Discontinued Operations

12 Months Ended

Sep. 30, 2016

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

N. Discontinued Operations

On January 15, 2014, we sold our wholly owned subsidiary Transdyn to a global provider of electronic toll collection systems, headquartered in Vienna, Austria.  The purchase price from the sale of this subsidiary totaled $16.0 million, of which we received cash of $14.4 million.  The remaining $1.6 million was placed into an escrow account and was released to us in July 2015.  We received additional cash of $0.4 million after the final working capital adjustment was calculated in March 2014. We recorded a gain on this transaction of $8.6 million, net of tax, which has been included in income from discontinued operations in Fiscal 2014 in the accompanying consolidated statements of operations.  Transdyn’s results were previously reflected in the Process Control Systems business segment.

We have presented the results of these operations as income from discontinued operations, net of tax, in the Fiscal 2014 consolidated statement of operations.  

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

	Year Ended September 30,
	2016		2015		2014
Revenues	$	—	$	—	$	13,923
Income from discontinued operations, net of tax of $633	$	—	$	—	$	1,041
Gain on sale of discontinued operations, net of tax of $5,218		—		—		8,563
Net income from discontinued operations, net of tax	$	—	$	—	$	9,604
Earnings per share information:
Basic	$	—	$	—	$	0.80
Diluted	$	—	$	—	$	0.80