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BUSINESS COMBINATIONS (Tables)
6 Months Ended
Jun. 30, 2014
Business Combinations [Abstract]  
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions approximated the following:

 

           Ace              U.S. Insulation    

Accounts receivable

     $ 213         $ 1,122     

Inventory

     14         234     

Other current assets

     -             120     

Property and equipment

     263         520     

Intangibles

     1,106         846     

Goodwill

     -             1,202     

Accounts payable and accrued expenses

     (609)         (1,362)    

Deferred tax liability

     -             (397)    
  

 

 

    

 

 

 

Total purchase price

     $ 987         $ 2,285     
  

 

 

    

 

 

 

Seller obligations

     $ 300         $ 279     

Cash paid

     687         2,006     
  

 

 

    

 

 

 

Total purchase price

     $ 987         $ 2,285     
  

 

 

    

 

 

 
Estimates of Acquired Intangible Assets

Estimates of acquired intangible assets related to the acquisitions are as follows:

 

     Ace      U.S. Insulation  

  Acquired intangibles assets  

   Estimated
Fair Value
    

 

Weighted
Average
Estimated
Useful
Life (yrs)

     Estimated
Fair Value
     Weighted
Average
Estimated
Useful
Life (yrs)
 

Customer relationships

     $ 826           10             $ 546           10       

Trademarks and trade names

       280           15             216           15       

Non-competition agreements

     -             -             84           5       
Pro Forma Results of Operations

The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2013 and 2012, and the unaudited pro forma information does not purport to be indicative of future financial operating results.

 

     Pro forma for the three      Pro forma for the six  
     months ended June 30,      months ended June 30,  
     2014      2013      2014      2013  

Net revenue

     $     126,348           $     106,807           $     234,337           $     201,428     

Net income

     2,307           1,252           2,825           646     

Net income (loss) attributable to common stockholders

     2,307           (280)          (17,072)          (2,373)    

Net income (loss) per share attributable to common stockholders (basic and diluted)

     0.07           (0.01)          (0.60)          (0.11)