Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations

3. DISCONTINUED OPERATIONS

On December4, 2012, the Company completed the disposition of the net assets of its enterprise wireless voice solutions (“EWS”) business to Mobile Devices Holdings, LLC, a Delaware limited liability corporation. The Company received cash consideration of approximately $50.7 million, resulting in a gain on sale of the discontinued operations, net of taxes, of $35.4 million, as reflected in its consolidated financial statements for the year ended December31, 2012. In the nine months ended September30, 2013, the Company recorded an additional gain on sale of discontinued operations, net of taxes, of approximately $0.5 million as a result of the final net working capital adjustment in accordance with the Purchase Agreement. Additional cash consideration of up to $57.0 million is payable over the next four years subject to certain conditions, including meeting certain agreed-upon EBITDA-based milestones. Such additional cash consideration will be accounted for as a gain on sale of discontinued operations, net of taxes, when it is realized or realizable. In accordance with accounting guidance, the Company has included the results of operations of EWS in discontinued operations within the condensed consolidated statements of operations for all periods presented.

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

	ThreeMonths Ended September30, 2012		NineMonths Ended September30, 2012
Revenues	$	17,897		$	60,441
Income from discontinued operations		4,710			15,137
Provision for income taxes		4,065			7,427
Income from discontinued operations, net of taxes	$	645		$	7,710

There were no results from discontinued operations during the three and nine months ended September30, 2013, as the divestiture of the EWS business was completed in December 2012.