DISCONTINUED OPERATIONS

12 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

20. 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 $27.2 million, net of $1.0 million of cash sold. The Company recognized an aggregate loss of $12.1 million on these sales, which is included in interest and other, net within the results from discontinued operations in fiscal year 2013.

        In accordance with the accounting guidance applicable at the time, 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 2013
	(In thousands)
Net sales	$	40,593
Cost of sales		42,793
Gross loss		(2,200	)
Selling, general and administrative expenses		1,930
Intangibles amortization and impairment		11,000
Interest and other, net		11,280
Loss before income taxes		(26,410	)
Benefit from income taxes		(959	)
Net loss of discontinued operations	$	(25,451	)