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Acquisition of Professional Power Products, Inc. (Tables) | 6 Months Ended
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Jun. 30, 2014
Business Combinations [Abstract] |
Summary of Estimates of Fair Value of the Assets Acquired and the Liabilities Assumed as of the Acquisition Date | The purchase price for this acquisition has been provisionally allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows:
|  | April 1, 2014 (Date of Acquisition) |
Assets acquired: |  |  |  |
Cash |  | $ | 1,277 |
Accounts receivable |  |  | 3,989 |
Inventories |  |  | 5,073 |
Prepaid expenses and other current assets |  |  | 243 |
Property, plant & equipment |  |  | 2,596 |
Total tangible assets |  | $ | 13,178 |
Intangible assets: |  |  |  |
Intangible assets |  | $ | 23,500 |
Goodwill |  |  | 22,372 |
Total assets acquired |  | $ | 59,050 |
Liabilities assumed: |  |  |  |
Accounts payable |  | $ | 1,494 |
Accrued liabilities |  |  | 3,257 |
Total liabilities assumed |  | $ | 4,751 |
Net assets acquired |  | $ | 54,299 |
Estimated Useful Lives of Identifiable Intangible Assets | The identifiable intangible assets as a result of the acquisition will be amortized over their respective estimated useful lives as follows:
|  | Asset amount |  |  | Estimated life
Backlog |  | $ | 1,200 |  |  | 18 months
Customer relationships |  |  | 20,600 |  |  | 13 years
Trade names and trademarks |  |  | 1,700 |  |  | 13 years
Total identifiable intangible assets |  | $ | 23,500 |  |  |
Summary of Supplemental Pro Forma Information | The following supplemental pro forma information presents the financial results as if the transaction had occurred on January 1, 2013 as follows:
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2013 |  |  | June 30, 2014 |  |  | June 30, 2013 |
Net sales |  | $ | 67,567 |  |  | $ | 155,293 |  |  | $ | 128,699 |
Net (loss) income |  | $ | (2,343 | ) |  | $ | 6,199 |  |  | $ | (4,684 | )
(Loss) earnings per share, basic |  | $ | (0.25 | ) |  | $ | 0.59 |  |  | $ | (0.51 | )
(Loss) earnings per share, diluted |  | $ | (0.25 | ) |  | $ | 0.56 |  |  | $ | (0.51 | )

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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/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=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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