Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In the fourth quarter of 2011, we made the strategic decision to end the operations of our Thermal Management Solutions operating segment.  We had invested in its operations for the previous few years, but had difficulty gaining traction in the market and working through issues in the manufacturing process.  Therefore, we determined that we would not achieve future success in this operation and chose to shut down operations rather than invest further. There was no activity for this segment in the first half of 2013. For the six month period ended June 30, 2012, operating losses of $0.1 million, net of tax, were reflected as discontinued operations in the accompanying condensed consolidated statements of income (loss). There was no activity for this segment in the second quarter of 2012. Net sales were $0.1 million for the six month period ended June 30, 2012.  There were no sales activity for the second quarter of 2012. The tax related to the discontinued operations was not material for 2012.

In the second quarter of 2012, we decided to cease production of our non-woven composite materials operating segment located in Rogers, Connecticut. Sales of non-woven products had been steadily declining for several years and totaled approximately $5.3 million for the year ended December 31, 2012. Manufacturing operations ceased by the end of 2012 and last sales out of inventory occurred in the first quarter of 2013. For the six month period ended June 30, 2013 , operating profits of $0.1 million were reflected as discontinued operations in the accompanying condensed consolidated statements of income (loss). There was minimal activity for this segment in the second quarter of 2013. For the six month period ended June 30, 2012, an operating loss of $0.1 million, net of tax, was reflected as discontinued operations in the accompanying condensed consolidated statements of income (loss). There was minimal activity for this segment in the second quarter of 2012. Net sales were $0.1 million and $0.2 million for the three and six month periods ended June 30, 2013, respectively. Net sales were $1.4 million and $2.6 million for the three and six month periods ended June 30, 2012, respectively. The tax related to the discontinued operations was $0.1 million for the six months ended June 30, 2013 and June 30, 2012. Tax related to this segment was diminimus for the three months ended June 30, 2013 and June 30, 2012.