Schedule of Segment Information |
Segment information is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | Net sales: | | | | | | | | Arcadia Products | $ | 69,748 | | | $ | 79,158 | | | $ | 131,673 | | | $ | 159,496 | | DynaEnergetics | 76,210 | | | 84,754 | | | 154,332 | | | 166,722 | | NobelClad | 25,221 | | | 24,752 | | | 52,043 | | | 46,787 | | Net sales | $ | 171,179 | | | $ | 188,664 | | | $ | 338,048 | | | $ | 373,005 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | Income before income taxes: | | | | | | | | Arcadia Products | $ | 5,719 | | | $ | 9,580 | | | $ | 5,131 | | | $ | 12,713 | | DynaEnergetics | 7,052 | | | 17,733 | | | 15,894 | | | 30,901 | | NobelClad | 4,932 | | | 4,707 | | | 10,032 | | | 7,328 | | Segment operating income | 17,703 | | | 32,020 | | | 31,057 | | | 50,942 | | | | | | | | | | Unallocated corporate expenses | (4,623) | | | (3,647) | | | (10,154) | | | (10,901) | | Unallocated stock-based compensation* | (1,395) | | | (1,376) | | | (2,530) | | | (5,824) | | Other expense, net | (284) | | | (439) | | | (693) | | | (639) | | Interest expense, net | (2,316) | | | (2,432) | | | (4,633) | | | (4,813) | | Income before income taxes | $ | 9,085 | | | $ | 24,126 | | | $ | 13,047 | | | $ | 28,765 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | Depreciation and amortization: | | | | | | | | Arcadia Products | $ | 6,166 | | | $ | 6,541 | | | $ | 12,318 | | | $ | 13,010 | | DynaEnergetics | 1,700 | | | 1,728 | | | 3,397 | | | 3,515 | | NobelClad | 790 | | | 700 | | | 1,570 | | | 1,440 | | Segment depreciation and amortization | 8,656 | | | 8,969 | | | 17,285 | | | 17,965 | | Corporate and other | 82 | | | 132 | | | 164 | | | 203 | | Consolidated depreciation and amortization | $ | 8,738 | | | $ | 9,101 | | | $ | 17,449 | | | $ | 18,168 | |
* Stock-based compensation is not allocated to wholly owned segments DynaEnergetics and NobelClad. Stock-based compensation is allocated to the Arcadia Products segment as 60% of such expense is attributable to the Company, whereas the remaining 40% is attributable to the redeemable noncontrolling interest holder.
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Schedule of Net Sales Based on the Geographic Location of the Customer |
Arcadia Products | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | West | $ | 57,386 | | | $ | 62,975 | | | $ | 108,151 | | | 125,257 | | South | 7,697 | | | 6,839 | | | 13,311 | | | 15,392 | | Northeast | 2,568 | | | 7,137 | | | 5,385 | | | 13,990 | | Midwest | 2,097 | | | 2,207 | | | 4,826 | | | 4,857 | | Total Arcadia Products | $ | 69,748 | | | $ | 79,158 | | | $ | 131,673 | | | $ | 159,496 | |
DynaEnergetics | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | United States | $ | 56,922 | | | $ | 67,716 | | | $ | 116,992 | | | $ | 132,365 | | Canada | 6,680 | | | 5,868 | | | 13,111 | | | 12,908 | | India | 3,201 | | | 953 | | | 6,143 | | | 1,576 | | | | | | | | | | Oman | 2,442 | | | 1,387 | | | 4,511 | | | 3,134 | | Kuwait | 1,466 | | | 793 | | | 2,452 | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Indonesia | 1,087 | | | 984 | | | 1,442 | | | 1,688 | | Rest of the world(1) | 4,412 | | | 7,053 | | | 9,681 | | | 12,901 | | Total DynaEnergetics | $ | 76,210 | | | $ | 84,754 | | | $ | 154,332 | | | $ | 166,722 | |
(1) Rest of the world does not include any individual country comprising sales greater than 5% of total DynaEnergetics revenue for the periods presented. NobelClad | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | United States | $ | 14,627 | | | $ | 11,245 | | | $ | 26,988 | | | $ | 20,364 | | Canada | 2,037 | | | 1,859 | | | 7,472 | | | 3,714 | | Netherlands | 938 | | | 409 | | | 1,809 | | | 762 | | France | 835 | | | 522 | | | 1,699 | | | 1,080 | | Germany | 830 | | | 1,543 | | | 1,865 | | | 2,814 | | Australia | 825 | | | 144 | | | 855 | | | 143 | | United Arab Emirates | 599 | | | 806 | | | 1,155 | | | 2,666 | | South Africa | 522 | | | 723 | | | 1,316 | | | 1,153 | | Saudi Arabia | 447 | | | 1,747 | | | 613 | | | 1,998 | | | | | | | | | | South Korea | 432 | | | 302 | | | 524 | | | 602 | | Italy | 279 | | | 291 | | | 880 | | | 962 | | | | | | | | | | | | | | | | | | Belgium | 272 | | | 1,008 | | | 385 | | | 1,474 | | China | 60 | | | 861 | | | 1,289 | | | 3,067 | | | | | | | | | | Brazil | — | | | 1,746 | | | — | | | 1,746 | | Rest of the world (1) | 2,518 | | | 1,546 | | | 5,193 | | | 4,242 | | Total NobelClad | $ | 25,221 | | | $ | 24,752 | | | $ | 52,043 | | | $ | 46,787 | |
(1) Rest of the world does not include any individual country comprising sales greater than 5% of total NobelClad revenue for the periods presented.
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