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As Of Filer Filing For·On·As Docs:Size 3/08/24 Kewaunee Scientific Corp./DE 10-Q 1/31/24 71:24M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 724K 2: EX-10.1 Material Contract HTML 755K 3: EX-31.1 Certification -- §302 - SOA'02 HTML 21K 4: EX-31.2 Certification -- §302 - SOA'02 HTML 21K 5: EX-32.1 Certification -- §906 - SOA'02 HTML 19K 6: EX-32.2 Certification -- §906 - SOA'02 HTML 19K 12: R1 Cover Page HTML 72K 13: R2 Condensed Consolidated Statements of Operations HTML 107K (Unaudited) 14: R3 Condensed Consolidated Statements of Comprehensive HTML 54K Earnings (Loss) (Unaudited) 15: R4 Condensed Consolidated Statement of Stockholders' HTML 74K Equity (Unaudited) 16: R5 Condensed Consolidated Statement of Stockholders' HTML 22K Equity (Unaudited) (Parenthetical) 17: R6 Condensed Consolidated Balance Sheets (Unaudited) HTML 158K 18: R7 Condensed Consolidated Balance Sheets (Unaudited) HTML 36K (Parenthetical) 19: R8 Condensed Consolidated Statements of Cash Flows HTML 91K (Unaudited) 20: R9 Financial Information HTML 25K 21: R10 Cash, Cash Equivalents and Restricted Cash HTML 29K 22: R11 Revenue Recognition HTML 58K 23: R12 Inventories HTML 28K 24: R13 Fair Value of Financial Instruments HTML 54K 25: R14 Long-term Debt and Other Credit Arrangements HTML 27K 26: R15 Sale-Leaseback Financing Transaction HTML 34K 27: R16 Leases HTML 53K 28: R17 Earnings Per Share HTML 31K 29: R18 Stock Options and Stock-based Compensation HTML 25K 30: R19 Stockholders' Equity HTML 29K 31: R20 Income Taxes HTML 26K 32: R21 Defined Benefit Pension Plans HTML 40K 33: R22 Segment Information HTML 59K 34: R23 New Accounting Standards HTML 33K 35: R24 Pay vs Performance Disclosure HTML 33K 36: R25 Insider Trading Arrangements HTML 26K 37: R26 New Accounting Standards (Policies) HTML 24K 38: R27 Cash, Cash Equivalents and Restricted Cash HTML 27K (Tables) 39: R28 Revenue Recognition (Tables) HTML 53K 40: R29 Inventories (Tables) HTML 28K 41: R30 Fair Value of Financial Instruments (Tables) HTML 52K 42: R31 Sale-Leaseback Financing Transaction (Tables) HTML 29K 43: R32 Leases (Tables) HTML 48K 44: R33 Earnings Per Share (Tables) HTML 30K 45: R34 Defined Benefit Pension Plans (Tables) HTML 36K 46: R35 Segment Information (Tables) HTML 55K 47: R36 Cash, Cash Equivalents and Restricted Cash HTML 29K (Details) 48: R37 Revenue Recognition - Summary of Net Sales HTML 42K Transferred to Customers at a Point in Time and Over Time (Detail) 49: R38 Revenue Recognition - Additional Information HTML 33K (Detail) 50: R39 Inventories - Summary of Inventories (Detail) HTML 29K 51: R40 Inventories - Additional Information (Detail) HTML 24K 52: R41 Fair Value of Financial Instruments - Summary of HTML 58K Fair Value Hierarchy for Financial Assets and Liabilities Measured Recurring Basis (Detail) 53: R42 Long-term Debt and Other Credit Arrangements HTML 43K (Details) 54: R43 Sale-Leaseback Financing Transaction - Narrative HTML 55K (Details) 55: R44 Sale-Leaseback Financing Transaction - Remaining HTML 35K Future Cash Payments (Details) 56: R45 Leases - Additional Information (Details) HTML 48K 57: R46 Leases - Schedule of Operating and Finance Lease HTML 58K Maturity (Details) 58: R47 Earnings Per Share - Additional Information HTML 22K (Detail) 59: R48 Earnings Per Share Schedule of Earnings