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Business Combinations (Tables)

6 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

Preliminary Allocation of the Purchase Price to the Estimated Fair Value of the Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date is as follows:

(In thousands)
Assets
Other receivables	$	104
Inventory		510
Property, plant and equipment		392
Intangible assets		22,100
Total assets acquired		23,106
Liabilities
Deferred income taxes		(3,978	)
Total liabilities assumed		(3,978	)
Total net assets		19,128
Gain on bargain purchase of a business, net of tax		(11,322	)
Total purchase price	$	7,806

Summary of Actual Revenue and Net Loss Included in Consolidated Statements of Income

The actual revenue and net loss included in our Consolidated Statements of Income for the three months ended June 30, 2018 and the period March 19, 2018 to June 30, 2018 are as follows:

	Three Months Ended				March 19, 2018 to
(In thousands)	June 30, 2018				June 30, 2018
Revenue	$	1,197			$	1,197
Net loss	$	(809	)		$	(886	)

Details of the Acquired Intangible Assets

The details of the acquired intangible assets are as follows:

(In thousands)	Value				Life (years)
Customer relationships	$	13,400				12.0
Licensed technology		5,900				9.0
Supplier relationship		2,800				2.0
Total	$	22,100

Summary of Unaudited Supplemental Pro Forma Information

The following unaudited supplemental pro forma information presents the financial results as if the acquisition had occurred on January 1, 2017. This unaudited supplemental pro forma information does not purport to be indicative of what would have occurred had the acquisition been completed on January 1, 2017, nor is it indicative of any future results. Aside from revising the 2017 and 2018 net income for the effect of the bargain purchase gain, there were no material, non-recurring adjustments to this unaudited pro forma information.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
(In thousands)		2017				2018				2017
Pro forma revenue		$	187,987			$	250,114			$	358,679
Pro forma net income (loss)		$	11,628			$	(31,020	)		$	28,829
Pro forma earnings per share - basic		$	0.24			$	(0.65	)		$	0.60
Pro forma earnings per share - diluted		$	0.24			$	(0.65	)		$	0.59

X

- Definition

Summary of actual revenue and net loss included in consolidated statements of income.

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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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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