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Acquisition (Tables) | 3 Months Ended
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Jun. 30, 2022
Business Combinations [Abstract] |
Schedule of Final Purchase Price Allocation, After Adjustments of the Assets Acquired and Liabilities Assumed | The following table summarizes the final purchase price allocation, after adjustments were recorded in the measurement period, of the assets acquired and liabilities assumed:
|  | June 1 |
|  | 2021 |
Assets acquired: |  |  |
Cash and cash equivalents |  | $ | 868 |
Accounts receivable, net of allowances |  |  | 8,074 |
Unbilled revenue |  |  | 7,068 |
Inventories |  |  | 3,549 |
Prepaid expenses and other current assets |  |  | 476 |
Property, plant & equipment, net |  |  | 8,037 |
Operating lease assets |  |  | 9,026 |
Goodwill |  |  | 23,523 |
Customer relationships |  |  | 11,800 |
Technology and technical know-how |  |  | 10,100 |
Other intangibles, net |  |  | 10,600 |
Total assets acquired |  |  | 93,121 |
Liabilities assumed: |  |  |
Accounts payable |  |  | 1,842 |
Accrued compensation |  |  | 1,341 |
Accrued expenses and other current liabilities |  |  | 707 |
Customer deposits |  |  | 6,048 |
Operating lease liabilities |  |  | 9,066 |
Other long-term liabilities |  |  | 2,103 |
Total liabilities assumed |  |  | 21,107 |
Purchase price |  | $ | 72,014 |
Schedule of Purchase Price Allocated to Intangible Assets | The purchase price was allocated to specific intangible assets as follows:
| Weighted Average Amortization Period |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
At June 30, 2022 |  |  |  |  |  |  |  |  |  |
Intangibles subject to amortization: |  |  |  |  |  |  |  |  |  |
Customer relationships | 20 years |  | $ | 11,800 |  |  | $ | 639 |  |  | $ | 11,161 |
Technology and technical know-how | 20 years |  |  | 10,100 |  |  | 547 |  |  |  | 9,553 |
Backlog | 4 years |  |  | 3,900 |  |  |  | 1,955 |  |  |  | 1,945 |
|  |  | $ | 25,800 |  |  | $ | 3,141 |  |  | $ | 22,659 |
Intangibles not subject to amortization: |  |  |  |  |  |  |  |  |  |
Tradename | Indefinite |  | $ | 6,700 |  |  | $ | — |  |  | $ | 6,700 |
|  |  | $ | 6,700 |  |  | $ | — |  |  | $ | 6,700 |
Schedule of Estimated Annual Amortization Expense | The estimated annual amortization expense is as follows:
|  | Annual Amortization |
Remainder of 2023 |  | $ | 1,857 |
2024 |  |  | 1,782 |
2025 |  |  | 1,318 |
2026 |  |  | 1,095 |
2027 |  |  | 1,095 |
2028 and thereafter |  |  | 15,512 |
Total intangible amortization |  | $ | 22,659 |
Schedule of Unaudited Pro Forma Information | The Condensed Consolidated Statement of Operations for the three months ended June 30, 2021 included net sales from BN of $3,471. The following unaudited pro forma information presents the consolidated results of operations of the Company as if the BN acquisition had occurred at the beginning of the fiscal period presented:
|  | Three Months Ended |  |
|  | June 30, 2021 |  |
Net sales |  | $ | 35,633 |  |
Net (loss) income |  |  | (2,025 | ) |
(Loss) earnings per share |  |  |  |
Basic |  | $ | (0.19 | ) |
Diluted |  | $ | (0.19 | ) |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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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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