DISCONTINUED OPERATIONS:

12 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS:

DISCONTINUED OPERATIONS:

4.DISCONTINUED OPERATIONS:

On May 30, 2014, the Company substantially completed the sale of its U.K. call center operation, 2Touch, to Parseq Ltd., a European business process outsourcing service provider.  Some assets of the 2Touch operation were subject to a second closing, which occurred in March 2015, resulting in the complete disposal of the operation.  The 2Touch business qualified for treatment as discontinued operations during fiscal 2015.  The results of operations, cash flows, and the balance sheet amounts pertaining to 2Touch have been classified as discontinued operations in the consolidated financial statements.

Prior to receiving the discontinued operations classification, the 2Touch business unit was included in the Other Services segment in the Company’s segment results.  However, beginning in the first quarter of fiscal 2015, the 2Touch business unit was excluded from segment results and segregated as discontinued operations.

Summary results of operations of the 2Touch business unit for the fiscal years ended March 31, 2015, 2014 and 2013 are segregated and included in earnings (loss) from discontinued operations, net of tax, in the consolidated statements of operations and are as follows (dollars in thousands):

	2015			2014			2013
Revenues	$	8,484		$	35,267		$	31,201
Earnings (loss) from discontinued operations before income taxes	$	4		$	(2,189	)	$	1,703
Loss on sale of discontinued operations before income taxes	(1,888		)	—			—
Income taxes	—			—			(409		)
Earnings (loss) from discontinued operations, net of tax	$	(1,884	)	$	(2,189	)	$	1,294

The carrying amounts of the major classes of assets and liabilities of the 2Touch business unit are segregated and included in assets from discontinued operations and liabilities from discontinued operations in the consolidated balance sheets and are as follows (dollars in thousands):

	March 31, 2015		March 31,  2014
Trade accounts receivable, net	$	112	$	6,451
Other current assets	—		881
Assets from discontinued operations	$	112	$	7,332
Trade accounts payable and accrued expenses	$	—	$	4
Accrued payroll and related expenses	—		1,790
Other accrued expenses	1,008		2,350
Deferred revenue	—		106
Liabilities from discontinued operations	$	1,008	$	4,250