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Discontinued Operations
 6 Months Ended
Jul. 31, 2011
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 15. Discontinued Operations


          During fiscal year 2009, the Company completed the exit of its retail business. Accordingly, all operations of the Company’s former retail segment and certain sold properties have been classified as discontinued operations for all periods presented. Once real estate property has been sold, and no continuing involvement is expected, the Company classifies the results of the operations as discontinued operations. The results of operations were previously reported in the Company’s retail or real estate segment, depending on when the store ceased operations. Below is a table reflecting certain items of the Consolidated Condensed Statements of Operations that were reclassified as discontinued operations for the periods indicated (amounts in thousands):


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
July 31,

 

Six Months Ended
July 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

Net sales and revenue

 

$

1,094

 

$

2,128

 

$

2,384

 

$

4,498

 

Cost of sales

 

 

146

 

 

701

 

 

337

 

 

1,499

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

601

 

 

815

 

 

1,231

 

 

1,590

 

Provision for income taxes

 

 

(217

)

 

(285

)

 

(437

)

 

(555

)

 

 

 

 

 

 

Income from discontinued operations, net of tax

 

$

384

 

$

530

 

$

794

 

$

1,035

 

 

 

 

 

 

 

Gain on disposal

 

 

62

 

 

30

 

 

267

 

 

30

 

Provision for income taxes

 

 

(22

)

 

(10

)

 

(93

)

 

(10

)

 

 

 

 

 

 

Gain on disposal of discontinued operations, net of tax

 

$

40

 

$

20

 

$

174

 

$

20