Acquisition (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

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 $4,212)	$	6,416
Property and equipment		26
Other assets		44
Goodwill		7,022
Intangible - finite life		4,840
Total assets acquired		18,348
Current liabilities assumed		(6,514	)
Deferred income tax liability		(920	)
Net assets acquired	$	10,914

Schedule of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information represents the Company’s results of operations as if the EIS acquisition had occurred on January 1, 2019:

	Three months ended June 30,				Six months ended June 30,
(table in thousands, except per share data)	2020		2019		2020		2019
Net Sales	$	78,256	$	86,086	$	165,502	$	175,298
Net Income		4,341		6,014		8,621		8,150
Earnings per share:
Basic	$	0.12	$	0.17	$	0.24	$	0.23
Diluted	$	0.12	$	0.17	$	0.24	$	0.23