BUSINESS ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2014

BUSINESS ACQUISITIONS [Abstract]

Estimated fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2014 and 2013 in connection with the acquisitions described above (in thousands):

	NatPro	Tucker Tool	APS	Tool-Tech	B27	MT&S	Total
Cash	$            -	$            -	$            -	$      430	$     2,538	$     806	$    3,774
Accounts Receivable, net	14,549	505	1,424	1,505	51,448	5,656	75,087
Inventory	6,883	209	1,332	409	6,472	2,522	17,827
Property and equipment	3,317	-	172	19	14,573	557	18,638
Goodwill and intangibles	39,345	4,678	12,241	7,254	262,250	8,405	334,173
Other assets	698	-	389	2	1,163	59	2,311
Assets acquired	64,792	5,392	15,558	9,619	338,444	18,005	451,810
Current liabilities assumed	19,175	391	1,079	1,987	26,690	3,336	52,658
Non-current liabilities assumed	5,649	-	1,419	-	18,202	-	25,270
Net assets acquired	$  39,968	$  5,001	$ 13,060	$  7,632	$ 293,552	$14,669	$ 373,882

Pro forma unaudited results of operations

The pro forma unaudited results of operations for the Company on a consolidated basis for the three and nine months ended September 30, 2014 and 2013, assuming the acquisition of businesses completed in 2014 and 2013 were consummated as of January 1, 2013 are as follows (in thousands, except per share data):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2014	2013	2014	2013
Net sales	$   387,053	$    391,515	$ 1,130,108	$ 1,122,403
Net income	$     17,643	$      20,988	$      45,103	$      50,947
Per share data
Basic earnings	$         1.20	$          1.45	$          3.07	$          3.51
Diluted earnings	$         1.14	$          1.37	$         2.90	$          3.32