Note 13 Acquisition

6 Months Ended

Mar. 29, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition

On December 18, 2013, the Company completed its acquisition of a certain manufacturing operation in the oil and gas market. The Company also entered into a master supply agreement in connection with this acquisition. The acquisition increases the Company's precision machining, assembly, integration and test capabilities for the oil and gas industry.

The acquisition did not significantly affect the Company’s results of operations for the six months ended March 29, 2014.

Cash consideration for this acquisition was $54.1 million. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition. Management is in the process of finalizing fair value amounts for certain assets acquired, including the value of identifiable intangible assets and goodwill. The following represents the Company's preliminary allocation of the purchase price to the acquired assets and liabilities assumed:

	(In thousands)
Current assets	$	7,343
Noncurrent assets (including tangible assets of $34.7 million)	48,588
Current liabilities	(1,870		)
Total	$	54,061

Goodwill and identifiable intangible assets are recorded in other non-current assets on the unaudited condensed consolidated balance sheet. Identifiable intangible assets will be amortized to cost of goods sold, primarily over 5 years.