Discontinued Operations and Assets Held for Sale (Notes)

9 Months Ended

Dec. 31, 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 operations that the Company acquired as part of its acquisition of Atmel. The mobile touch assets had been marketed for sale since the Company's 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. On November 10, 2016, the Company completed the sale of the mobile touch assets to Solomon Systech (Limited) International, a Hong Kong based semiconductor company. The transaction included the sale of certain semiconductor products, equipment, customer list, backlog, patents, and a license to certain other intellectual property and patents related to the Company's mobile touch product line. The Company also agreed to provide certain transition services to Solomon Systech. 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.

The results of discontinued operations for the three and nine months ended December 31, 2016 are as follows (amounts in thousands):

	December 31, 2016
	Three Months Ended			Nine Months Ended
Net sales	$	923		$	18,334
Cost of sales	478			15,841
Operating expenses	1,279			10,650
Gain on Sale	643			643
Income tax benefit	(31		)	(1,561		)
Net loss from discontinued operations	$	(160	)	$	(5,953	)

During the three months ended December 31, 2016, the Company began to actively market a 6-inch wafer fabrication facility it acquired as part of its acquisition of Micrel in August 2015. The Company expects to sell such assets within one year. As of December 31, 2016, these assets consisting of property, plant and equipment have been presented as held for sale in the Company's condensed consolidated financial statements.