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BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 27, 2019

E3, Inc.

Schedule of consideration for the acquisition

		E3, Inc.
			(in thousands)
Cash paid		$	25,217
Other working capital adjustment			1,973
Issuance of common stock			5,000
Contingent Consideration			7,000
Total consideration		$	39,190

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

		E3, Inc.
			(in thousands)
Current assets		$	5,316
Non-current assets (1)			341
Cash			2,264
Equipment and leasehold improvements, net			409
Right-of-use assets			6,766
Current lease liability			(593)
Non-current lease liability			(7,870)
Liabilities			(3,138)
Backlog			2,500
Customer relationships			8,300
Tradename			2,000
Non-compete			900
Goodwill			21,995
Net assets acquired		$	39,190

(1) Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, backlog and goodwill.

Onsite Energy Corporation

Schedule of consideration for the acquisition

		Onsite Energy
			(in thousands)
Cash paid		$	24,411
Other working capital adjustment			494
Total consideration		$	24,905

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

		Onsite Energy
			(in thousands)
Current assets		$	22,254
Non-current assets (1)			10
Equipment and leasehold improvements, net			39
Right-of-use assets			828
Current lease liability			(168)
Non-current lease liability			(660)
Liabilities			(12,222)
Backlog			800
Customer relationships			7,374
Tradename			500
Goodwill			6,150
Net assets acquired		$	24,905

(1) Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, backlog and goodwill.

The Weidt Group

Schedule of consideration for the acquisition

		The Weidt Group
			(in thousands)
Cash paid		$	22,136
Other working capital adjustment			-
Total consideration		$	22,136

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

		The Weidt Group
			(in thousands)
Current assets		$	2,317
Non-current assets (1)			25
Equipment and leasehold improvements, net			198
Right-of-use assets			1,730
Current lease liability			(245)
Non-current lease liability			(1,533)
Liabilities			(612)
Backlog			750
Customer relationships			4,240
Tradename			550
Developed technology			3,170
Goodwill			11,546
Net assets acquired		$	22,136

(1) Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, developed technology, backlog and goodwill.

Lime Energy

Schedule of consideration for the acquisition

		Lime Energy
			(in thousands)
Cash paid		$	122,439
Other working capital adjustment			-
Total consideration		$	122,439

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

		Lime Energy
			(in thousands)
Current assets (1)		$	45,401
Non-current assets (2)			10,605
Cash			1,090
Equipment and leasehold improvements, net			1,892
Liabilities			(33,603)
Customer relationships			35,000
Tradename			5,970
Developed technology			7,040
Backlog			1,300
Goodwill			47,744
Net assets acquired		$	122,439

(1) Excluded from current assets is cash

(2) Excluded from non-current assets are equipment and leasehold improvements, net, customer relationships, tradename, developed technology, backlog and goodwill.

Schedule of unaudited pro forma financial information

		Fiscal Year
		2019			2018
		(in thousands, except per share data)
Pro forma revenue		$	473,655		$	452,082
Pro forma income from operations		$	10,937		$	19,694
Pro forma net income (1)		$	6,161		$	11,934
Earnings per share:
Basic		$	0.55		$	1.09
Diluted		$	0.52		$	1.04
Weighted average shares outstanding:
Basic			11,162			10,990
Diluted			11,766			11,489

(1) Adjustments to pro forma net income include income from operations, amortization and interest expenses.

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