Acquisition (Tables)

6 Months Ended

Jun. 30, 2016

Information of Company's Results of Operations

The following unaudited pro forma information represents the Company’s results of operations as if the PMFG acquisition had occurred as of January 1, 2014:

	Three Months Ended June 30,			Six Months Ended June 30,
(Table only in thousands, except per share data)	2015			2015
Net sales	$	124,659		$	240,410
Net loss		(5,434	)		(8,195	)
Earnings per share:
Basic	$	(0.16	)	$	(0.24	)
Diluted	$	(0.16	)	$	(0.24	)

PMFG, Inc. [Member]

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing

The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the date of closing.

(Table only in thousands)
Current assets (including cash of $27,100)	$	92,690
Property and equipment		29,982
Other assets		953
Assets held for sale (a)		950
Deferred income tax asset		—
Goodwill		56,020
Intangible – finite life		29,940
Intangible – indefinite life		10,280
Total assets acquired		220,815
Current liabilities assumed		(73,328	)
Deferred income tax liability		(800	)
Long term liabilities assumed		(3,961	)
Noncontrolling interest		(6,000	)
Net assets acquired	$	136,726

(a) The assets held for sale consist primarily of real property, and are valued at the estimated proceeds less cost to sell. The Company has not recorded a gain or loss on the classification of the subject assets to held for sale. The Company expects to complete the sale of the subject assets within the next twelve months.