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DISCONTINUED OPERATIONS
 12 Months Ended
Mar. 31, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
DISCONTINUED OPERATIONS

The Company entered into an Asset Purchase Agreement on October 2, 2009 to sell Altec Lansing, its AEG segment ("AEG"), for which the sale was completed effective December 1, 2009. AEG was engaged in the design, manufacture, sales and marketing of audio solutions and related technologies.  All of the revenues in the AEG segment were derived from the sale of Altec Lansing products. All operations of AEG have been classified as discontinued operations in the Consolidated statement of operations for all periods presented.

There was no income or loss from discontinued operations for the fiscal years ended March 31, 2012 and 2011. The results from discontinued operations for the fiscal year ended March 31, 2010 were as follows (in thousands):

Net revenues
 
$
64,916

Cost of revenues
 
(53,127
)
Operating expenses
 
(16,433
)
Impairment of goodwill and long-lived assets
 
(25,194
)
Restructuring and other related charges
 
(19
)
Loss on sale of AEG
 
(611
)
Loss from operations of discontinued AEG segment (including loss on sale of AEG)
 
(30,468
)
Tax benefit from discontinued operations
 
(11,393
)
Loss on discontinued operations, net of tax
 
$
(19,075
)


The Company recognized a pre-tax loss on the sale of Altec Lansing in fiscal year 2010, calculated as follows (in thousands):

Proceeds received upon close
 
$
11,075

Escrow payments received to date
 
2,065

Remaining escrow payments to be received (subsequently received in fiscal year 2011)
 
1,625

Payment to purchaser for adjustment for final value of net assets under APA
 
(3,956
)
Total estimated proceeds
 
10,809

Book value of net assets sold
 
(11,057
)
Costs incurred upon closing
 
(363
)
Loss on sale of AEG
 
$
(611
)