Business Acquisition (Tables)

3 Months Ended

Mar. 31, 2017

Business Combinations [Abstract]

Schedule of Consolidated Statement of Income

The following table presents operational results of the acquired entity that are included in the Consolidated Statements of Income:

(in thousands, except per share amounts)	Three months ended March 31, 2017
Net sales	$20,200
Operating loss	(2,626	)
Loss before income taxes	(2,958	)
Net loss attributable to the Company	(1,864	)
Loss per share:
Basic	($0.06	)
Diluted	($0.06	)

Schedule of Proforma Statement of Operations

The following table shows total Company pro forma results for the first quarter of 2016 as if the acquisition had occurred on January 1, 2015.

	Unaudited - Pro forma
	Three months ended March 31,
(in thousands, except per share amounts)	2016
Combined Net sales	$193,335
Combined Income before income taxes	$23,150
Pro forma increase/(decrease) to income before income taxes:
Acquisition expenses	1,596
Interest expense related to purchase price	(1,052	)
Acquisition accounting adjustments:
Depreciation and amortization on property, plant and equipment, and intangible assets	(1,575	)
Valuation of contract inventories	1,891
Interest expense on captial lease obligation	300
Interest expense on other obligations	(133	)
Pro forma Income before income taxes	$24,177
Pro forma Net Income attributable to the Company	$16,265