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DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
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