Discontinued Operations

The Company is actively negotiating the sale of substantially all of the assets and liabilities of its South African personal protective equipment distribution business and its Zambian operations. Management continues to conclude it is probable that the sale of these assets and liabilities will close in 2015. The operations of this business qualify as a component of an entity under FASB ASC 205-20 "Presentation of Financial Statements - Discontinued Operations", and thus the operations have been reclassified as discontinued operations and prior periods have been reclassified to conform to this presentation.

Summarized financial information for discontinued operations is as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands)	2015		2014			2015		2014
Discontinued Operations
Net sales	$	11,384	$	10,589		$	22,541	$	20,649
Other income, net	107		15			173		28
Cost and expenses:
Cost of products sold	9,058		8,455			18,048		16,151
Selling, general and administrative	1,682		1,605			3,284		3,159
Currency exchange losses (gains), net	38		(62		)	208		(69		)
Income from discontinued operations before income taxes	713		606			1,174		1,436
Provision for income taxes	243		153			396		369
Income from discontinued operations, net of tax	$	470	$	453		$	778	$	1,067

Certain balance sheet items that are related to the Company's South African personal protective equipment distribution business and its Zambian operations are reported as discontinued operations. These items are reported in the following consolidated balance sheet lines:



(In thousands)	June 30, 2015		December 31, 2014
Discontinued Operations assets and liabilities
Trade receivables, less allowance for doubtful accounts	$	6,949	$	6,638
Inventories	11,643		11,829
Net property	288		342
Other assets	1,896		2,022
Total assets	20,776		20,831
Accounts payable	4,053		5,263
Accrued and other liabilities	1,059		991
Total liabilities	5,112		6,254
Net assets	$	15,664	$	14,577

The following summary provides financial information for discontinued operations related to net loss related to noncontrolling interests:



	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands)	2015		2014			2015		2014
Net loss (income) attributable to noncontrolling interests
Loss from continuing operations	$	347	$	90		$	521	$	309
Loss (income) from discontinued operations	106		(97		)	164		(207		)
Net loss (income)	$	453	$	(7	)	$	685	$	102