BUSINESS COMBINATIONS (Tables)
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12 Months Ended |
Dec. 30, 2016 |
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| Schedule of consideration for the acquisitions |
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360 Energy
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Abacus
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Economists, LLC
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Total
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Cash paid
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$
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4,875,000
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$
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3,136,000
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$
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490,000
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$
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8,501,000
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Issuance of common stock
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571,000
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913,000
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—
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1,484,000
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Issuance of notes payable
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3,000,000
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1,250,000
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—
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4,250,000
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Contingent consideration
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4,221,000
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589,000
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368,000
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5,178,000
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Total consideration
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$
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12,667,000
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$
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5,888,000
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$
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858,000
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$
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19,413,000
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| Schedule of preliminary amounts for the acquired assets recorded at their estimated fair value as of the acquisition date |
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360 Energy
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Abacus
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Economists, LLC
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Total
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Cash acquired
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$
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—
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$
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332,000
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$
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—
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$
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332,000
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Property, plant and equipment
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166,000
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78,000
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—
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244,000
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Liabilities
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—
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(512,000)
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—
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(512,000)
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License to bid
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—
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308,000
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—
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308,000
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Backlog
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158,000
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161,000
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29,000
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348,000
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Tradename
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669,000
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323,000
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57,000
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1,049,000
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Non-compete agreements
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860,000
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128,000
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23,000
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1,011,000
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Other assets, net
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41,000
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495,000
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—
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536,000
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Goodwill
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10,773,000
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4,575,000
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749,000
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16,097,000
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Net assets acquired
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$
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12,667,000
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$
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5,888,000
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$
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858,000
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$
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19,413,000
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| Genesys |
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| Schedule of consideration for the acquisitions |
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Genesys
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Cash paid, net of cash acquired
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$
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8,857,000
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Other receivable for working capital adjustment
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(604,000)
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Issuance of common stock
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2,228,000
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Deferred purchase price, payable in 24 monthly installments
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4,569,000
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Total consideration
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$
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15,050,000
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| Schedule of preliminary amounts for the acquired assets recorded at their estimated fair value as of the acquisition date |
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Genesys
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Current assets
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$
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14,952,000
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Non-current assets
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36,000
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Cash
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101,000
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Property, plant and equipment
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117,000
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Liabilities
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(12,643,000)
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Customer relationships
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3,260,000
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Backlog
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1,050,000
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Tradename
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1,690,000
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Non-compete agreements
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320,000
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Goodwill
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6,167,000
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Net assets acquired
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$
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15,050,000
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| Schedule of unaudited pro forma financial information |
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wear
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Year Ended
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December 30,
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January 1,
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In thousands (except per share data)
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2016
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2016
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Pro forma revenue
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$
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222,914
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$
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167,479
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Pro forma income from operations
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12,504
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7,755
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Pro forma net income
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$
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8,907
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$
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4,498
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| Abacus and 360 Energy |
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| Schedule of unaudited pro forma financial information |
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Year Ended
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January 1,
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January 2,
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In thousands (except per share data)
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2016
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2015
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Pro forma revenue
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$
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135,576
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$
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130,181
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Pro forma income from operations
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8,204
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12,162
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Pro forma net income
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$
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4,759
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$
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12,162
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Earnings per share:
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Basic
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$
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0.61
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$
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1.62
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Diluted
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$
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0.59
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$
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1.57
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Weighted average shares outstanding:
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Basic
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7,834
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7,488
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Diluted
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8,113
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7,739
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