Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v2.4.1.9
Acquisitions (Tables)
 9 Months Ended
Dec. 31, 2014
Business Acquisition [Line Items]  
Schedule of Purchase Price Allocation [Table Text Block]
The following table summarizes the fair value of the assets acquired and liabilities assumed as of the March 1, 2014, acquisition date:
(in thousands)
Preliminary Amounts Recognized as of Acquisition
 Date (1)
 
Measurement Period Adjustments
 
Final Amounts Recognized
 Cash
$
6,513

 
$
—

 
$
6,513

 Accounts receivable
2,920

 
(20
)
(c)
2,900

 Inventories
7,625

 
(242
)
(c)
7,383

 Prepaid expenses and other current assets
158

 
(23
)
(c)
135

 Property and equipment
816

 
(45
)
(c)
771

 Intangible assets
16,230

 
(57
)
(a)
16,173

 Accounts payable, accruals and other liabilities
(2,875
)
 
(37
)
(c)
(2,912
)
 Income tax payable
(1,175
)
 
—

 
(1,175
)
 Deferred income tax liability
(6,616
)
 
323

(a)
(6,293
)
 Goodwill
20,142

 
405

 
20,547

 Total Consideration
$
43,738

 
$
304

(b)
$
44,042

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The following table summarizes the acquired identified intangible assets, the respective fair value, and estimated useful life at the date of acquisition:
(in thousands)
 
Fair Value
 
Estimated Life
Backlog
 
$
90

 
1 month
Customer relationships
 
11,410

 
9 years
Trademark
 
303

 
1 year
Developed technology
 
3,860

 
3 years
Non-compete
 
510

 
2 years
Total intangible assets
 
$
16,173

 
 
Business Acquisition, Pro Forma Information [Table Text Block]
The following unaudited summary information is presented on a consolidated pro forma basis as if the CSI acquisition had occurred on April 1, 2012. The pro forma amounts reflect the accounting effects of the business combination, including the application of the Company's accounting policies, amortization of intangible assets based on the estimated fair value and the impact of other fair value purchase accounting impacts such as inventory valuation step-up. The pro forma results are based on historical information and is not necessarily indicative of the combined results had the acquisition been completed at April 1, 2012, nor are they indicative of future combined results.
(in thousands)
 
Three months ended December 31, 2013
 
Nine months ended December 31, 2013
Consolidated pro forma revenue
 
$
35,312

 
$
108,678

Consolidated pro forma operating income
 
$
2,498

 
$
6,607