Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.8.0.1
ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2017
Business Acquisition [Line Items]  
Schedule of preliminary allocation of the total consideration paid to the fair value of the assets acquired and liabilities assumed
The following table shows the initial estimate of value as reported at March 31, 2017 and revisions made during the second quarter of 2017:
 
Initial
 
Revised
 
estimate
Revisions
estimate
Inventories
$
5,434,000

$
—

$
5,434,000

Other current assets - production and maintenance supplies
1,548,701

—

1,548,701

Equipment
7,576,733

—

7,576,733

Customer list intangible
992,000

—

992,000

Goodwill
3,589,342

1,059,453

4,648,795

Contingent consideration
(3,604,330
)
(1,059,453
)
(4,663,783
)
Other liabilities assumed
(582,933
)
—

(582,933
)
 
$
14,953,513

$
—

$
14,953,513

Business acquisition, pro forma information
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. The three months ended September 30, 2017 are not presented as those results already include Bristol Metal-Munhall's results.
Pro-Forma (Unaudited)
 
 
 
Three Months Ended
 
 
 
Sep 30, 2016
Pro-forma revenues


 
$
40,172,000

Pro-forma net loss


 
(3,573,000
)
Loss per share:
 
 
 
   Basic


 
$
(0.41
)
   Diluted


 
$
(0.41
)
 
 
 
 
 
Nine Months Ended
 
Sep 30, 2017
 
Sep 30, 2016
Pro-forma revenues
$
153,235,000

 
$
122,117,000

Pro-forma net income (loss)
368,000

 
(7,347,000
)
Earnings (loss) per share:
 
 
 
   Basic
$
0.04

 
$
(0.85
)
   Diluted
$
0.04

 
$
(0.85
)