Acquisition (Tables)

9 Months Ended

Apr. 30, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the final estimated fair values of the assets acquired and liabilities assumed in connection with the TCS acquisition:

	Purchase Price Allocation
Shares of TCS common stock purchased	$	318,605,000
Stock-based awards settled	21,827,000
Aggregate purchase price at fair value	$	340,432,000
Allocation of aggregate purchase price:
Cash and cash equivalents	$	59,897,000
Current assets	115,913,000
Deferred tax assets, net, non-current	85,490,000
Property, plant and equipment	25,689,000
Other assets, non-current	2,641,000
Current liabilities (excluding interest accrued on debt)	(123,956,000		)
Debt (including interest accrued)	(134,101,000		)
Capital lease obligations	(8,993,000		)
Other liabilities	(9,156,000		)
Net tangible assets at fair value	$	13,424,000
Identifiable intangible assets, deferred taxes and goodwill:				Estimated Useful Lives
Customer relationships and backlog	$	223,100,000		21 years
Trade names	20,000,000			10 to 20 years
Technology	35,000,000			5 to 15 years
Deferred tax liabilities	(104,371,000		)
Goodwill	153,279,000			Indefinite
Allocation of aggregate purchase price	$	340,432,000

Business Acquisition, Pro Forma Information

The unaudited pro forma financial information in the table below, for the nine months ended April 30, 2016, combines the historical results of Comtech for the nine months ended April 30, 2016 and, due to the differences in the companies’ reporting periods, the historical results of TCS for the nine months ended March 31, 2016, as if the acquisition had occurred on August 1, 2014.

	Three months ended April 30, 2016			Nine months ended April 30, 2016
Net sales	$	130,238,000		$	453,475,000
Net loss	(21,395,000		)	(27,694,000		)
Basic net loss per share	(1.32		)	(1.71		)
Diluted net loss per share	(1.32		)	(1.71		)