Note J - Segment Information

6 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE J — SEGMENT INFORMATION (in thousands)

	THREE MONTHS ENDED						SIX MONTHS ENDED
	SEPTEMBER 30,						SEPTEMBER 30,
	2020			2019			2020			2019
Net sales
Coil	$	18,456		$	28,421		$	33,889		$	56,602
Tubular		6,406			11,575			14,497			24,369
Total net sales	$	24,862		$	39,996		$	48,386		$	80,971
Operating profit (loss)
Coil	$	751		$	324		$	291		$	668
Tubular		(344	)		(1,746	)		(285	)		(1,201	)
Total operating profit (loss)		407			(1,422	)		6			(533	)
Corporate expenses		718			614			1,452			1,241
Interest expense		6			—			12			—
Interest and other income		(4	)		(4	)		(9	)		(11	)
Total earnings (loss) before taxes	$	(313	)	$	(2,032	)	$	(1,449	)	$	(1,763	)

	September 30, 2020		March 31, 2020
Segment assets
Coil	$	33,689	$	35,895
Tubular		19,656		23,659
		53,345		59,554
Corporate assets		19,703		17,790
	$	73,048	$	77,344

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, restricted stock plan compensation expense and office supplies. Corporate assets consist primarily of cash, the cash value of officers' life insurance and income taxes recoverable.