Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Business Acquisition Proforma Information

The following pro forma information gives effect to all the acquisitions described above as if they had been consummated on January 1, 2013 (in thousands):


(in thousands)	September 30, 2014			December 31, 2013
Revenues	$	63,024		$	80,609
Operating loss		(7,336	)		(14,539	)
Net loss		(3,614	)		(24,398	)

Value Lighting

Preliminary Values Assigned to Assets Acquired and Liabilities Assumed

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed from the Value Lighting acquisition. The excess of the purchase price over the estimated fair value of the net tangible assets acquired was allocated to intangible assets of approximately $19.8 million and goodwill of approximately $17.8 million. The final determination of the fair value of certain assets and liabilities including income taxes and contingencies will be completed within the one-year measurement period from the date of acquisition as required by the FASB ASC Topic 805, “Business Combinations.”


(in thousands)
Cash	$	35
Accounts receivable		8,617
Inventory		8,241
Goodwill		17,837
Customer relationships		12,140
Trade names		4,930
Backlog		2,370
Non-compete agreements		260
Other intangibles		116
Other assets		2,900

Assets acquired		57,446

Accounts payable		8,919
Accrued liabilities		1,375
Other current liabilities		1,421
Other liabilities		1032
Deferred income tax liability		5,554

Liabilities assumed		18,301

Preliminary purchase price	$	39,145

Tri-State LED, Inc.

Preliminary Values Assigned to Assets Acquired and Liabilities Assumed

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed from the Tri-State acquisition.


(in thousands)
Accounts receivable	$	468
Inventory		310
Goodwill		2,786
Customer relationships		1,680
Non-compete agreements		480
Other intangibles		738
Other assets		38

Assets acquired		6,500

Accounts payable		440
Accrued liabilities		208
Other current liabilities		80

Liabilities assumed		728

Preliminary purchase price	$	5,772