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Business Combinations (Tables) | 12 Months Ended
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Jun. 30, 2019
ETD |
ACQUISITION ACTIVITY |
Schedule of assets acquired and liabilities assumed | The major classes of assets and liabilities, reconciled to total purchase consideration (in thousands):
Cash and cash equivalents |  | $ | 4
Accounts receivable, net |  |  | 15,517
Inventories |  |  | 11,678
Property and equipment |  |  | 1,599
Intangible assets |  |  | 30,370
Deferred tax asset |  |  | 2,738
Other long-term assets |  |  | 297
Accounts payable |  |  | (4,784)
Accrued payroll and related expenses |  |  | (2,116)
Deferred revenues—current |  |  | (924)
Accrued warranties |  |  | (2,068)
Advances from customers |  |  | (670)
Other accrued expenses and current liabilities |  |  | (1,074)
Deferred revenues—long term |  |  | (232)
Net assets acquired |  |  | 50,335
Goodwill |  |  | 30,132
Total consideration |  | $ | 80,467
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 |  |
|  | Average |  |
|  | Lives |  | Fair Value
Amortizable assets: |  |  |  |  |
Developed technology |  | 10 years |  | $ | 14,210
Customer relationships/backlog |  | 7 years |  |  | 16,070
In-process research and development ("IPR&D") |  |  |  |  | 90
Total intangible assets |  |  |  | $ | 30,370
Unaudited pro forma results of operations assuming the acquisitions had occurred on July 1, 2017 and 2016 | The following unaudited pro forma results of operations assume the ETD acquisition had occurred on July 1, 2016 (in thousands):
|  | 2017
Revenues |  | $ | 1,036,814
Income from operations |  | $ | 46,725
AS&E |
ACQUISITION ACTIVITY |
Schedule of assets acquired and liabilities assumed | The major classes of assets and liabilities, reconciled to total purchase consideration (in thousands):
Cash and cash equivalents |  | $ | 79,195
Accounts receivable |  |  | 24,607
Inventories |  |  | 27,495
Other current assets |  |  | 7,450
Property and equipment |  |  | 5,337
Intangible assets |  |  | 74,800
Other long—term assets |  |  | 201
Accounts payable |  |  | (5,044)
Accrued payroll and related expenses |  |  | (4,723)
Deferred revenues—current |  |  | (11,281)
Advances from customers |  |  | (13,784)
Other accrued expenses and current liabilities |  |  | (7,279)
Deferred revenues—long term |  |  | (3,225)
Deferred income tax liability |  |  | (9,580)
Other long—term liabilities |  |  | (14,004)
Net assets acquired |  |  | 150,165
Goodwill |  |  | 115,838
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 |  | Value
|  | Lives |  | Carrying
Amortizable assets: |  |  |  |  |
Developed technology |  | 10 years |  | $ | 31,750
Customer relationships/backlog |  | 7 years |  |  | 27,550
In—process research and development (“IPR&D”) |  | 5 years |  |  | 3,200
Total amortizable assets |  |  |  |  | 62,500
Non—amortizable assets: |  |  |  |  |
Trademarks and trade names |  |  |  |  | 12,300
Total intangible assets |  |  |  | $ | 74,800
Unaudited pro forma results of operations assuming the acquisitions had occurred on July 1, 2017 and 2016 | The following unaudited pro forma results of operations assume the AS&E acquisition had occurred on July 1, 2016 (in thousands):
|  | 2017
Revenues |  | $ | 978,706
Income before taxes |  | $ | 5,856

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