial transportation, brewery, chemical, petrochemical, pulp and paper, mining, power generation (including nuclear), water and waste-water treatment, liquid natural gas ("LNG"), food processing, pharmaceutical, oil and gas and other industries. The Specialty Chemicals Segment operates as one reporting unit which includes Manufacturers Chemicals, LLC ("MC"), a wholly-owned subsidiary of Manufacturers Soap and Chemical Company ("MS&C"), CRI Tolling, LLC ("CRI") and DanChem Technologies, Inc ("DanChem"). The Specialty Chemicals Segment produces specialty products for the pulp and paper, coatings, adhesives, sealants and elastomers (CASE), textile, automotive, household, industrial and institutional ("HII"), agricultural, water and waste-water treatment, construction, oil and gas and other industries. The following table summarizes certain information regarding segments of the Company's operations: Three Months Ended March 31, (in thousands) 2022 2021 Net sales Metals Segment $ 88,497 $ 55,213 Specialty Chemicals Segment 27,721 14,565 $ 116,218 $ 69,778 Operating income Metals Segment $ 14,492 $ 2,577 Specialty Chemicals Segment 2,387 1,056 Unallocated corporate expenses 3,029 1,767 Acquisition costs and other 531 — Proxy contest costs and recoveries — (464) Earn-out adjustments 102 225 Operating income 13,217 2,105 Interest expense 403 387 Loss on extinguishment of debt — 223 Change in fair value of interest rate swap — (2) Other, net (35) 162 Income before income taxes $ 12,849 $ 1,335 As of (in thousands) March 31, 2022 December 31, 2021 Identifiable assets Metals Segment $ 177,039 $ 160,625 Specialty Chemicals Segment 80,342 72,908 Corporate 32,252 32,469 $ 289,633 $ 266,002

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have been no events that have occurred that would require adjustments to our disclosures in the condensed consolidated financial statements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included as required by Regulation S-X, Rule 10-01. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Annual Report"). The financial results for the interim periods may not be indicative of the financial results for the entire year.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP required management to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (FASB) issued ASU 2020-04 "Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting." The ASU, and subsequent clarifications, provide practical expedients for contract modification accounting related to the transition away from the London Interbank Offered Rate (LIBOR) and other interbank offering rates to alternative reference rates. The expedients are applicable to contract modifications made and hedging relationships entered into on or before December 31, 2022. The Company intends to use the expedients where needed for reference rate transition. The Company continues to evaluate this standard update and does not currently expect a material impact to the Company’s financial statements or disclosures.
Fair Value of Financial Instruments	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, we use a three-tier valuation hierarchy based upon observable and non-observable inputs: Level 1 - Unadjusted quoted prices that are available in active markets for identical assets or liabilities at the measurement date. Level 2 - Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in non-active markets; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by other observable market data. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using model-based techniques, including option pricing models, discounted cash flow models, probability weighted models, and Monte Carlo simulations.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Allocation of Total Consideration of Assets Acquired and Liabilities Assumed	The table below summarizes the preliminary estimates of fair value of identifiable assets acquired and liabilities assumed in the Acquisition. These preliminary estimates of the fair value are subject to revisions, which may result in an adjustment to the preliminary values presented below. (in thousands) October 22, 2021 Cash and cash equivalents $ 1,533 Accounts receivable, net of allowance for credit losses 5,358 Inventories, net 1,561 Prepaid expenses and other current assets 454 Property, plant and equipment, net 15,697 Right of use asset, operating leases, net 208 Intangible assets, net 5,750 Total identifiable assets acquired 30,561 Accounts payable 1,751 Accrued expenses and other current liabilities 1,622 Current portion of operating lease liabilities 51 Current portion of finance lease liabilities 215 Deferred income taxes 2,542 Long-term portion of operating lease liabilities 157 Long-term portion of finance lease liabilities 1,408 Total identifiable liabilities assumed 7,746 Net identifiable assets acquired 22,815 Transaction price 34,097 Goodwill $ 11,282
Schedule of Business Acquisitions, by Acquisition	Total net sales and operating income for DanChem for the three months ended March 31, 2022 were as follows: (in thousands) Three Months Ended Net sales $ 7,474 Operating income $ 235

