Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of consideration paid and acquisition date fair value of assets acquired and liabilities assumed

The following table summarizes the consideration paid and the acquisition date fair value of the assets acquired and liabilities assumed relating to the transaction (in thousands):

PAC Acquisition	December 31, 2012

Consideration:
Cash	$	4,400
Purchase holdback	600
Contingent note payable, at present value	692
Fair value of total consideration transferred	$	5,692
Acquisition costs (professional fees) included in SG&A	$	57
Recognized amounts of identifiable assets acquired:
Cash	$	804
Accounts receivable	1,375
Inventory	737
Other assets	54
Fixed assets	793
Non-compete	312
Customer list	1,277
Goodwill	841
Total identifiable net assets	6,193
Accounts payable	(312		)
Accrued Expenses	(189		)
Net assets acquired	$	5,692

Schedule of actual operating results for PAC and unaudited pro forma condensed consolidated statement of operations

The Consolidated Statement of Operations for the year ended December 31, 2013 includes the following operating results for PAC (in thousands):

	Year Ended
	December 31,
	2013
Sales	$	10,253
Operating income	438

The following table contains the unaudited pro forma condensed consolidated statements of operations for the years ended December 31, 2012 and 2011, as if the PAC acquisition had occurred at the beginning of 2011 (in thousands):

	Years Ended December 31,
	2012 Proforma (Unaudited)		2011 Proforma (Unaudited)
Sales	$	141,274	$	137,617
Net income	11,559		10,948
Earnings Per Share:
Basic	$	1.73	$	1.69
Diluted	1.64		1.56