Business Combination (Tables)

3 Months Ended

Mar. 31, 2017

Business Combination

Schedule of current estimated fair value of the acquired assets and assumed liabilities

The following table summarizes the current estimated fair value of the acquired assets and assumed liabilities recorded as of the date of acquisition. The fair value of all assets acquired and liabilities assumed are preliminary and subject to the completion of an incremental analysis of the fair values of the assets acquired and liabilities assumed:

	At October 3, 2016
	(In thousands)
Cash	$	3
Accounts receivable		2,626
Inventories		14,582
Prepaids		46
Property and equipment		59
Intangibles		9,161
Goodwill		10,266
Other assets		116
Total assets acquired		36,859
Trade accounts payable		1,130
Accrued and other current liabilities		919
Deferred income taxes		2,440
Total liabilities assumed		4,489
Net assets purchased	$	32,370

Schedule of operations

The results of operations of Vertex are included in the consolidated statement of operations prospectively from October 3, 2016. The unaudited pro forma combined historical results of the Company, giving effect to the acquisition assuming the transaction was consummated on January 1, 2016, are as follows:

	Three Months ended
	March 31, 2016
	(In thousands, except earnings per share)
Sales	$	72,497
Net income		102
Basic earnings per share		0.01
Diluted earnings per share		0.01