Discontinued Operations

6 Months Ended

Jun. 30, 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. 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 comprehensive income (loss). There was no activity for this segment in the second quarter of 2012. For the three and six month periods ended June 30, 2011, operating losses of $1.3 million and $2.9 million, net of tax, respectively, were reflected as discontinued operations in the accompanying condensed consolidated statements of comprehensive income (loss). Net sales associated with the discontinued operations were $0.1 million for the six months ended June 30, 2012 and for the three and six month periods ended June 30, 2011.  There was no sales activity for the second quarter of 2012.