Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.5.0.2
Acquisitions (Tables)
9 Months Ended
Jun. 30, 2016
Schedule of consolidated pro-forma unaudited financial statements
Pro Forma, unaudited  

Three Months Ended

June 30, 2015

   

Nine Months Ended

June 30, 2016

   

Nine Months Ended

June 30, 2015

 
                   
Net sales   $ 23,718     $ 66,058     $ 69,647  
Cost of sales   $ 17,671     $ 47,571     $ 52,096  
Operating expenses   $ 5,574     $ 17,737     $ 16,698  
Net income (loss)   $ 449     $ (8 )   $ (1,842 )
Basic  income  (loss) per common share   $ 0.05     $ (0.00 )   $ (0.20 )
Dilutive income (loss) per common share   $ 0.05     $ (0.00 )   $ (0.20 )
Schedule of consolidated financial statements

The Company's consolidated financial statements for the three and nine months ended June 30, 2016 include the actual results of Scribe Solutions Inc., Agile Resources, Inc., Access Data Consulting Corporation and Paladin Consulting, Inc. since the date of acquisition, respectively.

 

Revenue and net income for each acquisition for the 3 months ended June 30, 2016 included in the statement of operations (in Thousands)   Revenue     Net Income  
Scribe Solutions, Inc.   $ 925     $ 197  
Agile Resources, Inc.   $ 2,940     $ 262  
Access Data Consulting Corporation   $ 4,656     $ 333  
Paladin Consulting, Inc.   $ 5,263     $ 375  

 

Revenue and net income for each acquisition for the 9 months ended June 30, 2016 included in the statement of operations (in Thousands)   Revenue     Net Income  
Scribe Solutions, Inc.   $ 3,324     $ 673  
Agile Resources, Inc.   $ 8,829     $ 743  
Access Data Consulting Corporation   $ 14,110     $ 1,054  
Paladin Consulting, Inc.   $ 9,816     $ 405  
Scribe [Member]  
Allocation of intangible assets

The intangibles were recorded, based on the Company's estimate of fair value, which consist primarily of customer lists and trade name with an estimated life of ten years and goodwill.

 

(in Thousands)

 

$ 676     Assets Purchased
  452     Liabilities Assumed
  224     Net Assets Purchased
  7,730     Purchase Price
$ 7,506     Intangible Asset from Purchase

 

The primary intangible assets acquired have been identified as the customer list, trade name and goodwill and have been allocated as follows:

 

$ 1,470     Customer relationships
  746     Trade name
  5,290     Goodwill
$ 7,506     Intangible Asset from Purchase 
Agile [Memeber]  
Allocation of intangible assets

The intangibles were recorded, based on the estimated of fair value, which consist primarily of customer relationships with an estimated life of five to ten years and goodwill.

 

(in Thousands)

 

$ 1,571     Assets Purchased
  1,479     Liabilities Assumed
  92     Net Assets Purchased
  3,507     Purchase Price
$ 3,415     Intangible Asset from Purchase

 

Intangible asset detail

 

$ 1,071     Intangible asset customer relationships
  295     Intangible asset trade name
  225     Intangible asset non-compete agreement
  1,824     Goodwill
$ 3,415     Intangible Asset from Purchase
Access [Member]  
Allocation of intangible assets

The intangibles were recorded, based on the estimated of fair value, which consist primarily of customer lists with an estimated life of five to ten years and goodwill.

 

(in Thousands)

 

$ 3,597     Assets Purchased
  1,659     Liabilities Assumed
  1,938     Net Assets Purchased
  15,568     Purchase Price
$ 13,630     Intangible Asset from Purchase

 

Intangible asset detail

 

$ 4,566     Intangible asset customer relationships
  756     Intangible asset trade name
  593     Intangible asset non-compete agreement
  7,715     Goodwill
$ 13,630     Intangible Asset from Purchase
Paladin [Member]  
Allocation of intangible assets

The intangibles were recorded, based on the estimated fair value, which are expected to consist primarily of customer lists, trade name and a non-compete agreement with estimated lives of five to ten years and goodwill. Upon completion of an independent purchase price allocation and valuation, the allocation intangible assets will be adjusted accordingly.

 

(in Thousands)

 

$ 2,460     Assets Purchased
  3,693     Liabilities Assumed
  (1,233 )   Net Assets Purchased
  2,625     Purchase Price
$ 3,858     Intangible Asset from Purchase

  

Intangible asset detail

 

$ 947     Intangible asset customer list
  615     Intangible asset trade name
  242     Intangible asset non-compete agreement
  2,054     Goodwill
$ 3,858     Intangible Asset from Purchase