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Business Combinations (Tables)
12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions approximated the following:

 

     2014      2013      2012  

Cash

   $ 53       $ —         $ 375   

Accounts receivable

     4,666         213         5,486   

Inventory

     1,315         68         2,548   

Note receivable

     —           —           171   

Other current assets

     195         37         291   

Property and equipment

     1,576         338         468   

Intangibles

     7,111         1,332         5,513   

Goodwill

     4,065         182         834   

Accounts payable and accrued expenses

     (2,505      (609      (7,852

Deferred tax liability

     (515      —           (1,387

Long-term debt

     —           —           (498
  

 

 

    

 

 

    

 

 

 

Total purchase price

$ 15,961    $ 1,561    $ 5,949   
  

 

 

    

 

 

    

 

 

 

Fair value of common stock issued

$ —      $ —      $ 4,100   

Seller obligations

  3,544      380      651   

Cash paid

  12,417      1,181      1,198   
  

 

 

    

 

 

    

 

 

 

Total purchase price

$ 15,961    $ 1,561    $ 5,949   
  

 

 

    

 

 

    

 

 

 
Estimates of Acquired Intangible Assets

Estimates of acquired intangible assets related to the acquisitions are as follows:

 

     2014      2013      2012  

Acquired intangibles assets

   Estimated
Fair Value
     Weighted
Average
Estimated
Useful
Life (yrs)
     Estimated
Fair Value
     Weighted
Average
Estimated
Useful
Life (yrs)
     Estimated
Fair Value
     Weighted
Average
Estimated
Useful
Life (yrs)
 

Customer relationships

   $ 4,708         14       $ 972         10       $ 3,241         10   

Trademarks and trade names

     1,799         15         338         15         2,067         9   

Non-competition agreements

     604         5         22         5         205         3   
Pro Forma Results of Operations

The unaudited pro forma information has been prepared as if the 2014 acquisitions had taken place on January 1, 2013, and the 2013 acquisitions had taken place on January 1, 2012. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2013 and 2012, and the unaudited pro forma information does not purport to be indicative of future financial operating results.

 

     Pro Forma for the years ended December 31,  
     2014      2013      2012  

Net revenue

   $ 537,336       $ 459,195       $ 334,885   

Net income (loss)

     16,097         6,811         (3,499

Net (loss) income attributable to common stockholders

     (3,800      588         (9,028

Net (loss) income per share attributable to
common stockholders (basic and diluted)

     (0.13      0.03         (0.41