Discontinued Operations

9 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Sale of Assets and Operations of TSG – Fiscal 2012

In 2011, we sold our TSG business for an aggregate purchase price of $62.8 million in cash to OnX Enterprise Solutions Limited and its subsidiary OnX Acquisition LLC (together, “OnX”), a leading IT solutions provider based in Toronto, Canada. In addition to the purchase agreement, we entered into a transition services agreement (“TSA”) with OnX, under which we provided certain transitional administrative and supportive services to OnX through January 31, 2012. In July 2011, our shareholders approved the sale and the transaction closed on August 1, 2011, the date on which certain other contingencies specified in the sale agreement were satisfied. The sale of TSG represented a disposal of a component of an entity. As such, the operating results of TSG have been reported as a component of discontinued operations in the Condensed Consolidated Statements of Operations for the periods presented.

Components of Results of Discontinued Operations

For the three and nine months ended December 31, 2011 the income from discontinued operations was comprised of the following:

	December 31, 2011
(In thousands)	Three months			Nine months
Discontinued operations:
Net revenue	$	—		$	123,807
Loss from operations of TSG	$	—		$	(1,781	)
(Loss) gain on sale of TSG	(1,200		)	19,486
(Loss) income on sale of TSG	(1,200		)	17,705
Income tax (benefit) expense	(465		)	7,302
(Loss) income from discontinued operations	$	(735	)	$	10,403

There was no activity related to Discontinued Operations in the corresponding fiscal 2013 periods.