Note J - Segment Information

9 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE J — SEGMENT INFORMATION (in thousands)

	Three Months Ended December   31,						Nine Months Ended December 31,
	2020			2019			2020			2019
Net sales
Coil	$	21,672		$	21,001		$	55,561		$	77,604
Tubular		6,830			7,150			21,327			31,518
Total net sales	$	28,502		$	28,151		$	76,888		$	109,122
Operating profit (loss)
Coil	$	3,238		$	(93	)	$	3,529		$	575
Tubular		269			(468	)		(16	)		(1,670	)
Total operating profit (loss)		3,507			(561	)		3,513			(1,095	)
Corporate expenses		736			587			2,188			1,826
Interest expenses		6			2			18			2
Interest and other income		(4	)		(4	)		(13	)		(15	)
Total earnings (loss) before taxes	$	2,769		$	(1,146	)	$	1,320		$	(2,908	)

	December 31, 2020		March 31, 2020
Segment assets
Coil	$	43,880	$	35,895
Tubular		17,563		23,659
		61,443		59,554
Corporate assets		17,926		17,790
	$	79,369	$	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 and the cash value of officers' life insurance.