Discontinued Operations

3 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Sale of Assets of RSG - Fiscal 2014

On July 1, 2013, we completed the sale of our RSG business to Kyrus Solutions, Inc. (Kyrus), an affiliate of Clearlake Capital Group, L.P., for total consideration of approximately $34.5 million in cash, subject to a possible adjustment based on final working capital. Upon the close of the transaction, subsequent to June 30, 2013, the aggregate purchase price was reduced by fees of approximately $1.5 million for transaction related costs, resulting in net proceeds received of approximately $33.0 million. In addition to the purchase agreement, we entered into a transition services agreement (TSA) with Kyrus, under which we provide certain transitional administrative and supportive services to Kyrus through December 31, 2013 with the possibility of a one month extension.

Components of Results of Discontinued Operations

For the three months ended June 30, 2013 and 2012, the income from discontinued operations was comprised of the following:

	Three months ended June 30,
(In thousands)	2013			2012
Discontinued operations:
Net revenue	$	24,315		$	29,513
Income from operations of RSG	895			1,344
Income tax (benefit) expense	(60		)	482
Income from discontinued operations	$	955		$	862