Industry, Segment and Geographic Financial Information (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Industry, Segment and Geographic Financial Information |
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| Schedule of segment reporting information |
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|
Year ended |
|
|
December 31, |
|
|
2022 |
|
2021 |
Net Sales: |
|
|
|
|
|
|
Distribution |
|
$ |
282,509 |
|
$ |
259,360 |
Solutions |
|
|
21,839 |
|
|
23,222 |
|
|
|
304,348 |
|
|
282,582 |
Gross Profit: |
|
|
|
|
|
|
Distribution |
|
$ |
44,970 |
|
$ |
36,526 |
Solutions |
|
|
9,124 |
|
|
9,190 |
|
|
|
54,094 |
|
|
45,716 |
Direct Costs: |
|
|
|
|
|
|
Distribution |
|
$ |
15,804 |
|
$ |
14,610 |
Solutions |
|
|
4,296 |
|
|
4,741 |
|
|
|
20,100 |
|
|
19,351 |
Segment Income Before Taxes: (1) |
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|
|
|
|
|
Distribution |
|
$ |
29,166 |
|
$ |
21,916 |
Solutions |
|
|
4,828 |
|
|
4,449 |
Segment Income Before Taxes |
|
|
33,994 |
|
|
26,365 |
|
|
|
|
|
|
|
General and administrative |
|
$ |
14,044 |
|
$ |
12,785 |
Amortization and depreciation expense |
|
|
2,054 |
|
|
1,529 |
Acquisition related costs |
|
|
582 |
|
|
— |
Interest, net |
|
|
159 |
|
|
359 |
Foreign currency transaction loss |
|
|
(941) |
|
|
(46) |
Income before taxes |
|
$ |
16,532 |
|
$ |
12,364 |
(1) Excludes general corporate expenses including acquisition related costs, amortization and depreciation expense, interest, and foreign currency transaction (loss) gain.
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As of |
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As of |
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December 31, |
|
December 31, |
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Selected Assets by Segment: |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
180,602 |
|
$ |
133,506 |
|
Solutions |
|
|
21,420 |
|
|
18,895 |
|
Segment Select Assets |
|
|
202,022 |
|
|
152,401 |
|
Corporate Assets |
|
|
29,834 |
|
|
38,351 |
|
Total Assets |
|
$ |
231,856 |
|
$ |
190,752 |
|
|
| Schedule of net sales to identifiable assets by geographic areas |
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Year ended |
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|
December 31, 2022 |
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|
Distribution |
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Solutions |
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Total |
|
Geography |
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|
|
|
|
|
|
|
|
|
USA |
|
$ |
225,380 |
|
$ |
11,137 |
|
$ |
236,517 |
|
Europe and United Kingdom |
|
|
34,423 |
|
|
9,171 |
|
|
43,594 |
|
Canada |
|
|
22,706 |
|
|
1,531 |
|
|
24,237 |
|
Total net sales |
|
$ |
282,509 |
|
$ |
21,839 |
|
$ |
304,348 |
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
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|
|
|
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|
|
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Transferred at a point in time where the Company is principal (1) |
|
$ |
251,334 |
|
$ |
15,044 |
|
$ |
266,378 |
|
Transferred at a point in time where the Company is agent (2) |
|
|
31,175 |
|
|
6,795 |
|
|
37,970 |
|
Total net sales |
|
$ |
282,509 |
|
$ |
21,839 |
|
$ |
304,348 |
|
|
|
|
|
|
|
|
|
|
|
|
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Year ended |
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|
December 31, 2021 |
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Distribution |
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Solutions |
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Total |
|
Geography |
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|
|
|
|
|
|
|
|
|
USA |
|
$ |
210,247 |
|
$ |
11,057 |
|
$ |
221,304 |
|
Europe and United Kingdom |
|
|
26,055 |
|
|
10,652 |
|
|
36,707 |
|
Canada |
|
|
23,058 |
|
|
1,513 |
|
|
24,571 |
|
Total net sales |
|
$ |
259,360 |
|
$ |
23,222 |
|
$ |
282,582 |
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
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|
|
|
|
|
|
|
|
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Transferred at a point in time where the Company is principal (1) |
|
$ |
234,322 |
|
$ |
16,360 |
|
$ |
250,682 |
|
Transferred at a point in time where the Company is agent (2) |
|
|
25,038 |
|
|
6,862 |
|
|
31,900 |
|
Total net sales |
|
$ |
259,360 |
|
$ |
23,222 |
|
$ |
282,582 |
|
| (1) |
Includes net sales from third-party hardware and software products. |
| (2) |
Includes net sales from third-party maintenance, software support and services. |
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| Summary of identifiable assets by geographic area |
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December 31, |
|
December 31, |
|
Identifiable Assets by Geographic Areas |
|
2022 |
|
2021 |
|
USA |
|
$ |
137,877 |
|
$ |
122,445 |
|
Canada |
|
|
27,597 |
|
|
24,923 |
|
Europe and United Kingdom |
|
|
66,382 |
|
|
43,384 |
|
Total |
|
$ |
231,856 |
|
$ |
190,752 |
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