Quarterly report pursuant to Section 13 or 15(d)

3. ACQUISITION OF AVENTINE (Tables)

v3.3.0.814
3. ACQUISITION OF AVENTINE (Tables)
 9 Months Ended
Sep. 30, 2015
Business Combinations [Abstract]  
Acquisition purchase price consideration
Cash and cash equivalents   $ 18,756  
Accounts receivable     10,430  
Inventory     29,483  
Other current assets     10,480  
Total current assets     69,149  
Property and equipment     312,781  
Net deferred tax assets     10,021  
Other assets     750  
Total assets acquired   $ 392,701  
         
Accounts payable and accrued liabilities   $ 27,233  
Long-term debt - revolvers     13,721  
Long-term debt - term debt     142,744  
Pension plan liabilities     8,518  
Other non-current liabilities     25,913  
Total liabilities assumed   $ 218,129  
         
Net assets acquired   $ 174,572  
Estimated goodwill   $ –  
Total purchase price   $ 174,572  
Unaudited pro forma information on acquisition
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2015     2014     2015     2014  
Net sales – pro forma   $ 380,622     $ 429,373     $ 1,107,919     $ 1,267,853  
Cost of goods sold – pro forma   $ 379,302     $ 400,260     $ 1,102,278     $ 1,137,410  
Selling, general and administrative expenses – pro forma   $ 7,346     $ 8,892     $ 29,144     $ 24,568  
Net income (loss) – pro forma   $ (6,182 )   $ (117 )   $ (34,226 )   $ 4,400  
Diluted net income (loss) per share – pro forma   $ (0.15 )   $ (0.00 )   $ (0.71 )   $ 0.11  
Diluted weighted-average shares – pro forma     41,861       42,062       47,945       39,828