Acquisitions, Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2015

Consideration Transferred

The total consideration transferred follows (in thousands):

Cash consideration,	$	21,170
Value of common stock issued		4,000
Estimated fair value of contingent consideration		1,370
Total consideration transferred	$	26,540

Components and Allocation of Purchase Price

The components and allocation of the purchase price consists of the following amounts (in thousands):

Accounts receivable	$	1,647
Inventory		1,003
Other current assets		184
Fixed assets		85
Customer relationships		6,400
Developed technology		2,000
In process research and development (“IPR&D”)		1,600
Trademark and trade name		700
Accounts payable and other liabilities assumed		(431	)
Goodwill		13,352
Net assets acquired	$	26,540

Unaudited Supplemental Pro Forma Information

The following table presents unaudited supplemental pro forma information for the three- and nine-month periods ended September 30, 2014, as if the Refine Acquisition had occurred as of January 1, 2014.

	(in thousands, except per share amounts)
	Three months ended September 30, 2014		Nine months ended September 30, 2014
Total revenue	$	15,278	$	50,937
Net income		1,848		9,890
Earnings per share:
Basic	$	0.04	$	0.29
Diluted	$	0.04	$	0.28

Other Intangible Assets - Finite-Lived

Other intangible assets consisted of the following at September 30, 2015:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Weighted Average Useful Life (in years)
Technology – developed	$	3,295	$	(953	)		12
In process research and development		1,600		—			—
Patents		240		(170	)		8
Customer relationships		11,804		(3,362	)		9
Trademark/ tradename		700		—			—
Total other intangible assets	$	17,639	$	(4,485	)		10

Other intangible assets consisted of the following at December 31, 2014:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Weighted Average Useful Life (in years)
Technology – developed	$	3,338	$	(750	)		12
In process research and development		1,600		—			—
Patents		240		(148	)		8
Customer relationships		12,202		(2,546	)		9
Trademark/ tradename		700		—			—
Total other intangible assets	$	18,080	$	(3,444	)		10

Schedule of Amortization Expense for Amortized Intangible Assets

In each of the next five years, the Company expects to record amortization expense (in thousands) of:

Years Ending	Amortization Expense
December 31, 2015 (three months remaining)	$	443
December 31, 2016		1,703
December 31, 2017		1,703
December 31, 2018		1,539
December 31, 2019		1,524
December 31, 2020		1,202