| Schedule of segment reporting information |
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Six months ended |
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Three months ended |
|
|
June 30, |
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June 30, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
128,775 |
|
$ |
124,692 |
|
$ |
62,992 |
|
$ |
69,872 |
Solutions |
|
|
10,407 |
|
|
13,471 |
|
|
4,871 |
|
|
5,478 |
|
|
|
139,182 |
|
|
138,163 |
|
|
67,863 |
|
|
75,350 |
Gross Profit: |
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|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
19,852 |
|
$ |
16,688 |
|
$ |
10,259 |
|
$ |
8,814 |
Solutions |
|
|
4,614 |
|
|
5,134 |
|
|
2,227 |
|
|
2,165 |
|
|
|
24,466 |
|
|
21,822 |
|
|
12,486 |
|
|
10,979 |
Direct Costs: |
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|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
7,251 |
|
$ |
7,590 |
|
$ |
3,587 |
|
$ |
3,677 |
Solutions |
|
|
2,148 |
|
|
2,528 |
|
|
1,010 |
|
|
1,120 |
|
|
|
9,399 |
|
|
10,118 |
|
|
4,597 |
|
|
4,797 |
Segment Income Before Taxes: (1) |
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|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
12,601 |
|
$ |
9,098 |
|
$ |
6,672 |
|
$ |
5,137 |
Solutions |
|
|
2,466 |
|
|
2,606 |
|
|
1,217 |
|
|
1,045 |
Segment Income Before Taxes |
|
|
15,067 |
|
|
11,704 |
|
|
7,889 |
|
|
6,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative |
|
$ |
6,784 |
|
$ |
6,433 |
|
$ |
3,337 |
|
$ |
3,341 |
Amortization and depreciation expense |
|
|
802 |
|
|
796 |
|
|
445 |
|
|
398 |
Interest, net |
|
|
(17) |
|
|
301 |
|
|
(7) |
|
|
291 |
Foreign currency transaction (loss) gain |
|
|
(298) |
|
|
(66) |
|
|
(442) |
|
|
25 |
Income before taxes |
|
$ |
7,166 |
|
$ |
4,710 |
|
$ |
3,658 |
|
$ |
2,759 |
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|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Excludes general corporate expenses including interest and foreign currency transaction (loss) gain.
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As of |
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As of |
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|
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June 30, |
|
December 31, |
|
Selected Assets by Segment: |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
125,277 |
|
$ |
133,506 |
|
Solutions |
|
|
17,307 |
|
|
18,895 |
|
Segment Select Assets |
|
|
142,584 |
|
|
152,401 |
|
Corporate Assets |
|
|
36,419 |
|
|
38,351 |
|
Total Assets |
|
$ |
179,003 |
|
$ |
190,752 |
|
|
| Summary of disaggregation of revenue according to revenue type |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended |
|
Three months ended |
|
|
June 30, 2022 |
|
June 30, 2022 |
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|
Distribution |
|
Solutions |
|
Total |
|
Distribution |
|
Solutions |
|
Total |
Geography |
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|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
USA |
|
$ |
104,523 |
|
$ |
4,803 |
|
$ |
109,326 |
|
$ |
51,407 |
|
$ |
2,291 |
|
$ |
53,698 |
Europe and United Kingdom |
|
|
13,319 |
|
|
4,739 |
|
|
18,058 |
|
|
5,883 |
|
|
2,182 |
|
|
8,065 |
Canada |
|
|
10,933 |
|
|
865 |
|
|
11,798 |
|
|
5,702 |
|
|
398 |
|
|
6,100 |
Total net sales |
|
$ |
128,775 |
|
$ |
10,407 |
|
$ |
139,182 |
|
$ |
62,992 |
|
$ |
4,871 |
|
$ |
67,863 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
114,937 |
|
$ |
7,093 |
|
$ |
122,030 |
|
$ |
55,797 |
|
$ |
3,083 |
|
$ |
58,880 |
Transferred at a point in time where the Company is agent (2) |
|
|
13,838 |
|
|
3,314 |
|
|
17,152 |
|
|
7,195 |
|
|
1,788 |
|
|
8,983 |
Total net sales |
|
$ |
128,775 |
|
$ |
10,407 |
|
$ |
139,182 |
|
$ |
62,992 |
|
$ |
4,871 |
|
$ |
67,863 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended |
|
Three months ended |
|
|
June 30, 2021 |
|
June 30, 2021 |
|
|
Distribution |
|
Solutions |
|
Total |
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
99,049 |
|
$ |
7,164 |
|
$ |
106,213 |
|
$ |
57,964 |
|
$ |
2,185 |
|
$ |
60,149 |
Europe and United Kingdom |
|
|
12,969 |
|
|
5,571 |
|
|
18,540 |
|
|
5,724 |
|
|
2,827 |
|
|
8,551 |
Canada |
|
|
12,674 |
|
|
736 |
|
|
13,410 |
|
|
6,184 |
|
|
466 |
|
|
6,650 |
Total net sales |
|
$ |
124,692 |
|
$ |
13,471 |
|
$ |
138,163 |
|
$ |
69,872 |
|
$ |
5,478 |
|
$ |
75,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
113,240 |
|
$ |
9,897 |
|
$ |
123,137 |
|
$ |
63,882 |
|
$ |
3,746 |
|
$ |
67,628 |
Transferred at a point in time where the Company is agent (2) |
|
|
11,452 |
|
|
3,574 |
|
|
15,026 |
|
|
5,990 |
|
|
1,732 |
|
|
7,722 |
Total net sales |
|
$ |
124,692 |
|
$ |
13,471 |
|
$ |
138,163 |
|
$ |
69,872 |
|
$ |
5,478 |
|
$ |
75,350 |
| (1) |
Includes net sales from third-party hardware and software products. |
| (2) |
Includes net sales from third-party maintenance, software support and services. |
|