XML 52 R39.htm IDEA: XBRL DOCUMENT v3.19.2
Discontinued operations (Tables)
 12 Months Ended
Mar. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table presents the net income from discontinued operations for the year ended March 30, 2019, March 31, 2018, and March 25, 2017:
 
 
 
Fiscal Year Ended
 
 
 
March 30, 2019
 
 
March 31,

2018*
 
 
March 25,

2017*
 
 
 
(In thousands, except per share amounts)
 
Net sales
 
$
-
 
 
$
110,789
 
 
$
224,319
 
Cost of sales
 
 
-
 
 
 
72,615
 
 
 
143,194
 
Gross profit
 
 
-
 
 
 
38,174
 
 
 
81,125
 
Selling, general and administrative expenses
 
 
381
 
 
 
30,902
 
 
 
61,970
 
Restructuring charges
 
 
-
 
 
 
-
 
 
 
211
 
Depreciation and amortization
 
 
-
 
 
 
1,674
 
 
 
3,170
 
Total operating expenses
 
 
381
 
 
 
32,576
 
 
 
65,351
 
Operating (loss) income
 
 
(381
)
 
 
5,598
 
 
 
15,774
 
Interest and other financial costs
 
 
-
 
 
 
3,683
 
 
 
6,905
 
Debt extinguishment charges
 
 
-
 
 
 
3,415
 
 
 
-
 
(Loss) income before taxes
 
 
(381
)
 
 
(1,500
)
 
 
8,869
 
Income tax expense (benefit)
 
 
-
 
 
 
92
 
 
 
(7,065
)
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from discontinued operations, net of taxes
 
 
(381
)
 
 
(1,592
)
 
 
15,934
 
Gain on disposal, net of taxes
 
 
-
 
 
 
37,682
 
 
 
-
 
Net (loss) income from discontinued operations
 
$
(381
)
 
$
36,090
 
 
$
15,934
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
 
17,961
 
 
 
17,961
 
 
 
17,961
 
Diluted
 
 
17,961
 
 
 
18,393
 
 
 
18,418
 
Net (loss) income from discontinued operations per common share:
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
(0.02
)
 
$
2.01
 
 
$
0.89
 
Diluted
 
$
(0.02
)
 
$
1.96
 
 
$
0.87
 
 
(*)
Recast (refer to note 1)
Schedule of Reconciliation of Gain on Sale of Subsidiary
The table below presents the reconciliation of the gain on the sale of Mayors:
 
 
 
October 23,
 2017*
 
Cash proceeds on disposal
 
$
134,982
 
Legal and professional fees incurred as a result of the Aurum Transaction
 
 
(3,759
)
Cash
 
 
3,083
 
Accounts receivable
 
 
15,705
 
Inventory
 
 
89,101
 
Prepaid expenses
 
 
1,110
 
Property and equipment
 
 
11,176
 
Intangible assets
 
 
343
 
Other assets
 
 
244
 
Deferred income tax asset
 
 
6,705
 
Accounts payable
 
 
(27,207
)
Accrued expenses
 
 
(3,552
)
Long-term debt
 
 
(333
)
Other long-term liabilities
 
 
(2,834
)
Total identifiable net assets
 
 
93,541
 
Gain on disposal, net of taxes of nil
 
$
37,682
 
 
(*)
Recast (refer to note 1)