Segments (Table)

9 Months Ended

Sep. 30, 2020

Segments

Schedule of assets and profit/loss of the segments

	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
		2020		2019		2020		2019
Net sales
Work Truck Attachments	$	76,903	$	75,632	$	169,853	$	213,693
Work Truck Solutions		56,858		66,237		152,141		197,719
	$	133,761	$	141,869	$	321,994	$	411,412
Adjusted EBITDA
Work Truck Attachments	$	20,155	$	18,673	$	38,527	$	59,423
Work Truck Solutions		2,917		6,393		3,162		18,772
	$	23,072	$	25,066	$	41,689	$	78,195
Depreciation and amortization expense
Work Truck Attachments	$	2,683	$	2,524	$	7,994	$	7,579
Work Truck Solutions		2,224		2,204		6,710		6,756
	$	4,907	$	4,728	$	14,704	$	14,335
Assets
Work Truck Attachments	$	396,793	$	406,746
Work Truck Solutions		214,471		360,163
	$	611,264	$	766,909
Capital Expenditures
Work Truck Attachments	$	4,850	$	1,955	$	9,105	$	6,209
Work Truck Solutions		375		404		1,110		1,478
	$	5,225	$	2,359	$	10,215	$	7,687

Schedule of Reconciliation of Operating Profit (Loss)

Adjusted EBITDA
Work Truck Attachments	$	20,155	$	18,673	$	38,527	$	59,423
Work Truck Solutions		2,917		6,393		3,162		18,772
Total Adjusted EBITDA	$	23,072	$	25,066	$	41,689	$	78,195
Less items to reconcile Adjusted EBITDA to Income (Loss) before taxes:
Interest expense - net		5,007		4,271		15,709		12,610
Depreciation expense		2,170		1,991		6,490		6,118
Amortization		2,737		2,737		8,214		8,217
Purchase accounting (1)		-		-		(2,017)		(217)
Stock based compensation		199		525		2,768		3,061
Impairment charges		-		-		127,872		-
Debt modification expense		237		-		3,429		-
COVID-19 (2)		157		-		1,322		-
Other charges (3)		101		-		101		(149)
Income (loss) before taxes	$	12,464	$	15,542	$	(122,199)	$	48,555

(1) Reflects $2,000 reversal of earn-out compensation acquired in conjunction with the acquisition of Dejana in the periods presented. Reflects $17 and $217 reversal of earn-out compensation in conjunction with the acquisition of Henderson in the nine months ended September 30, 2020 and 2019, respectively.

(2) Reflects incremental costs incurred related to the COVID-19 pandemic for the periods presented.

(3) Reflects unrelated legal and consulting fees for the periods presented.