Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.24.1.1.u2
Acquisition (Tables)
 12 Months Ended
Mar. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition
Preliminary Purchase Price Allocation
Amortization Period (years) Fair Value
Cash $ 7,051 
Accounts receivable 8,683 
Inventories 8,980 
Other assets 1,693 
Property, plant and equipment 2,576 
Operating lease right-of-use assets 2,700 
Intangible assets:
Customer relationships(1)
2 - 15
 22,953 
Trademarks 10 7,879 
Developed technology 15 13,689 
Goodwill 51,750 
Total fair value of assets acquired $ 127,954 
Current liabilities (17,882)
Operating lease liability (2,549)
Total fair value of liabilities acquired $ (20,431)
Total purchase price $ 107,523 
(1) Included in the customer relationships intangible assets is $4,407 related to customer backlog with an estimated useful life of 2 years.
Purchase Price Allocation
Amortization Period (years) Fair Value
Accounts receivable $ 1,267 
Inventories 3,545 
Property, plant and equipment 391 
Other current assets 290 
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 
Current liabilities (1,735)
Other liabilities (1,200)
Total fair value of liabilities acquired $ (2,935)
Total purchase price $ 35,299 
Schedule of Business Acquisition, Pro Forma Information Also, the pro forma results presented below are adjusted for the removal of transaction related costs for the Powerblanket Acquisition totaling $126 in fiscal 2023 and $152 in fiscal 2022.
in thousands, unaudited Twelve Months Ended March 31, 2024 Twelve Months Ended March 31, 2023 Twelve Months Ended March 31, 2022
Sales $ 534,997  $ 479,138  $ 404,852 
Net income 58,228  39,833  28,505