Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

Discontinued Operations

Note 2 — Discontinued Operations

During the fourth quarter of fiscal year 2011, the Company entered into a definitive agreement to sell substantially all of the assets of its Logistics Management business, PAR Logistics Management Systems Corporation (LMS) to ORBCOMM Inc., including but not limited to assets such as accounts receivable, inventory, equipment, intellectual property and LMS’s customer contracts.  This transaction closed on January 12, 2012.

Summarized financial information for the Company’s discontinued operations is as follows:

	December 31,
	2011		2010
Assets
Cash	$	5	$	2
Accounts receivable - net		1,398		1,197
Inventories		1,355		2,025
Other assets		424		129
Total assets of discontinued operations	$	3,182	$	3,353
Liabilities
Accounts payable and accrued expenses	$	674	$	343
Accrued salaries and benefits		236		187
Other liabilities		15		13
Total liabilities of discontinued operations	$	925	$	543

Operations	2011			2010			2009
Total revenues	$	6,433		$	4,917		$	7,149
Loss from discontinued operations before income taxes	$	(3,525	)	$	(2,985	)	$	(217	)
Benefit for income taxes		1,353			1,141			74
Loss from discontinued operations, net of taxes	$	(2,172	)	$	(1,844	)	$	(143	) —

The Company anticipates recognition of a gain on the disposition of LMS in the range of $2.5 million to $2.9 million, pending final resolution of conditions noted within the divestiture agreement.