ASSETS AND LIABILITIES OF BUSINESS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Sep. 30, 2013

Assets and Liabilities of Business Held for Sale

The following is a summary of balance sheet information of “held for sale” assets and liabilities at September 30, 2013 and 2012 (dollars in thousands).

		September 30,		June 30,		September 30,
	2013		2013		2012
ASSETS:
Current Assets:
Cash and Cash Equivalents	$	(84)	$	568	$	(6)
Accounts Receivable, Net		12,192		12,050		23,682
Deferred Income Taxes, Net		3,053		2,757		201
Prepaid Expenses and Other		736		844		4,551
Fair Market Value Reserve		(10,844)		-		-
Total Current Assets of Business Held for Sale		5,053		16,219		28,428
Land, Building and Equipment of Business Held for Sale, Net		-		-		5,879
Other Assets:
Deferred Income Taxes, Net		1,509		2,602		-
Other Assets		3,715		3,185		-
Fair Market Value Reserve		(3,715)		-		-
Total Other Assets of Business Held for Sale		1,509		5,787		-
Total Assets of Business Held for Sale	$	6,562	$	22,006	$	34,307
LIABILITIES:
Current Liabilities:
Accounts Payable	$	279	$	178	$	562
Accrued Salaries, Wages and Benefits		415		482		411
Accrued Expenses		4		47		34
Deferred and Advance Tuition		1,483		6		3,538
Fair Market Value Reserve		(2,181)		-		-
Total Current Liabilities of Business Held for Sale		-		713		4,545
Other Liabilities:
Deferred Rent and Other		41		112		144
Fair Market Value Reserve		(41)		-		-
Total Other Liabilities of Business Held for Sale		-		112		144
Liabilities of Business Held for Sale	$	-	$	825	$	4,689

Operating Results of the Discontinued Operations

The following is a summary of operating results of the discontinued operations for the periods ended September 30, 2013 and 2012 (dollars in thousands).

	For the Three Months  Ended September 30,
		2013		2012
DISCONTINUED OPERATIONS:
Loss from Operations of Held for Sale Component	$	(2,847)	$	(3,658)
Asset Impairment Charge (Note 5)		(13,477)		-
Income Tax Benefit		996		1,484
Loss from Discontinued Operations, Net of Income Taxes	$	(15,328)	$	(2,174)