Acquisition of Magellan (Tables)

9 Months Ended

Jun. 30, 2016

Schedule of Business Combination Financial Results Included in Consolidated Statements of Operations

The results of Magellan included in the consolidated results of the Company for the three and nine months ended June 30, 2016 are as follows, reflecting the items noted above but excluding interest expense on the debt secured by Meridian in connection with the transaction:


	Three Months Ended June 30, 2016		Nine Months Ended June 30, 2016
Net Revenues	$	4,752	$	4,752
Net Earnings	$	231	$	231

Schedule of Preliminary Amounts of Identifiable Assets Acquired and Liabilities Assumed in Acquisition

The recognized preliminary amounts of identifiable assets acquired and liabilities assumed in the acquisition of Magellan are as follows:


	PRELIMINARY
	March 24, 2016 (as initially reported)		Measurement Period Adjustments			March 24, 2016 (as adjusted)
Fair value of assets acquired -
Cash and equivalents	$	3,420	$	(20	)	$	3,400
Accounts receivable		1,700		—			1,700
Inventories		1,400		—			1,400
Other current assets		330		10			340
Property, plant and equipment		2,790		(200	)		2,590
Goodwill		42,730		10			42,740
Other intangible assets (estimated useful life):
Customer relationships (15 years)		12,630		—			12,630
Technology (10 years)		10,550		—			10,550
Non-compete agreements (2 years)		740		—			740
Trade names (approximate 5 year weighted average)		3,690		—			3,690

		79,980		(200	)		79,780
Fair value of liabilities assumed -
Accounts payable and accrued expenses		1,610		(20	)		1,590
Deferred income tax liabilities		10,570		(70	)		10,500

Total consideration (including $2,198 accrued to be paid)	$	67,800	$	(110	)	$	67,690

Business Acquisition, Pro Forma Information

The consolidated pro forma results of the combined entities of Meridian and Magellan, had the acquisition date been October 1, 2014, are as follows for the periods indicated:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2016		2015		2016		2015
Net Revenues	$	50,665	$	52,255	$	156,722	$	159,225
Net Earnings	$	8,776	$	8,698	$	26,194	$	25,446
Diluted Earnings Per Common Share	$	0.21	$	0.21	$	0.62	$	0.61