XML 33 R19.htm IDEA: XBRL DOCUMENT v3.19.2
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2019
Summary of Assets and Liabilities Held for Sale and Operating Results Related to Discontinued Operations

Assets and liabilities related to discontinued operations or held for sale consisted of the following:

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Assets

 

 

 

 

 

 

 

 

Current assets held for sale:

 

 

 

 

 

 

 

 

Accounts receivable, net

 

$

230

 

 

$

108

 

Inventory, net

 

 

2,635

 

 

 

2,841

 

Other current assets

 

 

351

 

 

 

328

 

 

 

 

 

 

 

 

 

 

Long-term assets held for sale:

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

211

 

 

 

260

 

Other noncurrent assets

 

 

1,471

 

 

 

1,866

 

Operating lease right-of-use assets

 

 

1,248

 

 

 

—

 

Goodwill

 

 

3,550

 

 

 

3,550

 

Intangible assets, net

 

 

5,540

 

 

 

5,957

 

Total assets

 

$

15,236

 

 

$

14,910

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current liabilities held for sale:

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

526

 

 

$

580

 

Current lease liability

 

 

485

 

 

 

—

 

Noncurrent operating lease liability

 

 

828

 

 

 

—

 

Other noncurrent liabilities

 

 

67

 

 

 

78

 

Deferred revenues

 

 

196

 

 

 

167

 

Noncurrent liabilities

 

$

2,102

 

 

$

825

 

 

The following table summarizes the results of discontinued operations for the periods presented (in thousands)

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

2019

 

 

2018

 

 

 

2019

 

 

2018

 

Product revenue

 

$

197

 

 

$

660

 

 

$

901

 

$

1,391

 

Costs of revenue

 

 

199

 

 

 

630

 

 

 

857

 

 

1,209

 

Gross profit

 

 

(2

)

 

 

30

 

 

 

44

 

 

182

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

237

 

 

 

684

 

 

 

656

 

 

1,790

 

Sales and marketing

 

 

97

 

 

 

340

 

 

 

411

 

 

723

 

General and administrative

 

 

39

 

 

 

176

 

 

 

185

 

 

413

 

Total operating expenses

 

 

373

 

 

 

1,200

 

 

 

1,252

 

 

2,926

 

Operating loss

 

 

(375

)

 

 

(1,170

)

 

 

(1,208

)

 

(2,744

)

Other income (expense)

 

 

(5

)

 

 

(204

)

 

 

142

 

 

148

 

Loss from discontinued operations

 

$

(380

)

 

$

(1,374

)

 

$

(1,066

)

$

(2,596

)

 

Included in the statement of cash flows are the following non-cash adjustments related to the discontinued operations (in thousands):

 

 

 

For the six months ended June 30

 

 

 

2019

 

 

2018

 

Depreciation and amortization

 

$

467

 

 

$

790

 

Provision for excess inventory

 

$

—

 

 

$

398

 

Loss on asset disposal

 

$

—

 

 

$

20

 
Discontinued Operations Disposed of By Sale [Member]  
Summary of Business Consideration to Calculation of the Loss on Sale The following table summarizes the calculation of the loss on sale of the cell therapy business, which will be finalized during the fourth quarter of 2019 (in thousands):

 

 

 

 

 

Consideration received

 

$

7,000

 

Transaction costs

 

(1,161

)

Net cash proceeds

 

5,839

 

Less:

 

 

Carrying value of business and assets sold

 

12,145

 

Net loss on sale of business

 

$

6,306