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Acquisition (Tables) | 9 Months Ended
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Mar. 31, 2014
Reconciliation of Consideration Transferred to Total Cash Paid to Acquire Business | The following table reconciles consideration transferred to the total cash paid to acquire Crescendo:
(In thousands) |  |  |
Total consideration transferred |  | $ | 258,950 |
Share-based compensation to Crescendo employees |  |  | 6,929 |
Change of control payments to Crescendo employees |  |  | 5,695 |
Offset: Non-cash fair value purchase option |  |  | (8,000 | )
Total cash paid |  | $ | 263,574 |
Preliminary Allocation of Consideration Transferred for Crescendo | The Company’s preliminary allocation of consideration transferred for Crescendo is as follows (in thousands):
|  | Estimated |
(In thousands) |  | Fair Value |
Other assets acquired |  | $ | 15,826 |
Intangible assets |  |  | 196,600 |
Goodwill |  |  | 109,896 |
Total assets acquired |  |  | 322,322 |
Deferred tax liability |  |  | 41,778 |
Other liabilities assumed |  |  | 21,594 |
Total net assets acquired |  | $ | 258,950 |
Share-Based Compensation Expense Recognized for Accelerated Vesting of Employee Options | The share-based compensation expense recognized for the accelerated vesting of employee options immediately prior to the acquisition was reported in the Company’s Condensed Consolidated Statements of Income as follows:
(In thousands) |  |  |
Cost of molecular diagnostic testing |  | $ | 185 |
Research and development expense |  |  | 2,075 |
Selling, general, and administrative expense |  |  | 4,669 |
Total share-based compensation |  | $ | 6,929 |
Change of Control Expense Recognized for Bonuses Paid to Crescendo Employees and Directors | The change of control expense recognized for bonuses paid to Crescendo employees and directors for completion of the acquisition with Myriad was reported in the Company’s Condensed Consolidated Statements of Income as follow:
(In thousands) |  |  |
Cost of molecular diagnostic testing |  | $ | 238 |
Research and development expense |  |  | 1,710 |
Selling, general, and administrative expense |  |  | 3,747 |
Total change of control bonuses |  | $ | 5,695 |
Pro-forma Results of Acquisitions | The unaudited pro-forma results presented below include the effects of the Crescendo acquisition as if it had been consummated as of July 1, 2012, with adjustments to give effect to pro forma events that are directly attributable to the acquisition which includes adjustments related to the amortization of acquired intangible assets, interest income and expense, stock-based compensation expense, and depreciation. The unaudited pro forma results do not reflect any operating efficiency or potential cost savings which may result from the consolidation of Crescendo. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented nor are they indicative of future results of operations and are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of July 1, 2012.
|  | Three months ended |  |  | Nine months ended |
|  | March 31, |  |  | March 31, |
(In thousands) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Revenue |  | $ | 188,693 |  |  | $ | 158,356 |  |  | $ | 618,743 |  |  | $ | 443,820 |
Income from operations |  |  | 47,396 |  |  |  | 46,384 |  |  |  | 199,380 |  |  |  | 126,291 |
Net income |  | $ | 29,173 |  |  | $ | 28,622 |  |  | $ | 122,316 |  |  | $ | 75,092 |
Net income per share, basic |  | $ | 0.40 |  |  | $ | 0.36 |  |  | $ | 1.61 |  |  | $ | 0.92 |
Net income per share, diluted |  | $ | 0.38 |  |  | $ | 0.35 |  |  | $ | 1.56 |  |  | $ | 0.90 |

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