DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of results and assets and liabilities of discontinued operations

The operations of TubeFit have been included in our consolidated statement of operations as discontinued operations. Results for discontinued operations for the year ended June 30, 2013 (in thousands):



	June 30, 2013
Net sales from discontinued operations	$	822
Operating loss from discontinued operations	$	(262	)
Other income (expense)	$	(144	)
Income tax benefit	$	132
Loss from discontinued operations	$	(274	)

The following assets and liabilities of TubeFit were segregated into Assets of discontinued operations and liabilities of discontinued operations as appropriate in the balance sheet for the years ended June 30, 2013 (in thousands):



	June 30, 2013
Accounts receivable, net	$	256
Prepaid/other current assets	6
Assets of discontinued operations	$	262

Accounts payable	$	6
Accrued expenses	1
Liabilities of discontinued operations	$	7

- 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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