Discontinued operations

12 Months Ended

Oct. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued operations

Note 2 - Discontinued operations

During 2013, the Company sold its RF Neulink and RadioMobile divisions, which together had comprised the Company’s RF Wireless segment. The divisions were sold pursuant to asset purchase agreements, whereby no purchase price was paid at the closing. Rather, the agreements stipulated royalty payments from each of the purchasers over a three year period. For the year ended October 31, 2014, the Company recognized approximately $25,000 and $136,000 of royalty income related to the RF Neulink Agreement and RadioMobile, respectively, which amounts have been included within discontinued operations.

The following summarized financial information related to the RF Neulink and RadioMobile divisions is segregated from continuing operations and reported as discontinued operations for the years ended October 31, 2014 and 2013 (in thousands):

	2014		2013
Royalties	$	161	$	-
Net sales		-		1,230
Total revenue	$	161	$	1,230
Cost of sales		-		1,609
Gross profit (loss)		161		(379)
Operating expenses		-		1,400
Operating income (loss)		161		(1,779)
Provision (benefit) for income taxes		58		(639)
Income (loss) from discontinued operations, net of tax	$	103	$	(1,140)