Per Common HTML 27K Share (Details) 60: R49 Stock Options and Stock-Based Compensation - HTML 55K Additional Information (Detail) 61: R50 Stockholders' Equity (Details) HTML 41K 62: R51 Income Taxes (Details) HTML 31K 63: R52 Defined Benefit Pension Plans - Additional HTML 26K Information (Detail) 64: R53 Defined Benefit Pension Plans - Pension Expenses HTML 35K (Detail) 65: R54 Segment Information - Additional Information HTML 22K (Detail) 66: R55 Segment Information (Details) HTML 43K 68: XML IDEA XML File -- Filing Summary XML 122K 71: XML XBRL Instance -- kequ-20240131_htm XML 981K 67: EXCEL IDEA Workbook of Financial Report Info XLSX 94K 8: EX-101.CAL XBRL Calculations -- kequ-20240131_cal XML 178K 9: EX-101.DEF XBRL Definitions -- kequ-20240131_def XML 178K 10: EX-101.LAB XBRL Labels -- kequ-20240131_lab XML 1.13M 11: EX-101.PRE XBRL Presentations -- kequ-20240131_pre XML 664K 7: EX-101.SCH XBRL Schema -- kequ-20240131 XSD 122K 69: JSON XBRL Instance as JSON Data -- MetaLinks 410± 577K 70: ZIP XBRL Zipped Folder -- 0000055529-24-000009-xbrl Zip 320K
kequ-20240131 |
i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Delaware | i 38-0715562 | |||||||
(State
or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) | |||||||
i 2700 West Front Street i Statesville, i North
Carolina | i 28677-2927 | |||||||
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||||||||
i Non-accelerated filer | ☒ | Smaller reporting company | i ☒ | |||||||||||||||||
Emerging growth company | i ☐ |
Page Number | ||||||||
Three
Months Ended January 31, | Nine Months Ended January 31, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Net sales | $ | i 46,778 | $ | i 60,821 | $ | i 147,053 | $ | i 165,508 | |||||||||||||||
Cost of products sold | i 34,749 | i 50,491 | i 109,642 | i 140,281 | |||||||||||||||||||
Gross profit | i 12,029 | i 10,330 | i 37,411 | i 25,227 | |||||||||||||||||||
Operating expenses | i 8,223 | i 8,026 | i 24,688 | i 22,564 | |||||||||||||||||||
Operating profit | i 3,806 | i 2,304 | i 12,723 | i 2,663 | |||||||||||||||||||
Pension expense | ( i 41) | ( i 18) | ( i 122) | ( i 53) | |||||||||||||||||||
Other income, net | i 161 | i 210 | i 384 | i 756 | |||||||||||||||||||
Interest expense | ( i 411) | ( i 436) | ( i 1,213) | ( i 1,190) | |||||||||||||||||||
Profit before income taxes | i 3,515 | i 2,060 | i 11,772 | i 2,176 | |||||||||||||||||||
Income tax expense | i 982 | i 962 | i 3,894 | i 1,911 | |||||||||||||||||||
Net earnings | i 2,533 | i 1,098 | i 7,878 | i 265 | |||||||||||||||||||
Less: Net earnings attributable to the non-controlling interest | i 12 | i 375 | i 151 | i 532 | |||||||||||||||||||
Net earnings (loss) attributable to Kewaunee Scientific Corporation | $ | i 2,521 | $ | i 723 | $ | i 7,727 | $ | ( i 267) | |||||||||||||||
Net earnings (loss) per share attributable to Kewaunee Scientific Corporation stockholders | |||||||||||||||||||||||
Basic | $ | i 0.87 | $ | i 0.26 | $ | i 2.68 | $ | ( i 0.09) | |||||||||||||||
Diluted | $ | i 0.85 | $ | i 0.25 | $ | i 2.64 | $ | ( i 0.09) | |||||||||||||||
Weighted average number of common shares outstanding | |||||||||||||||||||||||
Basic | i 2,893 | i 2,830 | i 2,885 | i 2,822 | |||||||||||||||||||
Diluted | i 2,965 | i 2,911 | i 2,927 | i 2,822 |
Three
