ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2017

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

	Three Months Ended June 30,				Six Months Ended June 30,

	Net Sales		Net Earnings		Net Sales		Net Earnings
2017 Albion actual results included in the Company’s consolidated income statement	$	16,742	$	3,189	$	32,233	$	5,910

2017 Supplemental pro forma combined financial information	$	147,082	$	16,536	$	284,810	$	31,959

Basic earnings per share			$	0.52			$	1.01
Diluted earnings per share			$	0.51			$	0.99

2016 Albion actual results included in the Company’s consolidated income statement from February 1, 2016 through June 30, 2016	$	15,488	$	682	$	26,099	$	162

2016 Supplemental pro forma combined financial information	$	138,794	$	16,103	$	278,515	$	30,635

Basic earnings per share			$	0.51			$	0.97
Diluted earnings per share			$	0.51			$	0.96

The following table summarizes the 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		(13,990	)
Goodwill		55,905
Amount paid to shareholders		115,550
Albion bank debt paid on purchase date		884
Total amount paid on acquisition date	$	116,434

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

Cash and cash equivalents	$	5,065
Accounts receivable		2,860
Inventories		2,537
Prepaid expenses		186
Property, plant and equipment		13,631
Customer relationships		2,653
Developed technology		1,078
Trademark & trade name		1,388
Trade accounts payable		(844	)
Accrued expenses		(1,416	)
Bank debt		(2,384	)
Deferred income taxes		(4,163	)
Amount paid to shareholders		20,591
IFP bank debt paid on purchase date		2,384
Total amount paid on acquisition date	$	22,975