Discontinued Operations (Tables)

3 Months Ended

Jul. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Results from discontinued operations were as follows (in thousands):



	Three Months Ended July 31,
	2015		2014
Revenues from discontinued operations	$	—	$	2,535
Income from discontinued operations before income taxes	$	—	$	303
Income tax expense	—		23
Net income from discontinued operations	—		280
Loss on disposal of discontinued operations, net of tax	—		(1,537		)
Loss from discontinued operations, net of tax	$	—	$	(1,257	)

Calculation of Loss on Disposal of Discontinued Operations

The Company recorded a loss on the disposal of discontinued operations of $1.5 million, net of tax, in the three months ended July 31, 2014 which was calculated as follows (in thousands):



Cash consideration	$	30,000
Less:
Basis in net assets as of July 2, 2014	39,972
Costs incurred directly attributable to the transaction	1,039
Loss before income taxes	(11,011		)
Income tax benefit	(282		)
Loss on disposal of discontinued operations, net of taxes	(10,729		)
Loss on disposal of discontinued operations, net of taxes, previously recognized	9,192
Loss on disposal of discontinued operations, net of tax, recognized in current period	$	(1,537	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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