Quarterly report pursuant to Section 13 or 15(d)

Description of Business and Basis of Presentation (Tables)

v3.7.0.1
Description of Business and Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2017
Disposal Groups, Including Discontinued Operations [Table Text Block]
Summarized operating results of discontinued operations for the three and six months ended June 30, 2016 are presented in the following table (in thousands):
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2016
 
2016
 
 
 
 
 
 
 
Revenue, net of returns, allowances and discounts
 
$
1,023
 
$
1,709
 
Cost of revenues
 
 
348
 
 
536
 
Gross profit
 
 
675
 
 
1,173
 
Selling, general and administrative
 
 
171
 
 
323
 
Income from discontinued operations, net of tax
 
$
504
 
$
850
 
Schedule of Gain Loss on Disposal of Discontinued Operations [Table Text Block]
During the three and six months ended June 30, 2016, the Company recorded a gain of approximately $3.3 million (net of tax of $0) on the sale of the assets related to the purchase agreement with BSN, pursuant to the following (in thousands):
 
Proceeds from sale
 
 
 
 
 
 
 
Consideration for inventory
 
$
603
 
 
 
 
Consideration for intangible assets
 
 
3,500
 
 
 
 
Total Consideration
 
 
 
 
 
4,103
 
Less: Net book value of assets sold to BSN
 
 
 
 
 
 
 
Inventory, net
 
 
(603)
 
 
 
 
Intangibles, net
 
 
(189)
 
 
 
 
Total net book value of assets
 
 
 
 
 
(792)
 
Gain on sale of assets
 
 
 
 
$
3,311