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Acquisition
12 Months Ended
Sep. 28, 2012
Acquisition [Abstract]  
Acquisition

18acquisition

On July 11, 2011, the Company purchased the assets of Waypoint Technologies Inc. (“Waypoint”) and Pro Map Technologies Inc. for cash of approximately $4,000.  Waypoint is the maker of LakeMaster® brand high definition electronic lake charts, the premier brand of lake charts for anglers in the Northern United States. The purchase was funded with existing cash and credit facilities.  The Company believes the purchase, combined with the Company’s existing marine electronics products, will present new and innovative opportunities to enhance the fishing experience.  The Waypoint purchase is included in the Company’s Marine Electronics segment. 

 

As part of the acquisitions, the Company acquired a bathymetry database valued at $2,000 which was included in property, plant and equipment.  The Company recognized goodwill of $732 as a result of the acquisition related to expected synergies with the Company’s existing Marine Electronics businesses.  The goodwill acquired as a part of this acquisition is deductible for tax purposes. The acquisition was accounted for using the acquisition method and, accordingly, the Company’s consolidated financial statements include the results of the acquired business’ operations since the date of acquisition.  The Company has not presented pro forma financial information with respect to the acquisition due to the immateriality of the transaction.