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Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Schedule of Business Acquisition | Based on our preliminary valuation, the total estimated purchase price has been allocated to assets acquired (including identifiable intangible assets and goodwill) and liabilities assumed, as follows (in thousands):
Description |  | Fair Value
Cash |  | $ | 396 |
Accounts receivable |  | 7,409 |
Inventories |  | 6,879 |
Prepaid expenses and other current assets |  | 382 |
Property and equipment |  | 4,044 |
Intangibles - customer related |  | 55,000 |
Intangibles - trade name |  | 8,000 |
Goodwill |  | 60,590 |
Operating lease right-of-use assets |  | 2,643 |
Other assets |  | 333 |
Other current liabilities |  | (5,244 | )
Long-term operating lease liabilities |  | (2,376 | )
|  | $ | 138,056 |
Cash consideration |  | $ | 113,056 |
Acquisition date estimated fair value of earn-out obligation |  | 25,000 |
Total |  | $ | 138,056 |
Business Acquisition, Pro Forma Information | The unaudited consolidated pro forma results of operations are as follows (in thousands except per share amounts):
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenue |  | $ | 198,326 |  |  | $ | 181,464 |  |  | $ | 558,915 |  |  | $ | 550,452 |
Net Income |  | $ | 10,532 |  |  | $ | 10,294 |  |  | $ | 27,596 |  |  | $ | 26,465 |
Basic earnings per share |  | $ | 0.96 |  |  | $ | 0.94 |  |  | $ | 2.52 |  |  | $ | 2.43 |
Diluted earnings per share |  | $ | 0.95 |  |  | $ | 0.94 |  |  | $ | 2.50 |  |  | $ | 2.42 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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