| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the final estimated fair values of the assets acquired and liabilities assumed in connection with the TCS acquisition: | | | | | | | Purchase Price Allocation | | Shares of TCS common stock purchased | $ | 318,605,000 |
| | Stock-based awards settled | 21,827,000 |
| | Aggregate purchase price at fair value | $ | 340,432,000 |
| | Allocation of aggregate purchase price: | | | Cash and cash equivalents | $ | 59,897,000 |
| | Current assets | 115,913,000 |
| | Deferred tax assets, net, non-current | 85,490,000 |
| | Property, plant and equipment | 25,689,000 |
| | Other assets, non-current | 2,641,000 |
| | Current liabilities (excluding interest accrued on debt) | (123,956,000 | ) | | Debt (including interest accrued) | (134,101,000 | ) | | Capital lease obligations | (8,993,000 | ) | | Other liabilities | (9,156,000 | ) | | Net tangible assets at fair value | $ | 13,424,000 |
| | Identifiable intangible assets, deferred taxes and goodwill: | | Estimated Useful Lives | Customer relationships and backlog | $ | 223,100,000 |
| 21 years | Trade names | 20,000,000 |
| 10 to 20 years | Technology | 35,000,000 |
| 5 to 15 years | Deferred tax liabilities | (104,371,000 | ) | | Goodwill | 153,279,000 |
| Indefinite | Allocation of aggregate purchase price | $ | 340,432,000 |
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| Business Acquisition, Pro Forma Information |
The unaudited pro forma financial information in the table below, for the nine months ended April 30, 2016, combines the historical results of Comtech for the nine months ended April 30, 2016 and, due to the differences in the companies’ reporting periods, the historical results of TCS for the nine months ended March 31, 2016, as if the acquisition had occurred on August 1, 2014. | | | | | | | | | | Three months ended April 30, 2016 | | Nine months ended April 30, 2016 | | | Net sales | $ | 130,238,000 |
| | $ | 453,475,000 |
| Net loss | (21,395,000 | ) | | (27,694,000 | ) | Basic net loss per share | (1.32 | ) | | (1.71 | ) | Diluted net loss per share | (1.32 | ) | | (1.71 | ) |
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