Segment Information (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| Segment Information |
|
| Schedule of segment reporting information |
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
March 31, |
|
|
2021 |
|
2020 |
Revenue: |
|
|
|
|
|
|
Distribution |
|
$ |
54,820 |
|
$ |
57,264 |
Solutions |
|
|
7,993 |
|
|
5,354 |
|
|
|
62,813 |
|
|
62,618 |
Gross Profit: |
|
|
|
|
|
|
Distribution |
|
$ |
7,874 |
|
$ |
7,162 |
Solutions |
|
|
2,969 |
|
|
1,002 |
|
|
|
10,843 |
|
|
8,164 |
Direct Costs: |
|
|
|
|
|
|
Distribution |
|
$ |
3,913 |
|
$ |
2,637 |
Solutions |
|
|
1,408 |
|
|
462 |
|
|
|
5,321 |
|
|
3,099 |
Segment Income Before Taxes: (1) |
|
|
|
|
|
|
Distribution |
|
$ |
3,961 |
|
$ |
4,525 |
Solutions |
|
|
1,561 |
|
|
540 |
Segment Income Before Taxes |
|
|
5,522 |
|
|
5,065 |
|
|
|
|
|
|
|
General and administrative |
|
$ |
3,091 |
|
$ |
2,305 |
Legal and financial advisory expenses, net - unsolicited bid and related matters |
|
|
— |
|
|
1,323 |
Acquisition related costs |
|
|
— |
|
|
403 |
Amortization and depreciation expense |
|
|
399 |
|
|
96 |
Interest, net |
|
|
10 |
|
|
62 |
Foreign currency transaction (loss) gain |
|
|
(91) |
|
|
115 |
Income before taxes |
|
$ |
1,951 |
|
$ |
1,115 |
|
|
|
|
|
|
|
| (1) |
Excludes general corporate expenses including interest and foreign currency transaction (loss) gain. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
|
|
March 31, |
|
December 31, |
|
Selected Assets by Segment: |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
109,402 |
|
$ |
100,841 |
|
Solutions |
|
|
5,697 |
|
|
7,304 |
|
Segment Select Assets |
|
|
115,099 |
|
|
108,145 |
|
Goodwill and Intangible Assets |
|
|
20,379 |
|
|
19,592 |
|
Corporate Assets |
|
|
42,232 |
|
|
37,796 |
|
Total Assets |
|
$ |
177,710 |
|
$ |
165,533 |
|
|
| Summary of disaggregation of revenue according to revenue type |
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
March 31, 2021 |
|
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
USA |
|
$ |
41,084 |
|
$ |
4,979 |
|
$ |
46,063 |
Europe and United Kingdom |
|
|
7,246 |
|
|
2,743 |
|
|
9,989 |
Canada |
|
|
6,490 |
|
|
271 |
|
|
6,761 |
Total net sales |
|
$ |
54,820 |
|
$ |
7,993 |
|
$ |
62,813 |
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
49,357 |
|
$ |
6,150 |
|
$ |
55,507 |
Transferred at a point in time where the Company is agent (2) |
|
|
5,463 |
|
|
1,843 |
|
|
7,306 |
Total net sales |
|
$ |
54,820 |
|
$ |
7,993 |
|
$ |
62,813 |
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
March 31, 2020 |
|
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
USA |
|
$ |
53,104 |
|
$ |
4,797 |
|
$ |
57,901 |
Europe and United Kingdom |
|
|
1,776 |
|
|
— |
|
|
1,776 |
Canada |
|
|
2,384 |
|
|
557 |
|
|
2,941 |
Total net sales |
|
$ |
57,264 |
|
$ |
5,354 |
|
$ |
62,618 |
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
52,493 |
|
$ |
5,089 |
|
$ |
57,582 |
Transferred at a point in time where the Company is agent (2) |
|
|
4,771 |
|
|
265 |
|
|
5,036 |
Total net sales |
|
$ |
57,264 |
|
$ |
5,354 |
|
$ |
62,618 |
| (1) |
Includes net sales from third-party hardware and software products. |
| (2) |
Includes net sales from third-party maintenance, software support and services. |
|
| Schedule of net sales to identifiable assets by geographic areas |
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
Identifiable Assets by Geographic Areas |
|
2021 |
|
2020 |
|
USA |
|
$ |
108,954 |
|
$ |
114,126 |
|
Canada |
|
|
24,691 |
|
|
18,514 |
|
Europe and United Kingdom |
|
|
23,686 |
|
|
13,301 |
|
Unallocated |
|
|
20,379 |
|
|
19,592 |
|
Total |
|
$ |
177,710 |
|
$ |
165,533 |
|
|