Quarterly report pursuant to sections 13 or 15(d)

Acquisitions/Purchase Price Accounting (Tables)

v2.4.0.6
Acquisitions/Purchase Price Accounting (Tables)
9 Months Ended
Dec. 31, 2012
Summary of Preliminary 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.

 

     Unaudited  

Cash

   $ 59   

Accounts receivable

     567   

Prepaid expenses and other assets

     178   

Customer relationships

     3,454   

Developed technology

     818   

Trade names / Trademarks

     143   

Non-compete agreements

     54   

Goodwill

     1,037   

Current liabilities

     (1,314

Long-term debt

     (35
  

 

 

 

Purchase price

   $ 4,961   
  

 

 

 
Amortization Period for Intangible Assets

The amortization period for the intangible assets is as follows:

 

     Remaining
Useful Life

Customer relationships

   10 years

Developed technology

   10 years

Trade names / Trademarks

   5 years

Non-compete agreements

   4 years

Goodwill

   Indefinite
Targets Combined Operating Results

The Targets’ combined operating results from the acquisition date to December 31, 2012 are as follows:

 

     Unaudited  

Revenue

   $ 1,780   

Cost of goods sold

     707   
  

 

 

 

Gross profit

   $ 1,073   

Operating expenses

     675   
  

 

 

 

Income from operations

     398   

Non-operating expenses, net

     178   

Provision for income tax

     33   
  

 

 

 

Net income

   $ 187   
  

 

 

 
Pro Forma Financial Information

The pro forma financial information of the Company’s consolidated operations if the acquisition of the Targets had occurred as of April 1, 2011 is presented below.

 

     Unaudited  
     Nine Months Ended December 31,  
     2012     2011  

Revenues

   $ 7,167      $ 14,652   

Cost of goods sold

     3,742        10,537   
  

 

 

   

 

 

 

Gross profit

     3,425        4,115   

Operating expenses

     11,977        11,846   
  

 

 

   

 

 

 

Loss from operations

     (8,552     (7,731

Non-operating expense

     (1,634     (1,492
  

 

 

   

 

 

 

Loss before provision for income taxes

     (10,186     (9,223

Provision for income taxes

     67        63   
  

 

 

   

 

 

 

Net loss

   $ (10,253   $ (9,286
  

 

 

   

 

 

 

Basic and diluted loss per share

   $ (0.12   $ (0.22