Business Combinations (Tables)

3 Months Ended

Mar. 28, 2014

Acquisition Related Costs Recognized in Consolidated Statements of Operations

Acquisition-related costs are included in restructuring and acquisition related costs in the consolidated statements of operations. Acquisition related costs are as follows (in thousands):

	Three Months Ended		Cumulative Costs
	March 28, 2014		March 28, 2014
Acquisition-related costs	$	650	$	957

Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation

Based upon a preliminary valuation, the total purchase price was allocated as follows (in thousands):

	Purchase Price Allocation
Cash	$	1,140
Accounts receivable		7,929
Inventory		7,856
Property and equipment		904
Intangible assets		40,512
Other assets		1,980
Goodwill		44,026
Total assets acquired		104,347
Accounts payable		3,067
Other liabilities		2,031
Deferred tax liabilities		4,389
Total liabilities assumed		9,487
Total purchase price		94,860
Less cash acquired		(1,140	)
Total purchase price, net of cash acquired	$	93,720

Fair Value of Intangible Assets

The preliminary fair value of intangible assets is comprised of the following dollar amounts (in thousands):

	Estimated Fair Value		Weighted Average Amortization Period
Customer relationships	$	24,136		20 years
Developed technology		11,129		10 years
Trademarks and trade names		2,129		10 years
Backlog		1,631		1 year
Non-compete covenant		1,487		5 years
Total	$	40,512

Pro forma Financial Information

The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place at the beginning of 2013.

	Three Months Ended
	March 28, 2014		March 29, 2013
Sales	$	90,164	$	86,846
Income from continuing operations	$	3,237	$	978
Earnings per share - Basic	$	0.09	$	0.03
Earnings per share - Diluted	$	0.09	$	0.03