Discontinued Operations and Assets Held for Sale (Notes)

6 Months Ended

Sep. 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. The Company announced on November 1, 2016, that it had entered into an agreement to sell the foregoing mobile touch business assets. See Note 26, Subsequent Event, for further information.

For financial statement purposes, the results of operations for this discontinued business have 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 have been presented as assets held for sale.

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

	September 30, 2016
	Three Months Ended			Six Months Ended
Net sales	$	8,035		$	17,411
Cost of sales	6,939			15,363
Operating expenses	2,946			9,371
Income tax benefit	(195		)	(1,530		)
Net loss from discontinued operations	$	(1,655	)	$	(5,793	)

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

	Assets Held for Sale
Inventories	$	6,580
Intangible assets	7,500
Total assets held for sale	$	14,080