Allied Motion Updates Summary Pro Forma Information From The Globe Motors, Inc. Acquisition
Allied Motion Technologies Inc. (NASDAQ: AMOT) On October 18,
2013, Allied Motion completed the acquisition of Globe Motors and filed
a Form 8-K announcing the acquisition within four business days of the
Allied Motion Technologies Inc. (NASDAQ: AMOT) On October 18, 2013, Allied Motion completed the acquisition of Globe Motors and filed a Form 8-K announcing the acquisition within four business days of the completion of the acquisition, as required by the SEC. On November 12, 2013 Allied Motion issued a Press Release to disclose unaudited pro forma financial information with respect to Allied Motion’s acquisition of Globe Motors, Inc. from Safran USA, Inc. The pro forma financial information was released at that time to provide the readers with an overview of the past performance of the combined entity for the year ended December 31, 2012 and the nine months ended September 30, 2013. Also within the Press Release, the readers were reminded that the unaudited pro forma financial information reported at that time was preliminary and subject to change pending the completion of the audits by Allied Motion’s outside audit firm of the Globe Motors results for both periods, as required by SEC regulations. On January 3, 2014, Allied Motion filed an amendment to the Form 8-K to include audited financial statements for Globe Motors for the year ended December 31, 2012 and the nine month period ended September 30, 2013, as well as certain unaudited pro forma Allied Motion and Globe Motors combined consolidated financial statements. The pro forma financials were based on Globe Motors’ audited report for each period presented while Allied Motion’s results for the year ended December 31, 2012 were audited and its interim results for the nine months ended September 30, 2013 were unaudited as filed with Allied’s most recent quarterly report on Form 10-Q. As a result of the audit of Globe Motors, Allied Motion is updating the previously disclosed summary pro forma information to (i) revise the revenue of Globe Motors (ii) revise certain expenses, including interest expense, depreciation expense and provision for income tax for Globe Motors (iii) correct the pro forma adjustment for certain litigation-related expenses of Globe Motors and (iv) revise corporate allocations.
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