Annual report pursuant to Section 13 and 15(d)

Note 3 - Acquisition (Tables)

v3.22.4
Note 3 - Acquisition (Tables)
 12 Months Ended
Dec. 31, 2022
Notes Tables  
Business Acquisition, Pro Forma Information [Table Text Block]
   

Actual

    

Unaudited Pro Forma

  
   

For the Years Ended December 31,

  
   

2022

    

2021

    

2020

  

Trade sales

   $ 280,125       277,769       162,056  

Income (loss) before income taxes

   $ 42,791       52,788       (62,156 )

Income (loss)

   $ 27,642       39,690       (49,093 )

Net income (loss) income attributable to shareholders

   $ 28,020       39,146       (43,596 )

 
Colonial Elegance, Inc [Member]  
Notes Tables  
Business Acquisition, Consolidated Information Since Acquisition [Table Text Block]
   

October 22, 2020

  
   

to December 31, 2020

  

Trade sales

   $ 12,393  

Income before income taxes

   $ 722  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Cash

   $ 557  

Trade accounts receivable

     10,244  

Trade inventory

     12,133  

Property and equipment

     1,007  

Identifiable intangible assets (1)

     21,795  

Operating lease asset (2)

     3,919  

Other assets

     650  

Total assets acquired

     50,305  

Accounts payable

     (5,619 )

Other liabilities

     (3,524 )

Operating lease liability

     (2,213 )

Total liabilities assumed

     (11,356 )

Fair value of identifiable net assets

     38,949  

Goodwill

     4,140  

Purchase consideration

     43,089  

Less: cash acquired

     (557 )

Less: consideration payable

     (194 )

Cash paid for acquisition less cash acquired

   $ 42,338  
         

Acquisition-related costs included in selling, general and administrative expenses

   $ 441  

 
Business Acquisition, Pro Forma Information [Table Text Block]
   

For the Year Ended December 31, 2020

  
   

Unaudited Pro Forma

    

Actual

  

Trade sales

   $ 188,146       147,210  

(Loss) income from continuing operations before income taxes

   $ (55,619 )     (57,947 )

(Loss) income from continuing operations

   $ (45,035 )     (46,703 )

Net (loss) income attributable to shareholders

   $ (40,306 )     (41,974 )

 

The unaudited pro forma financial data for the year ended December 31, 2020 includes estimated interest expense of $1.5 million associated with borrowings used to fund the acquisition of Colonial Elegance.