Disposition Of Business

12 Months Ended

Sep. 30, 2016

Disposition Of Business [Abstract]

Disposition Of Business

4.Disposition of Business

The Company divested its Medical Products business in May 2016, and received cash proceeds of approximately $10.1 million, net of cash assumed by the acquirer and net of cash paid for transaction expenses. Cash proceeds of $0.8 million are held in escrow and are expected to be released to the Company in fiscal 2018.  The Company recognized a $4.1 million pre-tax gain on sale from the disposition of this business. The Company has evaluated whether this divestiture qualifies as a discontinued operation pursuant to FASB Accounting Standards Codification 205-20 “Discontinued Operations.” The Company has concluded that the divestiture of the Medical Products business does not represent a strategic shift and will not have a major effect on the Company’s financial results and operations, and is therefore not considered a discontinued operation.

The Company divested its radon business on September 30, 2015, and received cash proceeds of approximately $7.0 million, net of cash assumed by the acquirer and net of cash paid for transaction expenses. Approximately $0.7 million of transaction expenses were paid subsequent to the closing of the divestiture and were recorded in other accrued expenses on the Consolidated Balance Sheet as of September 30, 2015. The Company recognized a $1.0 million pre-tax gain on sale from the disposition of this business. In conjunction with this transaction, the Company released $1.4 million of foreign currency translation losses previously recorded in accumulated other comprehensive loss, resulting in a $0.4 million net loss on the disposition of business. The Company has evaluated whether this divestiture qualifies as a discontinued operation pursuant to FASB Accounting Standards Codification 205-20 “Discontinued Operations.” The Company has concluded that the transaction should not be reported as a discontinued operation and is not material to the Company’s financial results.