Disposal Groups, Including Discontinued Operations |
The financial results of Arlo through the Distribution date are presented as income (loss) from discontinued operations, net of tax, in the unaudited condensed consolidated statement of operations. The following table presents financial results of Arlo for the three and six months ended July 1, 2018: | | | | | | | | | | Three Months Ended | | Six Months Ended | | July 1, 2018 | | July 1, 2018 | | (In thousands) | Net revenue | $ | 111,544 |
| | $ | 211,316 |
| Cost of revenue | 82,653 |
| | 154,239 |
| Gross profit | 28,891 |
| | 57,077 |
| Operating expenses: | | |
|
| Research and development | 9,996 |
| | 17,753 |
| Sales and marketing | 7,772 |
| | 13,556 |
| General and administrative | 2,078 |
| | 2,954 |
| Separation expense | 11,984 |
| | 18,768 |
| Total operating expenses | 31,830 |
| | 53,031 |
| Income (loss) from operations of discontinued operations | (2,939 | ) | | 4,046 |
| Other income (expense), net | 273 |
| | 339 |
| Income (loss) from discontinued operations before income taxes | (2,666 | ) | | 4,385 |
| Provision for income taxes | 3,097 |
| | 5,576 |
| Loss from discontinued operations, net of tax | $ | (5,763 | ) | | $ | (1,191 | ) |
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