Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 300

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 8
Chunk 300
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 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 discussed in Note 4, Nu Aire Acquisition. See Note 4, Nu Aire Acquisition, for further information.Also in connection with the Nu Aire Acquisition, the Company recorded other intangible assets on November 1, 2024 of $18.6 million on its Condensed Consolidated Balance Sheet. See Note 4, Nu Aire Acquisition for additional information. The gross carrying amount and accumulated amortization of the Company's intangible assets other than goodwill as of April 30, 2025 were as follows:April 30, 2025($ in thousands)Estimated Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer relationships10 years$9,800 $(490)$9,310 Trade names and trademarksIndefinite4,900 — 4,900 Developed technology7 years3,900 (279)3,621 Total$18,600 $(769)$17,831 The Company recorded amortization expense of $0.8 million for the fiscal year ended April 30, 2025. Expected future amortization expense related to intangible assets, net as of April 30, 2025, excluding trade names and trademarks, are as follows:($ in thousands)2026$1,537