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DISCONTINUED OPERATIONS
6 Months Ended
Jun. 30, 2011
DISCONTINUED OPERATIONS  
DISCONTINUED OPERATIONS

10.  DISCONTINUED OPERATIONS

 

During the second quarter ended June 30, 2011, management committed to a plan to sell certain assets and the operations of our Springbox unit since it was not deemed to be part of our core business going forward.  We anticipate completing a sale within the next 12 months.  As a result, those assets and the Springbox operating results have been reclassified to discontinued operations in the accompanying consolidated balance sheets and statements of income.  The underlying assets of discontinued operations are as follows (in thousands):

 

 

 

June 30,

 

December 31,

 

Assets

 

2011

 

2010

 

Property and equipment, net

 

$

409

 

$

81

 

Intangible assets, net

 

2,337

 

2,578

 

 

 

 

 

 

 

Total

 

$

2,746

 

$

2,659

 

 

Operating results of discontinued operations for the three and six months ended June 30, 2011 and 2010 are as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Revenues

 

$

1,032

 

$

2,106

 

$

2,247

 

$

3,977

 

Cost of revenues

 

1,092

 

1,403

 

2,199

 

2,632

 

Depreciation and amortization

 

188

 

187

 

374

 

373

 

Other operating expenses

 

227

 

233

 

497

 

415

 

Income (loss) before income taxes

 

(475

)

283

 

(823

)

557

 

Provision (benefit) for income taxes

 

(190

)

113

 

(329

)

223

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

$

(285

)

$

170

 

$

(494

)

$

334