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Discontinued operations
 6 Months Ended
Jun. 30, 2016
Discontinued Operations And Disposal Groups [Abstract]  
Discontinued operations

4. Discontinued operations

On June 30, 2015, in connection with the Company’s sole focus on the big data and analytics sector via its consolidated subsidiaries, the Company’s Board of Directors approved a plan under which the Company discontinued the operations of its Chinese-and British Virgin Islands-based subsidiaries (collectively, the “Advertising Business”). The Company recognized the transactions in accordance with ASC Topic 205-20, “Discontinued Operations”. The Company has disposed of all assets and liabilities related to its Advertising Business, by the disposal of its equity interests in the Advertising Business to an independent third party in 2015 for $0.

The following financial information presents the results of operations of the Advertising Business for the three and six months ended June 30, 2015.

 

 

 

Three months ended

 

 

Six months ended

 

(In thousands)

 

June 30, 2015

 

 

June 30, 2015

 

Revenue

 

$

162

 

 

$

171

 

 

 

 

 

 

 

 

 

 

Pretax loss from operations of discontinued operations

 

$

(1,171

)

 

$

(1,262

)

Loss on disposal of discontinued operations

 

 

(41,471

)

 

 

(41,471

)

Income tax expenses

 

 

127

 

 

 

127

 

Less: Non-controlling interests

 

 

(1,280

)

 

 

(1,297

)

Net loss from discontinued operations

 

$

(41,489

)

 

$

(41,563

)

 

Loss on disposal of discontinued operations was composed of the following items:

 

(In thousands)

 

 

 

 

Write-off of goodwill

 

$

(35,472

)

Write-off of intangible assets

 

 

(4,080

)

Write-off of long-term deferred assets

 

 

(517

)

Lease agreements early termination compensation expenses

 

 

(1,211

)

Employee severance compensation expenses

 

 

(191

)

Loss on disposal of discontinued operations

 

$

(41,471

)