Discontinued Operations

9 Months Ended

Mar. 31, 2013

Discontinued Operations

Discontinued Operations

Note 12-Discontinued Operations

On September 6, 2011, the Company, through its subsidiary The Winetasting Network, completed the sale of certain assets of its wine fulfillment services business in order to focus on its core Direct-to-Consumer wine business. The sales price consisted of $12.0 million of cash proceeds at closing, with the potential for an additional $1.5 million upon achieving specified revenue targets during the two year period following the closing date. (The first annual specified revenue target was not achieved.)

Results for discontinued operations are as follows:

	Three Months Ended					Nine Months Ended
	March 31, 2013		April 1, 2012			March 31, 2013		April 1, 2012
	(in thousands)
Net revenues from discontinued operations	$	—	$	—		$	—	$	2,003
Operating loss from discontinued operations	$	—	$	—		$	—	$	(232	)
Gain (loss) on sale of discontinued operations, net of tax	$	—	$	(136	)	$	—	$	4,342
Income (loss) from discontinued operations	$	—	$	(136	)	$	—	$	4,320