Note E - Segment Information

9 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE E — SEGMENT INFORMATION (in thousands)

	Three Months Ended December 31,						Nine Months Ended December 31,
	2016			2015			2016			2015
Net sales
Coil	$	13,495		$	15,203		$	47,945		$	52,838
Tubular		2,494			3,345			8,755			12,845
Total net sales	$	15,989		$	18,548		$	56,700		$	65,683
Operating profit (loss)
Coil	$	538		$	1,817		$	(858	)	$	4,858
Tubular		(437	)		(977	)		(1,360	)		(2,324	)
Total operating profit (loss)		101			840			(2,218	)		2,534
Corporate expenses		487			473			1,475			1,683
Interest & other income		(15	)		(329	)		(44	)		(363	)
Total earnings (loss) before taxes	$	(371	)	$	696		$	(3,649	)	$	1,214

	December 31, 2016		March 31, 2016
Segment assets
Coil	$	17,545	$	25,317
Tubular		37,537		37,543
		55,082		62,860
Corporate assets		8,498		4,030
	$	63,580	$	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.