Gain on Sale of Product Line

12 Months Ended

May 31, 2011

Gain on Sale of Product Line

Gain on Sale of Product Line

13. Gain on Sale of Product Line

        During the fourth quarter of fiscal 2011, we sold substantially all of the assets of a non-strategic product line within our Maintenance, Repair and Overhaul segment. Proceeds from the sale were $10,000 cash paid at closing, and the net carrying value of the assets sold was $4,078, resulting in a pre-tax gain on sale of product line of $5,922. The gain on this transaction has been classified as a component of operating income in accordance with U.S. generally accepted accounting principles.