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Product Group	The following table presents the Company's revenues, disaggregated by product group. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Three Months Ended March 31, (in thousands) 2022 2021 Fiberglass and steel liquid storage tanks and separation equipment $ 114 $ 141 Heavy wall seamless carbon steel pipe and tube 12,373 7,818 Stainless steel pipe and tube 62,239 39,911 Galvanized pipe and tube 13,771 7,343 Specialty chemicals 27,721 14,565 Net sales $ 116,218 $ 69,778

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Changes in Fair Value of Company's Earn-Out Liability	The following table presents a summary of changes in fair value of the Company's Level 3 earn-out liabilities measured on a recurring basis for the three months ended March 31, 2022: (in thousands) MUSA-Galvanized American Stainless Total Balance December 31, 2021 $ 1,106 $ 855 $ 1,961 Earn-out payments during the period (317) (855) (1,172) Changes in fair value during the period 102 — 102 Balance March 31, 2022 $ 891 $ — $ 891
Schedule of Level 3 Assets and the Valuation Techniques Used to Measure Fair Value	The following table summarizes the significant unobservable inputs in the fair value measurement of our contingent consideration (earn-out) liabilities as of March 31, 2022: Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range Weighted Contingent consideration (earn-out) liabilities $891 Probability Weighted Expected Return Discount rate - 5% Timing of estimated payouts 2022 - Future revenue projections $8.9M $8.9M
Schedule of Assets Held for Sale	The assets classified as held for sale are as follows: (in thousands) March 31, 2022 December 31, 2021 Inventory, net $ 559 $ 617 Property, plant and equipment, net 238 238 Assets held for sale $ 797 $ 855

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The components of inventories are as follows: (in thousands) March 31, 2022 December 31, 2021 Raw materials $ 54,654 $ 48,745 Work-in-process 29,970 25,187 Finished goods 29,280 30,666 113,904 104,598 Less: inventory reserves (1,790) (1,349) Inventories, net $ 112,114 $ 103,249

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consist of the following: (in thousands) March 31, 2022 December 31, 2021 Land $ 723 $ 723 Leasehold improvements 4,641 4,641 Buildings 53 53 Machinery, fixtures and equipment 110,331 110,127 Construction-in-progress 2,803 1,900 118,551 117,444 Less: accumulated depreciation and amortization (75,831) (73,724) Property, plant and equipment, net $ 42,720 $ 43,720 The following table sets forth depreciation expense related to property, plant and equipment: Three Months Ended March 31, (in thousands) 2022 2021 Cost of sales $ 2,054 $ 1,734 Selling, general and administrative 62 83 Total depreciation $ 2,116 $ 1,817

Intangible Assets and Deferre_2

Intangible Assets and Deferred Charges (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets Subject to Amortization	The balance of intangible assets subject to amortization are as follows: (in thousands) March 31, 2022 December 31, 2021 Intangible assets, gross $ 28,876 $ 28,876 Accumulated amortization of intangible assets (15,215) (14,494) Intangible assets, net $ 13,661 $ 14,382
Schedule of Estimated Amortization Expense	Estimated amortization expense related to intangible assets for the next five years are as follows: (in thousands) Remainder of 2022 $ 2,163 2023 1,433 2024 1,336 2025 1,238 2026 1,141 2027 1,044 Thereafter $ 5,306
Schedule of Deferred Charges	The balance of deferred charges subject to amortization are as follows: (in thousands) March 31, 2022 December 31, 2021 Deferred charges, gross $ 398 $ 398 Accumulated amortization of deferred charges (120) (96) Deferred charges, net $ 278 $ 302

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following: (in thousands) March 31, 2022 December 31, 2021 Revolving line of credit, due January 15, 2025 $ 66,432 $ 65,571 Term loan, due January 15, 2025 4,642 4,821 Total long-term debt 71,074 70,392 Less: Current portion of long-term debt (2,464) (2,464) Long-term debt, less current portion $ 68,610 $ 67,928

