Discontinued Operations

12 Months Ended

Dec. 31, 2014

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 2014 or 2013. For the year ended December 31, 2012, an operating loss of $0.1 million net of tax, was reflected as discontinued operations in the accompanying consolidated statements of income (loss). Net sales associated with the discontinued operations for the year ended December 31, 2012 was $0.1 million. The tax related to the discontinued operations was de minimis for 2013 and 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. There was no activity for this segment in 2014. For the year ended December 31, 2013, an operating loss of $0.1 million, net of tax, was reflected as discontinued operations in the accompanying consolidated statement of income (loss). Net sales for 2013 were $0.2 million and tax related to the discontinued operation was $0.1 million for the year ended December 31, 2013. For the year ended December 31, 2012 an operating loss of $0.3 million, net of tax, was reflected as discontinued operations in the accompanying consolidated statements of income (loss). The tax related to the discontinued operations was de minimis for the year ended December 31, 2012.