FairPoint Communications 2005 Annual Report Download - page 77
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The allocation of the total net purchase price of the Berkshire and Bentleyville acquisitions is shown in the table below (in thousands):
Current assets $8,067
Property, plant, and equipment 14,585
Investments 2,770
Excess cost over fair value of net assets acquired 12,835
Other assets 25
Intangible assets 3,800
Current liabilities (2,317)
Long term debt (2,690)
Other liabilities (4,703)
Total net purchase price $32,372
The following unaudited pro forma information presents the combined results of operations of the Company as though the Berkshire acquisition and the
Bentleyville acquisition each had been consummated on January 1, 2004. These results include certain adjustments, mainly associated with increased interest
expense on debt and amortization of intangible assets related to the acquisitions and the related income tax effects. The pro forma financial information does not
necessarily reflect the results of operations as if the Berkshire acquisition and the Bentleyville acquisition each had been consummated at the beginning of the
period or which may be attained in the future (in thousands, except per share data).
Revenues $267,303 $262,562
Income (loss) from continuing operations 27,962 (25,401)
Net income (loss) 28,342 (24,730)
Earnings (loss) per common share from continuing operations:
Basic $0.88 $ (2.68)
Diluted 0.87 (2.68)
Earnings (loss) per common share:
Basic $ 0.89 $ (2.61)
Diluted 0.89 (2.61)
Changes in the carrying amount of goodwill were as follows (in thousands):
Balance, December 31, 2003 $468,845
Acquisition adjustments of CST and Commtel (337)
Balance, December 31, 2004 468,508
Acquisition of Berkshire and Bentleyville 12,835
Balance, December 31, 2005 $481,343
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