Note E - Segment Information

6 Months Ended

Sep. 30, 2016

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,
	2016			2015			2016			2015
Net sales
Coil	$	15,451		$	18,288		$	34,450		$	37,635
Tubular		2,867			4,878			6,261			9,499
Total net sales	$	18,318		$	23,166		$	40,711		$	47,134
Operating profit (loss)
Coil	$	118		$	885		$	(1,396	)	$	3,040
Tubular		(649	)		(710	)		(923	)		(1,347	)
Total operating profit (loss)		(531	)		175			(2,319	)		1,693
Corporate expenses		431			480			988			1,210
Interest & other income		(15	)		(17	)		(29	)		(35	)
Total earnings (loss) before taxes	$	(947	)	$	(288	)	$	(3,278	)	$	518

	September 30, 2016		March 31, 2016
Segment assets
Coil	$	19,208	$	25,317
Tubular		35,896		37,543
		55,104		62,860
Corporate assets		9,559		4,030
	$	64,663	$	66,890

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, retirement plan contribution expense, corporate insurance expenses and office supplies. Corporate assets consist primarily of cash, the cash value of officers’ life insurance, deferred taxes and federal income taxes recoverable.