Note E - Segment Information

6 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE E — SEGMENT INFORMATION (in thousands)

	Three Months Ended September 30,						Six Months Ended September 30,
	2015			2014			2015			2014
Net sales
Coil	$	18,288		$	21,275		$	37,635		$	39,182
Tubular		4,878			10,269			9,499			20,267
Total net sales	$	23,166		$	31,544		$	47,134		$	59,449
Operating profit (loss)
Coil	$	885		$	410		$	3,040		$	6
Tubular		(710	)		1,325			(1,347	)		2,097
Total operating profit		175			1,735			1,693			2,103
Corporate expenses		480			611			1,210			1,072
Interest & other income		(17	)		(15	)		(35	)		(31	)
Total earnings (loss) before taxes	$	(288	)	$	1,139		$	518		$	1,062

	September 30, 2015		March 31, 2015
Segment assets
Coil	$	24,657	$	21,249
Tubular		39,291		42,144
		63,948		63,393
Corporate assets		3,034		3,565
	$	66,982	$	66,958

Corporate expenses reflect general and administrative expenses not directly associated with segment operations and consist primarily of corporate executive and accounting salaries, professional fees and services, bad debts, accrued profit sharing expense, corporate insurance expenses and office supplies. Corporate assets consist primarily of cash and the cash value of officers’ life insurance.