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Our assessment excluded DisplayLink which was acquired on July 31, 2020.
−Removed: DisplayLink had net revenues of approximately $16.9 million and total tangible assets of approximately $136.6 million, which are included in our condensed consolidated financial statements as of and for the three months ended September 26, 2020.
+Added: DisplayLink had net revenues of approximately $45.0 million and total tangible assets of approximately $59.0 million, which are included in our condensed consolidated financial statements as of and for the six months ended December 26, 2020.
We are currently assessing the control environment of this acquired business.
−Removed: DisplayLink sales constitute approximately 5.1% of our sales for the three-month period covered by this Report, their tangible assets constitute approximately 16.7% of our tangible assets as of the end of such period and their total liabilities constitute approximately 6.5% of our total liabilities.
+Added: DisplayLink sales constitute approximately 6.6% of our sales for the six-month period covered by this Report, their tangible assets constitute approximately 6.8% of our tangible assets as of the end of such period and their total liabilities constitute approximately 6.3% of our total liabilities.
Under guidelines established by the SEC, companies are permitted to exclude acquisitions from their assessment of internal control over financial reporting during the first year of an acquisition while integrating the acquired company.
During the integration period, management is developing additional controls to ensure the financial information provided by DisplayLink is complete and accurate in all material respects.
−Removed: Except as noted above, there were no changes in our internal control over financial reporting (as defined in Rules 13a- 15(f) and 15d-15(f) under the Exchange Act) during the period ended September 26, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Except as noted above, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the period ended December 26, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
PART II—OTHER INFORMATION
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.