ACQUISITION OF ALBION INTERNATIONAL, INC (Tables)

9 Months Ended

Sep. 30, 2016

ACQUISITION OF ALBION INTERNATIONAL, INC [Abstract]

Estimated fair values of the assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed.

Cash and cash equivalents	$	4,949
Accounts receivable		7,671
Inventories		15,989
Property, plant and equipment		7,217
Customer relationships		18,443
Developed technology		9,060
Trade name		7,224
Licensing agreements		6,658
Other assets		1,200
Trade accounts payable		(1,104	)
Accrued expenses		(2,788	)
Bank debt		(884	)
Deferred income taxes		(18,262	)
Goodwill		60,177
Amount paid to shareholders		115,550
Albion bank debt paid on purchase date		884
Total amount paid on acquisition date	$	116,434

Acquisition of unaudited pro forma information

The following unaudited pro forma information has been prepared as if the Acquisition had occurred on January 1, 2015.

	Three Months Ended September 30,				Nine Months Ended September 30,
	Net Sales		Net Earnings		Net Sales		Net Earnings
2016 Albion actual results included in the Company’s consolidated income statement from February 1, 2016 through September 30, 2016	$	11,816	$	639	$	37,915	$	801
2016 Supplemental pro forma combined financial information	$	138,509	$	14,276	$	417,024	$	44,911
Basic earnings per share			$	0.45			$	1.43
Diluted earnings per share			$	0.45			$	1.41
2015 Albion actual results included in the Company’s consolidated income statement	$	-	$	-	$	-	$	-
2015 Supplemental pro forma combined financial information	$	152,969	$	13,129	$	462,942	$	44,089
Basic earnings per share			$	0.42			$	1.41
Diluted earnings per share			$	0.41			$	1.38