Note 3 - Discontinued Operations

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 3. DISCONTINUED OPERATIONS

On September 12, 2014, the Company sold its LCD monitor business operations to HT Precision Technologies U.S., Inc a wholly owned subsidiary of HT Precision Technologies, Inc. of Taiwan for approximately $7.2 million in cash ($7.1 million cash received as of December 31, 2014). Due to the divestiture of the LCD business, reporting of this business has been included in discontinued operations for all periods presented.

The following is a reconciliation of the net loss on the sale of the assets:

		(in $000’s)
Accounts receivable	$		4,791
Inventory	$		6,043
Other assets	$		170
Liabilities transferred	$		(1,624	)
Net assets transferred	$		9,380
Cash purchase price	$		7,235
Net loss on sale of assets	$		(2,145	)

The following amounts related to the discontinued operations were derived from historical financial information and have been segregated from continuing operations and reported as discontinued operations in the Condensed Consolidated Statement of Earnings:

Years Ended December 31,

(in $000’s )

	2015		2014			2013
Net sales	$	0	$	14,498		$	29,688
Earnings (loss) from discontinued operations (1)		88		(916	)		1,442
Loss on sale of assets		0		(2,145	)		0
Discontinued operations, net of $0 income taxes		88		(3,061	)		1,442

(1) Including transaction costs