Segment Information (Tables)
|
3 Months Ended |
Mar. 31, 2023 |
|---|
| Segment Information |
|
| Schedule of segment reporting information |
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
March 31, |
|
|
2023 |
|
2022 |
Net Sales: |
|
|
|
|
|
|
Distribution |
|
$ |
78,550 |
|
$ |
65,784 |
Solutions |
|
|
6,490 |
|
|
5,535 |
|
|
|
85,040 |
|
|
71,319 |
Gross Profit: |
|
|
|
|
|
|
Distribution |
|
$ |
12,728 |
|
$ |
9,593 |
Solutions |
|
|
2,481 |
|
|
2,388 |
|
|
|
15,209 |
|
|
11,981 |
Direct Costs: |
|
|
|
|
|
|
Distribution |
|
$ |
4,777 |
|
$ |
3,664 |
Solutions |
|
|
1,301 |
|
|
1,138 |
|
|
|
6,078 |
|
|
4,802 |
Segment Income Before Taxes: (1) |
|
|
|
|
|
|
Distribution |
|
$ |
7,951 |
|
$ |
5,929 |
Solutions |
|
|
1,180 |
|
|
1,250 |
Segment Income Before Taxes |
|
|
9,131 |
|
|
7,179 |
|
|
|
|
|
|
|
General and administrative |
|
$ |
4,185 |
|
$ |
3,447 |
Amortization and depreciation expense |
|
|
713 |
|
|
357 |
Interest, net |
|
|
112 |
|
|
(10) |
Foreign currency transaction gain |
|
|
44 |
|
|
143 |
Income before taxes |
|
$ |
4,389 |
|
$ |
3,508 |
|
|
|
|
|
|
|
| (1) |
Excludes general corporate expenses including interest and foreign currency transaction loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
|
|
March 31, |
|
December 31, |
|
Selected Assets by Segment: |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
Distribution |
|
$ |
148,633 |
|
$ |
180,602 |
|
Solutions |
|
|
22,044 |
|
|
21,420 |
|
Segment Select Assets |
|
|
170,677 |
|
|
202,022 |
|
Corporate Assets |
|
|
75,855 |
|
|
29,834 |
|
Total Assets |
|
$ |
246,532 |
|
$ |
231,856 |
|
|
| Summary of disaggregation of revenue according to revenue type |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
March 31, 2023 |
|
|
|
Distribution |
|
Solutions |
|
Total |
|
Geography |
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
56,743 |
|
$ |
3,666 |
|
$ |
60,409 |
|
Europe and United Kingdom |
|
|
15,416 |
|
|
2,501 |
|
|
17,917 |
|
Canada |
|
|
6,391 |
|
|
323 |
|
|
6,714 |
|
Total net sales |
|
$ |
78,550 |
|
$ |
6,490 |
|
$ |
85,040 |
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
68,568 |
|
$ |
4,833 |
|
$ |
73,401 |
|
Transferred at a point in time where the Company is agent (2) |
|
|
9,982 |
|
|
1,657 |
|
|
11,639 |
|
Total net sales |
|
$ |
78,550 |
|
$ |
6,490 |
|
$ |
85,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
March 31, 2022 |
|
|
|
Distribution |
|
Solutions |
|
Total |
|
Geography |
|
|
|
|
|
|
|
|
|
|
USA |
|
$ |
53,116 |
|
$ |
2,512 |
|
$ |
55,628 |
|
Europe and United Kingdom |
|
|
7,437 |
|
|
2,557 |
|
|
9,994 |
|
Canada |
|
|
5,231 |
|
|
466 |
|
|
5,697 |
|
Total net sales |
|
$ |
65,784 |
|
$ |
5,535 |
|
$ |
71,319 |
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue Recognition |
|
|
|
|
|
|
|
|
|
|
Transferred at a point in time where the Company is principal (1) |
|
$ |
59,140 |
|
$ |
4,010 |
|
$ |
63,150 |
|
Transferred at a point in time where the Company is agent (2) |
|
|
6,644 |
|
|
1,525 |
|
|
8,169 |
|
Total net sales |
|
$ |
65,784 |
|
$ |
5,535 |
|
$ |
71,319 |
|
| (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 |
|
2023 |
|
2022 |
|
USA |
|
$ |
140,205 |
|
$ |
137,877 |
|
Canada |
|
|
30,990 |
|
|
27,597 |
|
Europe and United Kingdom |
|
|
75,337 |
|
|
66,382 |
|
Total |
|
$ |
246,532 |
|
$ |
231,856 |
|
|