Discontinued Operations

6 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

DISCONTINUED OPERATIONS

During the third quarter of fiscal 2012, the Company made the decision to sell the CRM business, which was acquired in October 2011 as part of the acquisition of Daniels. The sale of the CRM business was completed on August 20, 2012. Additionally, during the fourth quarter of fiscal 2012, the Company made the decision to dispose of its sandwich business, including the Daily Bread^TM brand name, in the United Kingdom. The disposal of the sandwich business was completed on November 1, 2012. Operating results for the CRM business, which have been included in the Company’s consolidated financial statements for the period subsequent to the October 2011 acquisition, and the sandwich business have been classified as discontinued operations for all periods presented.

Summarized results of our discontinued operations are as follows:

	Three Months Ended December 31,						Six Months Ended December 31,
	2012			2011			2012			2011
Net sales	$	3,082		$	20,716		$	15,313		$	26,238
Operating loss	$	(729	)	$	(1,266	)	$	(1,176	)	$	(2,242	)
Loss on sale of business, net of tax	$	—		$	—		$	(3,086	)	$	—
Loss from discontinued operations, net of tax	$	(621	)	$	(1,043	)	$	(4,023	)	$	(1,992	)

The major classes of assets and liabilities of the CRM and sandwich businesses as of June 30, 2012 are presented in the following table. All assets and liabilities have been classified as current in the Condensed Consolidated Balance Sheets as the sales were expected to occur within the next twelve months at that date.

Accounts receivable and inventory	$	17,710
Other assets	4,089
Property, plant and equipment	6,850
Intangible assets	1,449
Total assets of businesses held for sale	$	30,098
Accounts payable and accrued expenses	$	12,012
Deferred taxes	1,324
Total liabilities of businesses held for sale	$	13,336