18  (dollars in thousands, except per share data) - continued -  Notes to Consolidated Financial Statements The Company acquired the stock of Fabrica for $9,246 cash. The agreement provides for the payment of contingent consideration of $50,000 in 2003 if Fabrica’s cumulative gross sales for the period of April 1, 2000 through June 30, 2003 exceed certain levels. The Company believes this sales level should be reached, in which case the contingent consideration will become payable in April 2003. The agreement also provides for an additional contingent amount of up to $2,500 to be paid in April 2005 if Fabrica’s cumulative earnings before interest and taxes for the five-year period beginning January 1, 2000 exceed specified levels. The Company’s investment in Fabrica secures the seller’s right to any contingent consideration that becomes due. Any contingent amounts that may become payable under the agreement will be treated as an additional cost of the acquisition. In early 1999, the Company acquired the assets and assumed certain liabilities of Multitex Corporation of America, Inc. ("Globaltex"), a Dalton, Georgia carpet and carpet yarn producer, for approximately $30,964 cash, plus future payments keyed to revenue growth through fiscal 2003. Such payments have been $1,491, $1,561, and $252 for fiscal years ended 2001, 2000, and 1999, respectively and are accounted for as additional cost of the acquisition. The acquisitions of Fabrica and Globaltex were accounted for under the purchase method of accounting for business combinations and accordingly, the results of operations of Globaltex subse- quent to January 8, 1999, and Fabrica subsequent to June 30, 2000, are included in the Company’s consolidated financial statements. The purchase price of each acquisition was allocated to the net assets acquired based on their estimated fair market values.  A summary of net assets acquired (without adjustment for subsequent contingent payments) is as follows: The following unaudited pro forma summary presents the consolidated results of operations as if the acquisition of Fabrica had occurred at the beginning of the periods presented after giving effect to certain adjustments, including interest expense on debt to finance the acquisition, depreciation expense on adjusted fixed asset values and related income taxes. The pro forma results are presented for comparative purposes only and do not purport to be indicative of future results or the results that would have occurred had the acquisition taken place at the beginning of the periods presented. FABRICA GLOBALTEX Current assets $ 11,947  $ 18,462  Property, plant, and equipment 6,406  21,459  Other non-current assets 291  430  Current liabilities (7,957) (9,387) Deferred taxes (708) –  Long-term debt (733) –  Net assets acquired $ 9,246  $ 30,964  2000 1999 Net sales $ 593,890 $ 642,040 Net income (loss) (7,525) 20,608 Net income (loss) per share: Basic (0.66) 1.81 Diluted (0.66) 1.76 In the first quarter of 1999, the Company acquired Graphic Technologies, Inc., a carpet producer, for approximately $1,750 cash. This acquisition was accounted for as a purchase, and accordingly, THE DIXIE GROUP  / 2001 ANNUAL REPORT