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Note 2 - Acquisitions (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
Fair value of considerations transferred |  |  |  |
Cash paid at closing |  | $ | 23,608 |
Other liability |  |  | 457 |
Cash from Contech |  |  | (2,840 | )
Total consideration |  | $ | 21,225 |
Purchase price allocation |  |  |  |
Accounts receivable |  | $ | 2,299 |
Inventory |  |  | 2,410 |
Other current assets |  |  | 213 |
Property, plant, and equipment |  |  | 6,089 |
Customer contracts & relationships |  |  | 2,550 |
Intellectual property |  |  | 2,127 |
Non-compete agreement |  |  | 260 |
Lease right of use assets |  |  | 289 |
Other assets |  |  | 42 |
Goodwill |  |  | 7,358 |
Total identifiable assets |  | $ | 23,637 |
Accounts payable |  |  | (772 | )
Accrued expenses |  |  | (668 | )
Income taxes |  |  | (66 | )
Deferred taxes |  |  | (617 | )
Lease liabilities |  |  | (289 | )
Net assets acquired |  | $ | 21,225 |
Cash paid at closing |  | $ | 95,000 |
Contingent liability (Earn-out) |  |  | 5,188 |
Non-compete agreements |  |  | 8,855 |
Cash from DAS |  |  | (8,316 | )
Working capital adjustment |  |  | (115 | )
Total consideration |  | $ | 100,612 |
Purchase price allocation |  |  |  |
Accounts receivable |  | $ | 2,351 |
Inventory |  |  | 7,570 |
Other current assets |  |  | 68 |
Property, plant, and equipment |  |  | 3,314 |
Customer contracts & relationships |  |  | 36,730 |
Intellectual property |  |  | 2,380 |
Non-compete agreement |  |  | 4,697 |
Lease right of use assets |  |  | 1,221 |
Goodwill |  |  | 51,985 |
Total identifiable assets |  | $ | 110,316 |
Accounts payable |  |  | (5,238 | )
Accrued expenses |  |  | (3,238 | )
Deferred revenue |  |  | (7 | )
Lease liabilities |  |  | (1,221 | )
Net assets acquired |  | $ | 100,612 |
Fair value of considerations transferred |  |  |  |
Cash paid at closing |  | $ | 9,766 |
Contingent liability (Earn-out) |  |  | 4,543 |
Other liability |  |  | 500 |
Cash from Contech |  |  | (266 | )
Total consideration |  | $ | 14,543 |
Purchase price allocation |  |  |  |
Accounts receivable |  | $ | 2,851 |
Inventory |  |  | 2,320 |
Other current assets |  |  | 37 |
Property, plant, and equipment |  |  | 1,170 |
Customer contracts & relationships |  |  | 3,043 |
Intellectual property |  |  | 2,247 |
Non-compete agreement |  |  | 86 |
Lease right of use assets |  |  | 1,523 |
Goodwill |  |  | 4,278 |
Total identifiable assets |  | $ | 17,555 |
Accounts payable |  |  | (1,015 | )
Accrued expenses |  |  | (414 | )
Deferred revenue |  |  | (60 | )
Lease liabilities |  |  | (1,523 | )
Net assets acquired |  | $ | 14,543 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | Three-month Period Ended March 31, |
|  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |
Sales |  | $ | 75,469 |  |  | $ | 53,876 |
Operating income |  | $ | 7,023 |  |  | $ | 5,916 |
Net income |  | $ | 5,346 |  |  | $ | 4,614 |
Earnings per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.71 |  |  | $ | 0.61 |
Diluted |  | $ | 0.70 |  |  | $ | 0.60 |
|  | Three-month Period Ended March 31, 2021 |
|  | (Unaudited) |
Sales |  | $ | 63,862 |
Operating income |  | $ | 6,888 |
Net income |  | $ | 4,739 |
Earnings per share: |  |  |  |
Basic |  | $ | 0.63 |
Diluted |  | $ | 0.62 |

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