Discontinued Operations

9 Months Ended

Mar. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

DISCONTINUTED OPERATIONS

In January 2012, the Company sold its clock synchronization business for a total sale price of approximately $44.0 million. No further proceeds from the sale are expected. The Clocks business formed part of the Company's Comm Timing operating segment.

In February 2012, the Company also sold certain future technologies, including die types that will result in future products, in the storage area. The total sale price for this transaction was approximately $15.0 million. No further proceeds from the sale are expected. The technologies and die types sold formed part of the Company's Storage operating segment.

As a result of these two transactions, the Company recognized a gain on sale of discontinued operations of $31.8 million, net of income taxes. This gain reflects cash received, less transaction costs and the net carrying value of assets and liabilities transferred. The Company has not disclosed and included in discontinued operations the impact of historical revenue, pre- or post- tax profit or loss related to discontinued operations for any of the prior periods presented as the impact was immaterial to the Company's condensed consolidated financial statements.

Selected financial information related to discontinued operations follows:

	March 31, 2012
	(in thousands)
Gain on sale of discontinued operations	$	45,372
Income tax expense	(13,563		)
Gain on discontinued operations, net of tax	$	31,809