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Business Combination (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Schedule of Preliminary Purchase Price Allocation | Management's preliminary purchase price allocation as of June 30, 2017 was the following:
(in thousands) | Estimated Lives |  | Preliminary Fair Value
Accounts receivable |  |  | $ | 429 |
Inventories |  |  | 1,460 |
Prepaid expenses and other current assets |  |  | 6 |
Property, plant and equipment | 1-4 years |  | 14 |
Current liabilities |  |  | (399 | )
Net tangible assets acquired |  |  | 1,510 |
Trade name | 8 years |  | 400 |
Customer relationships | 10 years |  | 5,200 |
Order backlog | 1 year |  | 150 |
Goodwill |  |  | 5,294 |
Total purchase price |  |  | 12,554 |
Less: Contingent consideration |  |  | (3,700 | )
Cash paid |  |  | $ | 8,854 |
Pro Forma Information | The following unaudited pro forma financial information presents the combined results of our operations and the operations of RCS as if this transaction had occurred on January 1, 2016. This unaudited pro forma financial information is not intended to represent or be indicative of the consolidated results of operations that would have been achieved had the acquisition actually been completed as of January 1, 2016, and should not be taken as a projection of the future consolidated results of our operations.
| Three Months Ended June 30, 2017 |  | Six Months Ended June 30, 2017
(In thousands, except per-share amounts) | 2017 |  | 2016 |  | 2017 |  | 2016
Net sales | $ | 177,580 |  |  | $ | 172,308 |  |  | $ | 339,548 |  |  | $ | 326,514 |
Net income | 4,767 |  |  | 6,381 |  |  | 4,541 |  |  | 9,367 |
Net income attributable to Universal Electronics Inc. | 4,767 |  |  | 6,373 |  |  | 4,541 |  |  | 9,337 |
Basic earnings per share attributable to Universal Electronics Inc. | $ | 0.33 |  |  | $ | 0.44 |  |  | $ | 0.31 |  |  | $ | 0.65 |
Diluted earnings per share attributable to Universal Electronics Inc. | $ | 0.32 |  |  | $ | 0.43 |  |  | $ | 0.31 |  |  | $ | 0.64 |

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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=65885119&loc=d3e1392-128463 + 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 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: 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=65885119&loc=d3e1392-128463 + Details
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