General (Tables)

9 Months Ended

Sep. 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 September 30, 2015		Nine Months Ended September 30, 2015
Revenues	$	3,718	$	8,205
Net income	57		31

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 September 30, 2014			Nine Months Ended September 30, 2014
Revenues	$	352,148		$	985,543
Net income (loss) (1)	(15,930		)	1,198

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⁽¹⁾  Includes pro-forma adjustments for depreciation and amortization associated with acquired tangible and intangible assets, as if those assets 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 September 30, 2015	$	3,998