Months Ended January 31, | Nine Months Ended January 31, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Net earnings | $ | i 2,533 | $ | i 1,098 | $ | i 7,878 | $ | i 265 | |||||||||||||||
Other comprehensive loss, net of tax: | |||||||||||||||||||||||
Foreign currency translation adjustments | ( i 40) | ( i 106) | ( i 435) | ( i 567) | |||||||||||||||||||
Other comprehensive loss | ( i 40) | ( i 106) | ( i 435) | ( i 567) | |||||||||||||||||||
Comprehensive earnings (loss), net of tax | i 2,493 | i 992 | i 7,443 | ( i 302) | |||||||||||||||||||
Less: Comprehensive income attributable to the non-controlling interest | i 12 | i 375 | i 151 | i 532 | |||||||||||||||||||
Comprehensive earnings (loss) attributable to Kewaunee Scientific Corporation | $ | i 2,481 | $ | i 617 | $ | i 7,292 | $ | ( i 834) |
Common Stock | Additional Paid-in Capital | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Loss | Total Kewaunee Scientific Corporation Stockholders' Equity | ||||||||||||||||||||||||||||||
Balance at April 30, 2023 | $ | i 7,084 | $ | i 5,059 | $ | ( i 53) | $ | i 28,761 | $ | ( i 3,442) | $ | i 37,409 | |||||||||||||||||||||||
Net earnings attributable to Kewaunee Scientific Corporation | — | — | — | i 2,474 | — | i 2,474 | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | ( i 144) | ( i 144) | |||||||||||||||||||||||||||||
Stock-based compensation | i 185 | ( i 494) | — | — | — | ( i 309) | |||||||||||||||||||||||||||||
Balance at July 31, 2023 | $ | i 7,269 | $ | i 4,565 | $ | ( i 53) | $ | i 31,235 | $ | ( i 3,586) | $ | i 39,430 | |||||||||||||||||||||||
Net earnings attributable to Kewaunee Scientific Corporation | — | — | — | i 2,732 | — | i 2,732 | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | ( i 251) | ( i 251) | |||||||||||||||||||||||||||||
Stock-based compensation | i — | i 241 | — | — | — | i 241 | |||||||||||||||||||||||||||||
Purchase
of Treasury Stock, i 2,423 shares | — | — | ( i 44) | — | — | ( i 44) | |||||||||||||||||||||||||||||
Balance at October 31, 2023 | $ | i 7,269 | $ | i 4,806 | $ | ( i 97) | $ | i 33,967 | $ | ( i 3,837) | $ | i 42,108 | |||||||||||||||||||||||
Net earnings attributable to Kewaunee Scientific Corporation | — | — | — | i 2,521 | — | i 2,521 | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | ( i 40) | ( i 40) | |||||||||||||||||||||||||||||
Stock-based compensation | i 1 | i 240 | — | — | — | i 241 | |||||||||||||||||||||||||||||
Purchase
of Treasury Stock, i 27,033 shares | — | — | ( i 747) | — | — | ( i 747) | |||||||||||||||||||||||||||||
Balance at January 31, 2024 | $ | i 7,270 | $ | i 5,046 | $ | ( i 844) | $ | i 36,488 | $ | ( i 3,877) | $ | i 44,083 |
Common Stock | Additional Paid-in Capital | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Loss | Total Kewaunee Scientific Corporation Stockholders' Equity | ||||||||||||||||||||||||||||||
Balance at April 30, 2022 | $ | i 6,983 | $ | i 4,483 | $ | ( i 53) | $ | i 28,023 | $ | ( i 3,742) | $ | i 35,694 | |||||||||||||||||||||||
Net loss attributable to Kewaunee Scientific Corporation | — | — | — | ( i 747) | — | ( i 747) | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | ( i 224) | ( i 224) | |||||||||||||||||||||||||||||
Stock-based compensation | i 97 | ( i 134) | — | — | — | ( i 37) | |||||||||||||||||||||||||||||
Balance at July 31, 2022 | $ | i 7,080 | $ | i 4,349 | $ | ( i 53) | $ | i 27,276 | $ | ( i 3,966) | $ | i 34,686 | |||||||||||||||||||||||
