Acquisition of Florida Chemical Company, Inc. (Tables)

6 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Acquisition purchase price

The purchase consideration transferred is as follows (in thousands):

Cash	$	49,500
Common stock (3,284,180 shares)	52,711
Repayment of debt	4,227
Total purchase price	$	106,438

Schedule of purchase price allocation to acquired net assets

The excess of the purchase price over the estimated fair value of tangible and identifiable intangible assets acquired and liabilities assumed was allocated to goodwill. The allocation of purchase consideration is as follows (in thousands):

Cash	$	331
Net working capital, net of cash	15,574
Property and equipment:
Personal property	13,400
Real property	6,750
Other assets	205
Other intangible assets:
Customer relationships	29,270
Trade names	12,670
Proprietary technology	14,080
Goodwill	39,328
Deferred tax impact of valuation adjustment	(25,170		)
Total purchase price allocation	$	106,438

Schedule of pro forma operating results

	Three months ended June 30,				Six months ended June 30,
	2013		2012		2013		2012
Revenue	$	100,324	$	100,943	$	196,174	$	204,209
Net income	9,099		13,482		18,072		16,986
Earnings per common share:
Basic	$	0.18	$	0.28	$	0.36	$	0.35
Diluted	$	0.17	$	0.25	$	0.34	$	0.34