Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Preliminary Allocation of Total Consideration of Assets Acquired and Liabilities Assumed
The following table shows the initial estimate of value and revisions made during 2019:
(in thousands)
Initial estimate
 
Revisions
 
Final
Inventories
$
5,564

 
$
—

 
$
5,564

Accounts receivable
3,534

 
—

 
3,534

Other current assets - production and maintenance supplies
605

 
—

 
605

Property, plant and equipment
2,793

 
—

 
2,793

Customer list intangible
10,000

 
(496
)
 
9,504

Goodwill
7,044

 
714

 
7,758

Contingent consideration (earn-out liability)
(6,148
)
 
(218
)
 
(6,366
)
Accounts payable
(1,400
)
 
—

 
(1,400
)
Other liabilities
(97
)
 
—

 
(97
)
 
$
21,895

 
$
—

 
$
21,895


Schedule of Unaudited Pro Forma Financial Information
ASTI's results of operations are reflected in the Company's Condensed Consolidated Statements of Operations as follows:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in thousands)
2020
 
2019
 
2020
 
2019
Net sales
$
7,255

 
$
8,557

 
$
14,900

 
$
18,070

Income before taxes
$
1,377

 
$
992

 
$
1,718

 
$
1,099