Business Acquisitions (Tables)

6 Months Ended

Jun. 27, 2020

Summary of the Fair Values of the Assets Acquires And Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date for the acquisitions closed during 2019:



	2019
	QSI			Other			Total
Cash	$	6,894		$	75		$	6,969
Billed and unbilled receivables, net	42,523			20,064			62,587
Right-of-use assets	6,131			—			6,131
Property and equipment	16,146			2,163			18,309
Prepaid expenses	2,612			997			3,609
Other assets	1,317			1,048			2,365
Intangible assets:
Customer relationships	71,252			10,423			81,675
Trade name	4,234			1,365			5,599
Customer backlog	7,636			1,363			8,999
Developed technology	32,944			—			32,944
Other	—			814			814
Total Assets	$	191,689		$	38,312		$	230,001
Liabilities	(23,698		)	(8,373		)	(32,071		)
Deferred tax liabilities	(27,476		)	(3,629		)	(31,105		)
Net assets acquired	$	140,515		$	26,310		$	166,825

Consideration paid (Cash, Notes and/or stock)	$	318,428		$	50,447		$	368,875
Contingent earn-out liability (Cash and stock)	—			1,004			1,004
Total Consideration	$	318,428		$	51,451		$	369,879
Excess consideration over the amounts assigned to the net assets acquired (Goodwill)	$	177,913		$	25,141		$	203,054

Results of Operations From Any Business Acquired

The consolidated financial statements of the Company for the three and six months ended June 29, 2019 include the results of operations from any business acquired from their respective dates of acquisition during each of the respective period as follows:



	Three Months Ended		Six Months Ended
	June 29, 2019		June 29, 2019
Gross revenues	$	4,926	$	5,692
Income before income taxes	$	891	$	939

Pro Forma Consolidated Results of Operations

The pro forma results are not necessarily indicative of (i) the results of operations that would have

occurred had the operations of these acquisitions actually been acquired at the beginning of fiscal year 2019 or (ii) future results of operations:



	Three Months Ended		Six Months Ended
	June 29, 2019		June 29, 2019
Gross revenues	$	174,920	$	340,326
Net income	$	8,446	$	12,194
Basic earnings per share	$	0.70	$	1.01
Diluted earnings per share	$	0.67	$	0.97