Business Combinations (Tables)

3 Months Ended

Sep. 30, 2016

Schedule of assets acquired and liabilities assumed

The following is a preliminary estimate of the assets acquired and the liabilities assumed by OSI Systems in the acquisition, reconciled to total estimated purchase consideration (in thousands):

Cash and cash equivalents	$	79,195
Accounts receivable	25,048
Inventories	30,439
Other current assets	7,368
Property and equipment	5,834
Intangible assets	74,800
Other long-term assets	201
Accounts payable	(5,273		)
Accrued payroll and related expenses	(4,629		)
Deferred revenues — current	(11,281		)
Advances from customers	(13,785		)
Other accrued expenses and current liabilities	(6,426		)
Deferred revenues - long term	(3,225		)
Deferred income tax liability	(9,455		)
Other long-term liabilities	(18,966		)

Net assets acquired	149,845
Goodwill	116,158

Total consideration	$	266,003

Summary of the fair value of acquired identifiable intangible assets as of the acquisition date

The following table summarizes the fair value of acquired identifiable intangible assets as of the acquisition date (amounts in thousands):

	Weighted	Gross
	Average	Carrying
	Lives	Value
Amortizable assets:
Developed technology	10 years	$	31,750
Customer relationships/backlog	7 years	27,550

Total amortizable assets		59,300
Non-amortizable assets:
Trademarks and trade names		12,300
IPR&D		3,200

Total intangible assets		$	74,800

Pro forma results of operations assuming the AS&E acquisition had occurred on July 1, 2015

The following unaudited pro forma results of operations assume the AS&E acquisition had occurred on July 1, 2015 (in thousands):

	Three Months Ended September 30,
	2015		2016
Revenues	$	224,717	$	238,611

Income (loss) before taxes	$	4,705	$	(27,388	)