Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 175

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 1A
Chunk 175
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 of matters related to the Transaction. The Company expects to complete the purchase price allocation as soon as practicable, but no later than one year from the Closing Date.The amounts, based on preliminary valuations and subject to final adjustment, allocated to intangible assets are as follows:($ in thousands)Preliminary Fair ValueEstimated Useful LifeCustomer relationships$9,800 10 yearsTrade names and trademarks4,900 IndefiniteDeveloped technology3,900 7 yearsIntangible assets acquired$18,600 Since the Closing Date, the results of operations for Nu Aire of $37.8 million of revenue and $0.6 million of net earnings for the six months ended April 30, 2025, have been included within the accompanying Consolidated Statements of Operations.The following unaudited supplemental pro forma combined financial information presents the Company's results of operations for the twelve months ended April 30, 2025 and 2024 as if the acquisition of Nu Aire had occurred on May 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the Company's operating results that may have actually occurred had the acquisition of Nu Aire been completed on May 1, 2023. In addition, the unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies, or other synergies that may be associated with the Transaction, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of Nu Aire.Twelve Months Ended April 30,($ in thousands, except per share amounts)20252024Net sales$276,696 $284,630 Net earnings11,661 19,293 Net earnings per share attributable to Kewaunee Scientific Corporation stockholders:Basic$4.07 $6.70 Diluted$3.91 $6.57 

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Note 5—Goodwill & Other Intangible Assets

In connection with the Nu Aire Acquisition, on November 1, 2024, the Company recorded goodwill of $14.2 million on its Condensed Consolidated Balance Sheet. See Note 4, Nu Aire Acquisition for additional information. No impairment losses on goodwill were recorded during the six months ended April 30, 2025. The ending balance of goodwill at April 30, 2025 was approximately $12.5 million after the impact of the measurement adjustment