BUSINESS ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2014

Estimated fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2013 and 2014 in connection with the acquisitions described above (in thousands):


	NatPro		Tucker Tool		APS		Tool-Tech			B27	MT&S		Total

Cash	$	-	$	-	$	-	$	430	$	2,538	$	806	$	3,774
Accounts Receivable, net		14,549		505		1,424		1,505		51,448		5,656		75,087
Inventory		6,883		209		1,332		409		6,472		2,522		17,827
Property and equipment		3,317		-		172		19		14,573		557		18,638
Goodwill and intangibles		39,345		4,678		12,241		7,254		262,250		8,656		334,424
Other assets		698		-		389		2		1,163		59		2,311
Assets acquired		64,792		5,392		15,558		9,619		338,444		18,256		452,061
Current liabilities assumed		19,175		391		1,079		1,987		26,690		3,336		52,658
Non-current liabilities assumed		5,649		-		1,419		-		18,202		-		25,270
Net assets acquired	$	39,968	$	5,001	$	13,060	$	7,632	$	293,552	$	14,920	$	374,133

Pro forma unaudited results of operations

The pro forma unaudited results of operations for the Company on a consolidated basis for the three and six months ended June 30, 2014 and 2013, assuming the acquisition of businesses completed in 2014 and 2013 were consummated as of January 1, 2013 are as follows (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Net sales	$	384,751	$	370,350	$	743,055	$	730,888
Net income	$	15,562	$	15,991	$	27,415	$	29,959
Per share data
Basic earnings	$	1.06	$	1.10	$	1.86	$	2.07
Diluted earnings	$	1.00	$	1.04	$	1.77	$	1.96