Discontinued Operations

6 Months Ended

Jun. 30, 2012

Discontinued Operations [Abstract]

Discontinued Operations

3. Discontinued Operations

On September 21, 2011, we announced our plan to exit the international portion of our ScanTech business due to continued operating losses and to focus on growing our North American business. ScanTech was headquartered outside Stockholm, Sweden and distributed a line of Volvo and Saab replacement parts throughout the world. As of June 30, 2012, the business has been disposed of. During the thirteen weeks ended June 30, 2012, we reclassified approximately $3.0 million of previously recorded currency translation adjustments from accumulated other comprehensive income to net income as a result of our substantial liquidation of our investment and recorded a deferred tax asset of $0.7 million related to foreign tax credits we expect to utilize in the future. Additionally, included in ScanTech’s costs of goods sold are $0.8 million of reductions of previously recognized inventory reserves resulting from the sale of inventory during the twenty-six weeks ended June 30, 2012.

The following table summarizes ScanTech’s net sales and income before taxes which have been presented as a discontinued operation in the Consolidated Statements of Operations for the thirteen and twenty- six weeks ended June 30, 2012 and June 25, 2011:

	Thirteen Weeks Ended					Twenty-six Weeks Ended
(in thousands)	June 30, 2012		June 25, 2011			June 30, 2012		June 25, 2011
Net sales	$	679	$	4,662		$	2,892	$	8,779
Income before taxes	$	3,046	$	(140	)	$	3,113	$	(909	)