Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 17

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 replace a given asset reflects the estimated reproduction or replacement cost for the property, less an allowance for loss in value due to depreciation.The Company believes that the information provided a reasonable basis for estimating the fair values of the acquired assets and assumed liabilities and considers the purchase price allocation finalized as of July 31, 2025, within the measurement period. The amounts allocated to intangible assets are as follows:($ in thousands)Fair ValueEstimated Useful LifeCustomer relationships$9,800 10 yearsTrade names and trademarks4,900 indefiniteDeveloped technology3,900 7 yearsIntangible assets acquired$18,600 The operating results for Nu Aire, which include $19.4 million in revenue and $1.1 million in net earnings for the three months ended October 31, 2025 and $39.1 million in revenue and $1.8 million of net earnings for the six months ended October 31, 2025, are reflected in the accompanying Consolidated Statements of Operations.The following unaudited supplemental pro forma combined financial information presents the Company's results of operations for the three and six months ended October 31, 2024 as if the acquisition of Nu Aire had occurred on May 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the Company's operating results that may have actually occurred had the acquisition of Nu Aire been completed on May 1, 2023. In addition, the unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies, or other synergies that may be associated with the Transaction, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of Nu Aire.Three Months Ended October 31,Six Months Ended October 31,($ in thousands, except per share amounts)2025202420252024(actual)(pro forma)(actual)(pro forma)Net sales$70,096 $66,933 $141,200 $132,381 Net earnings2,445 2,696 5,538 6,969 Net earnings per share attributable to Kewaunee Scientific Corporation stockholders:Basic$0.85 $0.94 $1.94 $2.44 Diluted$0.82 $0.91 $1.86 $2.35 

9

D. Revenue Recognition

The Company recognizes