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DISCONTINUED OPERATIONS (Tables) | 9 Months Ended
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Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of discontinued operations impact on income statement and balance sheets | Results of the discontinued operations consisted of the following:
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Net sales | $ | 1,877 |  |  | $ | 2,308 |  |  | $ | 5,720 |  |  | $ | 7,792 |
Cost of goods sold | 1,452 |  |  | 1,810 |  |  | 4,623 |  |  | 5,394 |
Gross profit | 425 |  |  | 498 |  |  | 1,097 |  |  | 2,398 |
Selling, general and administrative expense | 493 |  |  | 518 |  |  | 1,453 |  |  | 1,577 |
Operating (loss) income from discontinued operations | (68 | ) |  | (20 | ) |  | (356 | ) |  | 821 |
Gain on sale of product line | 1,532 |  |  | 4,114 |  |  | 1,532 |  |  | 4,114 |
Income from discontinued operations before income taxes | 1,464 |  |  | 4,094 |  |  | 1,176 |  |  | 4,935 |
Income tax expense | 530 |  |  | 1,430 |  |  | 598 |  |  | 1,675 |
Income from discontinued operations | $ | 934 |  |  | $ | 2,664 |  |  | $ | 578 |  |  | $ | 3,260 |
Assets and liabilities of the discontinued operations are classified as assets held for sale and liabilities held for sale in the condensed consolidated balance sheets and consisted of the following:
| Dollars in Thousands
| September 30, 2015 |  | December 31, 2014
ASSETS |  |  |
Accounts receivable, net | $ | 1,086 |  |  | $ | 2,238 |
Inventory, net | 2,201 |  |  | 3,005 |
Other current assets | 146 |  |  | 141 |
Total current assets | 3,433 |  |  | 5,384 |
Property and equipment, net | 67 |  |  | 124 |
Other assets | 31 |  |  | 91 |
Total Assets | $ | 3,531 |  |  | $ | 5,599 |
LIABILITIES |  |  |
Accounts payable | $ | 560 |  |  | $ | 973 |
Accrued compensation | 374 |  |  | 447 |
Accrued expenses | 238 |  |  | 255 |
Deferred revenue | 682 |  |  | 737 |
Total current liabilities | 1,854 |  |  | 2,412 |
Other liabilities | 148 |  |  | 142 |
Total Liabilities | $ | 2,002 |  |  | $ | 2,554 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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