Discontinued Operations

3 Months Ended

Mar. 31, 2012

Discontinued Operations

Note 17 – Discontinued Operations

In the fourth quarter of 2011, we made the strategic decision to end the operations of our TMS operating segment.  We had invested in its operations for the last 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.  In the first quarter of 2012 and 2011, $0.1 million and $1.6 million, respectively, of operating losses, net of tax, were reflected as discontinued operations in the accompanying condensed consolidated statements of  comprehensive income. Net sales associated with the discontinued operations were $0.1 million in each of the first quarters of 2012 and 2011.