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ACQUISITION (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The total purchase price of $21.9 million has been allocated as follows:
(in thousands) |  | March 12, 2024
Goodwill |  | $ | 9,883 |
Identifiable intangible assets |  | 13,332 |
Tangible assets acquired and liabilities assumed: |  |
Cash |  | 1,088 |
Trade accounts receivable |  | 6,061 |
Inventories |  | 13,117 |
Other current assets |  | 1,468 |
Property and equipment |  | 1,739 |
Other assets |  | 1,755 |
Accounts payable |  | (4,669) |
Accrued expenses and other current liabilities |  | (5,221) |
Deferred tax liability |  | (2,326) |
Debt (current and long-term) |  | (11,274) |
Other non-current liabilities |  | (3,052) |
Total purchase price |  | $ | 21,901 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the estimated fair value of Alfamation™’s identifiable intangible assets and their estimated useful lives as of the acquisition date:
|  | Fair Value |  | Weighted Average Estimated Useful Life
(in thousands except lives) |  |  |  | (in years)
Finite-lived intangible assets: |  |  |  |
Customer relationships |  | $ | 8,196 |  |  | 20.0
Technology |  | 3,169 |  |  | 10.0
Total finite-lived intangible assets |  | 11,365 |  |  |
Indefinite-lived intangible assets: |  |  |  |
Trade name |  | 1,967 |  |  |
Total intangible assets |  | $ | 13,332 |  |  |
Business Acquisition, Pro Forma Information | These proforma summaries are presented for informational purposes only and are not necessarily indicative of what the actual results of operations would have been had the acquisition taken place as of that date, nor are they indicative of future consolidated results of operations:
|  | Three Months Ended March 31,
(in thousands except per share data) |  | 2025 |  | 2024
Revenue |  | $ | 26,637 |  |  | $ | 34,752 |
Net (loss) earnings |  | (2,329) |  |  | 480 |
Diluted (loss) earnings per share |  | $ | (0.19) |  |  | $ | 0.04 |

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- Definition 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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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 -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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