Discontinued Operations (Tables)

Summarized results from discontinued operations were as follows (in thousands):


	Three Months Ended October 31,				Six Months Ended October 31,
	2014		2013		2014			2013
Revenues from discontinued operations	$	—	$	4,390	$	2,535		$	8,642

Income from discontinued operations before income taxes	$	—	$	673	$	303		$	1,119
Income tax expense		—		253		23			421

Net income from discontinued operations		—		420		280			698
Loss on disposal of discontinued operations, net of tax		—		—		(1,537	)		—

Net income (loss) from discontinued operations, net of tax	$	—	$	420	$	(1,257	)	$	698

The carrying amounts of the major classes of assets and liabilities of discontinued operations were as follows (in thousands):


	July 2,		April 30,
	2014		2014
ASSETS:
Restricted cash	$	104	$	—
Accounts receivable, net		1,097		1,036
Prepaid expenses and other current assets		48		49

Total current assets		1,249		1,085
Property and equipment, net		37		37
Goodwill		9,002		9,002
Acquired intangible assets, net		32,813		32,813

Total assets	$	43,101	$	42,937

LIABILITIES:
Accounts payable	$	76	$	221
Accrued expenses and other current liabilities		823		895
Deferred revenue		2,230		2,505

Total Liabilities	$	3,129	$	3,621

The Company recorded a loss on the disposal of discontinued operations of $1.5 million, net of tax, in the six months ended October 31, 2014 which was calculated as follows (in thousands):


Cash consideration	$	30,000
Less:
Basis in net assets as of July 2, 2014		39,972
Costs incurred directly attributable to the transaction		1,039

Loss before income taxes		(11,011	)
Income tax benefit		(282	)

Loss on disposal of discontinued operations, net of taxes		(10,729	)
Loss on disposal of discontinued operations, net of taxes, previously recognized		9,192

Loss on disposal of discontinued operations, net of tax, recognized in current period	$	(1,537	)

The carrying amount of assets held for sale in the condensed consolidated balance sheet was calculated as follows (in thousands):


	April 30,
	2014
Total assets of discontinued operations	$	42,937
Estimated loss on disposal of discontinued operations, net of tax		(9,192	)

Assets held for sale	$	33,745

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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