Acquisition (Tables)

9 Months Ended

Mar. 31, 2015

The Company expects the allocation of the consideration transferred to be final within the measurement period (up to one year from the acquisition date).


(in thousands)	Estimated Fair Value
Current assets	$	3,078
Real property		20,715
Equipment		1,625
Other assets		43
Goodwill		16,576
Current liabilities		(4,412	)
Long-term liabilities		(6,672	)
Deferred grants		(10,838	)

Total purchase price	$	20,115

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

Allocation of Consideration Transferred for Crescendo

The Company’s allocation of consideration transferred for Crescendo is as follows:


(In thousands)	Estimated Fair Value
Other assets acquired	$	15,826
Intangible assets		196,600
Goodwill		112,331

Total assets acquired		324,757

Deferred tax liability		44,213
Other liabilities assumed		21,594

Total net assets acquired	$	258,950

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, 2013, 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, 2013.


(In thousands)	Three months ended March 31,				Nine months ended March 31,
	2015		2014		2015		2014
Revenue	$	179,985	$	188,693	$	533,216	$	618,743
Income from operations	$	35,740	$	47,396	$	98,002	$	199,380
Net income	$	21,475	$	29,173	$	61,488	$	122,316

Net income per share, basic	$	0.30	$	0.40	$	0.85	$	1.61
Net income per share, diluted	$	0.29	$	0.38	$	0.82	$	1.56