Acquisition (Tables)

6 Months Ended

Jul. 02, 2016

Schedule Of Purchase Price Transferred To Acquire

The total purchase price transferred to effect the acquisition of the Farncombe Entities was as follows:



	(in thousands)
Cash paid at closing	$	1,015
Equity issued at closing	2,036
Fair value of contingent consideration	1,921
Working capital adjustment	2,485
Total purchase price	$	7,457

Schedule Of Purchase Price Allocation Assets Acquired Liabilities Assumed

Total purchase consideration was allocated to the tangible and intangible assets and to liabilities assumed based on their respective acquisition-date fair values. The purchase price allocation is summarized in the following table:



	(in thousands)
Tangible assets and liabilities
Cash	$	1,378
Accounts receivable, net	4,627
Other current assets	191
Other non-current assets	137
Accounts payable	(1,874		)
Accrued payroll and related expenses	(796		)
Other current liabilities	(636		)
Non-current deferred tax liability	(264		)
Intangible assets	1,260
Goodwill	3,434
Net assets acquired	$	7,457

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The following table summarizes the major classes of intangible assets, as well as the respective weighted-average amortization periods:



	Amount (in thousands)		Weighted- Average Amortization Period (Years)
Identifiable Intangible Assets
Tradename	$	90	0.5
Non-compete agreements	60		4.5
Customer relationships	1,110		3.5
Total identifiable intangible assets	$	1,260

Business Acquisition, Pro Forma Information

The basic and diluted shares outstanding used to calculate the pro forma net loss per share amount presented below have been adjusted to assume shares issued at the closing of the acquisition of the Farncombe Entities were outstanding since the beginning of fiscal 2015.



Dollars in thousands except per share data	Thirteen Weeks Ended			Twenty-six Weeks Ended
	July 4, 2015			July 4, 2015
Revenue	$	21,385		$	43,398
Net loss	$	(2,356	)	$	(3,227	)
Net loss per share	$	(0.26	)	$	(0.37	)
Weighted-average shares used in calculation of pro forma net loss per share:
Basic and diluted shares outstanding	8,769			8,724