Net loss attributable to Kewaunee Scientific Corporation | — | — | — | ( i 243) | — | ( i 243) | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | ( i 237) | ( i 237) | |||||||||||||||||||||||||||||
Stock-based compensation | i 4 | i 192 | — | — | — | i 196 | |||||||||||||||||||||||||||||
Balance at October 31, 2022 | $ | i 7,084 | $ | i 4,541 | $ | ( i 53) | $ | i 27,033 | $ | ( i 4,203) | $ | i 34,402 | |||||||||||||||||||||||
Net earnings attributable to Kewaunee Scientific Corporation | — | — | — | i 723 | — | i 723 | |||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | ( i 106) | ( i 106) | |||||||||||||||||||||||||||||
Stock-based compensation | i — | i 332 | — | — | — | i 332 | |||||||||||||||||||||||||||||
Balance at January 31, 2023 | $ | i 7,084 | $ | i 4,873 | $ | ( i 53) | $ | i 27,756 | $ | ( i 4,309) | $ | i 35,351 |
January 31, 2024 | April 30, 2023 | ||||||||||
(Unaudited) | |||||||||||
Assets | |||||||||||
Current Assets: | |||||||||||
Cash and cash equivalents | $ | i 21,312 | $ | i 8,078 | |||||||
Restricted cash | i 5,800 | i 5,737 | |||||||||
Receivables,
less allowance; $ i 589; $ i 476, on each respective date | i 41,109 | i 46,081 | |||||||||
Inventories | i 21,845 | i 21,889 | |||||||||
Prepaid expenses and other current assets | i 6,090 | i 6,135 | |||||||||
Total Current Assets | i 96,156 | i 87,920 | |||||||||
Property, plant and equipment, at cost | i 64,208 | i 61,368 | |||||||||
Accumulated depreciation | ( i 46,716) | ( i 44,966) | |||||||||
Net Property, Plant and Equipment | i 17,492 | i 16,402 | |||||||||
Right of use assets | i 7,827 | i 9,170 | |||||||||
Other assets | i 4,830 | i 5,406 | |||||||||
Total Assets | $ | i 126,305 | $ | i 118,898 | |||||||
Liabilities and Stockholders' Equity | |||||||||||
Current Liabilities: | |||||||||||
Short-term borrowings | $ | i 3,184 | $ | i 3,587 | |||||||
Current portion of financing liability | i 695 | i 642 | |||||||||
Current portion of financing lease liabilities | i 110 | i 85 | |||||||||
Current portion of operating lease liabilities | i 2,056 | i 1,967 | |||||||||
Accounts payable | i 19,083 | i 23,599 | |||||||||
Employee compensation and amounts withheld | i 5,766 | i 4,304 | |||||||||
Deferred revenue | i 10,248 | i 4,097 | |||||||||
Other accrued expenses | i 1,000 | i 1,772 | |||||||||
Total Current Liabilities | i 42,142 | i 40,053 | |||||||||
Long-term portion of financing liability | i 27,603 | i 28,132 | |||||||||
Long-term portion of financing lease liabilities | i 247 | i 148 | |||||||||
Long-term portion of operating lease liabilities | i 5,741 | i 7,136 | |||||||||
Accrued pension and deferred compensation costs | i 3,655 | i 3,546 | |||||||||
Deferred income taxes | i 1,134 | i 943 | |||||||||
Other non-current liabilities | i 441 | i 455 | |||||||||
Total Liabilities | i 80,963 | i 80,413 | |||||||||
Commitments and Contingencies | i | i | |||||||||
Stockholders' Equity: | |||||||||||
Common stock, $ i i 2.50 /
par value, Authorized – i i 5,000 / shares; Issued – i 2,908
shares; i 2,833 shares; – Outstanding – i 2,875 shares; i 2,830
shares, on each respective date | i 7,270 | i 7,084 | |||||||||
Additional paid-in-capital | i 5,046 | i 5,059 | |||||||||
Retained earnings | i 36,488 | i 28,761 | |||||||||
Accumulated other comprehensive loss | ( i 3,877) | ( i 3,442) | |||||||||
Common
