Disposal of Video Camera Segment

3 Months Ended

Mar. 28, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposal of Video Camera Segment

2. Disposal of Video Camera Segment

In June 2014, we sold substantially all the assets of our video camera segment, Cohu Electronics for $9.5 million in cash and $0.5 million in contingent consideration. Our decision to sell Cohu Electronics resulted from management’s determination that this industry segment was no longer a strategic fit within our organization.

Operating results of our discontinued video camera segment is summarized as follows (in thousands):

	Three Months Ended
	March 28,		March 29,
	2015		2014
Net sales	$	—	$	3,553
Operating income before income taxes	$	—	$	121
Loss on disposal of video camera segment		—		(116	)
Income tax provision		—		—
Loss from discontinued operations, net of taxes	$	—	$	5

In connection with the sale of the assets of our video camera segment we incurred divestiture-related costs that would not have been incurred otherwise. These costs consist of legal advisory services, success based compensation arrangements and certain other items that are incremental to normal operating charges and were expensed as incurred. In the first three months of 2014 we incurred $0.1 million of divestiture related costs included above in the loss on disposal.