The COVID-19 pandemic's adverse impact on the global economy has persisted through the beginning of 2022. The supply chain constraints, increasing raw material costs, and limited labor availability have continued to hinder the results of our operations, cash flows, and financial position. While the COVID-19 pandemics effects on the global economy are not expected to be permanent, the duration of the lingering consequences cannot be accurately estimated.

Comparison of Results of Operations for the Three Months Ended March 31, 2022 and March 31, 2021

Selling, General and Administrative Expenses

(dollars in thousands) Selling, general, and administrative expenses, excluding depreciation and amortization expenses

Selling, general, and administrative expenses as a percentage of net sales

Net loss for the three months ended March 31, 2022 was $0.6 million compared to a net loss of $1.1 million for the three months ended March 31, 2021.

The following table presents cash flow data for the periods presented:

Cash provided by or used in investing activities consists principally of purchase and sale of property, plant and equipment.

Critical Accounting Policies and Estimates

Refer to Note 2 to the condensed consolidated financial statements in Part I Item 1 of this Quarterly Report on Form 10-Q.

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