stock in treasury, at cost, i 33 shares; i 3 shares, on each respective date | ( i 844) | ( i 53) | |||||||||
Total Kewaunee Scientific Corporation Stockholders' Equity | i 44,083 | i 37,409 | |||||||||
Non-controlling interest | i 1,259 | i 1,076 | |||||||||
Total Stockholders' Equity | i 45,342 | i 38,485 | |||||||||
Total Liabilities and Stockholders' Equity | $ | i 126,305 | $ | i 118,898 |
Nine Months
Ended January 31, | |||||||||||
2024 | 2023 | ||||||||||
Cash flows from operating activities: | |||||||||||
Net earnings | $ | i 7,878 | $ | i 265 | |||||||
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | |||||||||||
Depreciation | i 2,305 | i 2,142 | |||||||||
Bad debt provision | i 227 | i 79 | |||||||||
Stock-based compensation expense | i 665 | i 699 | |||||||||
Deferred income taxes | i 191 | i 368 | |||||||||
Change in assets and liabilities: | |||||||||||
Receivables | i 4,745 | ( i 2,813) | |||||||||
Inventories | i 44 | i 2,384 | |||||||||
Accounts payable and other accrued expenses | ( i 3,842) | ( i 4,534) | |||||||||
Deferred revenue | i 6,151 | i 1,533 | |||||||||
Other, net | i 55 | ( i 3,670) | |||||||||
Net cash provided by (used in) operating activities | i 18,419 | ( i 3,547) | |||||||||
Cash flows from investing activities: | |||||||||||
Capital expenditures | ( i 3,394) | ( i 1,562) | |||||||||
Net cash used in investing activities | ( i 3,394) | ( i 1,562) | |||||||||
Cash flows from financing activities: | |||||||||||
Proceeds from short-term borrowings | i 112,316 | i 27,742 | |||||||||
Repayments on short-term borrowings | ( i 112,718) | ( i 23,577) | |||||||||
Proceeds from sale-leaseback financing transaction | i — | i 13,473 | |||||||||
Payments on sale-leaseback financing transaction | ( i 476) | ( i 426) | |||||||||
Proceeds from long-term lease obligations | i 202 | i — | |||||||||
Payments on long-term lease obligations | ( i 78) | ( i 123) | |||||||||
Purchase of treasury stock | ( i 791) | i — | |||||||||
Net cash (used in) provided by financing activities | ( i 1,545) | i 17,089 | |||||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ( i 183) | ( i 458) | |||||||||
Increase in cash, cash equivalents and restricted cash | i 13,297 | i 11,522 | |||||||||
Cash, cash equivalents and restricted cash, beginning of period | i 13,815 | i 6,894 | |||||||||
Cash, cash equivalents and restricted cash, end of period | $ | i 27,112 | $ | i 18,416 |
January 31, 2024 | April 30, 2023 | |||||||||||||
Cash and cash equivalents | $ | i 21,312 | $ | i 8,078 | ||||||||||
Restricted cash | i 5,800 | i 5,737 | ||||||||||||
Total cash, cash equivalents and restricted cash | $ | i 27,112 | $ | i 13,815 |
Three Months Ended | |||||||||||||||||||||||||||||||||||
January 31, 2024 | January 31, 2023 | ||||||||||||||||||||||||||||||||||
Domestic | International | Total | Domestic | International | Total | ||||||||||||||||||||||||||||||
Over Time | $ | i 30,207 | $ | i 15,004 | $ | i 45,211 | $ | i 35,373 | $ | i 24,687 | $ | i 60,060 | |||||||||||||||||||||||
Point in Time | i 1,567 | i — | i 1,567 | i 761 | i — | i 761 | |||||||||||||||||||||||||||||
Total | $ | i 31,774 | $ | i 15,004 | $ | i 46,778 | $ | i 36,134 | $ | i 24,687 | $ | i 60,821 |
Nine Months Ended | |||||||||||||||||||||||||||||||||||
January 31, 2024 | January 31, 2023 | ||||||||||||||||||||||||||||||||||
