Discontinued Operations

12 Months Ended

Dec. 29, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The Company accounts for discontinued operations in accordance with ASC 205, "Discontinued Operations" ("ASC 205"), which allows a component of an entity that can be clearly distinguished operationally from the rest of an entity to be reported in discontinued operations, provided that the operations and cash flows of the component have been or will be eliminated and the entity will not have any significant continuing involvement in the component after the disposal.

The components of discontinued operations are as follows:

In thousands	Successor					Predecessor
	Fiscal Year Ended December 29, 2012		Eleven Months Ended December 31, 2011			One Month Ended January 28, 2011			Fiscal Year Ended January 1, 2011
Revenues	$	—	$	27,221		$	4,060		$	39,194
Pre-tax earnings (loss) from operations	—		(6,105		)	320			(473		)
Pre-tax gain (loss) on sale	—		(735		)	—			—
Tax (provision) benefit	—		557			(138		)	(292		)
Discontinued operations, net	$	—	$	(6,283	)	$	182		$	(765	)

On April 29, 2011, the Company entered into an agreement to sell certain assets and the working capital of Difco Performance Fibers, Inc. ("Difco") for cash proceeds of $10.9 million. The agreement provided that Difco would continue to produce goods during the three month manufacturing transition services agreement that expired in the third quarter of 2011. The sale was completed on May 10, 2011 and resulted in a loss of $0.7 million recognized during the eleven months ended December 31, 2011.