| Components of Loss from Discontinued Operations |
The operating
results of these discontinued operations only reflect revenues and
expenses that are directly attributable to these businesses and
that will be eliminated from ongoing operations. The key components
from discontinued operations related to the European and domestic
imagewear businesses were as follows:
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Quarter
Ended |
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Nine Months
Ended |
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September 29,
2012 |
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October 1,
2011 |
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September 29,
2012 |
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October 1,
2011 |
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Net sales
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$ |
14,915 |
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|
$ |
44,881 |
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|
$ |
88,769 |
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$ |
158,488 |
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Cost of sales
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|
16,512 |
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|
33,491 |
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|
116,174 |
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|
116,315 |
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Gross profit
(loss)
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(1,597 |
) |
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|
11,390 |
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|
(27,405 |
) |
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|
42,173 |
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Selling, general and
administrative expenses
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|
293 |
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|
3,651 |
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|
7,005 |
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|
12,037 |
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Impairment of
intangibles
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|
(172 |
) |
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— |
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|
37,425 |
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— |
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Operating profit
(loss)
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(1,718 |
) |
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|
7,739 |
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(71,835 |
) |
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30,136 |
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Interest expense,
net
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— |
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|
7 |
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|
4 |
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|
62 |
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Loss on disposal of
business
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|
195 |
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|
— |
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|
31,811 |
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— |
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Income (loss) from
discontinued operations before income tax expense
(benefit)
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(1,913 |
) |
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|
7,732 |
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(103,650 |
) |
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|
30,074 |
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Income tax expense
(benefit)
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|
(622 |
) |
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|
1,970 |
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(33,715 |
) |
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8,148 |
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Net income (loss) from
discontinued operations, net of tax
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$ |
(1,291 |
) |
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$ |
5,762 |
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$ |
(69,935 |
) |
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$ |
21,926 |
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