Acquisitions/Divesture (Tables)

12 Months Ended

Jun. 30, 2016

EpiWorks

Purchase Price at the Date of Acquisition

The following table presents the allocation of the purchase price at the date of acquisition ($000):

Net cash paid at acquisition	$	42,981
Cash paid for working capital adjustment		163
Fair value of cash earnout arrangement		4,352
Purchase price	$	47,496

Allocation of Purchase Price of Assets Acquired and Liabilities Assumed

The following table presents the preliminary allocation of the purchase price of the assets acquired and liabilities assumed at the date of acquisition, as the Company intends to finalize its accounting for the acquisition of EpiWorks within one year from the date of acquisition ($000):

Assets
Accounts receivable	$	2,121
Inventories		2,435
Prepaid and other assets		68
Property, plant & equipment		9,043
Intangible assets		14,124
Goodwill		27,588
Total assets acquired	$	55,379
Liabilities
Accounts payable	$	605
Other accrued liabilities		859
Deferred tax liabilities		6,419
Total liabilities assumed		7,883
Net assets acquired	$	47,496

ANADIGICS

Allocation of Purchase Price of Assets Acquired and Liabilities Assumed

The following table presents the preliminary allocation of the purchase price of the assets acquired and liabilities assumed at the date of acquisition as the Company intends to finalize its accounting for the acquisition of ANADIGICS within one year from the date of acquisition ($000):

Assets
Accounts receivable	$	3,973
Inventories		8,322
Prepaid and other assets		2,347
Property, plant & equipment		25,810
Intangible assets		1,060
Goodwill		48,312
Total assets acquired	$	89,824
Liabilities
Accounts payable	$	3,586
Other accrued liabilities		7,226
Total liabilities assumed		10,812
Net assets acquired	$	79,012

EpiWorks and ANADIGICS

Pro-forma Consolidated Results of Operations

The following unaudited pro forma consolidated results of operations for the year ended June 30, 2016 and 2015 have been prepared as if the acquisitions of EpiWorks and ANADIGICS had occurred on July 1, 2014, the beginning of the Company’s fiscal year 2015, which is the fiscal year prior to the acquisitions. As a result, certain transaction related expenses of $3.3 million (net of tax) recorded in Selling, general and administrative in the Company’s Consolidated Statement of Earnings for the year ended June 30, 2016 were only included in the earliest period presented below ($000 except per share data).

		Year Ended
		June 30,
	2016			2015
Net revenues	$		866,349	$	831,050
Net earnings	$		39,762	$	32,053
Basic earnings per share	$		0.65	$	0.52
Diluted earnings per share	$		0.63	$	0.51

RF Business of ANADIGICS

Carrying Value of the Assets and Liabilities Included as Part of Disposal

The following table presents the carrying value of the assets and liabilities included as part of the disposal of the RF business of ANADIGICS ($000):

Assets
Inventories	$	5,378
Equipment		5,813
Goodwill		35,352
	$	46,543
Liabilities
Accounts payable	$	963
Total Consideration	$	45,580