DISCONTINUED OPERATIONS

3 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3    DISCONTINUED OPERATIONS

On June 21, 2012, the Company determined to exit its global Retail business and focus solely on growing its OEM business.  The decision to eliminate the Retail division was primarily driven by the longer than estimated path to bring it to profitability and the strong top line growth and cost rationalizations in the OEM business.  

Accordingly, the results of operations for the Retail division have been recorded as discontinued operations in the accompanying consolidated financial statements for the fiscal periods presented. Summarized operating results of discontinued operations are presented in the following table:

	For the Three-Month Periods Ended December 31,
	2012	2011
Net sales.........................................................................................................	$384,196	$721,229
Gross profit ...................................................................................................	152,108	186,225
Operating expenses......................................................................................	(193,829)	(1,203,060)
Other income (expense)...............................................................................	221	(21,630)
Loss from discontinued operations, net of tax of $920 and $1,859, respectively...............................................................................................	$(42,420)	$(1,040,324)

Summarized assets and liabilities of discontinued operations are presented in the following table:

	December 31,	September 30,
	2012	2012
Accounts receivable, net................................................................	$274,437	$26,186
Inventories, net................................................................................	213,181	350,942
Prepaid assets and other current assets.......................................	83,557	244,751
Total assets of discontinued operations..............................	$571,175	$621,879
Accounts payable...........................................................................	$26,780	$45,874
Accrued liabilities	42,642	215,932
Total liabilities of discontinued operations.......................	$69,422	$261,806

The Company expects to complete its exit of its Retail business within the second quarter of its 2013 fiscal year and expects to incur a loss from discontinued operations of approximately $0.1 million in the period. The Company does not expect to have any continuing involvement in the Retail business after this date.