DISCONTINUED OPERATIONS - Note 16

12 Months Ended

Mar. 31, 2015

Discontinued Operations - Note 16

DISCONTINUED OPERATIONS - Note 16

16. DISCONTINUED OPERATIONS

On September 30, 2013, the Company completed the sale of its dedicated server hosting business to IRC Company, Inc. ("IRC") and, as a result, no longer provides dedicated server hosting services. In the transaction, IRC purchased 100% of the stock of Central Host, Inc., which had been wholly owned by the Company and all of the assets specific to the dedicated server hosting business.

The Company sold its dedicated server hosting business for total consideration of $3.0 million in cash, which was received on October 1, 2013.

The dedicated server hosting business has been reported as discontinued operations. The results of operations of these discontinued operations are as follows:

		Years Ended March 31,
		2015		2014		2013
Revenue	$	-	$	1,430	$	3,828
Operating expense		-		922		3,005
Income before income taxes		-		508		823
Provision for income taxes		-		188		334
Income from discontinued operations		-		320		489
Gain on disposal of discontinued operations,
net of income tax provision of $456		-		596		-