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Acquisitions (Tables)
 9 Months Ended
Sep. 28, 2019
Business Combinations [Abstract]  
Summary of Preliminary Allocation of Purchase Price The preliminary allocation of the purchase price is as follows (in thousands):

Current assets

 

$

3,572

 

 

Property and equipment

 

 

2,831

 

 

Goodwill

 

 

6,049

 

 

Intangible assets

 

 

9,235

 

 

Current liabilities

 

 

(461

)

 

Deferred tax liabilities, net

 

 

(24

)

 

 

 

$

21,202

 

 

 
Summary of Unaudited Pro Forma Results of Operations

The following unaudited pro forma results of operations present consolidated information of the Company as if Michael’s was acquired on January 1, 2018 (in thousands, except per share data):

 

 

 

Thirteen Weeks Ended

 

 

Thirty-nine Weeks Ended

 

 

 

September 28,

2019

 

 

September 29,

2018

 

 

September 28,

2019

 

 

September 29,

2018

 

Operating revenues

 

$

375,485

 

 

$

382,534

 

 

$

1,145,016

 

 

$

1,098,813

 

Income from operations

 

$

(7,353

)

 

$

23,510

 

 

$

50,656

 

 

$

68,264

 

Net income

 

$

(8,420

)

 

$

15,628

 

 

$

29,230

 

 

$

44,442

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.30

)

 

$

0.55

 

 

$

1.03

 

 

$

1.57

 

Diluted

 

$

(0.30

)

 

$

0.55

 

 

$

1.03

 

 

$

1.57