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Operating and Finance Leases Recorded in Consolidated Balance Sheet	Operating and finance lease amounts included in the unaudited condensed consolidated balance sheet are as follows (in thousands): Classification Financial Statement Line Item March 31, 2022 December 31, 2021 Assets Right-of-use assets, operating leases $ 30,431 $ 30,811 Assets Property, plant and equipment 1,598 1,640 Current liabilities Current portion of lease liabilities, operating leases 1,140 1,104 Current liabilities Current portion of lease liabilities, finance leases 248 233 Non-current liabilities Non-current portion of lease liabilities, operating leases 31,748 32,059 Non-current liabilities Non-current portion of lease liabilities, finance leases 1,362 1,414
Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Lease Terms	Individual components of the total lease cost incurred by the Company are as follows: (in thousands) Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Operating lease cost $ 1,048 $ 1,023 Finance lease cost: Amortization of right-of-use assets 67 9 Interest on finance lease liabilities 9 — Sublease income $ (33) $ — Total lease cost $ 1,091 $ 1,032 Weighted-average remaining lease term March 31, 2022 December 31, 2021 Operating leases 14.21 years 14.43 years Finance leases 6.79 years 7.07 years Weighted-average discount rate Operating leases 8.30 % 8.30 % Finance leases 2.29 % 2.27 %
Schedule of Maturities For Sub Leases After Adoption of 842	Future expected cash receipts from the sublease as of March 31, 2022 are as follows: (in thousands) Sublease Receipts Remainder of 2022 $ 95 2023 129 2024 132 2025 134 2026 137 Thereafter 1,490 Total sublease receipts $ 2,117
Schedule of Maturities For Operating Leases After Adoption of 842	The amounts of undiscounted future minimum lease payments under leases as of March 31, 2022 are as follows: (in thousands) Operating Finance Remainder of 2022 $ 2,548 $ 211 2023 3,818 272 2024 3,658 246 2025 3,677 233 2026 3,683 233 Thereafter 39,866 542 Total undiscounted minimum future lease payments 57,250 1,737 Imputed interest 24,362 127 Present value of lease liabilities $ 32,888 $ 1,610
Schedule of Maturities For Finance Leases After Adoption of 842	The amounts of undiscounted future minimum lease payments under leases as of March 31, 2022 are as follows: (in thousands) Operating Finance Remainder of 2022 $ 2,548 $ 211 2023 3,818 272 2024 3,658 246 2025 3,677 233 2026 3,683 233 Thereafter 39,866 542 Total undiscounted minimum future lease payments 57,250 1,737 Imputed interest 24,362 127 Present value of lease liabilities $ 32,888 $ 1,610

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of the Computation of Basic and Diluted Loss Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, (in thousands, except per share data) 2022 2021 Numerator: Net income $ 10,260 $ 1,094 Denominator: Denominator for basic earnings per share - weighted average shares 10,209 9,191 Effect of dilutive securities: Employee stock options and stock grants 111 97 Denominator for diluted earnings per share - weighted average shares 10,320 9,288 Net income per share: Basic $ 1.00 $ 0.12 Diluted $ 0.99 $ 0.12

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes and Effective Tax Rates	Our income tax provision and overall effective tax rates for the periods presented are as follows: Three Months Ended March 31, (in thousands) 2022 2021 Income tax provision $ 2,589 $ 241 Effective income tax rate 20.2 % 18.1 %

Industry Segments (Tables)

Industry Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Information	The following table summarizes certain information regarding segments of the Company's operations: Three Months Ended March 31, (in thousands) 2022 2021 Net sales Metals Segment $ 88,497 $ 55,213 Specialty Chemicals Segment 27,721 14,565 $ 116,218 $ 69,778 Operating income Metals Segment $ 14,492 $ 2,577 Specialty Chemicals Segment 2,387 1,056 Unallocated corporate expenses 3,029 1,767 Acquisition costs and other 531 — Proxy contest costs and recoveries — (464) Earn-out adjustments 102 225 Operating income 13,217 2,105 Interest expense 403 387 Loss on extinguishment of debt — 223 Change in fair value of interest rate swap — (2) Other, net (35) 162 Income before income taxes $ 12,849 $ 1,335 As of (in thousands) March 31, 2022 December 31, 2021 Identifiable assets Metals Segment $ 177,039 $ 160,625 Specialty Chemicals Segment 80,342 72,908 Corporate 32,252 32,469 $ 289,633 $ 266,002

