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Acquisition (Tables)
 6 Months Ended
Jul. 31, 2025
Business Combination [Line Items]  
Schedule of Fair Value of the Consideration Transferred as of the Acquisition Closing Date

A summary of the fair value of the consideration transferred as of the acquisition closing date is presented in the table below:

(In thousands)

 

Preliminary Estimate

 

 

Measurement Period Adjustment

 

 

Final

 

Cash Paid at Closing

 

$

18,732

 

 

$

(1

)

 

$

18,731

 

Holdback Amount

 

 

742

 

 

 

—

 

 

 

742

 

Fair Value of the Earnout

 

 

1,619

 

 

 

(1,619

)

 

 

—

 

Total Purchase Price

 

$

21,093

 

 

$

(1,620

)

 

$

19,473

 
MTEX New Solutions, S.A. [Member]  
Business Combination [Line Items]  
Summary of Purchase Price of Acquisition Allocated on Basis of Fair Value

The following table sets forth the final purchase price allocation of the MTEX acquisition for the estimated fair value of the net assets acquired and liabilities assumed as of May 6, 2024:

 

(In thousands)

 

Preliminary Estimate

 

 

Measurement Period Adjustment

 

 

Final Purchase Price Allocation

 

Cash

 

$

364

 

 

$

—

 

 

$

364

 

Accounts Receivable

 

 

3,989

 

 

 

(2,777

)

 

 

1,212

 

Inventory

 

 

3,807

 

 

 

(200

)

 

 

3,607

 

Prepaid Expenses and Other Current Assets

 

 

301

 

 

 

—

 

 

 

301

 

Property, Plant and Equipment

 

 

4,802

 

 

 

—

 

 

 

4,802

 

Other Long-Term Assets

 

 

5,154

 

 

 

1,054

 

 

 

6,208

 

Identifiable Intangible Assets

 

 

9,556

 

 

 

(2,017

)

 

 

7,539

 

Goodwill

 

 

10,629

 

 

 

3,650

 

 

 

14,279

 

Accounts Payable and Other Current Liabilities

 

 

(4,225

)

 

 

(1,870

)

 

 

(6,095

)

Debt Assumed

 

 

(7,918

)

 

 

—

 

 

 

(7,918

)

Other Long-Term Liabilities

 

 

(5,366

)

 

 

540

 

 

 

(4,826

)

Total Purchase Price

 

$

21,093

 

 

$

(1,620

)

 

$

19,473

 
Summary of Fair Value of the Acquired Identifiable Intangible Assets and Related Estimated Useful Lives

The following table reflects the preliminary fair value of the acquired identifiable intangible assets and related estimated useful lives:

(In thousands)

 

Fair
Value

 

 

Measurement Period Adjustment

 

 

Final Fair Value

 

 

Useful Life
(years)

 

Customer Relations

 

$

8,786

 

 

$

(6,183

)

 

$

2,603

 

 

 

10

 

Internally Developed Technology

 

 

488

 

 

 

4,231

 

 

 

4,719

 

 

 

6

 

Trademarks/Tradenames

 

 

282

 

 

 

(65

)

 

 

217

 

 

 

3

 

Total

 

$

9,556

 

 

$

(2,017

)

 

$

7,539

 

 

 

 
Summary of Revenue and Earnings Before Taxes

The amounts of revenue and earnings before taxes attributable to MTEX and included in our consolidated statements of income for the three and six months ended July 31, 2025 and August 3, 2024 were as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

(In thousands)

 

July 31, 2025

 

 

August 3, 2024

 

 

July 31, 2025

 

 

August 3, 2024

 

Revenue

 

$

711

 

(1)

$

1,139

 

 

$

2,114

 

(2)

$

1,139

 

Gross Profit

 

 

(522

)

 

 

(68

)

 

 

(403

)

 

 

(68

)

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

   Selling Expenses

 

 

830

 

 

 

915

 

 

 

1,459

 

 

 

915

 

    Research and Development Expenses

 

 

347

 

 

 

(98

)

 

 

518

 

 

 

(98

)

   General and Administrative Expenses

 

 

180

 

 

 

510

 

 

 

416

 

 

 

510

 

      Total Operating Expenses

 

$

1,357

 

 

$

1,327

 

 

$

2,393

 

 

$

1,327

 

Operating Loss

 

 

(1,879

)

 

 

(1,395

)

 

 

(2,796

)

 

 

(1,395

)

 Other Income (Expenses)

 

 

1,832

 

 

 

(69

)

 

 

1,693

 

 

 

(69

)

Earnings (Loss) before Taxes

 

$

(47

)

 

$

(1,464

)

 

$

(1,103

)

 

$

(1,464

)

(1) Includes $151,000 of MTEX revenue related to sales that were sold to third parties via intercompany sales at cost plus mark-up.

(2) Includes $878,000 of MTEX revenue related to sales that were sold to third parties via intercompany sales at cost plus mark-up.

 

MTEX was acquired on May 6, 2024, and therefore for fiscal 2025 second quarter and second quarter year-to-date results are the same.