Business Combinations (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:

Assets Acquired
Accounts receivable	$	791
Inventories		310
Other current assets		82
Property, plant, and equipment, net		414
Other assets		5
Acquired intangible assets		8,400
Goodwill		9,994
Total assets acquired		19,996
Liabilities Assumed
Current liabilities		1,180
Notes payable, short-term		730
Deferred tax liability		445
Other long-term liabilities		74
Total liabilities assumed		2,429
Net Assets Acquired		17,567
Estimated fair value of contingent consideration		(4,350	)
Net Cash Paid (net of cash acquired of $103)	$	13,217

Summary of Identifiable Intangible Assets Subject to Amortization on Straight-line Basis and Being Amortized over Estimated Useful Lives

The identifiable intangible assets principally included developed technology, customer relationships, and tradenames, all of which are subject to amortization on a straight-line basis and are being amortized over estimated useful lives as summarized below:

	Estimated Useful
Description	Life (in yrs)	Amount
Developed Technology	10	$	5,000
Customer relationships	10		2,200
Tradenames	8.34		1,200
Total acquired intangibles		$	8,400

Summary of Unaudited Pro Forma Financial Information

The unaudited pro forma results presented below include the results of the CoreBiome and Novosanis acquisitions as if they had been consummated as of January 1, 2018. The unaudited pro forma results include the amortization associated with acquired intangible assets and the estimated tax effect of adjustments to income before income taxes but do not include changes in the fair value of our contingent consideration obligations. Material nonrecurring charges, directly attributable to the transactions, including direct acquisition costs, are also excluded. In addition, the unaudited pro forma results do not include any expected benefits of the acquisitions. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of January 1, 2018.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018

Revenue	$	35,989	$	46,628	$	104,937	$	133,150
Net income		13,078		7,649		14,218		7,335
Net income per share, basic and diluted		0.21		0.12		0.23		0.11