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Business Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2014
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired | These preliminary estimates and assumptions could change significantly during the purchase price measurement period as we finalize the valuations of these assets and liabilities. Such changes could result in material variances between the Company's future financial results and the amounts presented in the unaudited pro-forma information, including variances in estimated purchase price, fair values recorded, and expenses associated with these items.
|  | As Reported on June 30, 2014 | Provisional Adjustments | Estimated Fair Values September 30, 2014
Current assets |  | $ | 2,365 |  | $ | 92 |  | $ | 2,457 |
Property, plant and equipment |  | 281 |  | (281 | ) | — |
Identifiable intangible assets |  | — |  | 4,126 |  | 4,126 |
Current and long-term liabilities assumed |  | (2,035 | ) | (1,557 | ) | (3,592 | )
Total identifiable net assets acquired |  | 611 |  | 2,380 |  | 2,991 |
Goodwill |  | 7,468 |  | (2,380 | ) | 5,088 |
Total assets acquired |  | $ | 8,079 |  | $ | — |  | $ | 8,079 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired | The preliminary fair value assigned to finite lived intangible assets as a result of the acquisitions was as follows:
Description |  | Amount | Useful Life (Yrs)
Order backlog |  | $ | 470 |  | 1.0
Trademarks |  | 90 |  | 2.0
Customer relationships |  | 540 |  | 4.0
Developed technology |  | 3,230 |  | 7.0
Revenue in excess of billings |  | 283 |  | 0.5
Assumed deferred revenue obligation |  | (487 | ) | 1.0
Total identifiable assets acquired |  | $ | 4,126 |  | 6.1
Net Sales and Earnings | The following table summarizes the net sales and earnings after income taxes of PECO and FGC since the acquisition date, April 30, 2014, which is included in the consolidated statements of operations for the three and nine months ended September 30, 2014:
|  | Three Months Ended September 30, 2014 |  | Nine Months Ended September 30, 2014
Revenue |  | $ | 1,052 |  |  | $ | 3,493 |
Net income before taxes |  | 243 |  |  | 837 |
Net income before taxes per Common Share |  |  |  |
Basic |  | $ | 0.01 |  |  | $ | 0.04 |
Diluted |  | $ | 0.01 |  |  | $ | 0.04 |
Business Acquisition, Pro Forma Information | The following unaudited pro-forma information represents the Company's results of operations as if the acquisition date had occurred on January 1, 2013:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Revenue |  | $ | 21,482 |  |  | $ | 34,727 |  |  | $ | 66,030 |  |  | $ | 91,826 |
Net income / (loss) |  | 712 |  |  | 3,961 |  |  | 194 |  |  | 5,429 |
Net income / (loss) per Common Share |  |  |  |  |  |  |  |
Basic |  | $ | 0.03 |  |  | $ | 0.18 |  |  | $ | 0.01 |  |  | $ | 0.24 |
Diluted |  | $ | 0.03 |  |  | $ | 0.18 |  |  | $ | 0.01 |  |  | $ | 0.24 |

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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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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