Acquisition (Tables)

9 Months Ended

Sep. 29, 2013

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition:


	Estimated Fair Values
*($ in thousands)*	At December 21, 2012
Current assets	$	13,839
Property, plant and equipment		8,635
Goodwill		26,991
Amortizable intangible assets		18,330
In-process research and development		500
Other assets		678

Fair value of assets acquired		68,973
Less fair value of liabilities acquired		(5,473	)

Net cash paid	$	63,500

Summary of Net Sales and Earnings Before Income Taxes

The following table summarizes the net sales and earnings before income taxes of D&R that are included in CTS’ Condensed Consolidated Statements of Earnings for the three and nine months ended September 29, 2013:


	Three Months Ended		Nine Months Ended
*($ in thousands)*	September 29, 2013		September 29, 2013
Net Sales	$	11,820	$	37,716
Earnings before income taxes	$	602	$	2,458

Summary of Pro-forma Net Sales and Earnings Before Income Taxes

The following table summarizes the pro-forma combined net sales and earnings before income taxes of CTS, D&R and Valpey-Fisher on a pro forma basis for the three and nine months ended as if the acquisition dates had occurred on January 1, 2011:


	Three Months Ended		Nine Months Ended
	September 30, 2012		September 30, 2012
*($ in thousands)*	(Unaudited Proforma)		(Unaudited Proforma)
Net Sales	$	149,508	$	478,608
Earnings before income taxes	$	7,997	$	16,634