BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jul. 03, 2020

E3, Inc.

Schedule of consideration for the acquisition

	E3, Inc.
		(in thousands)
Cash paid	$	25,217
Other working capital adjustment		1,973
Issuance of common stock		5,000
Contingent Consideration		7,000
Total consideration	$	39,190

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

	E3, Inc.
		(in thousands)
Current assets	$	5,316
Non-current assets (1)		341
Cash		2,264
Equipment and leasehold improvements, net		409
Right-of-use assets		7,641
Current lease liability		(750)
Non-current lease liability		(7,300)
Liabilities		(4,325)
Backlog		2,500
Customer relationships		8,300
Tradename		2,000
Non-compete		900
Goodwill		21,894
Net assets acquired	$	39,190

(1)Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, backlog and goodwill.

Onsite Energy Corporation

Schedule of consideration for the acquisition

	Onsite Energy
		(in thousands)
Cash paid	$	24,905
Other working capital adjustment		-
Total consideration	$	24,905

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

	Onsite Energy
		(in thousands)
Current assets	$	19,058
Non-current assets (1)		10
Equipment and leasehold improvements, net		39
Right-of-use assets		828
Current lease liability		(168)
Non-current lease liability		(660)
Liabilities		(12,222)
Backlog		1,510
Customer relationships		7,050
Tradename		860
Goodwill		8,600
Net assets acquired	$	24,905

(1) Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, backlog and goodwill.

The Weidt Group

Schedule of consideration for the acquisition

	The Weidt Group
		(in thousands)
Cash paid	$	22,136
Other working capital adjustment		-
Total consideration	$	22,136

Schedule of amounts for the acquired assets and liabilities recorded at their estimated fair value as of the acquisition date

	The Weidt Group
		(in thousands)
Current assets	$	2,317
Non-current assets (1)		25
Equipment and leasehold improvements, net		198
Right-of-use assets		1,730
Current lease liability		(245)
Non-current lease liability		(1,533)
Liabilities		(612)
Backlog		750
Customer relationships		4,240
Tradename		550
Developed technology		3,170
Goodwill		11,546
Net assets acquired	$	22,136

(1) Excluded from non-current assets are equipment and leasehold improvements, net, right-of-use assets, customer relationships, tradename, developed technology, backlog and goodwill.

Lime Energy

Schedule of unaudited pro forma financial information

	Three Months Ended				Six Months Ended
	July 3,		June 28,		July 3,		June 28,
	2020		2019		2020		2019
	(in thousands, except per share data)
Pro forma revenue	$	83,549	$	117,010	$	189,575	$	219,409
Pro forma income (loss) from operations	$	(3,841)	$	3,818	$	(12,110)	$	5,096
Pro forma net income (loss) (1)	$	(4,985)	$	2,732	$	(13,139)	$	2,784
Earnings (Loss) per share:
Basic	$	(0.43)	$	0.24	$	(1.13)	$	0.25
Diluted	$	(0.43)	$	0.23	$	(1.13)	$	0.23
Weighted average shares outstanding:
Basic		11,682		11,315		11,593		11,252
Diluted		11,682		11,894		11,593		11,885

(1) Adjustments to pro forma net income include income from operations, amortization and interest expenses.