Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.23.1
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