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v3.22.2.2

Note 2 - Acquisitions and Divestiture (Tables) | 9 Months Ended
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Sep. 30, 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 |  |  | 395 |
Cash from Advant |  |  | (2,840 | )
Total consideration |  | $ | 21,163 |
Purchase price allocation |  |  |  |
Accounts receivable |  | $ | 2,299 |
Inventory |  |  | 2,410 |
Other current assets |  |  | 213 |
Property, plant, and equipment |  |  | 5,704 |
Customer contracts & relationships |  |  | 2,925 |
Intellectual property |  |  | 2,127 |
Non-compete agreement |  |  | 259 |
Lease right of use assets |  |  | 289 |
Other assets |  |  | 41 |
Goodwill |  |  | 7,140 |
Total identifiable assets |  | $ | 23,407 |
Accounts payable |  |  | (772 | )
Accrued expenses |  |  | (668 | )
Income taxes |  |  | (66 | )
Deferred taxes |  |  | (449 | )
Lease liabilities |  |  | (289 | )
Net assets acquired |  | $ | 21,163 |
Fair value of considerations transferred |  |  |  |
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 Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |
Sales |  | $ | 56,194 |  |  | $ | 266,782 |  |  | $ | 166,273 |
Operating Income |  | $ | 5,440 |  |  | $ | 45,268 |  |  | $ | 18,187 |
Net Income |  | $ | 4,018 |  |  | $ | 33,881 |  |  | $ | 13,796 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.53 |  |  | $ | 4.48 |  |  | $ | 1.83 |
Diluted |  | $ | 0.53 |  |  | $ | 4.44 |  |  | $ | 1.82 |
|  | Three-month Period Ended September 30, 2021 |  |  | Nine-month Period Ended September 30, 2021 |
|  | (Unaudited) |  |  | (Unaudited) |
Sales |  | $ | 69,055 |  |  | $ | 201,660 |
Operating income |  | $ | 7,627 |  |  | $ | 23,030 |
Net income |  | $ | 5,707 |  |  | $ | 18,526 |
Earnings per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.76 |  |  | $ | 2.46 |
Diluted |  | $ | 0.75 |  |  | $ | 2.44 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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