Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions (Tables)

v3.19.1
Business Acquisitions (Tables)
6 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of pro forma revenues and net income
The following presents unaudited pro forma revenues and net income for the three and six months ended March 31, 2018 as though the Scruggs Acquisition had occurred on October 1, 2016 (in thousands):
 
 
For the Three Months Ended March 31, 2018
 
For the Six Months Ended March 31, 2018
 
 
 
Pro forma revenues
 
$
139,212

 
$
312,572

Pro forma net income
 
$
14,377

 
$
25,035

 
 
 
 
 
Unaudited pro forma financial information is presented as if the operations of Scruggs had been included in the consolidated results of the Company since October 1, 2016, and gives effect to transactions that are directly attributable to the Scruggs Acquisition, including adjustments to:
(a)
Include the pro forma results of operations of Scruggs for the three and six months ended March 31, 2018.
(b)
Include additional depreciation and depletion expense related to the fair value of acquired property, plant and equipment and quarry reserves, as applicable, as if such assets were acquired on October 1, 2016 and the Company's depreciation and depletion methodologies were consistently applied to such assets.
(c)
Include interest expense under the Compass Term Loan, defined in Note 9 - Debt, as if the $22.0 million borrowed to partially finance the purchase price was borrowed on October 1, 2016. Interest expense calculations further assume that no principal payments were made applicable to the $22.0 million borrowed during the period from October 1, 2016 through March 31, 2018, and that the interest rate in effect on the date the Company made the additional $22.0 million borrowing on May 15, 2018 was in effect for the period from October 1, 2016 through March 31, 2018.