Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 54

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 Domestic and International. The Domestic business segment principally designs, manufactures, and installs scientific and technical furniture, including steel and wood laboratory cabinetry, fume hoods, flexible systems, worksurfaces, workstations, workbenches, and computer enclosures. On November 1, 2024, the Company completed its acquisition of Nu Aire, whose operating results are reflected in the Domestic Operations segment, expanding the Company's Domestic capabilities through its manufacturing of biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products. See Note C, Nu Aire Acquisition, for further information.  The International business segment, which consists of the Company's foreign subsidiaries, provides products and services, including facility design, detailed engineering, construction, and project management from the planning stage through testing and commissioning of laboratories.The Company's Chief Operating Decision Maker ("CODM") is its CEO, who evaluates the performance of each segment and measures its segment profitability based on earnings before income taxes. Some Corporate expenses, such as those related to executive management, finance, etc., are allocated to the segments. Certain corporate expenses shown below are net of expenses that have been allocated to the business segments. We periodically review these allocations and adjust them based upon changes in business circumstance. Intersegment transactions are recorded at normal profit margins. All intercompany balances and transactions have been eliminated.The following tables provide financial information by business segment and unallocated corporate expenses for the periods ended July 31, 2025 and 2024 (in thousands):

DomesticOperationsInternationalOperationsCorporate /EliminationsTotalThree Months Ended July 31, 2025Revenues from external customers$54,352 $16,752 $— $71,104 Intersegment revenues85 1,039 (1,124)— Depreciation and amortization1,428 96 25 1,549 Interest expense313 13 732 1,058 Earnings (loss) before income taxes5,835 1,143 (3,058)3,920 Income tax expense (benefit)1,113 434 (786)761 Net earnings attributable to non-controlling interest— 66 — 66 Net earnings (loss) attributable to Kewaunee Scientific Corporation4,722 643 (2,272)3,093 Segment assets153,302 40,184 — 193,486 Expenditures for segment assets671 100