Segment Information (Tables)
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3 Months Ended |
Mar. 31, 2024 |
Segment Information |
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Schedule of segment reporting information |
| | | | | | | | | | Three months ended | | | | March 31, | | | | 2024 | | 2023 | | Net Sales: | | | | | | | | Distribution | | $ | 86,822 | | $ | 78,550 | | Solutions | | | 5,600 | | | 6,490 | | | | | 92,422 | | | 85,040 | | Gross Profit: | | | | | | | | Distribution | | $ | 14,215 | | $ | 12,728 | | Solutions | | | 2,805 | | | 2,481 | | | | | 17,020 | | | 15,209 | | Direct Costs: | | | | | | | | Distribution | | $ | 7,376 | | $ | 4,777 | | Solutions | | | 1,381 | | | 1,301 | | | | | 8,757 | | | 6,078 | | Segment Income Before Taxes: (1) | | | | | | | | Distribution | | $ | 6,839 | | $ | 7,951 | | Solutions | | | 1,424 | | | 1,180 | | Segment Income Before Taxes | | | 8,263 | | | 9,131 | | | | | | | | | | General and administrative | | $ | 3,766 | | $ | 4,163 | | Acquisition related costs | | | 123 | | | 22 | | Depreciation and amortization expense | | | 871 | | | 713 | | Interest, net | | | 203 | | | 112 | | Foreign currency transaction loss | | | (85) | | | 44 | | Income before taxes | | $ | 3,621 | | $ | 4,389 | | | | | | | | | |
(1) | Excludes general corporate expenses including interest and foreign currency transaction loss |
| | | | | | | | | | | | | | | | As of | | As of | | | | March 31, | | December 31, | | Selected Assets by Segment: | | 2024 | | 2023 | | | | | | | | | | Distribution | | $ | 196,893 | | $ | 242,927 | | Solutions | | | 39,137 | | | 37,992 | | Segment Select Assets | | | 236,030 | | | 280,919 | | Corporate Assets | | | 62,292 | | | 54,179 | | Total Assets | | $ | 298,322 | | $ | 335,098 | |
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Schedule of disaggregation of revenue by geographic location and timing of recognition |
| | | | | | | | | | | | | Three months ended | | | | March 31, 2024 | | | | Distribution | | Solutions | | Total | | Geography | | | | | | | | | | | USA | | $ | 62,364 | | $ | 1,908 | | $ | 64,272 | | Europe and United Kingdom | | | 18,285 | | | 3,406 | | | 21,691 | | Canada | | | 6,173 | | | 286 | | | 6,459 | | Total net sales | | $ | 86,822 | | $ | 5,600 | | $ | 92,422 | | | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | | | Transferred at a point in time where the Company is principal (1) | | $ | 75,733 | | $ | 3,558 | | $ | 79,291 | | Transferred at a point in time where the Company is agent (2) | | | 11,089 | | | 2,042 | | | 13,131 | | Total net sales | | $ | 86,822 | | $ | 5,600 | | $ | 92,422 | | | | | | | | | | | | | | | Three months ended | | | | March 31, 2023 | | | | Distribution | | Solutions | | Total | | Geography | | | | | | | | | | | USA | | $ | 56,743 | | $ | 3,666 | | $ | 60,409 | | Europe and United Kingdom | | | 15,416 | | | 2,501 | | | 17,917 | | Canada | | | 6,391 | | | 323 | | | 6,714 | | Total net sales | | $ | 78,550 | | $ | 6,490 | | $ | 85,040 | | | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | | | Transferred at a point in time where the Company is principal (1) | | $ | 68,568 | | $ | 4,833 | | $ | 73,401 | | Transferred at a point in time where the Company is agent (2) | | | 9,982 | | | 1,657 | | | 11,639 | | Total net sales | | $ | 78,550 | | $ | 6,490 | | $ | 85,040 | |
(1) | Includes net sales from third-party hardware and software products. |
(2) | Includes net sales from third-party maintenance, software support and services. |
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Summary of identifiable assets by geographic area |
| | | | | | | | | | March 31, | | December 31, | | Identifiable Assets by Geographic Areas | | 2024 | | 2023 | | USA | | $ | 143,693 | | $ | 171,080 | | Canada | | | 30,151 | | | 23,994 | | Europe and United Kingdom | | | 124,478 | | | 140,024 | | Total | | $ | 298,322 | | $ | 335,098 | |
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