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BUSINESS COMBINATION (Tables)
6 Months Ended
Jun. 30, 2015
BUSINESS COMBINATION  
Summary of consideration paid and the preliminary fair value of assets acquired and liabilities assumed at the acquisition date with purchase price allocation adjustments

The following table summarizes the consideration paid for EQ and the fair value estimates of assets acquired and liabilities assumed recognized at the acquisition date, with purchase price allocation adjustments since the preliminary purchase price allocation as previously disclosed as of December 31, 2014:

 

 

 

Purchase Price Allocation

 

$s in thousands

 

As Reported in
Form 10-K

 

Adjustments

 

As Retrospectively
Adjusted

 

Current assets

 

$

111,982

 

$

27

 

$

112,009

 

Property and equipment

 

101,543

 

 

101,543

 

Identifiable intangible assets

 

252,874

 

 

252,874

 

Current liabilities

 

(57,585

)

(727

)

(58,312

)

Other liabilities

 

(139,331

)

263

 

(139,068

)

 

 

 

 

 

 

 

 

Total identifiable net assets

 

269,483

 

(437

)

269,046

 

Goodwill

 

197,163

 

437

 

197,600

 

 

 

 

 

 

 

 

 

Total purchase price

 

$

466,646

 

$

 

$

466,646

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$s in thousands

 

Fair Value

 

Weighted Average
Amortization Period
(Years)

 

Customer relationships

 

$

98,400 

 

15

 

Permits and licenses

 

89,600 

 

45

 

Permits and licenses, nonamortizing

 

49,000 

 

 

Tradename

 

5,481 

 

3

 

Customer backlog

 

4,600 

 

10

 

Developed software

 

3,443 

 

9

 

Non-compete agreements

 

900 

 

1

 

Internet domain and website

 

869 

 

19

 

Database

 

581 

 

15

 

 

 

 

 

 

 

Total identifiable intangible assets

 

$

252,874 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of unaudited pro forma financial information

 

 

 

 

(unaudited)

 

(unaudited)

 

 

 

Three Months Ended

 

Six Months Ended

 

$s in thousands, except per share amounts

 

June 30, 2014

 

June 30, 2014

 

Pro forma combined:

 

 

 

 

 

Revenue

 

$

149,121 

 

$

287,232 

 

Net income

 

$

6,297 

 

$

11,503 

 

Earnings per share

 

 

 

 

 

Basic

 

$

0.29 

 

$

0.53 

 

Diluted

 

$

0.29 

 

$

0.53