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Oct. 22, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Acquisition costs and other		$ 531	$ 0
Base Rate | ABL Line Of Credit, Due January 15, 2025 | Revolving Credit Facility | Line of Credit
Business Acquisition [Line Items]
Basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) | ABL Line Of Credit, Due January 15, 2025 | Revolving Credit Facility | Line of Credit
Business Acquisition [Line Items]
Basis spread on variable rate	150.00%
DanChem Technologies, Inc.
Business Acquisition [Line Items]
Purchase price	$ 34,100
Cash Acquired from Acquisition	1,500
Business combination, purchase price funded by drawdown on revolving credit facility	34,500
Acquisition costs and other		$ 300
Intangible assets, net	$ 5,750,000
Weighted average amortization period for intangible assets	15 years
DanChem Technologies, Inc. | Customer Relationships
Business Acquisition [Line Items]
Intangible assets, net	$ 5,100
DanChem Technologies, Inc. | Product Development Know-How
Business Acquisition [Line Items]
Intangible assets, net	500
DanChem Technologies, Inc. | Trade Names
Business Acquisition [Line Items]
Intangible assets, net	$ 200

Acquisitions - Fair Value of As

Acquisitions - Fair Value of Assets Identified and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Oct. 22, 2021
Business Acquisition [Line Items]
Goodwill	$ 12,637	$ 12,637
DanChem Technologies, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents			$ 1,533,000
Accounts receivable, net of allowance for credit losses			5,358,000
Inventories, net			1,561,000
Prepaid expenses and other current assets			454,000
Property, plant and equipment, net			15,697,000
Right of use asset, operating leases, net			208,000
Intangible assets, net			5,750,000
Total identifiable assets acquired			30,561,000
Accounts payable			1,751,000
Accrued expenses and other current liabilities			1,622,000
Current portion of operating lease liabilities			51,000
Current portion of finance lease liabilities			215,000
Deferred income taxes			2,542,000
Long-term portion of operating lease liabilities			157,000
Long-term portion of finance lease liabilities			1,408,000
Total identifiable liabilities assumed			7,746,000
Net identifiable assets acquired			22,815,000
Transaction price			34,097,000
Goodwill			$ 11,282,000

Acquisitions - Schedule of Fina

Acquisitions - Schedule of Financial Information (Details) - DanChem Technologies, Inc. $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Business Acquisition [Line Items]
Net sales	$ 7,474
Operating income	$ 235

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregated Revenues by Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 116,218	$ 69,778
Fiberglass and steel liquid storage tanks and separation equipment
Disaggregation of Revenue [Line Items]
Net sales	114	141
Heavy wall seamless carbon steel pipe and tube
Disaggregation of Revenue [Line Items]
Net sales	12,373	7,818
Stainless steel pipe and tube
Disaggregation of Revenue [Line Items]
Net sales	62,239	39,911
Galvanized pipe and tube
Disaggregation of Revenue [Line Items]
Net sales	13,771	7,343
Specialty chemicals
Disaggregation of Revenue [Line Items]
Net sales	$ 27,721	$ 14,565

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value Disclosures [Abstract]
Unrealized gain (loss) included in OCI	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Changes in Fair Value of Company's Earn-Out Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Earn-out payments during the period	$ 800	$ 1,029
Level 3 Inputs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,961
Earn-out payments during the period	(1,172)
Changes in fair value during the period	102
Ending balance	891
MUSA-Galvanized | Level 3 Inputs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,106
Earn-out payments during the period	(317)
Changes in fair value during the period	102
Ending balance	891
American Stainless | Level 3 Inputs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	855
Earn-out payments during the period	(855)
Changes in fair value during the period	0
Ending balance	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Fair Value Level 3 Assets and Valuation Technique (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Discount rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount rate applied to earn-out payments	0.05
Future revenue projections | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	$ 8,900
Future revenue projections | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	8,900
Level 3 Inputs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability	$ 891

