Discontinued Operations

9 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Sale of Assets of RSG - Fiscal 2014

In July 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 $37.6 million in cash, including a working capital adjustment of $3.1 million. Upon the close of the transaction, the aggregate purchase price was reduced by fees of approximately $1.6 million for transaction related costs, resulting in net proceeds received of approximately $36.0 million. In addition to the purchase agreement, we entered into a transition services agreement (TSA) with Kyrus, under which we provided certain transitional administrative and support services to Kyrus through January 31, 2014.

Components of Results of Discontinued Operations

For the three and nine months endedDecember 31, 2013 and 2012, the income from discontinued operations was comprised of the following:

	Three months ended					Nine months ended
	December 31,					December 31,
(In thousands)	2013			2012		2013		2012
Discontinued operations:
Net revenue	$	—		$	39,258	$	24,315	$	99,035
Income from operations of RSG	—			2,451		895		5,451
Gain on sale of RSG	—			—		23,135		—
Income on sale of RSG	—			2,451		24,030		5,451
Income tax expense	584			832		2,579		1,906
(Loss) income from discontinued operations	$	(584	)	$	1,619	$	21,451	$	3,545

Income tax expense recorded during the three months ended December 31, 2014 is due to intra-period tax allocation rules associated with discontinued operations.