BUSINESS SEGMENTS

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

Our business is organized into two segments:  NobelClad and DynaEnergetics. The NobelClad segment uses explosives to perform metal cladding and shock synthesis of industrial diamonds. The most significant product of this group is clad metal which is used in the fabrication of pressure vessels, heat exchangers, and transition joints for various industries, including upstream oil and gas, oil refinery, petrochemicals, hydrometallurgy, aluminum production, shipbuilding, power generation, industrial refrigeration, and similar industries.  The DynaEnergetics segment manufactures, markets and sells oilfield perforating equipment and explosives, including detonating cords, detonators, bi-directional boosters and shaped charges, and seismic related explosives and accessories.

Due to the completed sale of AMK in 2014, the operating results of AMK have been classified as discontinued operations in all periods presented. All prior periods segment disclosures have been conformed to the 2015 presentation. Refer to Note 9 "Discontinued Operations" for further details.    

The accounting policies of all of the segments are the same as those described in the summary of significant accounting policies included herein and in our Annual Report on Form 10-K for the year ended December 31, 2014.  Our reportable segments are separately managed strategic business units that offer different products and services. Each segment’s products are marketed to different customer types and require different manufacturing processes and technologies.

Segment information is presented for the three months endedMarch 31, 2015 and 2014 as follows:

	Three months ended March 31,
	2015		2014
Net sales:
NobelClad	$	23,944	$	24,564
DynaEnergetics	16,875		22,205
Consolidated net sales	$	40,819	$	46,769

	Three months ended March 31,
	2015			2014
Income (loss) before income taxes:
NobelClad	$	1,821		$	1,289
DynaEnergetics	(794		)	4,140
Segment operating income	1,027			5,429
Unallocated corporate expenses	(3,016		)	(1,629		)
Stock-based compensation	(1,237		)	(717		)
Other income (expense)	1,124			(435		)
Interest expense	(182		)	(109		)
Interest income	3			5
Income (loss) before income taxes, discontinued operations and non-controlling interest	$	(2,281	)	$	2,544

	Three months ended March 31,
	2015		2014
Depreciation and amortization:
NobelClad	$	1,157	$	1,732
DynaEnergetics	1,515		1,508
Segment depreciation and amortization	$	2,672	$	3,240

During the three months ended March 31, 2015 and 2014, no one customer accounted for more than 10% of total net sales.