DISCONTINUED OPERATIONS

12 Months Ended

Mar. 31, 2013

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

18. DISCONTINUED OPERATIONS

        During fiscal year 2013, the Company finalized the sale of two of its non-core businesses. Total proceeds received from these sales amounted to $22.6 million, net of $1.0 million of cash sold. The Company recognized an aggregate loss of $12.1 million on the sales, which is included in the results from discontinued operations.

        In accordance with the accounting guidance, these non-core businesses qualify as discontinued operations, and accordingly, the Company has reported the results of operations and financial position of these businesses in discontinued operations within the consolidated statements of operations and the consolidated balance sheets for all periods presented as applicable.

        The results from discontinued operations were as follows:

	Fiscal Year Ended March 31,
	2013			2012			2011
	(In thousands)
Net sales	$	40,593		$	127,258		$	237,292
Cost of sales		42,793			145,403			235,710
Gross profit (loss)		(2,200	)		(18,145	)		1,582
Selling, general and administrative expenses		1,930			8,932			14,577
Intangibles amortization and impairment		11,000			6,325			4,725
Interest and other expense (income), net		11,280			(7	)		992
Loss before income taxes		(26,410	)		(33,395	)		(18,712	)
Benefit from income taxes		(959	)		(1,390	)		(2,670	)
Net loss of discontinued operations	$	(25,451	)	$	(32,005	)	$	(16,042	)

        Interest and other expense (income), net for fiscal year 2013 include the loss on sale of the businesses discussed above.

        The current and non-current assets and liabilities of discontinued operations were as follows:

	As of March 31, 2012
	(In thousands)
Accounts receivable, net	$	9,222
Inventories		11,002
Other current assets		1,418
Total current assets of discontinued operations	$	21,642
Property and equipment, net	$	30,377
Goodwill and other intangibles, net		11,000
Other assets		40
Total non-current assets of discontinued operations	$	41,417
Accounts payable	$	14,455
Other current liabilities		10,399
Total current liabilities of discontinued operations	$	24,854

        As of March 31, 2013, there were no assets or liabilities attributable to discontinued operations.