Business Acquisitions

3 Months Ended

Jul. 31, 2013

Business Combinations [Abstract]

Business Acquisitions

2. BUSINESS ACQUISITIONS

During the three months ended July 31, 2013, we did not acquire any businesses. During the three months ended July 31, 2012, we acquired a solid waste hauling operation in the Western region for total consideration of $3,500, including $3,150 in cash and $350 in holdbacks to the sellers. The operating results of this business is included in the accompanying unaudited consolidated statements of operations from the date of acquisition, and the purchase price has been allocated to the net assets acquired based on fair values at the date of acquisition, with the residual amounts recorded as goodwill. Acquired intangible assets other than goodwill that are subject to amortization include client lists and non-compete covenants. These are amortized over a five to ten year period from the date of acquisition. All amounts recorded to goodwill are expected to be deductible for tax purposes. The purchase price allocated to net assets acquired and the residual amount allocated to goodwill during the three months ended July 31, 2013 and 2012 are as follows:

	Three Months Ended July  31,
	2013		2012
Equipment	$	—	$	2,225
Goodwill		—		810
Intangible assets		—		546
Current liabilities		—		(81	)
Total	$	—	$	3,500

The following unaudited pro forma combined financial information shows the results of our operations for the three months ended July 31, 2013 and 2012 as though each of the acquisitions made in the twelve months ended April 30, 2013 had occurred as of May 1, 2012.

	Three Months Ended
	July 31,
	2013			2012
Revenue	$	128,558		$	121,851
Operating income	$	9,737		$	6,105
Net loss attributable to common stockholders	$	(191	)	$	(8,506	)
Basic and diluted loss per common share attributable to common stockholders	$	(0.00	)	$	(0.32	)
Basic and diluted weighted average shares outstanding		39,662			26,992

The pro forma results set forth in the table above have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisitions occurred as of May 1, 2012 or the results of our future operations. Furthermore, the pro forma results do not give effect to all cost savings or incremental costs that may occur as a result of the integration and consolidation of the completed acquisitions.