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Acquisitions (Tables) | 12 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Schedule of Purchase Price |
The computation of the purchase price consideration and the allocation thereof to the net assets acquired are presented in the following tables (in thousands):
Purchase price consideration: |  |  |
Cash consideration, net of cash acquired(a) |  | $ | 13,394 |
Stock consideration(b) |  |  | 16,053 |
Total purchase price consideration, net of cash acquired |  | $ | 29,447 |
(a)Includes $18.5 million, net of $5.1 million of cash acquired. (b)Calculated as 2,044,990 shares of common stock, multiplied by $7.85, the closing price of the Company’s common stock on the closing date.
Schedule of Allocation of Purchase Price Consideration |
Allocation of purchase price consideration (in thousands): |  |  |
Accounts receivable |  | $ | 8,597 |
Inventory |  |  | 3,429 |
Other assets |  |  | 2,623 |
Property, plant and equipment |  |  | 879 |
Intangible assets |  |  | 6,464 |
Accounts payable and accrued expenses |  |  | (6,549 | )
Customer deposits |  |  | (4,247 | )
Billings in excess of costs on uncompleted contracts |  |  | (3,888 | )
Total identifiable net assets |  |  | 7,308 |
Goodwill |  |  | 22,139 |
Total |  | $ | 29,447 |
Schedule of Supplemental Pro Forma Results of Operations |
The following unaudited supplemental pro forma information presents the results of operations of the Company, after giving effect to the Western State Design Acquisition and Martin-Ray Acquisition, as if the Company had completed the Western State Design Acquisition and related financing transactions and Martin-Ray Acquisition on July 1, 2015, using the estimated fair values of the assets acquired and liabilities assumed. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the Western State Design Acquisition and Martin-Ray Acquisition had occurred on the date assumed, nor are they indicative of future results of operations.
|  |  | For the year ended June 30, |
(in thousands) |  |  | 2017 (Unaudited) |  |  |  | 2016 (Unaudited) |
Revenues |  | $ | 120,012 |  |  | $ | 113,012 |
Net income |  |  | 4,139 |  |  |  | 3,879 |

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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 a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -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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