Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of basic and diluted per share results

	For the Three Months Ended				For the Month Ended
	Mar. 31, 2021		Mar. 31, 2020		Dec. 31, 2020		Dec. 31, 2019
Net (loss) income	$	(768)	$	(286)	$	1,981	$	(255)
Weighted average shares outstanding for computation of basic per share results		6,236,000		5,088,000		5,663,000		5,075,000
Incremental shares from assumed exercise of stock options (a)		—		—		181,000		—
Adjusted weighted average shares for computation of diluted per share results		6,236,000		5,088,000		5,844,000		5,075,000

(a) Incremental shares from the assumed exercise of INDUS stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options for the 2021 first quarter, 2020 first quarter and month ended December 31, 2019 would have been 95,000, 52,000, and 51,000, respectively. For the 2021 first quarter, there was a Warrant for the purchase of 515,747 shares of Common Stock, as adjusted for the stock dividend in the 2021 first quarter, that was anti-dilutive.

Schedule of options granted by INDUS under the Stock Option Plan to non-employee directors

	For the Three Months Ended
	Mar. 31, 2020
		Fair Value per
	Number of	Option at
	Shares	Grant Date
Non-employee directors	102,906	$	12.29 - 14.17

Schedule of option holders

Number of option holders at March 31, 2021 28

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of Fiscal 2021	$	343
Fiscal 2022	$	374
Fiscal 2023	$	231
Fiscal 2024	$	111
Fiscal 2025	$	15

Summary of the activity under the INDUS Stock Option Plan

	For the Three Months Ended
	Mar. 31, 2021			Mar. 31, 2020
	Number of		Weighted Avg.	Number of		Weighted Avg.
	Shares		Exercise Price	Shares		Exercise Price
Outstanding at beginning of period	246,150	$	36.06	189,822	$	28.23
Adjustment for stock dividend	5,413	$	34.29	—	$	—
Granted	—	$	—	102,906	$	46.32
Exercised	(233)	$	26.31	—	$	—
Outstanding at end of period	251,330	$	35.28	292,728	$	34.59

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Outstanding Options	March 31, 2021	Exercise Price		(in years)	Value
$23.00 - $28.00	111,313	$	26.25	4.9	$	3,775
$28.00 - $32.00	14,073	$	29.84	4.3		427
$32.00 - $47.00	125,944	$	43.88	8.7		2,050
	251,330	$	35.28	6.8	$	6,252
Vested options	101,941	$	27.88	5.0	$	3,291

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended				For the Month Ended
	Mar. 31, 2021		Mar. 31, 2020		Dec. 31, 2020		Dec. 31, 2019
Compensation expense	$	214	$	122	$	41	$	19
Related tax benefit	$	—	$	28	$	—	$	4

Schedule of accumulated other comprehensive income (loss)

	For the Three Months Ended				For the Month Ended
	Mar. 31, 2021			Mar. 31, 2020	Dec. 31, 2020		Dec. 31, 2019
Balance at beginning of period	$	(7,855)	$	(2,540)	$	(8,051)	$	(3,141)
Other comprehensive gain (loss) before reclassifications		2,991		(4,964)		14		568
Amounts reclassified		488		103		182		33
Net activity for other comprehensive gain (loss)		3,479		(4,861)		196		601
Balance at end of period	$	(4,376)	$	(7,401)	$	(7,855)	$	(2,540)

Schedule of components of accumulated other comprehensive income (loss)

	For the Three Months Ended
	Mar. 31, 2021						Mar. 31, 2020
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassification included in net loss:
Loss on cash flow hedges (interest expense)	$	488	$	—	$	488	$	135	$	(32)	$	103
Change in other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedges		2,991		—		2,991		(6,602)		1,638		(4,964)
Other comprehensive income (loss)	$	3,479	$	—	$	3,479	$	(6,467)	$	1,606	$	(4,861)
	For the Month Ended
	Dec. 31, 2020						Dec. 31, 2019
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassification included in net income (loss):
Loss on cash flow hedges (interest expense)	$	182	$	—	$	182	$	43	$	(10)	$	33
Change in other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedges		14		—		14		739		(171)		568
Other comprehensive income (loss)	$	196	$	—	$	196	$	782	$	(181)	$	601

Restricted Stock Units (RSUs) [Member]

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of Fiscal 2021	$	403
Fiscal 2022	$	379
Fiscal 2023	$	285
Fiscal 2024	$	23