Discontinued Operations

9 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The Granville-Phillips business unit develops, manufactures, sells and services vacuum measurement and gas analysis instrumentation to semiconductor and non-semiconductor customers. On March 17, 2014, the Company entered into an agreement to sell this business to MKS Instruments, Inc. for $87.0 million in cash. The sale was completed on May 30, 2014. In the second quarter of fiscal 2014, the Company determined that its Granville-Phillips business met the criteria to be reported as a discontinued operation. As a result, the Company’s historical financial statements have been revised to present the operating results of the Granville-Phillips business as a discontinued operation. Summarized results of the discontinued operation are as follows (in thousands):

	Three Months Ended						Nine Months Ended
	December 31, 2013		March 31, 2014		June 30, 2014		June 30, 2014		June 30, 2013
Revenue	$	7,515	$	7,453	$	4,356	$	19,324	$	20,957
Income from discontinued operations	$	2,484	$	1,825	$	579	$	4,888	$	5,859
Gain on the sale of the discontinued operations	—		—		56,804		56,804		—
Income tax provision	907		663		30,120		31,690		4,998
Income from discontinued operations, net of tax	$	1,577	$	1,162	$	27,263	$	30,002	$	861

	Three Months Ended											Twelve Months Ended
	December 31, 2012		March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Revenue	$	6,519	$	7,137		$	7,301		$	7,555		$	28,512
Income from discontinued operations	$	1,404	$	2,198		$	2,257		$	1,920		$	7,779
Income tax provision (benefit)	216		(456		)	5,238			(2,183		)	2,815
Income (loss) from discontinued operations, net of tax	$	1,188	$	2,654		$	(2,981	)	$	4,103		$	4,964

The presentation of the Granville-Phillips business as a discontinued operation had no impact on previously reported net income (loss) or stockholders' equity.    

Assets and liabilities identifiable within the Granville-Phillips business are reported as "Assets held for sale" and "Liabilities held for sale," respectively, in the Consolidated Balance Sheets. The major classes of assets and liabilities of the discontinued operation as are follows (in thousands):

	June 30, 2014		September 30, 2013
Inventory	$	—	$	3,308
Property, plant and equipment	—		364
Goodwill	—		24,106
Assets held for sale	$	—	$	27,778
Deferred revenue	$	—	$	43
Accrued warranty and retrofit costs	—		89
Liabilities held for sale	$	—	$	132

Assets and liabilities held for sale were classified as current because the Company expected to complete the sale of the Granville-Phillips business in the third quarter of 2014. These assets and liabilities are also classified as current in the September 30, 2013 Consolidated Balance Sheets for comparative purposes.