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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

Schedule of ESWindows Acquisition

The following table includes the financial information as originally reported and the net effect of the ESW acquisition after elimination of intercompany transactions.

		Three months ended June 30, 2016
		Without acquisition				Net effect of acquisition				Considering acquisition
Net Revenues		$	77,513			$	2,300			$	79,813
Net (loss) income attributable to parent		$	14,373			$	306			$	14,679
Basic income per share		$	0.51			$	-			$	0.51
Diluted income per share		$	0.44			$	-			$	0.44
Basic weighted average common shares outstanding			28,155,601				734,400				28,890,001
Diluted weighted average common shares outstanding			32,480,141				734,400				33,214,541

		Six months ended June 30, 2016
		Without acquisition				Net effect of acquisition				Considering acquisition
Net revenues		$	138,416			$	5,252			$	143,668
Net (loss) income attributable to parent		$	28,037			$	998			$	29,035
Basic income per share		$	1.00			$	0.01			$	1.01
Diluted income per share		$	0.86			$	0.01			$	0.87
Basic weighted average common shares outstanding			27,992,868				734,400				28,727,268
Diluted weighted average common shares outstanding			32,492,588				734,400				33,226,988
Cash used in operating activities		$	(7,373	)		$	4,754			$	(2,619	)
Net increase in cash		$	11,039			$	3,415			$	14,454

Summary of Purchase Price Allocation of Total Consideration Transferred

The following table summarizes the purchase price allocation of the total consideration transferred:

Consideration Transferred:
Notes payable (Cash or Stock)		$	35,000
Fair value of the noncontrolling interest in Componenti			1,141

Recognized amounts of identifiable assets acquired and liabilities assumed:		Preliminary Purchase Price Allocation				Measurement Period Adjustments				Adjusted Purchase Price Allocation
Cash and equivalents		$	509								509
Accounts receivable			42,314								42,314
Cost and estimated earnings in excess of billings			4,698								4,698
Other current assets			589								589
Property, plant, and equipment			684								684
Other non-current tangible assets			59								59
Trade name			980								980
Non-compete agreement			165								165
Contract backlog			3,090								3,090
Customer relationships			4,140								4,140
Accounts payable			(22,330	)			275				(22,055	)
Other current liabilities assumed			(13,967	)							(13,967	)
Non-current liabilities assumed			(3,634	)							(3,634	)
Total identifiable net assets			17,297				275				17,572
Goodwill (including Workforce)		$	18,844				(275	)		$	18,569

Schedule of Pro Forma Results of Operations

The unaudited pro forma results do not include the impact of synergies, nor any potential impacts on current or future market conditions which could alter the following unaudited pro forma results.

		Actual				Pro-Forma				Pro-Forma				Pro-Forma
		Three Months				Three Months				Six Months				Six Months
		Ended				Ended				Ended				Ended
(in thousands, except per share amounts)		June 30, 2017				June 30, 2016				June 30, 2017				June 30, 2016
Pro Forma Results
Net sales		$	80,976			$	94,935			$	156,780			$	170,706
Net (loss) income attributable to parent		$	(3,560	)		$	15,138			$	(3,595	)		$	29,843
Net income per common share:
Basic		$	(0.11	)		$	0.52			$	(0.11	)		$	1.04
Diluted		$	(0.11	)		$	0.46			$	(0.11	)		$	0.90

X

- 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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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://www.xbrl.org/2003/role/presentationRef
-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://www.xbrl.org/2003/role/presentationRef
-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

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