| Schedule of segment reporting information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended |
|
Three months ended |
|
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
188,785 |
|
$ |
168,536 |
|
$ |
64,094 |
|
$ |
57,059 |
Solutions |
|
|
18,289 |
|
|
11,588 |
|
|
4,817 |
|
|
3,860 |
|
|
|
207,074 |
|
|
180,124 |
|
|
68,911 |
|
|
60,919 |
Gross Profit: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
25,985 |
|
$ |
20,390 |
|
$ |
9,298 |
|
$ |
6,585 |
Solutions |
|
|
7,155 |
|
|
2,125 |
|
|
2,021 |
|
|
652 |
|
|
|
33,140 |
|
|
22,515 |
|
|
11,319 |
|
|
7,237 |
Direct Costs: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
11,073 |
|
$ |
8,387 |
|
$ |
3,484 |
|
$ |
2,993 |
Solutions |
|
|
3,620 |
|
|
992 |
|
|
1,092 |
|
|
275 |
|
|
|
14,693 |
|
|
9,379 |
|
|
4,576 |
|
|
3,268 |
Segment Income Before Taxes: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
14,912 |
|
$ |
12,003 |
|
$ |
5,814 |
|
$ |
3,592 |
Solutions |
|
|
3,535 |
|
|
1,133 |
|
|
929 |
|
|
377 |
Segment Income Before Taxes |
|
|
18,447 |
|
|
13,136 |
|
|
6,743 |
|
|
3,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative |
|
$ |
9,619 |
|
$ |
7,487 |
|
$ |
3,185 |
|
$ |
2,725 |
Legal and financial advisory expenses, net - unsolicited bid and related matters |
|
|
— |
|
|
1,752 |
|
|
— |
|
|
(81) |
Acquisition related costs |
|
|
— |
|
|
982 |
|
|
— |
|
|
344 |
Amortization and depreciation expense |
|
|
1,177 |
|
|
403 |
|
|
381 |
|
|
164 |
Interest, net |
|
|
362 |
|
|
105 |
|
|
60 |
|
|
19 |
Foreign currency transaction (loss) gain |
|
|
(107) |
|
|
211 |
|
|
(41) |
|
|
(67) |
Income before taxes |
|
$ |
7,906 |
|
$ |
2,828 |
|
$ |
3,196 |
|
$ |
769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Excludes general corporate expenses including interest and foreign currency transaction (loss) gain. |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
|
|
September 30, |
|
December 31, |
|
Selected Assets by Segment: |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
113,441 |
|
$ |
106,930 |
|
Solutions |
|
|
19,973 |
|
|
20,807 |
|
Segment Select Assets |
|
|
133,414 |
|
|
127,737 |
|
Corporate Assets |
|
|
38,322 |
|
|
37,796 |
|
Total Assets |
|
$ |
171,736 |
|
$ |
165,533 |
|
|
| Summary of disaggregation of revenue according to revenue type |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended |
|
Three months ended |
|
|
September 30, 2021 |
|
September 30, 2021 |
|
|
Distribution |
|
Solutions |
|
Total |
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
152,789 |
|
$ |
9,194 |
|
$ |
161,983 |
|
$ |
53,744 |
|
$ |
2,030 |
|
$ |
55,774 |
Europe and United Kingdom |
|
|
18,758 |
|
|
8,020 |
|
|
26,778 |
|
|
5,789 |
|
|
2,449 |
|
|
8,238 |
Canada |
|
|
17,238 |
|
|
1,075 |
|
|
18,313 |
|
|
4,561 |
|
|
338 |
|
|
4,899 |
Total net sales |
|
$ |
188,785 |
|
$ |
18,289 |
|
$ |
207,074 |
|
$ |
64,094 |
|
$ |
4,817 |
|
$ |
68,911 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
171,151 |
|
$ |
13,064 |
|
$ |
184,215 |
|
$ |
57,917 |
|
$ |
3,167 |
|
$ |
61,084 |
Transferred at a point in time where the Company is agent (2) |
|
|
17,634 |
|
|
5,225 |
|
|
22,859 |
|
|
6,177 |
|
|
1,650 |
|
|
7,827 |
Total net sales |
|
$ |
188,785 |
|
$ |
18,289 |
|
$ |
207,074 |
|
$ |
64,094 |
|
$ |
4,817 |
|
$ |
68,911 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended |
|
Three months ended |
|
|
September 30, 2020 |
|
September 30, 2020 |
|
|
Distribution |
|
Solutions |
|
Total |
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
154,727 |
|
$ |
10,251 |
|
$ |
164,978 |
|
$ |
53,857 |
|
$ |
3,553 |
|
$ |
57,410 |
Europe and United Kingdom |
|
|
6,283 |
|
|
— |
|
|
6,283 |
|
|
1,748 |
|
|
— |
|
|
1,748 |
Canada |
|
|
7,526 |
|
|
1,337 |
|
|
8,863 |
|
|
1,454 |
|
|
307 |
|
|
1,761 |
Total net sales |
|
$ |
168,536 |
|
$ |
11,588 |
|
$ |
180,124 |
|
$ |
57,059 |
|
$ |
3,860 |
|
$ |
60,919 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
155,038 |
|
$ |
10,913 |
|
$ |
165,951 |
|
$ |
52,706 |
|
$ |
3,664 |
|
$ |
56,370 |
Transferred at a point in time where the Company is agent (2) |
|
|
13,498 |
|
|
675 |
|
|
14,173 |
|
|
4,353 |
|
|
196 |
|
|
4,549 |
Total net sales |
|
$ |
168,536 |
|
$ |
11,588 |
|
$ |
180,124 |
|
$ |
57,059 |
|
$ |
3,860 |
|
$ |
60,919 |
| (1) |
Includes net sales from third-party hardware and software products. |
| (2) |
Includes net sales from third-party maintenance, software support and services. |
|