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Our products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.
−Removed: Our acquisition, discussed below, of Nu Aire, Inc.
−Removed: ("Nu Aire") complements Kewaunee Scientific's existing portfolio through Nu Aire's biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products.
−Removed: Our International subsidiaries, as identified in Note 1 , Summary of Significant Accounting Policies , of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on 10-K, provide products and services, including facility design, detailed engineering construction, and project management from the planning stage through testing and commissioning of laboratories.
+Added: Our acquisition of Nu Aire, Inc., ("Nu Aire"), completed in November 2024, complements the Company's portfolio through Nu Aire's biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products.
+Added: Nu Aire is renowned for its manufacturing of biological safety cabinets, airflow products, CO2 incubators, ultralow freezers, animal handling equipment, pharmacy compounding isolators, and related parts and accessories.
+Added: Their products serve a diverse range of industries, including life sciences, healthcare, pharmacy, education, food and beverage, and industrial sectors.
+Added: The acquisition of Nu Aire presented a unique opportunity for the Company to combine its robust capabilities with a recognized market leader whose product portfolio and well-developed channel strategy complement the Company's offerings.
+Added: The acquisition also expanded the Company's capabilities, allowing the combined organization to better meet the diverse needs of end-users in laboratory furnishings.
+Added: Additionally, Nu Aire has established distribution partners in regions where the Company did not previously have a presence, accelerating the Company's vision of becoming the market leader in the design and manufacturing of laboratory furniture and technical products essential for outfitting laboratories.
+Added: See Note 4 , Nu Aire Acquisition , of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K for information concerning the nature and terms of the acquisition.
+Added: Our international subsidiaries, as identified in Note 1 , Summary of Significant Accounting Policies , of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K, provide products and services, including facility design, detailed engineering construction, and project management from the planning stage through testing and commissioning of laboratories.
Our products are sold primarily through purchase orders and contracts submitted by customers directly or through our dealers, our subsidiaries in Singapore and India, and a national distributor.
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In addition, payment terms associated with certain projects provide for a retention amount until final completion of the project, thus also increasing required working capital.
−Removed: On average, payments for our products
−Removed: are received during the quarter following shipment, with the exception of the retention amounts which are collected at the final completion of the project.
+Added: On average, payments for our products are received during the quarter following shipment, with the exception of the retention amounts which are collected at the final completion of the project.
We hold various patents and patent rights, but do not consider that our success or growth is dependent upon our patents or patent rights.
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However, it may be expected that delays in shipments will occur because of customer rescheduling or delay in completion of projects which involve the installation of our products.
−Removed: ACQUISITION OF NU AIRE
−Removed: The Company completed the acquisition of Nu Aire on November 1, 2024.
−Removed: Nu Aire is renowned for its manufacturing of biological safety cabinets, airflow products, CO2 incubators, ultralow freezers, animal handling equipment, pharmacy compounding isolators, and related parts and accessories.
−Removed: Their products serve a diverse range of industries, including life sciences, healthcare, pharmacy, education, food and beverage, and industrial sectors.
−Removed: The acquisition of Nu Aire presents a unique opportunity for the Company to combine its robust capabilities with a recognized market leader whose product portfolio and well-developed channel strategy complement the Company's existing offerings.
−Removed: The acquisition also expands the Company's capabilities, allowing the combined organization to better meet the diverse needs of end-users in laboratory furnishings.
−Removed: Additionally, Nu Aire has established distribution partners in regions where the Company has not previously had a presence, accelerating the Company's vision of becoming the market leader in the design and manufacturing of laboratory furniture and technical products essential for outfitting laboratories.
−Removed: See Note 4 , Nu Aire Acquisition , of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K for information concerning the nature and terms of the acquisition.
SEGMENT INFORMATION
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In accordance with ASC 280, Segment Reporting , the Company determined that the CODM assesses the Company's operations and manages its businesses in two segments:
−Removed: Domestic and International.
−Removed: The Domestic segment consists of the Company's operations based out of Statesville, North Carolina and Kewaunee's subsidiary, Nu Aire, Inc., based out of Plymouth, Minnesota.
+Added: Lab Products Group ("LPG") and International.
+Added: The Lab Products Group segment consists of the Company's operations based out of Statesville, North Carolina and Kewaunee's subsidiary, Nu Aire, Inc., based out of Plymouth, Minnesota.
The International segment consists of the foreign subsidiaries identified in Note 1 , Summary of Significant Accounting Policies , of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K.
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We embrace collaboration and creativity, and we encourage the iteration of ideas to address complex challenges within our industry and society.
−Removed: At April 30, 2025, the Company had 793 Domestic employees, including the recent Nu Aire acquisition, and 446 International employees.
+Added: At April 30, 2026, the Company had 755 domestic employees and 476 international employees.
Our people are critical for our continued success, so we work hard to create an environment where employees can have fulfilling careers, and be happy, healthy, and productive.
−Removed: We offer competitive benefits and programs to take care of the diverse needs of our employees and their families.
−Removed: These include opportunities for career growth and development, resources to support their financial health, and access to excellent healthcare choices and resources, including an onsite medical clinic and separate gym facility at Kewaunee's Statesville, NC headquarters, as well as regular access to onsite specialists.
+Added: We offer competitive benefits, an award-winning Well Living program, and other resources to take care of the diverse needs of our employees and their families.
+Added: These include opportunities for career growth and development, resources to support their financial health, and access to excellent healthcare choices and resources, including a recently expanded onsite wellness center and separate gym facility at Kewaunee's Statesville, NC headquarters, as well as regular access to onsite specialists.
Our competitive compensation programs help us attract and retain top candidates.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.