Discontinued Operations And Assets Held For Sale (Tables)

3 Months Ended

Mar. 31, 2015

Discontinued Operations And Assets Held For Sale Tables

Reconciliation of Major Classes of Assets Incluted Held for Sale Balance Sheet

Reconciliation of major classes of assets included as held for sale (in thousands) is as follows:

	March 31, 2015		December 31, 2014
ASSETS HELD FOR SALE
Carrying amounts of major classes of assets included as part of discontinued operations
Current assets:
Cash and cash equivalents	$	1,396	$	2,109
Accounts receivable, net of allowances for doubtful accounts of $99at March 31, 2015 and $109 at December 31, 2014		4,629		5,772
Inventories, net		6,505		6,039
Deferred income taxes		16		30
Prepaid and other current assets		964		777
Total current assets in operations held for sale as discontinued operations		13,510		14,727
Property, plant and equipment, net		4,050		4,385
Goodwill		4,744		4,980
Intangible assets other than goodwill, net		349		367
Deferred tax assets		39		25
Other assets		125		96
Total assets of the disposal group held for sale in the balance sheet	$	22,817	$	24,580
Carrying amounts of major classes of liabilities included as part of discontinued operations
LIABILITIES
Current liabilities:
Accounts payable	$	2,214	$	3,549
Accrued expenses		5,250		4,189
Lines of credit		135		709
Current portion of long-term debt		743		776
Income taxes payable		370		241
Other current liabilities		-		-
Total current liabilities held for sale included as part of discontinued operations		8,712		9,464
Long-term debt		3,058		3,423
Deferred income taxes		28		-
Other liabilities		509		577
Total liabilities of the disposal group classified as held for sale in the balance sheet		12,307		13,464

Reconciliation of Major Classes of Assets Incluted Held for Sale Operations

Major classes of line items constituting pretax profit of discontinued operations

	Three Months Ended
	March 31,
	2015			2014
Net sales	$	8,380		$	7,757
Cost of sales		5,570			5,758
Gross profit		2,810			1,999
Operating expenses:
Selling, general and administrative		1,806			1,575
Engineering and product development		283			316
Total operating expenses of discontinued operations		2,089			1,891
Income from discontinued operations		721			108
Other income (expense) of discontinued operations:
Interest expense		(62	)		(77	)
Other, net		172			(9	)
Total other expense, net		110			(86	)
Income before income taxes on discontinued operations		831			22
Income tax expense		313			27
Net profit/(loss) on discontinued operations, presented in the statement of comprehensive loss		518			(5	)