DIVESTITURES	12 Months Ended
Dec. 31, 2024
DIVESTITURES
DIVESTITURES	NOTE 5—DIVESTITURES On October 1, 2024, the Company completed the sale of its Automation business line to UST Global Inc for $27 million in an all-cash transaction, of which $20 million was paid in cash at closing and $7 million was placed in escrow, with $4 million of the escrowed amount being released within 90 days of closing of the transaction based upon receipt of a consent, delivery of a notice, or the entering into a spin-off agreement with a list of clients whose contracts require one of the foregoing actions. The remaining $3 million of the escrowed amount will be released following the end of the quarter ending March 31, 2025, based upon achievement of certain revenue targets by the divested Automation business for the period from October 1, 2024 to March 31, 2025. Upon the achievement of certain contractual requirements, for the year ended December 31, 2024 the company received an additional $2.1 million in cash and recorded a receivable of $1.9 million related to the escrowed amounts. The $1.9 million receivable is recorded in Prepaid expenses and other current assets on the Consolidated Balance sheet as of December 31, 2024 and was subsequently collected in the first quarter of 2025. The gain on sale of $4.5 million was recognized in Gain on the sale of business and $2.9 million of disposition expenses was recognized in Selling, general and administrative within the Consolidated Statement of Income and Comprehensive Income for the year ended December 31, 2024. The Company did not report the sale in discontinued operations as it was not a strategic shift that would have a major effect on the Company’s operations and financial results.

DIVESTITURES

12 Months Ended

Dec. 31, 2024

NOTE 5—DIVESTITURES

On October 1, 2024, the Company completed the sale of its Automation business line to UST Global Inc for $27 million in an all-cash transaction, of which $20 million was paid in cash at closing and $7 million was placed in escrow, with $4 million of the escrowed amount being released within 90 days of closing of the transaction based upon receipt of a consent, delivery of a notice, or the entering into a spin-off agreement with a list of clients whose contracts require one of the foregoing actions. The remaining $3 million of the escrowed amount will be released following the end of the quarter ending March 31, 2025, based upon achievement of certain revenue targets by the divested Automation business for the period from October 1, 2024 to March 31, 2025. Upon the achievement of certain contractual requirements, for the year ended December 31, 2024 the company received an additional $2.1 million in cash and recorded a receivable of $1.9 million related to the escrowed amounts. The $1.9 million receivable is recorded in Prepaid expenses and other current assets on the Consolidated Balance sheet as of December 31, 2024 and was subsequently collected in the first quarter of 2025. The gain on sale of $4.5 million was recognized in Gain on the sale of business and $2.9 million of disposition expenses was recognized in Selling, general and administrative within the Consolidated Statement of Income and Comprehensive Income for the year ended December 31, 2024. The Company did not report the sale in discontinued operations as it was not a strategic shift that would have a major effect on the Company’s operations and financial results.