Discontinued Operations (Tables)

3 Months Ended

Dec. 31, 2013

Income Statements

Schedule of Discontinued Operations

Summary comparative financial results of discontinued operations were as follows (in thousands):

	Three Months Ended
	December 31,
	2013		2012
Revenues	$	12,365	$	7,083
Income from discontinued operations before income taxes	$	1,489	$	409
Taxes		502		144
Net income from discontinued operations, net of tax	$	987	$	265
Earnings per share information:
Basic	$	0.08	$	0.02
Diluted	$	0.08	$	0.02

Balance Sheets

Schedule of Discontinued Operations

The following table presents the assets and liabilities of Transdyn as of December 31, 2013 and September 30, 2013 (in thousands):

	December 31,		September 30,
	2013		2013
Current assets:
Cash and cash equivalents	$	157	$	337
Accounts receivable		10,959		7,346
Contracts in progress		9,132		7,201
Inventories, net		18		20
Prepaid expenses and other current assets		637		505
Current assets held for sale	$	20,903	$	15,409
Long-term assets:
Property, plant and equipment, net	$	102	$	93
Other assets		53		51
Long-term assets held for sale	$	155	$	144
Current liabilities:
Accounts payable	$	4,023	$	2,973
Accrued salaries, bonuses and commissions		630		1,675
Billings in excess of cost		13,713		11,867
Other accrued expenses and liabilities		640		1,333
Current liabilities held for sale	$	19,006	$	17,848
Long-term liabilities held for sale:
Other liabilities	$	191	$	204