Assets held for sale and discontinued operations

12 Months Ended

Dec. 31, 2011

Assets held for sale and discontinued operations [Abstract]

Assets held for sale and discontinued operations

Note 5: Assets held for sale and discontinued operations

Assets held for sale– Assets held for sale as of December 31, 2011 consisted of our facility located in Thorofare, New Jersey, which was closed in April 2009. Assets held for sale as of December 31, 2010 also included our facility located in Greensboro, North Carolina, which was closed in July 2009. Both facilities previously housed manufacturing operations, while the Thorofare location also housed a customer call center. The Greensboro facility was sold in January 2011 for net cash proceeds of $699, realizing a pre-tax gain of $110. During 2011, we recorded an asset impairment charge of $1,196 related to the Thorofare location, based on current market conditions and ongoing negotiations for the sale of the facility, and we continue to actively market the property.

Discontinued operations – Discontinued operations consisted of our retail packaging and signage business, which we sold on January 31, 2009 for gross cash proceeds of $250 plus a note receivable. The loss on disposal recorded in 2010 related to the finalization of purchase consideration. There were no discontinued operations in 2011.

Revenue and net loss from discontinued operations were as follows:

	2010			2009
Revenue	$	-		$	816
Loss from operations	$	-		$	(155	)
(Loss) gain on disposal		(1,244	)		155
Income tax benefit		473			-
Net loss from discontinued operations	$	(771	)	$	-