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Note 2 - Acquisitions Dispositions | 6 Months Ended
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Sep. 30, 2014
Disclosure Text Block Supplement [Abstract] |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 2 – Acquisition s and Dispositions Acquisitions For the six months ended September 30, 2014, our acquisitions of businesses (net of cash acquired) totaled $13,817,000, which consisted primarily of the following material acquisition: BGI On April 15, 2014, we completed a business combination (the “BGI Acquisition”) whereby we acquired substantially all of the assets (other than cash and accounts receivable) and certain liabilities of BGI, Incorporated and BGI Instruments, Inc. (collectively “BGI”), a business focused on the sale of equipment primarily used for particulate air sampling. The purchase price for the acquired assets was $10,268,000. We expect to achieve savings and generate growth as we integrate the BGI operations and sales and marketing functions. These factors, among others, contributed to a purchase price in excess of the estimated fair value of the net identifiable assets acquired and, as a result, we recorded goodwill in connection with this transaction. The goodwill is expected to be deductible for tax purposes and it was assigned to our Instruments segment. The BGI Acquisition constituted the acquisition of a business and was recognized at fair value. We determined the estimated fair values using discounted cash flow analyses and estimates made by management. The following reflects our allocation of the consideration, subject to customary purchase price adjustments in accordance with the BGI Agreement (in thousands):
Inventories, net |  | $ | 1,268 |
Property, plant and equipment, net |  |  | 47 |
Intangibles, net |  |  | 5,711 |
Goodwill |  |  | 3,295 |
Accrued expenses |  |  | (53 | )
Total purchase price allocation |  | $ | 10,268 |
The accompanying condensed consolidated statements of income include the results of the BGI Acquisition from the acquisition date of April 15, 2014. The pro forma effects of the acquisition on the results of operations as if the acquisition had been completed on April 1, 2014 and 2013, are as follows (in thousands, except per share data):
|  | Three Months E nded September 30, |  |  | Six Months E nded September 30, |
|  | 201 4 |  |  | 201 3 |  |  | 201 4 |  |  | 201 3 |
Revenues |  | $ | 18,540 |  |  | $ | 14,592 |  |  | $ | 35,258 |  |  | $ | 27,726 |
Net income |  |  | 3,060 |  |  |  | 2,467 |  |  |  | 5,019 |  |  |  | 4,863 |
Net Income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.87 |  |  | $ | 0.72 |  |  | $ | 1.43 |  |  | $ | 1.43 |
Diluted |  |  | 0.84 |  |  |  | 0.69 |  |  |  | 1.38 |  |  |  | 1.36 |
Dispositions On August 12, 2013, we entered into an agreement whereby we sold our NuSonics product line for $661,000. The carrying value of this product line was $193,000 which resulted in a pre-tax gain of $468,000.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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