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Discontinued Operations
 6 Months Ended
Jun. 27, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

On September 28, 2013, the Company completed the sale of its Custom Envelope Group ("Custom Envelope"). The Company received total net cash proceeds of approximately $47.0 million, of which $2.2 million was received in 2014. This resulted in the recognition of a total after-tax gain of $16.5 million, of which $14.9 million was recognized in the year ended 2013. The operating results of Custom Envelope are reported in discontinued operations in the Company's financial statements for all periods presented herein.

During the second quarter of 2013, the Company decided to exit the San Francisco market and closed a manufacturing facility within its print segment. The operating results of this manufacturing facility are reported in discontinued operations in the Company's financial statements for all periods presented herein.

Collectively, the Company refers to these businesses as the "Discontinued Operations."

The following table shows the components of assets and liabilities that are classified as discontinued operations in the Company's condensed consolidated balance sheets as of June 27, 2015, and December 27, 2014 (in thousands):

 
 
June 27,
2015
 
December 27,
2014
Prepaid and other current assets
 
$
37

 
$
8

Assets of discontinued operations - current
 
37

 
8

Accrued compensation and related liabilities
 
104

 
70

Liabilities of discontinued operations - current
 
104

 
70

Net assets
 
$
(67
)
 
$
(62
)


The following table summarizes certain statement of operations information for discontinued operations (in thousands, except per share data):
 
 
For the Three Months Ended
 
For the Six Months Ended
 
 
June 27,
2015
 
June 28,
2014
 
June 27,
2015
 
June 28,
2014
Income (loss) from discontinued operations before income taxes
 
$
3

 
$
(82
)
 
$
(29
)
 
$
94

Income tax (benefit) expense on discontinued operations
 
(11
)
 
(32
)
 
(11
)
 
36

Gain on sale of discontinued operations (1)
 
—

 
714

 
—

 
1,559

Income (loss) from discontinued operations, net of taxes
 
$
14

 
$
664

 
$
(18
)
 
$
1,617

Income (loss) per share - basic
 
$
—

 
$
0.01

 
$
—

 
$
0.02

Income (loss) per share - diluted
 
$
—

 
$
0.01

 
$
—

 
$
0.02


 __________________________
(1)
The gain on the sale of discontinued operations is shown net of taxes of $0.5 million for the three months ended June 28, 2014 and $1.0 million for the six months ended June 28, 2014.