Business Combinations (Tables)

6 Months Ended

Jun. 27, 2014

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		Six Months Ended		Cumulative Costs
	June 27, 2014		June 27, 2014		June 27, 2014
Acquisition-related costs	$	18	$	668	$	975

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		7,907
Inventory		7,526
Property and equipment		904
Intangible assets		40,250
Other assets		1,979
Goodwill		44,428

Total assets acquired		104,134


Accounts payable		3,057
Other liabilities		1,944
Deferred tax liabilities		4,337

Total liabilities assumed		9,338

Total purchase price		94,796
Less cash acquired		(1,140	)

Total purchase price, net of cash acquired	$	93,656

Fair Value of Intangible Assets

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


	Estimated Fair Value		Weighted Average Amortization Period
Customer relationships	$	23,570		20 years
Developed technology		10,910		10 years
Trademarks and trade names		2,130		10 years
Backlog		1,810		1 year
Non-compete covenant		1,830		5 years

Total	$	40,250

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				Six Months Ended
	June 27, 2014		June 28, 2013		June 27, 2014		June 28, 2013
Sales	$	96,905	$	92,902	$	187,069	$	179,748
Income from continuing operations	$	3,825	$	1,290	$	7,062	$	2,268
Earnings per share - Basic	$	0.11	$	0.03	$	0.20	$	0.06
Earnings per share - Diluted	$	0.11	$	0.03	$	0.20	$	0.06