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Note 11 - Significant Transactions - Unaudited Pro Forma Information (Details) - Agena [Member] - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Pro forma total revenues (1) [1] $ 56,659 $ 62,424 $ 163,734 $ 154,172
Pro forma net income (2) [2] $ 477 $ (1,712) $ 7,318 $ (6,082)
[1] Net revenues were adjusted to include net revenues of Agena.
[2] Pro forma adjustments to net earnings attributable to Mesa include the following: Excludes acquisition-related transaction costs incurred in the three and nine months ended December 31, 2021. Excludes interest expense attributable to Agena external debt that was paid off as part of the acquisition. Additional amortization expense of $2,828 and $8,485 for the three and nine month periods presented, respectively, based on the increased fair value of amortizable intangible assets acquired. Additional charge to cost of revenues of $6,062 was included in the three and nine months ended December 31, 2020 based on the step up value of inventory. $6,062 was excluded from the three and nine months ended December 31, 2021 based on the step up value of inventory which would have been fully amortized within the first three months of the acquisition. Additional stock based compensation expense representing expense for performance share units awarded to certain key Agena employees. Income tax effect of applicable adjustments made at a blended federal and state statutory rate (approximately 26%).