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ACQUISITIONS (Tables)
12 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Purchase Price Allocation Based on Estimated Fair Values of Assets Acquired and Liabilities Assumed as of Acquisition Date

The following table is a summary of the assets acquired, liabilities assumed, and net cash consideration paid for Crest during fiscal 2019:

 

 

Fair Value

 

Accounts receivable

 

$

5,215

 

Inventories

 

 

9,853

 

Other current assets

 

 

179

 

Property, plant and equipment

 

 

1,840

 

Identifiable intangible assets(a)

 

 

35,245

 

Current liabilities

 

 

(6,841

)

Fair value of assets acquired and liabilities assumed

 

 

45,491

 

Goodwill(a)

 

 

36,238

 

Net cash consideration paid

 

$

81,729

 

Schedule of Fair Value Estimates of Identifiable Intangible Assets Acquired

 

 

Fair Value

 

 

Estimated Useful

Life (in years)

Definite-lived intangible assets:

 

 

 

 

 

 

Dealer network

 

$

18,000

 

 

10

Software

 

 

245

 

 

5

Indefinite-lived intangible asset:

 

 

 

 

 

 

Trade name

 

 

17,000

 

 

 

Total identifiable intangible assets

 

$

35,245

 

 

 

 

Schedule of Pro Forma Financial Information The unaudited pro forma financial information is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal year 2018, or the results that may occur in the future:

 

 

Fiscal Years Ended

 

 

2019

 

 

2018

 

Net sales

$

487,374

 

 

$

423,630

 

Net income

$

21,619

 

 

$

38,269

 

Basic earnings per share

$

1.16

 

 

$

2.06

 

Diluted earnings per share

$

1.15

 

 

$

2.04