| Schedule of Purchase Price Allocation |
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| Preliminary Purchase Price Allocation - Vapor Power |
|
Amortization Period (years) |
Fair Value |
| Cash |
|
$ |
7,051 |
|
| Accounts receivable |
|
9,208 |
|
| Inventories |
|
8,640 |
|
| Other current assets |
|
776 |
| Property, plant and equipment |
|
2,436 |
|
| Operating lease right-of-use assets |
|
2,700 |
|
| Intangibles: |
|
|
Customer relationships(1)
|
2 - 15 |
24,343 |
|
| Trademarks |
10 |
7,879 |
|
| Developed technology |
15 |
13,689 |
|
| Goodwill |
|
46,143 |
|
| Total fair value of assets acquired |
|
$ |
122,865 |
|
| Current liabilities |
|
(12,793) |
|
| Operating lease liability |
|
(2,549) |
|
| Total fair value of liabilities acquired |
|
$ |
(15,342) |
|
| Total purchase price |
|
$ |
107,523 |
|
(1) Included in the customer relationships intangible assets is $5,536 related to customer backlog with an estimated useful life of 2 years.
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| Purchase Price Allocation - Powerblanket |
|
Amortization Period (years) |
Fair Value |
| Accounts receivable |
|
$ |
1,267 |
|
| Inventories |
|
3,545 |
|
| Other current assets |
|
290 |
|
| Property, plant and equipment |
|
391 |
|
| Other non-current assets |
|
954 |
|
| Intangibles: |
|
|
| Customer relationships |
9.8 |
3,301 |
|
| Trademarks |
9.8 |
3,397 |
|
| Contract-based |
5.0 |
1,280 |
|
| Developed technology |
15.8 |
5,189 |
|
| Goodwill |
|
18,620 |
|
| Total fair value of assets acquired |
|
$ |
38,234 |
|
| Accounts payable |
|
(1,098) |
|
| Accrued liabilities |
|
(637) |
|
| Other liabilities |
|
(1,200) |
|
| Total fair value of liabilities acquired |
|
$ |
(2,935) |
|
| Total purchase price |
|
$ |
35,299 |
|
|
| Schedule of Unaudited Pro Forma Information |
Also, the pro forma results presented below are adjusted for the removal of Powerblanket Acquisition and other related costs of $126, which were incurred in our first fiscal quarter ended June 30, 2022.
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|
Three Months Ended December 31, 2023 |
|
Three Months Ended December 31, 2022 |
|
Nine Months Ended December 31, 2023 |
|
Nine Months Ended December 31, 2022 |
| Sales |
$ |
154,927 |
|
|
$ |
135,030 |
|
|
$ |
407,434 |
|
|
$ |
348,390 |
|
| Net income |
20,072 |
|
|
12,207 |
|
|
48,145 |
|
|
30,386 |
|
|