Discontinued Operations

9 Months Ended

May 31, 2012

Discontinued Operations

Note 3. Discontinued Operations

In the second quarter of fiscal 2011, the Company completed the sale of the European Electrical business for total cash proceeds of $3.5 million, net of transaction costs. As a result of the sale transaction, the Company recognized a pre-tax loss on disposal of $15.8 million. The following table summarizes the results of the European Electrical business, which has been reported as discontinued operations (in thousands):

	Three Months Ended May 31, 2011			Nine Months Ended May 31, 2011
Net sales	$	—		$	49,305
Loss on disposal of business		(2,086	)		(15,829	)
Loss from operations of divested business		—			(1,157	)
Income tax benefit		84			—
Loss from discontinued operations, net of income taxes	$	(2,002	)	$	(16,986	)