Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 16

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 flows (including appropriate revenue attributable to the asset, applicable tax rate, royalty rate, and other factors such as technology related obsolescence rates), the discount rate, reflecting the risks inherent in the future cash flow stream, and the tax amortization benefit, among other factors.•The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used for property, plant, and equipment. The cost to 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 results of operations for Nu Aire of $19.7 million of revenue and $696,000 of net earnings for the three months ended July 31, 2025, have been included within the accompanying Consolidated Statements of Operations.The following unaudited supplemental pro forma combined financial information presents the Company's results of operations for the three months ended July 31, 2024 as if the acquisition of Nu Aire had occurred on May 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the Company's operating results that may have actually occurred had the acquisition of Nu Aire been completed on May 1, 2023. In addition, the unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies, or other synergies that may be associated with the Transaction, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of Nu Aire.Three Months Ended July 31,($ in thousands, except per share amounts)20252024(actual)(pro forma)Net sales$71,104 $65,448 Net earnings$3,093 $4,273 Net earnings per share attributable to Kewaunee Scientific Corporation stockholders:Basic$1.08 $1.50 Diluted$1.04 $1.44 

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