Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

Acquisition (Tables)
6 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Schedule of Purchase Price

The computation of purchase price consideration and the preliminary allocation of consideration to the net assets acquired are presented in the following tables (in thousands):


Purchase price:      
Cash Consideration, net of cash acquired(a)   $ 6,177  
Stock Consideration(b)     9,028  
Total purchase price, net of cash acquired   $ 15,205  

(a)Includes $7,952,000 paid at closing (inclusive of a preliminary working capital adjustment) net of $1.8 million of cash acquired.

(b)Calculated as 338,115 shares of common stock, multiplied by $26.70, the closing price of the Company’s common

Schedule of Allocation of Purchase Price Consideration
Allocation of purchase price consideration (in thousands):      
Accounts receivable   $ 3,416  
Inventory     2,747  
Other assets     1,565  
Property, plant and equipment     806  
Intangible assets     5,100  
Accounts payable and accrued expenses     (2,220 )
Customer deposits     (1,289 )
Total identifiable net assets     10,125  
Goodwill     5,080  
Total   $ 15,205  
Schedule of Supplemental Pro Forma Results of Operations

The following unaudited supplemental pro forma information presents the results of operations of the Company, after giving effect to the Tri-State Acquisition, as if the Company had completed the Tri-State Acquisition and related financing (as described in Note 5) on July 1, 2016, but using the preliminary estimates of the fair values of the assets acquired and liabilities assumed as of the Closing Date. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the Tri-State Acquisition had occurred on the date assumed, nor are they indicative of future results of operations.

    For the six months ended
December 31,
(in thousands)   2017
Revenues   $ 71,583     $ 55,433  
Net income     2,636       2,130