Company: KEQU
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0000055529-25-000013
Chunk: 18

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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60,801 54,760 Non-controlling interest1,320 1,449 Total Stockholders' Equity62,121 56,209 Total Liabilities and Stockholders' Equity$189,148 $134,766 

See accompanying notes to Condensed Consolidated Financial Statements.

4

Kewaunee Scientific Corporation

Condensed Consolidated Statements of Cash Flows

(Unaudited)

($ in thousands)

 Nine Months EndedJanuary 31, 20252024Cash flows from operating activities:Net earnings$6,636 $7,878 Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:Depreciation and amortization3,184 2,305 Provision for credit losses120 227 Stock-based compensation expense1,071 665 Deferred income taxes(1,982)191 Accrued payment in kind ("PIK") interest463 — Change in assets and liabilities (net of effect of acquisition):Receivables(1,825)4,745 Inventories2,862 44 Accounts payable and other accrued expenses(4,925)(3,842)Deferred revenue2,464 6,151 Other, net(2,692)55 Net cash provided by operating activities5,376 18,419 Cash flows from investing activities:Capital expenditures(1,650)(3,394)Purchase of business, net of cash acquired(28,735)— Net cash used in investing activities(30,385)(3,394)Cash flows from financing activities:Dividends paid to non-controlling interest in subsidiaries(161)— Proceeds from term loan15,000 — Repayments on term loan(500)— Proceeds from short-term borrowings72,191 112,316 Repayments on short-term borrowings(74,158)(112,718)Payments on sale-leaseback financing transaction(529)(476)Proceeds from long-term lease obligations— 202 Payments on long-term lease obligations(94)(78)Purchase of treasury stock— (791)Net cash provided by (used in) financing activities11,749 (1,545)Effect of exchange rate changes on cash, cash equivalents and restricted cash(343)(183)(Decrease) increase in cash, cash equivalents and restricted cash(13,603)13,297 Cash, cash equivalents and restricted cash, beginning of period25