DISCONTINUED OPERATIONS AND EXIT ACTIVITIES

3 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS AND EXIT ACTIVITIES

(4) DISCONTINUED OPERATIONS AND EXIT ACTIVITIES

In connection with the sale of certain assets and wind down and exit from the specialty pharmacy business (see Note 1 - Organization and Basis of Presentation), the Company met the criteria for classifying certain assets and liabilities of its specialty pharmacy business as a discontinued operation as of June 30, 2019. Prior to its classification as a discontinued operation, the specialty pharmacy business was included as part of the Supply Chain Services segment.

The Company incurred $0.9 million of severance and retention expenses directly associated with the specialty pharmacy business within discontinued operations during the three months ended September 30, 2019.

The following table summarizes the major classes of assets and liabilities classified as discontinued operations at September 30, 2019 and June 30, 2019 (in thousands):



	September 30, 2019		June 30, 2019
Assets
Accounts receivable	$	—	$	21,183
Inventory	—		3,385
Assets of discontinued operations	$	—	$	24,568

Liabilities
Accounts payable	$	11	$	2,255
Accrued expenses	607		6,630
Accrued compensation and benefits	772		2,373
Other current liabilities	471		539
Operating lease liability	923		—
Liabilities of discontinued operations	$	2,784	$	11,797

The following table summarizes the major components of net income (loss) from discontinued operations for the three months ended September 30, 2019 and 2018 (in thousands):



	Three Months Ended September 30,
	2019			2018
Net revenue	$	—		$	108,944
Cost of revenue	—			105,854
Gross profit	—			3,090
Selling, general and administrative expense	1,936			4,353
Amortization of purchased intangible assets	—			661
Operating expenses	1,936			5,014
Operating loss from discontinued operations	(1,936		)	(1,924		)
Net gain on disposal of assets	2,409			—
Income (loss) from discontinued operations before income taxes	473			(1,924		)
Income tax expense (benefit)	83			(525		)
Income (loss) from discontinued operations, net of tax	390			(1,399		)
Net (income) loss from discontinued operations attributable to non-controlling interest in Premier LP	(197		)	832
Net income (loss) from discontinued operations attributable to stockholders	$	193		$	(567	)