| Schedule of segment reporting information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended |
|
Three months ended |
|
|
September 30, |
|
September 30, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
195,304 |
|
$ |
188,785 |
|
$ |
66,529 |
|
$ |
64,094 |
Solutions |
|
|
20,139 |
|
|
18,289 |
|
|
9,732 |
|
|
4,817 |
|
|
|
215,443 |
|
|
207,074 |
|
|
76,261 |
|
|
68,911 |
Gross Profit: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
30,953 |
|
$ |
25,985 |
|
$ |
11,101 |
|
$ |
9,298 |
Solutions |
|
|
7,031 |
|
|
7,155 |
|
|
2,416 |
|
|
2,021 |
|
|
|
37,984 |
|
|
33,140 |
|
|
13,517 |
|
|
11,319 |
Direct Costs: |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
11,374 |
|
$ |
11,073 |
|
$ |
4,123 |
|
$ |
3,484 |
Solutions |
|
|
3,262 |
|
|
3,620 |
|
|
1,113 |
|
|
1,092 |
|
|
|
14,636 |
|
|
14,693 |
|
|
5,236 |
|
|
4,576 |
Segment Income Before Taxes: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
19,579 |
|
$ |
14,912 |
|
$ |
6,978 |
|
$ |
5,814 |
Solutions |
|
|
3,769 |
|
|
3,535 |
|
|
1,303 |
|
|
929 |
Segment Income Before Taxes |
|
|
23,348 |
|
|
18,447 |
|
|
8,281 |
|
|
6,743 |
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative |
|
$ |
10,390 |
|
$ |
9,619 |
|
$ |
3,686 |
|
$ |
3,185 |
Amortization and depreciation expense |
|
|
1,357 |
|
|
1,177 |
|
|
555 |
|
|
381 |
Acquisition related costs |
|
|
445 |
|
|
— |
|
|
365 |
|
|
— |
Interest, net |
|
|
40 |
|
|
362 |
|
|
58 |
|
|
60 |
Foreign currency transaction loss |
|
|
(799) |
|
|
(107) |
|
|
(500) |
|
|
(41) |
Income before taxes |
|
$ |
10,397 |
|
$ |
7,906 |
|
$ |
3,233 |
|
$ |
3,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Excludes general corporate expenses including interest and foreign currency transaction loss
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As of |
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As of |
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|
|
September 30, |
|
December 31, |
|
Selected Assets by Segment: |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
145,602 |
|
$ |
133,506 |
|
Solutions |
|
|
20,832 |
|
|
18,895 |
|
Segment Select Assets |
|
|
166,434 |
|
|
152,401 |
|
Corporate Assets |
|
|
33,188 |
|
|
38,351 |
|
Total Assets |
|
$ |
199,622 |
|
$ |
190,752 |
|
|
| Summary of disaggregation of revenue according to revenue type |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended |
|
Three months ended |
|
|
September 30, 2022 |
|
September 30, 2022 |
|
|
Distribution |
|
Solutions |
|
Total |
|
Distribution |
|
Solutions |
|
Total |
Geography |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
159,335 |
|
$ |
12,027 |
|
$ |
171,362 |
|
$ |
54,812 |
|
$ |
7,224 |
|
$ |
62,036 |
Europe and United Kingdom |
|
|
19,252 |
|
|
6,816 |
|
|
26,068 |
|
|
5,933 |
|
|
2,077 |
|
|
8,010 |
Canada |
|
|
16,717 |
|
|
1,296 |
|
|
18,013 |
|
|
5,784 |
|
|
431 |
|
|
6,215 |
Total net sales |
|
$ |
195,304 |
|
$ |
20,139 |
|
$ |
215,443 |
|
$ |
66,529 |
|
$ |
9,732 |
|
$ |
76,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
173,606 |
|
$ |
15,076 |
|
$ |
188,682 |
|
$ |
58,669 |
|
$ |
7,982 |
|
$ |
66,651 |
Transferred at a point in time where the Company is agent (2) |
|
|
21,698 |
|
|
5,063 |
|
|
26,761 |
|
|
7,860 |
|
|
1,750 |
|
|
9,610 |
Total net sales |
|
$ |
195,304 |
|
$ |
20,139 |
|
$ |
215,443 |
|
$ |
66,529 |
|
$ |
9,732 |
|
$ |
76,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
| (1) |
Includes net sales from third-party hardware and software products. |
| (2) |
Includes net sales from third-party maintenance, software support and services. |
|