Business Combination (Tables)

3 Months Ended

Jul. 03, 2016

Total consideration consisted of the following:



(in thousands)
Cash paid to ZMDI shareholders	$	307,030
Less: cash acquired	(27,892		)
Total purchase price, net of cash acquired	$	279,138

Schedule of allocation of purchase price

The Company's preliminary allocation of the purchase price is as follows:



(in thousands)	Estimated Fair Value
Cash	$	27,892
Accounts receivable	10,618
Inventories	19,892
Other current assets	1,551
Property, plant and equipment	9,287
Other non-current assets	2,003
Intangible assets	126,200
Goodwill	170,089
Accounts payable	(5,633		)
Accrued and other current liabilities	(19,141		)
Loans payable	(9,437		)
Deferred tax liability	(23,467		)
Other long term liabilities	(2,824		)
Total purchase price	$	307,030

Schedule of allocation of intangible assets

A summary of the preliminary allocation of intangible assets is as follows:



(in thousands)	Estimated Fair Value		Estimated Useful Life (in years)
Developed technology	$	75,600	7
Customer relationships	44,000		7
Backlog	5,800		1
Trademarks	800		1
Total	$	126,200

Pro forma financial information including acquisition

The following unaudited pro forma financial information present combined results of operations for each of the periods presented, as if ZMDI had been acquired as of the beginning of fiscal year 2016. The pro forma financial information include the business combination effect of the amortization charges from acquired intangible assets, the amortization of fair market value inventory write-up and acquisition-related costs. The pro forma data is for informational purposes only and is not necessarily indicative of the consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of fiscal year 2016 or of the results of future operations of the combined business. Consequently, actual results will differ from the unaudited pro forma information presented below:



	Three Months Ended
(Unaudited in thousands, except per share data)	July 3, 2016		June 28, 2015
Revenues	$	192,128	$	179,791
Net income	$	23,911	$	24,330
Basic net income per share - continuing operations	$	0.18	$	0.16
Diluted net income per share - continuing operations	$	0.17	$	0.16