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Acquisition (Tables)

12 Months Ended

Dec. 31, 2023

Acquisitions

Summary of proforma consolidated statement of operations as if SPEC/KWJ and Calman had been included in our consolidated results

​

​	​	​	​	​	​	​
​	​	Pro Forma
​		Year Ended December 31,
​	​	2023		​	2022
​	​	(in thousands)
Revenue	​	$	14,705	​	$	14,708
Net income	​	$	157	​	$	2,835

​

SPEC/KWJ

Acquisitions

Summary of estimated fair values of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date, giving effect to the post-closing purchase price adjustment (in thousands).

​	​	​	​
​	​	​	​
Cash		$	541
Accounts receivable		​	306
Inventories		​	952
Prepaid expenses and other current assets		​	52
Property and equipment	​	​	50
Deposits		​	16
Accounts payable and accrued liabilities		​	(415)
Net identifiable tangible assets acquired		​	1,502
Developed technology		​	134
Customer relationships	​	​	96
Tradenames and trademarks	​	​	47
In-process research and development	​	​	29
Non-compete agreements	​	​	26
Order backlog	​	​	22
Goodwill	​	​	246
Net assets acquired		$	2,102

Calman

Acquisitions

Summary of estimated fair values of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands).

​	​	​	​
Cash		$	1,577
Accounts receivable	​		656
Inventories	​		622
Prepaid expenses and other current assets	​		12
Property, plant, and equipment	​		146
Right-of-use assets	​		91
Accounts payable and accrued liabilities	​		(615)
Lease liabilities	​		(91)
Net identifiable tangible assets acquired	​		2,398
Developed technology	​		381
Tradenames and trademarks	​		214
Customer relationships	​		1,260
Non-compete agreements	​		843

Deferred tax liabilities	​		(710)
Goodwill	​		2,064
Net assets acquired	​	$	6,450

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+ References

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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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.

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