Classmates.com 2008 Annual Report Download - page 120

Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
2. ACQUISITIONS (Continued)
assumptions. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed (in thousands):
The weighted-average amortizable life of the definite-
lived acquired intangible assets is 5.6 years. The goodwill is not deductible for federal
tax purposes. The purchase price allocation for the acquisition is preliminary, and the Company will continue to monitor certain contingent
liabilities. The Company's fair value estimates for the purchase price allocation may change during the allowable allocation period if additional
information becomes available. The Company does not currently expect any further material changes to the purchase price allocation.
The results of FTD's operations have been included in the Company's consolidated financial statements since the Closing Date. The
following unaudited pro forma information assumes the FTD acquisition occurred at January 1, 2008 and 2007 (in thousands, except per share
amounts):
F-25
Description
Estimated
Fair
Value
Estimated
Amortizable
Life
Net liabilities assumed:
Cash and cash equivalents
$
12,358
Accounts receivable
34,441
Other current assets
11,405
Property and equipment
25,284
Other assets
17,131
Accounts payable
(37,377
)
Accrued liabilities
(28,610
)
Deferred revenue
(3,385
)
Debt
(302,280
)
Deferred tax liabilities, net
(131,575
)
Other liabilities
(4,496
)
Total net liabilities assumed
(407,104
)
Intangible assets acquired:
Trademarks and trade names
229,800
Indefinite
Customer contracts
107,100
2
-
6 years
Technology
42,200
5 years
Total intangible assets acquired
379,100
Goodwill
472,799
Total purchase price
$
444,795
Year Ended December 31,
2008
2007
Revenues
$
1,109,441
$
1,145,438
Net income (loss)
$
(103,717
)
$
68,396
Basic net income (loss) per share
$
(1.28
)
0.86
Diluted net income (loss) per share
$
(1.28
)
0.84