Business Combinations (Tables)

9 Months Ended

Jun. 30, 2016

Schedule of Business Acquisitions, by Acquisition

Based on the unaudited financial statements of Danya on May 3, 2016, we estimate total acquisition consideration and the preliminary allocation of fair value to the related assets and liabilities as follows:



(Amounts in thousands)
Preliminary base purchase price for Danya	$	38,750
Estimated working capital deficit	$	(310	)
Estimated purchase price, net of cash acquired	$	38,440

Estimated net assets acquired
Cash and cash equivalents	$	4,009
Accounts receivable	5,712
Other current assets	444
Total current assets	10,165
Accounts payable and accrued expenses	(5,543		)
Payroll liabilities	(1,432		)
Estimated net working capital surplus	3,190
Property and equipment, net	403
Other long term assets	81
Net identifiable assets acquired	3,674
Goodwill and other intangibles	34,766
Net assets acquired	$	38,440

Business Acquisition, Pro Forma Information

The pro forma results presented below include amortization charges for acquired intangible assets and adjustments to interest expense incurred and exclude related acquisition expenses.



	(in thousands)				(in thousands)
	Three Months Ended				Nine Months Ended
	June 30,				June 30,
Pro forma results	2016		2015		2016		2015
Revenue	$	30,411	$	26,828	$	92,164	$	83,359
Net income	$	1,416	$	415	$	2,618	$	657

Number of shares outstanding - basic	11,123		10,933		11,051		10,961
Number of shares outstanding - diluted	12,280		11,337		12,094		11,371

Basic earnings per share	$0.13		$0.04		$0.24		$0.06
Diluted earnings per share	$0.12		$0.04		$0.22		$0.06