Business Combinations (Tables)

9 Months Ended

Mar. 31, 2017

Schedule of assets acquired and liabilities assumed

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

Cash and cash equivalents	$	79,195
Accounts receivable	25,048
Inventories	29,725
Other current assets	7,283
Property and equipment	5,722
Intangible assets	74,800
Other long-term assets	201
Accounts payable	(5,273		)
Accrued payroll and related expenses	(4,723		)
Deferred revenues — current	(11,281		)
Advances from customers	(13,785		)
Other accrued expenses and current liabilities	(7,416		)
Deferred revenues — long term	(3,225		)
Deferred income tax liability	(9,067		)
Other long-term liabilities	(17,966		)

Net assets acquired	149,238
Goodwill	116,765

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 (dollar 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
In-process research and development (“IPR&D”)		3,200

Total intangible assets		$	74,800

Unaudited 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 March 31,				Nine Months Ended March 31,
	2016		2017		2016		2017
Revenues	$	235,038	$	245,146	$	607,645	$	726,304

Income before taxes	$	5,161	$	19,593	$	2,455	$	6,707