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BUSINESS COMBINATION (Tables)
9 Months Ended
Sep. 30, 2014
RECEIVABLES  
Summary of consideration paid and the preliminary fair value of assets acquired and liabilities assumed at the acquisition date

 

 

 

Purchase Price Allocation

 

$s in thousands

 

June 30, 2014

 

Adjustments

 

September 30, 2014

 

Current assets

 

$

114,227

 

$

(1,028

)

$

113,199

 

Property and equipment

 

103,532

 

 

103,532

 

Identifiable intangible assets

 

250,900

 

 

250,900

 

Current liabilities

 

(56,550

)

(888

)

(57,438

)

Other liabilities

 

(131,336

)

177

 

(131,159

)

Total identifiable net assets

 

280,773

 

(1,739

)

279,034

 

Goodwill

 

190,894

 

1,739

 

192,633

 

Total purchase price

 

$

471,667

 

$

 

$

471,667

 

 

Schedule of fair value estimate of identifiable intangible assets by major intangible assets and related weighted average amortization period

 

$s in thousands

 

June 17, 2014

 

Weighted Average
Amortization Period
(Years)

 

Permits and licenses

 

$

119,500 

 

45

 

Customer relationships

 

115,000 

 

15

 

Tradename

 

9,900 

 

4

 

Customer backlog

 

3,600 

 

10

 

Non-compete agreements

 

1,400 

 

1

 

Internet domain and website

 

900 

 

19

 

Database

 

600 

 

15

 

Total identifiable intangible assets

 

$

250,900 

 

29

 

 

Schedule of unaudited pro forma financial information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(unaudited)

 

(unaudited)

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

$s in thousands, except per share amounts

 

2014

 

2013

 

2014

 

2013

 

Pro forma combined:

 

 

 

 

 

 

 

 

 

Revenue

 

$

170,894 

 

$

148,704 

 

$

458,091 

 

$

381,159 

 

Net income

 

$

13,333 

 

$

9,606 

 

$

24,835 

 

$

19,246 

 

Earnings per share

 

 

 

 

 

 

 

 

 

Basic

 

$

0.62 

 

$

0.52 

 

$

1.15 

 

$

1.05 

 

Diluted

 

$

0.61 

 

$

0.52 

 

$

1.15 

 

$

1.04