MOLX » Topics » Acquisition

This excerpt taken from the MOLX 10-Q filed Oct 31, 2006.

Acquisition

On August 9, 2006, we completed the acquisition of Woodhead Industries, Inc. (Woodhead) in an all cash transaction valued at approximately $236.6 million, including the assumption of debt and net of cash acquired.  Woodhead develops, manufactures and markets network and electrical infrastructure components engineered for performance in harsh, demanding, and hazardous industrial environments, and the acquisition is a significant step in our strategy to expand our products and capabilities in the global industrial market.


 The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition.


Current assets

$

100,738

Land and depreciable assets, net

 

53,809

Goodwill

 

147,071

Intangible assets

 

56,500

Other assets

 

1,078

Assets acquired

 

359,196

Liabilities assumed

 

122,570

Net assets acquired

$

236,626


The above purchase price allocation for this acquisition is preliminary and subject to revision as more detailed analyses are completed and additional information about the fair value of assets and liabilities becomes available. We also plan to incur costs in connection with realigning portions of the business but it is impracticable to estimate a liability for such costs at this time. Any change in the fair value of the net assets of Woodhead and any realignment costs will change the amount of the purchase price allocable to goodwill.


The following table illustrates the effect on operating results as if we had acquired Woodhead as of the beginning of the three months ended September 30, 2005.  The pro forma effect on the three months ended September 30, 2006 was not material.  


Net revenue

$

712,824

Income from operations

 

63,459

Net income

 

49,473

Net income per common share – Basic

$

0.26

Net income per common share – Diluted

 

0.26


The above unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what our results of operations would have been had we acquired Woodhead on the dates assumed, nor is it necessarily indicative of the results that may be expected in future periods.  Pro forma adjustments exclude cost savings from synergies, if any, resulting from the combination of Molex and Woodhead.


-7-



This excerpt taken from the MOLX 10-K filed Sep 12, 2005.

6. Acquisition

On April 2, 2004, the Company acquired 100% of the assets and assumed certain liabilities of Connecteurs Cinch S.A. (Cinch) and its subsidiaries in Portugal, India and China. Cinch specializes in automotive connection technology and with its strong European presence will strengthen Molex’s role as a supplier of innovative interconnection solutions to the major global automotive manufacturers.

This acquisition was accounted for using the purchase method of accounting and the results of operations from the date of acquisition are included in the consolidated financial statements. Cinch financial results are not material to the results of operations of the Company and proforma financial data is not presented. The purchase price of $37,920, net of acquired cash, was allocated to the assets acquired based on their estimated fair values as follows:

Current assets
$
26,578
Property, plant and equipment
21,448
Goodwill
4,167
Intangible assets
1,013
Liabilities assumed
(15,286
)
Total purchase price
$
37,920

EXCERPTS ON THIS PAGE:

10-Q
Oct 31, 2006
10-K
Sep 12, 2005
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki