Acquisition

12 Months Ended

Dec. 31, 2012

Acquisition

Note 2. Acquisition

On June 28, 2011, we completed the acquisition of all the outstanding stock of LaBarge, Inc. (“LaBarge”), a publicly-owned company based in St. Louis, Missouri, that designs, engineers and manufactures high-reliability electronic products used in worldwide technology-driven markets including aerospace and defense, natural resources, industrial and medical and other end-use markets for $325.3 million (net of cash acquired and excluding acquisition costs) (the “LaBarge Acquisition”). The LaBarge Acquisition was funded by internally generated cash and $390.0 million of long-term debt. See Note 7. Long-Term Debt for additional information. For the twelve months ended December 31, 2011, our consolidated operating expenses included $16.1 million of expenses related to the LaBarge Acquisition and interest expense included the write-off of $0.8 million of unamortized financing costs, as a result of our debt refinancing related to the LaBarge Acquisition. The LaBarge Acquisition diversified our end-use markets, expanded our product offerings and provided other benefits.

The following table presents our unaudited pro forma consolidated operating results for the periods presented, as if the LaBarge Acquisition had occurred as of January 1, 2010.

	(In thousands)
	Years Ended December 31,
	2011			2010
Net sales	$	744,366		$	732,443
Net loss		(39,737	)		(2,309	)
Basic loss per share		(3.77	)		(0.22	)
Diluted loss per share		(3.77	)		(0.22	)

The pro forma information is not necessarily indicative of the actual results that would have been achieved had the LaBarge Acquisition occurred on January 1, 2010, or the results that may be achieved in the future.

We acquired certain assets of Foam Matrix in the first quarter of 2011 for $0.4 million, which we accounted for as an asset purchase.