Discontinued Operations and Assets Held for Sale (Notes)

3 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

Discontinued Operations and Assets Held for Sale

Discontinued operations include the mobile touch business that the Company acquired as part of its acquisition of Atmel. The mobile touch business has been marketed for sale since the acquisition of Atmel on April 4, 2016 based on management's decision that it was not a strategic fit for the Company's product portfolio.

For financial statement purposes, the results of operations for this discontinued business has been segregated from those of the continuing operations and are presented in the Company's condensed consolidated financial statements as discontinued operations and the net assets of the remaining discontinued business has been presented as assets held for sale.

The results of discontinued operations for the three months ended June 30, 2016 are as follows (amounts in thousands):

Net sales	$	9,376
Cost of sales	8,424
Operating expenses	6,425
Income tax benefit	(1,335		)
Net loss from discontinued operations	$	(4,138	)

As of June 30, 2016, assets held for sale are comprised of the following (amounts in thousands):

Accounts receivable, net	$	5,932
Inventories	4,966
Intangible assets	7,500
Total assets held for sale	$	18,398