Note 13 Acquisition

9 Months Ended

Jun. 28, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Business Combinations

First Quarter of 2014

On December 18, 2013, the Company completed its acquisition of a manufacturing operation in the oil and gas industry. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. The acquisition increases the Company's precision machining, assembly, integration and test capabilities for the oil and gas industry.

The acquisition did not significantly affect the Company’s results of operations for the three and nine months ended June 28, 2014.

Cash consideration paid by the Company for this acquisition was $54.1 million. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition. The purchase price was allocated to the acquired assets and liabilities assumed as follows:

	(In thousands)
Current assets	$	7,343
Noncurrent assets (including tangible assets of $34.7 million)	48,588
Current liabilities	(1,870		)
Total	$	54,061

Goodwill and identifiable intangible assets are recorded in other non-current assets on the unaudited condensed consolidated balance sheet. Identifiable intangible assets are being amortized to cost of goods sold, primarily over 5 years.

Third Quarter of 2014

On April 28, 2014, the Company completed its acquisition of a manufacturing operation that primarily produces industrial-related products serving multiple end-user markets. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. The acquisition augments the Company's current manufacturing footprint and technological capabilities for serving this diverse end-user customer base.

The acquisition did not significantly affect the Company’s results of operations for the three months ended June 28, 2014. Total consideration paid for this acquisition was $40.2 million, consisting of $25.4 million of cash and non-interest bearing notes payable with a discounted value of $14.8 million. The purchase price has been allocated based on management's estimate of the acquisition date fair value of each of the tangible and intangible assets and liabilities acquired. Management is in the process of finalizing fair value amounts for certain assets acquired and liabilities assumed. The following represents the Company's preliminary allocation of the purchase price to the acquired assets and liabilities assumed:

	(In thousands)
Current assets	$	27,376
Noncurrent assets	14,789
Current liabilities	(1,929		)
Total	$	40,236