Domestic | International | Total | Domestic | International | Total | ||||||||||||||||||||||||||||||
Over Time | $ | i 96,880 | $ | i 45,674 | $ | i 142,554 | $ | i 107,100 | $ | i 53,915 | $ | i 161,015 | |||||||||||||||||||||||
Point in Time | i 4,499 | i — | i 4,499 | i 4,493 | i — | i 4,493 | |||||||||||||||||||||||||||||
Total | $ | i 101,379 | $ | i 45,674 | $ | i 147,053 | $ | i 111,593 | $ | i 53,915 | $ | i 165,508 |
January 31, 2024 | April 30, 2023 | ||||||||||
Finished products | $ | i 2,491 | $ | i 3,412 | |||||||
Work in process | i 1,608 | i 2,380 | |||||||||
Raw materials | i 17,746 | i 16,097 | |||||||||
Total | $ | i 21,845 | $ | i 21,889 |
January 31, 2024 | ||||||||||||||||||||
Financial Assets | Level 1 | Level 2 | Total | |||||||||||||||||
Trading securities held in non-qualified compensation plans (1) | $ | i 1,323 | $ | i — | $ | i 1,323 | ||||||||||||||
Cash
surrender value of life insurance policies (1) | i — | i 976 | i 976 | |||||||||||||||||
Total | $ | i 1,323 | $ | i 976 | $ | i 2,299 | ||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Non-qualified compensation plans (2) | $ | i — | $ | i 2,898 | $ | i 2,898 | ||||||||||||||
Total | $ | i — | $ | i 2,898 | $ | i 2,898 |
April 30, 2023 | ||||||||||||||||||||
Financial Assets | Level 1 | Level 2 | Total | |||||||||||||||||
Trading securities held in non-qualified compensation plans (1) | $ | i 1,105 | $ | i — | $ | i 1,105 | ||||||||||||||
Cash
surrender value of life insurance policies (1) | i — | i 1,358 | i 1,358 | |||||||||||||||||
Total | $ | i 1,105 | $ | i 1,358 | $ | i 2,463 | ||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Non-qualified compensation plans (2) | $ | i — | $ | i 2,910 | $ | i 2,910 | ||||||||||||||
Total | $ | i — | $ | i 2,910 | $ | i 2,910 |
($ in thousands) | ||||||||
Remainder of 2024 | $ | i 485 | ||||||
2025 | i 1,970 | |||||||
2026 | i 2,009 | |||||||
2027 | i 2,050 | |||||||
2028 | i 2,090 | |||||||
Thereafter | i 33,867 | |||||||
Total Minimum Liability Payments | i 42,471 | |||||||
Imputed Interest | ( i 14,173) | |||||||
Total | $ | i 28,298 |
Operating | Financing | |||||||||||||
Remainder of fiscal 2024 | $ | i 648 | $ | i 18 | ||||||||||
2025 | i 2,288 | i 131 | ||||||||||||
2026 | i 1,934 | i 112 | ||||||||||||
2027 | i 1,656 | i 40 | ||||||||||||
2028 | i 1,121 | i 40 | ||||||||||||
Thereafter | i 1,371 | i 95 | ||||||||||||
Total Minimum Lease Payments | i 9,018 | i 436 | ||||||||||||
Imputed Interest | ( i 1,221) | ( i 79) | ||||||||||||
Total | $ | i 7,797 | $ | i 357 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
January 31, 2024 | January 31, 2023 | January 31, 2024 | January 31, 2023 | ||||||||||||||||||||
Basic | i 2,893 | i 2,830 | i 2,885 | i 2,822 | |||||||||||||||||||
Dilutive effect of stock options and RSUs | i 72 | i 81 | i 42 | i — | |||||||||||||||||||
Weighted average common shares outstanding - diluted | i 2,965 | i 2,911 | i 2,927 | i 2,822 |
Three Months Ended | |||||||||||
January 31, 2024 | January 31, 2023 | ||||||||||
Service cost | $ | i — | $ | i — | |||||||
Interest cost | i 223 | i 211 | |||||||||
Expected return on plan assets | ( i 328) | ( i 350) | |||||||||
Recognition of net loss | i 146 | i 157 | |||||||||
Net periodic pension expense | $ | i 41 | $ | i 18 |
Nine Months Ended | |||||||||||
January 31, 2024 | January 31, 2023 | ||||||||||
Service cost | $ | i — | $ | i — | |||||||
