Information of Company's Results of Operations

The following unaudited pro forma information represents the Company’s results of operations as if PMFG acquisition had occurred as of January 1, 2014 and the HEE, SAT, Emtrol and Zhongli acquisitions had occurred as of January 1, 2013:

	Year Ended December 31,
(Table only in thousands, except per share data)	2015			2014
Net sales	$	460,726		$	493,246
Net loss	$	(29,568	)	$	(22,990	)
Earnings per share:
Basic	$	(0.87	)	$	(0.68	)
Diluted	$	(0.87	)	$	(0.68	)

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing after Company Finalized Purchase Accounting

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing after the Company finalized purchase accounting during 2016.

(Table only in thousands)
Current assets (including cash of $27,100)	$	92,293
Property and equipment		24,787
Other assets		953
Assets held for sale (a)		950
Deferred income tax asset		—
Goodwill		59,860
Intangible – finite life		29,940
Intangible – indefinite life		10,280
Total assets acquired		219,063
Current liabilities assumed		(73,364	)
Deferred income tax liability		(800	)
Long term liabilities assumed		(3,961	)
Noncontrolling interest		(4,212	)
Net assets acquired	$	136,726

(a)

The assets held for sale consists 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.

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing after Company Finalized Purchase Accounting

Zhongli is a leader in the design and manufacture of power industry damper, diverter and ball mill systems in China, which complements our Energy segment businesses. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing after the Company finalized purchase accounting during 2015.

(Table only in thousands)
Current assets (including cash of $1,025)	$	16,223
Property and equipment		1,477
Goodwill		4,752
Intangible – finite life		4,262
Intangible – indefinite life		960
Total assets acquired		27,674
Current liabilities assumed		(1,840	)
Deferred tax liabilities		(1,739	)
Net assets acquired	$	24,095

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing after Company Finalized Purchase Accounting

Emtrol is engaged in the business of designing and manufacturing of fluid catalytic cracking and industrial cyclone technology for a variety of industries including the refinery, petrochemical, and chemical sectors, which complements our Environmental segment businesses. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing after the Company finalized purchase accounting during 2015.

(Table only in thousands)
Current assets	$	9,922
Property and equipment		125
Goodwill		24,998
Intangible – finite life		12,890
Total assets acquired		47,935
Current liabilities assumed		(10,173	)
Net assets acquired	$	37,762

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing after Company Finalized Purchase Accounting

SAT is a leading provider of volatile organic compounds abatement solutions for the Chinese air pollution control market, which complements our Environmental segment businesses. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing after the Company finalized purchase accounting during 2015.

(Table only in thousands)
Current assets	$	1,679
Property and equipment		10
Goodwill		1,733
Intangible – finite life		840
Intangible – indefinite life		260
Total assets acquired		4,522
Current liabilities assumed		(1,847	)
Deferred tax liabilities		(275	)
Net assets acquired	$	2,400

Fair Values of Assets Acquired and Liabilities Assumed at Date of Closing after Company Finalized Purchase Accounting

HEE is a leading North American designer and manufacturer of scrubbers and fans for the air pollution control market, which complements our Environmental segment businesses. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing after the Company finalized purchase accounting during 2015.

(Table only in thousands)
Current assets	$	913
Property and equipment		158
Goodwill		5,644
Intangible – finite life		2,690
Intangible – indefinite life		510
Total assets acquired		9,915
Current liabilities assumed		(415	)
Net assets acquired	$	9,500