Business Combinations (Tables)

9 Months Ended

Sep. 26, 2014

Business Combinations [Abstract]

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		Nine Months		Cumulative
	Ended		Ended		Costs
	September 26,		September 26,		September 26,
	2014		2014		2014
Acquisition-related costs	$	—	$	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):

	PurchasePrice
	Allocation
Cash	$	1,140
Accounts receivable		7,907
Inventory		6,791
Property and equipment		904
Intangible assets		40,250
Goodwill		45,045
Other assets		1,979
Total assets acquired		104,016
Accounts payable		3,057
Other liabilities		2,074
Deferred tax liabilities		4,089
Total liabilities assumed		9,220
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):

			Weighted Average
	Estimated Fair		Amortization
	Value		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 information purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had actually taken place at the beginning of 2013.

	ThreeMonths Ended				Nine Months Ended
	September 26,		September 27,		September 26,		September 27,
	2014		2013		2014		2013
Sales	$	94,656	$	93,681	$	281,725	$	273,429
Income from continuing operations	$	5,342	$	2,591	$	12,404	$	4,859
Earnings per share from continuing operations - Basic	$	0.15	$	0.08	$	0.35	$	0.14
Earnings per share from continuing operations - Diluted	$	0.15	$	0.08	$	0.35	$	0.14