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Acquisitions (Tables)

12 Months Ended

Apr. 30, 2017

BTI Acquisition

Unaudited Pro Forma Results of Operations

The following table reflects the unaudited pro forma results of operations assuming that the BTI Acquisition had occurred on May 1, 2013 (in thousands, except per share data):

		For the Year
		Ended
		April 30, 2015
Net sales		$	582,875
Income from continuing operations			53,388
Net income per share - diluted			0.97

Taylor Brands, LLC, Crimson Trace Corporation and Ultimate Survival Technologies, Inc.

Unaudited Pro Forma Results of Operations

Additionally, the following table reflects the unaudited pro forma results of operations assuming that the 2017 Acquisitions had occurred on May 1, 2015 (in thousands, except per share data):

		For the Year					For the Year
		Ended					Ended
		April 30, 2017					April 30, 2016
Net sales		$	934,247				$	816,699
Income from continuing operations			195,295					151,258
Net income per share - diluted			2.30					1.80

Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated preliminary allocation of the purchase price for the 2017 Acquisitions (in thousands):

		2017 Acquisitions				Measurement
		(As Initially				Period				2017 Acquisitions
		Reported)				Adjustments				(As Adjusted)
Accounts receivable		$	11,635			$	(145	)		$	11,490
Inventories			31,269				453				31,722
Income tax receivable			—				68				68
Other current assets			430				(132	)			298
Property, plant, and equipment			8,232				—				8,232
Intangibles			97,850				—				97,850
Goodwill			92,801				(141	)			92,660
Total assets acquired			242,217				103				242,320
Accounts payable			6,214				18				6,232
Accrued expenses			973				128				1,101
Accrued payroll			1,500				(98	)		1,402
Accrued income taxes			6				(6	)			—
Accrued warranty			98				96				194
Deferred income taxes			20,658				(35	)			20,623
Total liabilities assumed			29,449				103				29,552
		$	212,768			$	—			$	212,768

Identifiable Intangible Assets Acquired and Respective Weighted Average Lives

The following are the identifiable intangible assets acquired (in thousands) in the 2017 Acquisitions and their respective weighted average lives:

							Weighted Average
		Amount					Life (In years)
Developed technology		$	3,000					4.1
Customer relationships			76,600					5.1
Trade names			17,000					4.8
Order backlog			1,150					0.3
Non-competition agreement			100					3.4
		$	97,850

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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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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+ References

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-Publisher FASB
-Name Accounting Standards Codification
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