ACQUISITION (Tables) - Sterling

9 Months Ended

Sep. 30, 2016

Purchase price allocation

The acquisition of Sterling was accounted for under ASC 805. The purchase price allocation is set forth below. 

Fair value of tangible assets acquired	$	8,181,000
Goodwill		4,540,000
Cash acquired		588,000
Liabilities assumed		(3,169,000	)
Total	$	10,140,000

Proforma results

The below table sets forth selected unaudited proforma financial information for the Company as if Sterling were owned for the entire three and nine months ended September 30, 2015.

	Three Months Ended  September 30, 2015
Net Sales	$	21,076,000
Income from operations	$	26,000

	Nine Months Ended September 30, 2015
Net Sales	$	58,783,000
Income from operations	$	711,000

Selected financial information

The below table sets forth selected financial information for Sterling for the three and nine months ended September 30, 2016 and the portions of the three and nine months ended September 30, 2015 during which Sterling was a subsidiary of the Company.

	Three Months Ended
	September 30, 2016			September 30, 2015
Net Sales	$	1,442,000		$	1,853,000
Loss from Operations	$	(684,000	)	$	(570,000	)

	Nine Months Ended
	September 30, 2016			September 30, 2015
Net Sales	$	4,722,000		$	5,152,000
Loss from Operations	$	(1,516,000	)	$	(585,000	)