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BUSINESS ACQUISITION (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following summarizes the preliminary allocation of the purchase price as of June 30, 2017 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Cash and cash equivalents | $ | 16,512 |  |
Short-term investments | 19,238 |  |
Accounts receivable | 8,949 |  |
Inventory | 17,977 |  |
Prepaid expenses and other current assets | 4,369 |  |
Property, plant and equipment | 4,311 |  |
Intangible assets: |  | Wtd. Avg. Life:
Customer relationship | 78,300 |  | 14 years
Trademarks/brand names | 13,500 |  | 15 years
Completed technology | 11,600 |  | 14 years
Non-compete agreement | 280 |  | 1 year
Goodwill | 70,700 |  |
Deferred tax assets | 17,820 |  |
Other assets | 101 |  |
Total assets acquired | 263,657 |  |
Accounts payable | 4,560 |  |
Accrued expenses and other current liabilities | 7,347 |  |
Contingent liability | 37,174 |  |
Other liabilities | 3,805 |  |
Net assets acquired | $ | 210,771 |  |
The following summarizes the preliminary allocation of the purchase price as of June 30, 2017 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Cash and cash equivalents | $ | 49 |  |
Accounts receivables | 279 |  |
Property, plant and equipment | 3 |  |
Intangible assets: |  | Wtd. Avg. Life:
Completed technology | 4,707 |  | 13 Years
Goodwill | 541 |  |
Total assets acquired | 5,579 |  |
Accounts payable | 13 |  |
Accrued expenses and other current liabilities | 65 |  |
Other liabilities | 234 |  |
Net assets acquired | $ | 5,267 |  |
Pro Forma Information | As a result, these pro forma results do not necessarily represent results that would have occurred if the acquisition had taken place on the basis assumed above, nor are they indicative of the results of future combined operations.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2016 |  | 2017 |  | 2016
| (In thousands, except per share amounts)
Total revenue |  | $ | 271,737 |  |  | $ | 553,625 |  |  | $ | 528,750 |
Net income |  | $ | 12,733 |  |  | $ | 19,878 |  |  | $ | 15,218 |
Basic income per share |  | $ | 0.17 |  |  | $ | 0.26 |  |  | $ | 0.20 |

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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=79982066&loc=d3e1392-128463 + 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=84161108&loc=d3e4845-128472 + Details
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