DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2012

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

4. DISCONTINUED OPERATIONS

PGiSend

On October 21, 2010, we completed the sale of our PGiSend messaging business to EasyLink Services International Corporation, or EasyLink, for an aggregate purchase price of $105.0 million, with a working capital target that was finalized in the first quarter of 2011, resulting in an additional payment from EasyLink of $1.8 million.

Maritime Notification and Reminder Solutions

During the year ended December 31, 2010, we classified our Maritime Notification and Reminder solutions operations as a disposal group held for sale. This disposal group consisted of all customers using these non-conferencing, ship-to-shore communication services targeted specifically towards shipping vessels that we resell through our Japanese subsidiary. As of December 31, 2011, this disposal was completed, and no assets or liabilities of the disposal group remain.

PGiMarket

On November 5, 2009, we completed the sale of our PGiMarket business. During the six months ended June 30, 2011, we received $0.7 million in cash for the achievement of certain revenue targets in 2010 under an earn-out provision in the sale agreement.

Components of Discontinued Operations

The following amounts associated with our discontinued businesses have been segregated from continuing operations and are reflected as discontinued operations for the three and six months ended June 30, 2012 and 2011 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Net revenue from discontinued operations	$	-		$	3,595		$	-		$	7,560
Operating (loss) income		(292	)		64			(322	)		54
Interest expense		(48	)		-			(96	)		(61	)
(Loss) income from disposal		(8	)		-			(2	)		18
Income tax benefit (expense)		122			(28	)		147			(6	)
(Loss) income from discontinued operations, net of taxes	$	(226	)	$	36		$	(273	)	$	5