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Discontinued Operations (Tables)
 12 Months Ended
May. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Results of Discontinued Operations and Summary of Assets and Liabilities of Discontinued Operations

The following table summarizes the results of discontinued operations:

 

     Year Ended  
     2015      2014  
     (Dollars in thousands)  

Net Sales

    $ 9,676       $ 38,651   
  

 

 

     

 

 

  

Operating loss of discontinued operations

    $ (5,986 )     $ (4,557 ) 

Loss on disposal of discontinued operations

      (240 )       —   
  

 

 

     

 

 

  

Loss before income taxes

      (6,226 )       (4,557 ) 

Income tax benefit

      —         —   
  

 

 

     

 

 

  

Loss from discontinued operations, net of taxes

    $ (6,226 )     $ (4,557 ) 
  

 

 

     

 

 

  

 

The following is a summary of assets and liabilities of discontinued operations:

 

     May 31,  
     2015      2014  
     (Dollars in thousands)  

Current Assets:

      

Accounts receivable

    $ 30       $ 4,770   

Inventories

      110         2,703   
  

 

 

     

 

 

  
   $ 140       $ 7,473   
  

 

 

     

 

 

  

Property, Plant and Equipment:

      

Property, plant and equipment, at cost

    $ —       $ 9,812   

Less accumulated depreciation

      —         7,901   
  

 

 

     

 

 

  
   $ —       $ 1,911   
  

 

 

     

 

 

  

 

     May 31,  
     2015      2014  
     (Dollars in thousands)  

Current Liabilities:

      

Accounts payable, trade

    $ 8       $ 2,089   

Accrued salaries and wages

      —         419   

Accrued marketing programs

      37         330   

Other accrued liabilities

      59         186   
  

 

 

     

 

 

  
   $ 104       $ 3,024