Acquisition (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Business Combination [Line Items] |
|
| Schedule of Contingent Earn Out Liability |
A rollforward of contingent earn-out liabilities is as follows:
|
|
|
|
|
Balance at November 9, 2023 |
|
$ |
2,040 |
|
Change in fair value |
|
|
80 |
|
Payments |
|
|
— |
|
Balance at March 31, 2024 |
|
|
2,120 |
|
Change in fair value |
|
|
(1,215 |
) |
Payments |
|
|
— |
|
Balance at March 31, 2025 |
|
|
905 |
|
Change in fair value |
|
|
(568 |
) |
Additional acquisition earn out |
|
|
6,145 |
|
Payments |
|
|
— |
|
Balance at March 31, 2026 |
|
$ |
6,482 |
|
|
| Schedule of Unaudited Pro Forma Information |
The following unaudited pro forma information presents the consolidated results of operations of the Company as if the FlackTek acquisition had occurred at the beginning of the year ended March 31, 2025:
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For the Years Ended |
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|
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|
March 31, |
|
|
|
|
2026 |
|
|
2025 |
|
|
Net sales |
|
$ |
265,731 |
|
|
$ |
234,956 |
|
|
Net income |
|
|
13,193 |
|
|
|
9,412 |
|
|
Earnings per share |
|
|
|
|
|
|
|
Basic |
|
$ |
1.19 |
|
|
$ |
0.86 |
|
|
Diluted |
|
$ |
1.18 |
|
|
$ |
0.84 |
|
|
|
| P3 Technologies, LLC [Member] |
|
| Business Combination [Line Items] |
|
| Schedule of Final Purchase Price Allocation, After Adjustments of the Assets Acquired and Liabilities Assumed |
The following table summarizes the final purchase price allocation of the assets acquired and liabilities assumed:
|
|
|
|
|
|
|
November 9, |
|
|
|
2023 |
|
Assets acquired: |
|
|
|
Cash and cash equivalents |
|
$ |
286 |
|
Trade accounts receivable, net of allowances |
|
|
465 |
|
Unbilled revenue |
|
|
302 |
|
Inventories |
|
|
808 |
|
Prepaid expenses and other current assets |
|
|
93 |
|
Property, plant & equipment, net |
|
|
542 |
|
Operating lease assets |
|
|
130 |
|
Goodwill |
|
|
1,997 |
|
Customer relationships |
|
|
4,400 |
|
Technology and technical know-how |
|
|
2,500 |
|
Tradename |
|
|
300 |
|
Total assets acquired |
|
|
11,823 |
|
Liabilities assumed: |
|
|
|
Accrued compensation |
|
|
62 |
|
Customer deposits |
|
|
389 |
|
Operating lease liabilities |
|
|
134 |
|
Total liabilities assumed |
|
|
585 |
|
Purchase price |
|
$ |
11,238 |
|
|
| FlackTek [Member] |
|
| Business Combination [Line Items] |
|
| Schedule of Final Purchase Price Allocation, After Adjustments of the Assets Acquired and Liabilities Assumed |
The following table summarizes the preliminary purchase price allocation of the assets acquired and liabilities assumed:
|
|
|
|
|
|
|
January 23, |
|
|
|
2026 |
|
Assets acquired: |
|
|
|
Cash and cash equivalents |
|
$ |
66 |
|
Trade accounts receivable, net of allowances |
|
|
3,985 |
|
Inventories |
|
|
4,154 |
|
Prepaid expenses and other current assets |
|
|
84 |
|
Property, plant & equipment, net |
|
|
2,030 |
|
Operating lease assets |
|
|
1,448 |
|
Goodwill |
|
|
11,844 |
|
Customer relationships |
|
|
3,400 |
|
Technology and technical know-how |
|
|
13,300 |
|
Tradename |
|
|
6,700 |
|
Other long term asset |
|
|
31 |
|
Total assets acquired |
|
|
47,042 |
|
Liabilities assumed: |
|
|
|
Accounts payable |
|
|
2,237 |
|
Accrued compensation |
|
|
596 |
|
Accrued expenses and other current liabilities |
|
|
3,988 |
|
Customer deposits |
|
|
1,751 |
|
Operating lease liabilities |
|
|
1,448 |
|
Total liabilities assumed |
|
|
10,020 |
|
Purchase price |
|
$ |
37,022 |
|
|