Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

13. Discontinued Operations

In 2012, the Company decided to exit its LCDP (“Liquid Crystal Display Product”) business which produced LCD modules. The operation of this LCDP business ceased in December 2012.

In 2013, after the final evaluation on the viability of its core business of LCM and FPC production, the Company decided to exit its FPC operation by the end of March 2013 as it has been generating losses since initial production, and production operation of LCMs for tablets by the end of June 2013 due to a lack of customer orders. These productions were located primarily in Wuxi.

Assets of $43,385 have been classified as assets held for sale (Note 6) and are expected to be sold within 2014.

Summarized financial information for our discontinued operations is as follows:

	2011			2012			2013
Net sales		93,193			493,997			47,086
(Loss) income before income tax		(14,767	)		31,315			(37,259	)
Income tax credit (expense)		1,664			(1,827	)		(3,660	)
(Loss) income from discontinued operations, net of income tax		(13,103	)		29,488			(40,919	)
Accounts receivable					54,003			—
Inventories					8,906			—
Prepaid expense and other receivables					8,813			2,364
Deferred tax assets					3,743			—
Property, plant and equipment, net					87,329			—
Land use rights					5,314			—
Other assets					424			—
Total assets					168,532			2,364
Notes payable					3,878			—
Accounts payable					46,169			—
Trust Receipt loans					3,558			—
Accrued expenses and other payables					8,304			234
Short term bank borrowings					4,824			—
Income tax payable					476			—
Total liabilities					67,209			234
Net assets of discontinued operations					101,323			2,130