6. Divestiture

On June 29, 2011, the Company sold its Affinity business for $14.0 million in cash, subject to a post-closing purchase price adjustment based upon the net working capital of Affinity as of the closing date. Affinity designed and manufactured high precision, specialty engineered temperature-control equipment for semiconductor, pharmaceutical, life sciences and industrial applications. Based on the calculated closing date working capital, the Company has recorded a receivable of $1.2 million at June 30, 2011 for the projected purchase price adjustment. The Company recorded a gain on sale, including the estimated working capital adjustment and net of transaction costs and income taxes, of $3.9 million in the quarter ended June 30, 2011. The condensed consolidated financial statements have been retroactively restated to reflect Affinity as a discontinued operation for all periods presented.

The following table is a summary of the results of the discontinued operation for the periods ended June 30, 2011 and 2010:

	Quarter Ended				Six Months Ended
	June 30,				June 30,
In thousands	2011		2010		2011		2010
Net Sales	$	6,818	$	5,808	$	13,255	$	9,946

Income before income taxes		989		606		1,374		590
Income tax expense		362		204		499		200
Income from discontinued operations		627		402		875		390
Gain on sale of discontinued operations, net of tax of $2,229		3,857		—		3,857		—
Income from discontinued operations, net of tax	$	4,484	$	402	$	4,732	$	390

The above table includes the income and gain on sale of Affinity, net of tax, through the closing date of the sale on June 29, 2011.