Discontinued Operations (Tables)

6 Months Ended

Jan. 01, 2017

Schedule of discontinued operations results

Financial information for discontinued operations for the three and six months ended January 1, 2017 and December 27, 2015 is as follows (in thousands):

	For the three months ended				For the six months ended
	January 1, 2017		December 27, 2015		January 1, 2017		December 27, 2015
Sales	$	—	$	1,191	$	1,277	$	2,049
Cost of sales		—		(688)		(943)		(1,166)
Gross profit		—		503		334		883
Selling, general and administrative		—		(198)		(242)		(405)
Income from discontinued operations, before income taxes		—		305		92		478
Gain on sale of discontinued operations		(255)		—		5,388		—
Total income from discontinued operations, before income taxes		(255)		305		5,480		478
Income tax expense on discontinued operations		(235)		—		(1,783)		—
Income from discontinued operations, net of tax	$	(490)	$	305	$	3,697	$	478

Discontinued Operations, Disposed of by Sale

Schedule of gain on sale of discontinued operations

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

Gross proceeds	$	10,538
Less:
Property and equipment, net		218
Accounts receivable		918
Inventory		1,268
Other current assets		54
Accounts payable and accrued expenses		(936)
Working capital adjustment		(184)
Total net assets disposed		1,338
Goodwill		3,374
Transaction costs		393
Minority interests		(393)
Payments to minority stakeholders		438
Gain on sale of discontinued operations, before income taxes	$	5,388

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