Interest cost | i 670 | i 633 | |||||||||
Expected return on plan assets | ( i 984) | ( i 1,051) | |||||||||
Recognition of net loss | i 436 | i 471 | |||||||||
Net periodic pension expense | $ | i 122 | $ | i 53 |
Domestic Operations | International Operations | Corporate
/ Eliminations | Total | ||||||||||||||||||||
Three Months Ended January 31, 2024 | |||||||||||||||||||||||
Revenues from external customers | $ | i 31,774 | $ | i 15,004 | $ | i — | $ | i 46,778 | |||||||||||||||
Intersegment revenues | i 84 | i 1,412 | ( i 1,496) | i — | |||||||||||||||||||
Earnings (loss) before income taxes | i 2,852 | i 1,732 | ( i 1,069) | i 3,515 | |||||||||||||||||||
Three Months Ended January 31, 2023 | |||||||||||||||||||||||
Revenues from external customers | $ | i 36,134 | $ | i 24,687 | $ | i — | $ | i 60,821 | |||||||||||||||
Intersegment revenues | i 52 | i 3,458 | ( i 3,510) | i — | |||||||||||||||||||
Earnings (loss) before income taxes | i 417 | i 2,787 | ( i 1,144) | i 2,060 |
Domestic Operations | International Operations | Corporate / Eliminations | Total | ||||||||||||||||||||
Nine Months Ended January 31, 2024 | |||||||||||||||||||||||
Revenues from external customers | $ | i 101,379 | $ | i 45,674 | $ | i — | $ | i 147,053 | |||||||||||||||
Intersegment revenues | i 509 | i 3,228 | ( i 3,737) | i — | |||||||||||||||||||
Earnings (loss) before income taxes | i 10,762 | i 4,326 | ( i 3,316) | i 11,772 | |||||||||||||||||||
Nine Months Ended January 31, 2023 | |||||||||||||||||||||||
Revenues from external customers | $ | i 111,593 | $ | i 53,915 | $ | i — | $ | i 165,508 | |||||||||||||||
Intersegment revenues | i 1,498 | i 8,414 | ( i 9,912) | i — | |||||||||||||||||||
Earnings (loss) before income taxes | i 1,006 | i 5,737 | ( i 4,567) | i 2,176 |
Total Number of Shares Purchased (1) | Average
Price Paid Per Share (2) | Total Number of Shares Purchased as Part of Publicly Announced Programs (1) | Number of Shares that May Yet Be Purchased Under the Plans or Programs (1) | ||||||||||||||||||||
November 1 - 30 | 101 | $ | 18.35 | 101 | 97,476 | ||||||||||||||||||
December 1 - 31 | 13,779 | $ | 25.98 | 13,779 | 83,697 | ||||||||||||||||||
January 1 - 31 | 13,153 | $ | 29.25 | 13,153 | 70,544 | ||||||||||||||||||
27,033 | 27,033 |
10.1 | |||||||||||
31.1 | |||||||||||
31.2 | |||||||||||
32.1 | |||||||||||
32.2 | |||||||||||
101.INS | Inline XBRL Instance Document | ||||||||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | ||||||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
KEWAUNEE SCIENTIFIC CORPORATION (Registrant) | |||||||||||
Date: March 8, 2024 | By | /s/ Donald T. Gardner III | |||||||||
Donald T. Gardner III | |||||||||||
(As duly authorized officer and Vice President, Finance and Chief Financial Officer) |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/15/24 | ||||
Filed on: | 3/8/24 | |||
3/5/24 | ||||
For Period end: | 1/31/24 | |||
12/15/23 | 4 | |||
10/31/23 | 10-Q | |||
9/1/23 | 10-Q, 8-K | |||
8/31/23 | 8-K | |||
7/31/23 | 10-Q | |||
6/30/23 | 10-K, 4 | |||
5/1/23 | 4 | |||
4/30/23 | 10-K | |||
1/31/23 | 10-Q | |||
12/15/22 | ||||
10/31/22 | 10-Q | |||
7/31/22 | 10-Q | |||
4/30/22 | 10-K, 5 | |||
3/24/22 | 8-K | |||
12/22/21 | 8-K | |||
4/30/05 | 10-K | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 6/30/23 Kewaunee Scientific Corp./DE 10-K 4/30/23 82:9.7M |