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Business Combination (Notes) | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Business Combination Disclosure [Text Block] |
Accounts Receivable |  | $ | 7,677,000 |
Inventory |  | 6,523,000 |
Other Current Assets |  | 832,000 |
Property and Equipment |  | 12,994,000 |
Intangibles |  | 16,770,000 |
Goodwill |  | 21,476,000 |
Accounts Payable |  | (3,181,000 | )
Other Current Liabilities |  | (86,000 | )
|  | $ | 63,005,000 |
The purchase price included consideration for strategic benefits, including an assembled workforce, operational infrastructure and synergistic revenue opportunities, which resulted in the recognition of goodwill. The goodwill is deductible for income tax purposes. The company incurred $1,289,000 and $596,000 of expense in 2018 and 2017, respectively, associated with the acquisition, which is recorded in selling, general and administrative expense. The amount allocated to intangible assets has been attributed to the following categories and will be amortized over the useful lives of each individual asset identified on a straight-line basis as follows:
Acquired Intangible Assets |  | Estimated Fair Value | Estimated Useful Life (Years)
Non-competition Agreement |  | $ | 1,810,000 |  | 5
Trademarks |  | 1,610,000 |  | 10
Developed Technology |  | 4,420,000 |  | 7
Customer Relationships |  | 8,930,000 |  | 12
Total |  | $ | 16,770,000 |  |
Pro Forma Information The unaudited pro forma information for the combined results of the Company has been prepared as if the 2018 acquisitions had taken place on January 1, 2017. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2017 and the unaudited pro forma information does not purport to be indicative of future financial operating results.
| Pro forma for the year ended December 31,
| 2018 |  | 2017
Net revenue | $ | 272,153,000 |  |  | $ | 222,015,000 |
Net income (loss) | (3,788,000 | ) |  | 8,121,000 |
Net income (loss) per common share: |  |  |
Basic | $ | (0.49 | ) |  | $ | 1.06 |
Diluted | $ | (0.49 | ) |  | $ | 1.05 |
The unaudited pro forma net income includes the following adjustments that would have been recorded had the 2018 acquisition taken place on January 1, 2017.
| Pro forma for the year ended December 31,
| 2018 |  | 2017
Depreciation expense | $ | 55,000 |  |  | $ | 50,000 |
Amortization expense | 78,000 |  |  | 1,876,000 |
Interest (income) expense | (208,000 | ) |  | 1,705,000 |
Non-recurring transaction costs | (1,289,000 | ) |  | (596,000 | )
Income tax expense (benefit) | 253,000 |  |  | (880,000 | )

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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