ASSETS HELD FOR SALE

9 Months Ended

Sep. 30, 2015

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE

NOTE 9—ASSETS HELD FOR SALE

In July 2015, the Company announced a restructuring plan which included the closure of its Malaysia facility effective August 2, 2015. Subsequent to the announcement, the Company has engaged advisors and is actively trying to sell its land-use right, building and other fixed assets located at the facility.

In accordance with ASC 360-Property, Plant and Equipment, the Company assessed the asset group attributed to the sale for impairment. Based upon the Company’s assessment of the status of the Malaysian property, plant and equipment, all of requirements (including the held for sale requirements) set forth in ASC 360-10-45-9 were met and the assets were reclassified on the condensed consolidated balance sheet as of September 30, 2015 and classified as Assets Held for Sale. As a result of this analysis, a loss on reclassification of $722 was recorded in the Company’s condensed consolidated statement of comprehensive loss.