|
Acquisitions and Disposals (Tables)
|
12 Months Ended |
|
Mar. 31, 2015
|
| Mirror Image International Holdings Pvt Ltd |
|
| Summary of Final Fair Values of Assets Acquired and Liabilities Assumed |
The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition.
|
|
|
|
|
|
Cash
|
$
|
513
|
|
|
Accounts receivable
|
|
2,809
|
|
|
Prepaid expenses and other assets
|
|
896
|
|
|
Property, plant and equipment
|
|
300
|
|
|
Customer relationships
|
|
1,600
|
|
|
Developed technology
|
|
3,400
|
|
|
Trade names / trademarks
|
|
54
|
|
|
Library
|
|
300
|
|
|
Goodwill
|
|
2,654
|
|
|
Accounts payable
|
|
(1,151
|
)
|
|
Accrued liabilities
|
|
(2,890
|
)
|
|
Accrued compensation
|
|
(345
|
)
|
|
Purchase price
|
$
|
8,140
|
|
|
| Amortization Period for Intangible Assets Acquired |
The amortization period for the intangible assets acquired in the MIA transaction is as follows:
|
|
Remaining
|
|
|
Useful Life
|
|
Customer relationships
|
14
|
|
Developed technology
|
5
|
|
Trade names / trademarks
|
5
|
|
Library
|
5
|
|
Goodwill
|
Indefinite
|
|
| DT Media (Appia) |
|
| Summary of Final Fair Values of Assets Acquired and Liabilities Assumed |
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition.
|
|
|
|
|
|
Cash
|
$
|
1,363
|
|
|
Accounts receivable
|
|
7,364
|
|
|
Prepaid expenses and other assets
|
|
171
|
|
|
Property, plant and equipment
|
|
229
|
|
|
Developed technology
|
|
7,700
|
|
|
Advertiser relationships
|
|
6,500
|
|
|
Publisher relationships
|
|
3,200
|
|
|
Trade names / trademarks
|
|
380
|
|
|
Goodwill
|
|
69,438
|
|
|
Accounts payable
|
|
(5,179
|
)
|
|
Accrued expenses
|
|
(4,531
|
)
|
|
Debt
|
|
(11,600
|
)
|
|
Purchase price
|
$
|
75,035
|
|
|
| Amortization Period for Intangible Assets Acquired |
The amortization period for the intangible assets acquired in the DT Media, Inc. transaction is as follows:
|
|
Remaining
|
|
|
Useful Life
|
|
Developed technology
|
4 years
|
|
Trade names / Trademarks
|
2 years
|
|
Publisher relationships
|
2 years
|
|
Advertiser relationships
|
2 years
|
|
Goodwill
|
Indefinite
|
|
| Pro Forma Financial Information |
The pro forma financial information of the Company’s consolidated operations if the acquisition of DT Media, Inc. had occurred as of April 1, 2013 is presented below.
|
|
Unaudited
|
|
|
|
Twelve Months Ended
|
|
|
|
March 31,
|
|
|
|
2015
|
|
|
2014
|
|
|
Revenues
|
$
|
57,978
|
|
|
$
|
73,533
|
|
|
Cost of goods sold
|
|
45,580
|
|
|
|
52,638
|
|
|
Gross profit
|
|
12,398
|
|
|
|
20,895
|
|
|
Operating expenses
|
|
43,644
|
|
|
|
37,072
|
|
|
Loss from operations
|
|
31,247
|
|
|
|
16,177
|
|
|
Non-operating expense
|
|
3,372
|
|
|
|
1,950
|
|
|
Provision for income taxes
|
|
541
|
|
|
|
864
|
|
|
Net loss
|
$
|
35,160
|
|
|
$
|
18,991
|
|
|
Basic and diluted loss per share
|
$
|
0.90
|
|
|
$
|
0.49
|
|
|
| Combined Consolidated Operating Results |
The combined consolidated operating results from the acquisition date to March 31, 2015 are as follows:
|
|
Unaudited
|
|
|
Revenues
|
$
|
3,251
|
|
|
Cost of goods sold
|
|
3,227
|
|
|
Gross profit
|
|
24
|
|
|
Operating expenses
|
|
1,194
|
|
|
Loss from operations
|
|
1,170
|
|
|
Non-operating expense
|
|
113
|
|
|
Provision for income taxes
|
|
-
|
|
|
Net loss
|
$
|
1,283
|
|
|