Discontinued Operations, Sale of the Cold-EEZE® Business (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Proceeds from Sale of Business

The net proceeds received from the sale of the Cold-EEZE^® Business were as follows (in thousands):

	Amount
Gross consideration from the sale of the Cold-EEZE® Business	$	50,000
Closing and transaction costs		(4,175	)
Net proceeds from sale of the Cold-EEZE® Business		45,825
Book value of assets sold		(13	)
Gain on sale of the Cold-EEZE® Business before income taxes		45,812
Income tax expense		(3,423	)
Gain on sale of the Cold-EEZE® Business after income taxes	$	42,389
Net proceeds:
Cash paid at closing, net of closing and transaction costs	$	43,145
Proceeds due on sale of assets, cash held in escrow		5,000
	$	48,145

Schedule of Operating Results of Discontinued Operations

The following table sets forth the condensed operating results of our discontinued operations for the nine months ended September 30, 2018 and 2017, respectively, (in thousands):

	For the Nine Months ended
	September 30, 2018		September 30, 2017
Net sales	$	-	$	4,687
Cost of sales		-		2,037
Sales and marketing		-		1,720
Administration		-		348
Research and development		-		52
Income from discontinued operations	$	-	$	530