| Schedule of assets and profit/loss of the segments |
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2020 |
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2019 |
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2018 |
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Net sales |
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|
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|
|
|
|
|
|
Work Truck Attachments |
$ |
252,838 |
|
$ |
293,630 |
|
$ |
275,244 |
|
Work Truck Solutions |
|
227,316 |
|
|
278,080 |
|
|
248,823 |
|
|
$ |
480,154 |
|
$ |
571,710 |
|
$ |
524,067 |
|
Adjusted EBITDA |
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|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
62,532 |
|
$ |
80,747 |
|
$ |
80,396 |
|
Work Truck Solutions |
|
12,360 |
|
|
27,358 |
|
|
16,047 |
|
|
$ |
74,892 |
|
$ |
108,105 |
|
$ |
96,443 |
|
Depreciation and amortization expense |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
10,824 |
|
$ |
10,217 |
|
$ |
9,609 |
|
Work Truck Solutions |
|
8,913 |
|
|
8,995 |
|
|
9,476 |
|
|
$ |
19,737 |
|
$ |
19,212 |
|
$ |
19,085 |
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Assets |
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|
Work Truck Attachments |
$ |
365,210 |
|
$ |
361,876 |
|
$ |
348,714 |
|
Work Truck Solutions |
|
213,992 |
|
|
343,819 |
|
|
327,479 |
|
|
$ |
579,202 |
|
$ |
705,695 |
|
$ |
676,193 |
|
Capital expenditures |
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|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
13,174 |
|
$ |
9,417 |
|
$ |
6,931 |
|
Work Truck Solutions |
|
1,508 |
|
|
2,246 |
|
|
2,917 |
|
|
$ |
14,682 |
|
$ |
11,663 |
|
$ |
9,848 |
|
|
|
|
|
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Adjusted EBITDA |
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|
|
|
|
|
|
|
Work Truck Attachments |
$ |
62,532 |
|
$ |
80,747 |
|
$ |
80,396 |
Work Truck Solutions |
|
12,360 |
|
|
27,358 |
|
|
16,047 |
Total Adjusted EBITDA |
$ |
74,892 |
|
$ |
108,105 |
|
$ |
96,443 |
Less items to reconcile Adjusted EBITDA to Income (Loss) before taxes: |
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|
|
|
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|
Interest expense - net |
|
20,238 |
|
|
16,782 |
|
|
16,943 |
Depreciation expense |
|
8,806 |
|
|
8,256 |
|
|
7,613 |
Amortization |
|
10,931 |
|
|
10,956 |
|
|
11,472 |
Purchase accounting (1) |
|
(2,017) |
|
|
(417) |
|
|
(900) |
Stock based compensation |
|
2,830 |
|
|
3,239 |
|
|
4,550 |
Impairment charges |
|
127,872 |
|
|
- |
|
|
- |
Debt modification expense |
|
3,542 |
|
|
- |
|
|
- |
Litigation proceeds |
|
- |
|
|
(200) |
|
|
- |
Pension termination |
|
- |
|
|
6,609 |
|
|
- |
COVID-19 (2) |
|
1,391 |
|
|
- |
|
|
- |
Other charges (3) |
|
128 |
|
|
263 |
|
|
1,006 |
Income (Loss) before taxes |
$ |
(98,829) |
|
$ |
62,617 |
|
$ |
55,759 |
|