Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations

12. Discontinued Operations

In October 2013, the Company sold 100% of the outstanding shares of Greenline Financial Technologies, Inc. (“Greenline”), a wholly-owned subsidiary of the Company, to CameronTec Intressenter AB. 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 for the three and six months ended June 30, 2013 have been classified as discontinued operations in the Consolidated Statement of Operations. The following is a summary of Greenline’s operating results for the three and six months ended June 30, 2013:

	Three Months Ended		Six Months Ended
	June 30, 2013		June 30, 2013
	(In thousands)
Revenues	$	2,052	$	3,958
Expenses		1,961		4,226
Income (loss) before income taxes		91		(268	)
Provision (benefit) for income taxes		37		(103	)
Net income (loss) from discontinued operations	$	54	$	(165	)