Discontinued Operations

3 Months Ended

Sep. 30, 2013

Discontinued Operations [Abstract]

Discontinued Operations

11.Discontinued Operations

On August 30, 2012, the Company sold substantially all of the assets of its Commercial Products Business Unit (“CBU”), for approximately $838,000 in cash. The purchaser also assumed certain liabilities and obligations of CBU.  The Company retained the CBU accounts receivable balance at August 30, 2012 of approximately $608,000.  The sale of CBU resulted in an after-tax gain of approximately $124,000 in the first quarter of fiscal 2013 that offset a loss on the CBU operations of $98,000.

Information regarding revenue and operating results of CBU included in discontinued operations is as follows (in thousands):

	Three Months Ended		Two Months Ended
	9/30/2013		8/31/2012
Net Sales	$	-	$	595
Operating Loss	$	-	$	(148)

The operating loss reported for CBU above does not include corporate costs previously allocated between the Company’s operating segments, which remain with the Company.

The Company’s balance sheet at September 30, 2013 and June 30, 2013, did not have any assets or liabilities related to CBU.