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Assets Held For Sale (Details) - Discontinued Operations, Held-for-sale - Palmer Facility - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory, net	$ 559	$ 617
Property, plant and equipment, net	238	238
Assets held for sale	$ 797	$ 855

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 54,654	$ 48,745
Work-in-process	29,970	25,187
Finished goods	29,280	30,666
Inventory, gross	113,904	104,598
Less: inventory reserves	(1,790)	(1,349)
Inventories, net	$ 112,114	$ 103,249

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 118,551	$ 117,444
Less: accumulated depreciation and amortization	(75,831)	(73,724)
Property, plant and equipment, net	42,720	43,720
Total depreciation	2,116		$ 1,817
Cost of sales
Property, Plant and Equipment [Line Items]
Total depreciation	2,054		1,734
Selling, general and administrative
Property, Plant and Equipment [Line Items]
Total depreciation	62		$ 83
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	723	723
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	4,641	4,641
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	53	53
Machinery, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	110,331	110,127
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 2,803	$ 1,900

Intangible Assets and Deferre_3

Intangible Assets and Deferred Charges - Narrative (Details)	3 Months Ended
	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Deferred charges, amortization period	4 years
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	8 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years

Intangible Assets and Deferre_4

Intangible Assets and Deferred Charges - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, gross	$ 28,876	$ 28,876
Accumulated amortization of intangible assets	(15,215)	(14,494)
Intangible assets, net	$ 13,661	$ 14,382

Intangible Assets and Deferre_5

Intangible Assets and Deferred Charges - Schedule of Estimated Amortization Expense (Details) $ in Thousands	Mar. 31, 2022USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 2,163
2023	1,433
2024	1,336
2025	1,238
2026	1,141
2027	1,044
Thereafter	$ 5,306

Intangible Assets and Deferre_6

Intangible Assets and Deferred Charges - Schedule of Deferred Charges (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Deferred charges, gross	$ 398	$ 398
Accumulated amortization of deferred charges	(120)	(96)
Deferred charges, net	$ 278	$ 302

Long-term Debt - Summary of Deb

Long-term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, less current portion	$ 71,074	$ 70,392
Less: Current portion of long-term debt	(2,464)	(2,464)
Long-term debt	68,610	67,928
Revolving Credit Facility | Revolving line of credit, due January 15, 2025
Debt Instrument [Line Items]
Long-term debt, less current portion	66,432	65,571
Secured Debt | Term loan, due January 15, 2025
Debt Instrument [Line Items]
Long-term debt, less current portion	$ 4,642	$ 4,821

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - Revolving line of credit, due January 15, 2025 - USD ($)	Jan. 15, 2021	Mar. 31, 2022
Line of Credit
Line of Credit Facility [Line Items]
Initial borrowing capacity	$ 110,000,000
Weighted average interest rate		2.14%
Delayed Draw Term Loan
Line of Credit Facility [Line Items]
Initial borrowing capacity	$ 5,000,000
Delayed Draw Term Loan | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread	1.65%
Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, periodic payment	$ 200,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Debt term	4 years
Maximum borrowing capacity	$ 150,000,000
Initial borrowing capacity	$ 105,000,000	$ 10,500,000
Minimum amount of excess availability required to be had		$ 7,500,000
Percentage of minimum amount of excess availability required to be had		10.00%
Remaining borrowing capacity		$ 38,600,000
Revolving Credit Facility | Line of Credit | Base Rate
Line of Credit Facility [Line Items]
Basis spread	0.50%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread	1.50%
Revolving Credit Facility | Machinery and Equipment Sub Limit
Line of Credit Facility [Line Items]
Initial borrowing capacity	$ 17,500,000
Line of credit quarterly payments	$ 400,000

