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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Net sales $ 206,750 $ 207,102
Cost of sales 137,672 142,833 [1]
Gross profit 69,078 64,269
Selling, general and administrative expenses 44,755 47,113 [2],[3]
Depreciation and amortization 4,458 3,921
Freight out 2,812 2,423
(Gain) loss on disposal of fixed assets 403 (67)
Operating income [4] 16,650 10,879
Interest expense, net 7,386 6,079
Income before income taxes 9,264 4,800
Income tax expense 2,459 1,297
Net income $ 6,805 $ 3,503
Net income per common share:    
Basic $ 0.18 $ 0.09
Diluted $ 0.18 $ 0.09
[1]

(2) The Company recognized $3.1 million of non-cash inventory step-up that was amortized to Cost of sales for the quarter ended March 31, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, as described in Note 3.

[2]

(3) The Company incurred $3.4 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter ended March 31, 2024, of which $3.3 million and $0.1 million are included in Corporate and Material Handling's results, respectively.

[3]

(1) The Company recognized $(0.3) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter ended March 31, 2024, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.

[4]

(4) The Company incurred $2.0 million and $0.2 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter ended March 31, 2025 and 2024, respectively.