General (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business acquisition, pro forma information

The Schultz acquisition made the following contribution to the Company’s revenues and profits (in thousands):

	Quarter Ended June 30, 2015			Six Months Ended June 30, 2015
Revenues	$	3,970		$	4,487
Net loss	(19		)	(26		)

The following unaudited pro forma summary presents combined information of the Company as if the Schultz acquisition had occurred at the beginning of the year preceding its acquisition (in thousands):

	Quarter Ended June 30, 2014		Six Months Ended June 30, 2014
Revenues	$	325,326	$	633,395
Net income (1)	12,695		17,128

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⁽¹⁾  Includes pro-forma adjustments for purchase price depreciation and amortization as if those intangibles were recorded at the beginning of the year preceding the acquisition date.

Schedule of fair value of assets acquired and liabilities assumed

The following table summarizes the fair value of identified assets and liabilities of the Schultz acquisition at its acquisition date (in thousands):

Receivables and cost and estimated earnings in excess of billings	$	1,100
Prepaid expenses and other current assets	19
Property, plant and equipment	162
Identified intangible assets	3,060
Accounts payable, accrued expenses and billings in excess of cost and estimated earnings	(461		)
Total identifiable net assets	$	3,880
Total consideration recorded	$	7,878
Less: total identifiable net assets	3,880
Goodwill at June 30, 2015	$	3,998