Discontinued Operations (Tables)

3 Months Ended

Oct. 02, 2016

Schedule of discontinued operations results

Financial information for discontinued operations for the three months ended October 2, 2016 and September 27, 2015 is as follows (in thousands):

	For the three months ended
	October 2, 2016		September 27, 2015
Sales	$	1,277	$	858
Cost of sales		(943)		(478)
Gross profit		334		380
Selling, general and administrative		(242)		(207)
Income from discontinued operations, before income taxes		92		173
Gain on sale of discontinued operations		5,643		—
Total income from discontinued operations, before income taxes		5,735		173
Income tax expense on discontinued operations		(1,548)		—
Income from discontinued operations, net of tax	$	4,187	$	173

Discontinued Operations, Disposed of by Sale

Schedule of assets and liabilities classified and disposed

Below is a summary of the gain on sale of discontinued operations (in thousands):

Gross proceeds	$	10,500
Less:
Property and equipment, net		218
Accounts receivable		930
Inventory		1,265
Other current assets		51
Accounts payable and accrued expenses		(962)
Total net assets disposed		1,502
Goodwill		3,374
Transaction costs		374
Minority interests		(393)
Gain on sale of discontinued operations, before income taxes	$	5,643

Discontinued Operations, Held-for-sale

Schedule of assets and liabilities classified and disposed

The following table presents the carrying amount as of June 30, 2016, of the major classes of assets and liabilities held for sale in the condensed consolidated balance sheet (in thousands):

	June 30, 2016
Current assets:
Accounts receivable	$	727
Inventory		1,028
Other assets		63
Total current assets		1,818
Property and equipment, net		153
Goodwill		3,374
Total assets of discontinued operations	$	5,345
Current liabilities:
Accounts payable and accrued expenses	$	714
Capital lease obligations		9
Total current liabilities		723
Capital lease obligations		19
Total liabilities of discontinued operations	$	742