Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Acquisitions (Tables)

v2.4.0.8
Acquisitions (Tables) (Solid Concepts Inc. [Member])
9 Months Ended
Sep. 30, 2014
Solid Concepts Inc. [Member]
 
Acquisitions [Line Items]  
Summary of the fair value of the consideration transferred to Solid Concepts stockholders for the Solid Concepts transaction
The following table summarizes the fair value of the consideration transferred to Solid Concepts stockholders for the Solid Concepts transaction (in thousands):

 

Issuance of ordinary shares     $ 97,869
Cash payments       40,780    
Restricted payment       3,839    
Deferred payments       44,525
Total fair value of consideration transferred     $ 187,013    
Schedule of allocation of the purchase price to assets acquired and liabilities assumed
The allocation of the purchase price to assets acquired and liabilities assumed is as follows (in thousands):

 

        Allocation of
Purchase Price
   
Cash and cash equivalents     $ 3,225  
Accounts receivable, net       8,793    
Inventories       2,391    
Other assets       1,506    
Property, plant and equipment       14,975    
Other intangible assets       37,606    
Goodwill       126,372  
Total assets acquired       194,868    
Accounts payable       3,055    
Accrued expenses and other current liabilities       4,281  
Total liabilities assumed       7,336  
Non controlling interest       519    
Net assets acquired     $ 187,013  
Schedule of allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of the intangible assets
The allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of the following intangible assets (in thousands):

 

      Amount     Weighted Average
Life - Years
 
Customer relationships - additive manufacturing       21,578         6.5    
Customer relationships - traditional       14,899         6.5  
Total     $ 36,477              
Schedule of supplemental pro forma combined results of operations
    Three months ended   Nine months ended          
    September 30,   September 30,          
    2014   2013   2014   2013          
Net sales   $ 205,356     $ 142,010     $ 568,274     $ 375,985    
Net loss attributable to Stratasys Ltd.     (18,203 )     (12,347 )     (15,590 )     (56,459 )  
Net loss per ordinary share attributable to Stratasys Ltd.- basic and diluted   $ (0.36 )   $ (0.29 )   $ (0.31 )   $ (1.39 )  
                                   

 

      Three months ended
September 30, 2013
    Nine months ended
September 30, 2013
 
Net sales     $ 131,170       $ 363,161    
Net loss attributable to Stratasys Ltd.       (6,108 )       (27,165 )
Net loss per ordinary share attributable to Stratasys Ltd.- basic and diluted     $ (0.14 )     $ (0.63 )  
Schedule of adjustments for the supplemental pro forma combined results of operations

 

    Three months ended
September 30,
  Nine months ended
September 30,
        2014       2013       2014     2013
                                   
Supplemental pro forma combined results of operations:                                  
Adjustments due to amortization of intangibles     $ 69     $ 1,612     $ 2,893     $ 4,835  
Adjsutments due to retention bonuses       (3,993 )     9,986       5,086       29,959  
Adjustments due to expenses related to business combination                                  
(deal fees and other integration expenses)       (21,362 )     (220 )     (26,327 )     19,369  
Adjustments due to financial expenses related to Solid Concept's debts       (182)       (79 )     (406 )     (254 )
Taxes related adjustments to the supplemental pro forma       8,883       (4,320 )     5,519       (20,382 )
      $ (16,585)     $ 6,979     $ (13,235 )   $ 33,527  

 

      Three months ended
September 30, 2013
    Nine months ended
September 30, 2013
 
                       
Increase in amortization of intangibles     $ (3,779 )     $ (13,841 )
Adjust performance bonus expenses       1,597         (5,001 )  
Adjust expenses related to business combination                    
(deal fees, inventory, interest and deferred revenues step-up)       3,069         8,508    
Adjust taxes related to the adjustments to the supplemental pro forma       1,118         6,672  
      $ 2,005       $ (3,662 )