Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table sets forth the preliminary purchase price allocation, which was based on fair value of assets acquired and liabilities assumed at the acquisition date, November 10, 2016:



	Valuation at November 10, 2016
	(In thousands)
Cash	$	1,829
Trade receivables	9,794
Inventories	29,896
Prepaid and other current assets	3,572
Deferred income taxes	205
Property, plant and equipment	38,058
Intangible assets ⁽¹⁾	29,808
Total assets acquired	$	113,162

Accounts payable	5,599
Customer prepayments	2,757
Other accrued liabilities	2,644
Deferred tax liabilities, non-current	2,261
Total liabilities assumed	$	13,261

Net identifiable assets acquired	$	99,901
Goodwill	34,371
Net assets acquired	$	134,272

(1) Includes $3.3 million of patents with a weighted average useful life of 10 years, $8.4 million of tradenames with an indefinite life and $18.1 million

of customer relationships with a weighted average useful life of 15 years. See Note 9 for further information regarding intangible assets.

Business Acquisition, Pro Forma Information

The following table reflects the unaudited pro forma consolidated results of operations for the three and nine months ended September 30, 2016, as though the acquisition of TIW had occurred on January 1, 2016:



	Three months ended September 30, 2016		Nine months ended September 30, 2016
	(In thousands, except per share data)
	(unaudited)
Revenues	$	133,526	$	485,505
Net income	$	14,637	$	89,290
Basic earnings per share	$	0.39	$	2.38
Diluted earnings per share	$	0.39	$	2.37