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Acquisition (Tables)
12 Months Ended
Dec. 31, 2018
Business Combinations [Abstract]  
Summary of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows:

In thousands

 

 

Preliminary Allocation

 

Assets

 

 

 

 

 

Cash and cash equivalents

 

 

$

7,540

 

Accounts receivable

 

 

 

13,277

 

Inventory

 

 

 

11,133

 

Prepaid and other current assets

 

 

 

290

 

Plant, equipment and timberlands

 

 

 

66,167

 

Intangible assets

 

 

 

43,573

 

Goodwill

 

 

 

75,317

 

Total assets

 

 

 

217,297

 

Liabilities

 

 

 

 

 

Accounts payable

 

 

 

8,577

 

Deferred tax liabilities

 

 

 

19,119

 

Other long term liabilities

 

 

 

1,162

 

Total liabilities

 

 

 

28,858

 

Total

 

 

 

188,439

 

less cash acquired

 

 

 

(7,540

)

Total purchase price

 

 

$

180,899

 

Summary of Unaudited Pro Forma Financial Information The following table summarizes unaudited pro forma financial information as if the acquisition occurred as of January 1, 2017:

 

Year ended

December 31  (Unaudited)

 

 

In thousands, except per share

 

2018

 

 

 

2017

 

 

Pro forma

 

 

 

 

 

 

 

 

Net sales

$

937,043

 

 

$

904,430

 

 

Income from continuing

   operations

 

1,585

 

 

 

1,396

 

 

Income per share from

   continuing operations

 

0.04

 

 

 

0.03