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Acquisitions (Tables) | 12 Months Ended
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Jun. 30, 2023
Acquisitions [Abstract] |
Schedule of Consideration Fair Value of Net Assets | The computation of the purchase price consideration and the allocation of the consideration to the net assets acquired are presented in the following tables (in thousands):
Purchase price consideration: |  |
Cash consideration, net of cash acquired(a) |  | $ | 3,346 |
Stock consideration(b) |  |  | 3,840 |
Total purchase price consideration, net of cash acquired |  | $ | 7,186 |
(a) Includes $4.5 million paid net of $1.2 million of cash acquired. (b) Calculated as 179,087 shares of the Company’s common stock, multiplied by $21.44, the closing price of the Company’s common stock on the closing date.
Allocation of purchase price consideration: |  |
Accounts receivable |  | $ | 1,322 |
Inventories |  |  | 2,074 |
Vendor Deposits |  |  | 170 |
Other assets |  |  | 779 |
Equipment and improvements |  |  | 841 |
Intangible assets |  |  | 1,700 |
Accounts payable and accrued expenses |  |  | (948 | )
Accrued employee expenses |  |  | (62 | )
Customer deposits |  |  | (689 | )
Deferred tax liabilities |  |  | (622 | )
Total identifiable net assets |  |  | 4,565 |
Goodwill |  |  | 2,621 |
Total |  | $ | 7,186 |
Purchase price consideration: |  |  |
Cash consideration |  | $ | 5,366 |
Total purchase price consideration |  | $ | 5,366 |
Allocation of purchase price consideration: |  |  |
Accounts receivable |  | $ | 920 |
Inventories |  |  | 1,232 |
Other assets |  |  | 161 |
Equipment and improvements |  |  | 770 |
Intangible assets |  |  | 1,580 |
Accounts payable and accrued expenses |  |  | (1,357 | )
Accrued employee expenses |  |  | (72 | )
Customer deposits |  |  | (336 | )
Total identifiable net assets |  |  | 2,898 |
Goodwill |  |  | 2,468 |
Total |  | $ | 5,366 |
Schedule of Unaudited Supplemental Pro Forma Information of Operations | These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the transactions had occurred on the date assumed, nor are they indicative of future results of operations.
|  | For the year ended June 30,
(in thousands) |  | 2023 (Unaudited) |  | 2022 (Unaudited)
Revenues |  | $ | 357,353 |  |  | $ | 299,321 |
Net income |  |  | 10,074 |  |  |  | 6,850 |

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- Definition Tabular disclosure of financial highlights. Includes, but is not limited to, per share information, income and expense ratios, total return, capital commitment and fee waiver. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480737/946-205-50-1 + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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