Ascent Industries Co. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Preliminary Allocation of Total Consideration of Assets Acquired and Liabilities Assumed

The preliminary allocation of the total consideration paid to the fair value of the assets acquired and liabilities assumed as of January 1, 2019 is as follows:



Inventories	$	5,564,000
Accounts receivable	3,533,921
Other current assets - production and maintenance supplies	605,613
Property, plant and equipment	2,793,173
Customer list intangible	10,000,000
Goodwill	7,043,534
Contingent consideration (earn-out liability)	(6,148,230		)
Accounts payable	(1,400,009		)
Other liabilities	(96,593		)
	$	21,895,409

Schedule of Pro-Forma and Results of Operations Since Acquisition

The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on the date indicated above.



Pro-Forma
	Three Months Ended
	Mar 31, 2018
Pro-forma net sales	$	67,006,777
Pro-forma net (loss) income	$	3,208,122
(Loss) earnings per share:
Basic	$	0.37
Diluted	$	0.37

Munhall-Galvanized's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows:



	Three Months Ended
	Mar 31, 2019
Net sales	$	6,692,235
Income before income taxes	346,403

ASTI's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows:



	Three Months Ended
	Mar 31, 2019
Net sales	$	9,513,220
Income before income taxes	107,121