Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company's operating segments, Lawson and Bolt, also represent its reportable segments because of differences in the businesses' financial characteristics and the methods they employ to deliver product to customers. The results of the Company's operating segments are reviewed by the Company’s chief operating decision maker responsible for reviewing operating performance and allocating resources. The Lawson segment primarily relies on its large network of sales representatives to visit the customer at the customers' location and produce sales orders for product that is then shipped to the customer and it also provides VMI services. The Bolt segment primarily sells product to customers when the customers visit one of Bolt's 14 branch locations and the product is delivered to the customers at the point of sale. The Bolt segment total assets include the value of the acquired intangibles and the related amortization within its operating income.

Financial information for the Company's reportable segments follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Revenue
Lawson	$	93,686	$	79,806	$	281,877	$	224,511
Bolt Supply	11,884		10,471		33,789		28,947
Consolidated total	$	105,570	$	90,277	$	315,666	$	253,458
Gross profit
Lawson	$	51,127	$	43,038	$	151,436	$	123,031
Bolt Supply	4,919		4,187		13,790		11,428
Consolidated total	$	56,046	$	47,225	$	165,226	$	134,459
Operating income
Lawson	$	3,488	$	1,112	$	10,188	$	19,003
Bolt Supply	1,132		889		2,624		2,205
Consolidated total	4,620		2,001		12,812		21,208
Interest expense	(119)		(142)		(710)		(329)
Other income (expense), net	(209)		615		802		15
Income before income taxes	$	4,292	$	2,474	$	12,904	$	20,894