Sale of Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Sale of Discontinued Operations

14. Sale of Discontinued Operations

On September 30, 2013, the Company executed a stock purchase agreement to sell 100% of the outstanding shares of Greenline, a wholly owned subsidiary of the Company, to CameronTec Intressenter AB. The transaction closed on October 8, 2013. The aggregate purchase price was $11.0 million in cash, including a post-closing working capital adjustment. The Company recognized a gain on the disposition of $7.6 million, net of a tax benefit.

Greenline’s operating results have been classified as discontinued operations in the Consolidated Statement of Operations. The following is a summary of Greenline’s operating results:

	Year Ended December 31,
	2013			2012			2011
	(In thousands)
Revenues	$	6,137		$	7,364		$	9,227
Expenses		6,384			10,048			11,944
Loss before income taxes and gain on the sale from discontinued operations		(247	)		(2,684	)		(2,717	)
Benefit for income taxes		(58	)		(969	)		(974	)
Gain on the sale of discontinued operations, net of tax benefit		7,642			—			—
Income (loss) from discontinued operations	$	7,453		$	(1,715	)	$	(1,743	)