Company: KEQU
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0000055529-25-000013
Chunk: 23

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 that have been or will be incurred by the Company to integrate the assets and operations of Nu Aire.Three Months Ended January 31,Nine Months Ended January 31,($ in thousands, except per share amounts)2025202420252024Net sales$67,167 $66,914 $199,548 $208,948 Net earnings1,856 3,284 6,812 7,905 Net earnings per share attributable to Kewaunee Scientific Corporation stockholders:Basic$0.65 $1.14 $2.38 $2.74 Diluted$0.62 $1.11 $2.29 $2.70 

D. Revenue Recognition

The Company recognizes revenue when control of a good or service promised in a contract (i.e., performance obligation) is transferred to a customer. Control is obtained when a customer has the ability to direct the use of and obtain substantially all of the remaining benefits from that good or service. The majority of the Company's revenues are recognized over time as the customer receives control as the Company performs work under a contract. However, a portion of the Company's revenues are recognized at a point-in-time as control is transferred at a distinct point in time per the terms of a contract.

9

Disaggregated RevenueA summary of net sales transferred to customers over time and at a point in time for the periods ended January 31, 2025 and January 31, 2024 is as follows (in thousands):Three Months Ended January 31, 2025January 31, 2024 DomesticInternationalTotalDomesticInternationalTotalOver Time$33,082 $15,191 $48,273 $30,207 $15,004 $45,211 Point in Time18,894 — 18,894 1,567 — 1,567 Total$51,976 $15,191 $67,167 $31,774 $15,004 $46,778 Nine Months Ended January 31, 2025January 31, 2024 DomesticInternationalTotalDomesticInternationalTotalOver Time$102,594 $39,416 $142,010 $96,880 $45,674 $142,554 Point in Time21,314 — 21,314 4,499 — 4,499