Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v2.4.0.6
Discontinued Operations
 6 Months Ended
Feb. 29, 2012
Discontinued Operations [Abstract]  
Discontinued Operations

Note 3. Discontinued Operations

In the second quarter of fiscal 2011, the Company completed the sale of the European Electrical business for total cash proceeds of $3.5 million, net of transaction costs. As a result of the sale transaction, the Company recognized a pre-tax loss on disposal of $15.8 million. The following table summarizes the results of the European Electrical business, which has been reported as discontinued operations (in thousands):

 

    Three Months Ended
February 28, 2011		     Six Months Ended
February 28, 2011		  

Net sales

   $ 24,004      $ 49,305   

Loss on disposal of business

     (13,742 )      (13,742 ) 

Loss from operations of divested business

     (471 )      (1,158 ) 

Income tax expense

     —          (84 ) 
 

 

 

    

 

 

  

Loss from discontinued operations, net of income taxes

   $ (14,213 )    $ (14,984 )