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Leases Recorded in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets, operating leases	$ 30,431	$ 30,811
Finance lease, right of use asset	1,598	1,640
Current portion of lease liabilities, operating leases	1,140	1,104
Current portion of lease liabilities, finance leases	248	233
Non-current portion of lease liabilities, operating leases	31,748	32,059
Non-current portion of lease liabilities, finance leases	$ 1,362	$ 1,414
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Annual base rent		$ 100,000
Percentage annual increase in base rent		2.00%
Security deposit		$ 100,000
Right-of-use asset obtained in exchange for operating lease liability	$ 0

Leases - Schedule of Total Leas

Leases - Schedule of Total Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 1,048	$ 1,023
Finance lease cost:
Amortization of right-of-use assets	67	9
Interest on finance lease liabilities	9	0
Sublease income	(33)	0
Total lease cost	$ 1,091	$ 1,032

Leases - Future Expected Cash R

Leases - Future Expected Cash Receipts From Sublease (Details) $ in Thousands	Mar. 31, 2022USD ($)
Sublease Receipts [Abstract]
Remainder of 2022	$ 95
2023	129
2024	132
2025	134
2026	137
Thereafter	1,490
Total sublease receipts	$ 2,117

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities After Adoption of 842 (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating
Remainder of 2022	$ 2,548
2023	3,818
2024	3,658
2025	3,677
2026	3,683
Thereafter	39,866
Total undiscounted minimum future lease payments	57,250
Imputed interest	24,362
Present value of lease liabilities	32,888
Finance
Remainder of 2022	211
2023	272
2024	246
2025	233
2026	233
Thereafter	542
Total undiscounted minimum future lease payments	1,737
Imputed Interest	127
Present value of lease liabilities	$ 1,610

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term (Details)	Mar. 31, 2022	Dec. 31, 2021
Weighted-average remaining lease term
Operating leases	14 years 2 months 15 days	14 years 5 months 4 days
Finance leases	6 years 9 months 14 days	7 years 25 days
Weighted-average discount rate
Operating leases	8.30%	8.30%
Finance leases	2.29%	2.27%

Shareholders' Equity - Stock Re

Shareholders' Equity - Stock Repurchase Program (Details) - shares	Feb. 17, 2021	Mar. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to be repurchased (in shares)	790,383
Stock repurchase program, number of remaining shares authorized to be repurchased (in shares)		790,383
First Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Period for shares to be repurchased	24 months
Amended Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Period for shares to be repurchased	24 months

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income	$ 10,260	$ 1,094
Denominator:
Denominator for basic earnings per share - weighted average shares (in shares)	10,209	9,191
Employee stock options and stock grants (in shares)	111	97
Denominator for diluted earnings per share - weighted average shares (in shares)	10,320	9,288
Net income per share:
Basic (in dollars per share)	$ 1	$ 0.12
Diluted (in dollars per share)	$ 0.99	$ 0.12
Antidilutive securities excluded from computation of earnings per share, amount (in shares)		200

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision	$ 2,589	$ 241
Effective income tax rate	20.20%	18.10%

Industry Segments - Narrative (

Industry Segments - Narrative (Details)	3 Months Ended
	Mar. 31, 2022reporting_unitsegment
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Metals Segment
Segment Reporting Information [Line Items]
Number of reporting units	3
Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Number of reporting units	1

Industry Segments (Details)

Industry Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 116,218	$ 69,778
Operating income	13,217	2,105
Unallocated corporate expenses	8,646	6,869
Acquisition costs and other	531	0
Proxy contest costs and recoveries	0	(464)
Earn-out adjustments	102	225
Interest expense	403	387
Loss on extinguishment of debt	0	223
Change in fair value of interest rate swap	0	(2)
Other, net	(35)	162
Income before income taxes	12,849	1,335
Identifiable assets	289,633		$ 266,002
Metals Segment
Segment Reporting Information [Line Items]
Net sales	88,497	55,213
Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Net sales	27,721	14,565
Operating segment | Metals Segment
Segment Reporting Information [Line Items]
Operating income	14,492	2,577
Identifiable assets	177,039		160,625
Operating segment | Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Operating income	2,387	1,056
Identifiable assets	80,342		72,908
Corporate
Segment Reporting Information [Line Items]
Unallocated corporate expenses	3,029	$ 1,767
Identifiable assets	$ 32,252		$ 32,469