|
10. Discontinued Operations
During the quarter ended June 30, 2011, management committed to a plan to sell certain assets and the operations of our Springbox unit, since it was deemed to not be part of our core business going forward. We anticipate completing a sale by June 30, 2012. As a result, the Springbox assets and operating results have been reclassified to discontinued operations in the accompanying consolidated balance sheets and statements of operations. The Springbox assets of discontinued operations are as follows (in thousands):
|
|
|
March 31, |
|
December 31, |
|
|
Assets |
|
2012 |
|
2011 |
|
|
Property and equipment, net |
|
$ |
350 |
|
$ |
350 |
|
|
Intangible assets, net |
|
416 |
|
416 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
766 |
|
$ |
766 |
|
Operating results of discontinued operations for the three months ended March 31, 2012 and 2011 are as follows (in thousands):
|
|
|
Three Months Ended
March 31, |
|
|
|
|
2012 |
|
2011 |
|
|
Revenues |
|
$ |
931 |
|
$ |
1,215 |
|
|
Cost of revenues |
|
1,000 |
|
1,106 |
|
|
Depreciation and amortization |
|
— |
|
186 |
|
|
Other operating expenses |
|
416 |
|
271 |
|
|
Loss before income taxes |
|
(485 |
) |
(348 |
) |
|
Benefit for income taxes |
|
194 |
|
139 |
|
|
|
|
|
|
|
|
|
Loss from discontinued operations |
|
$ |
(291 |
) |
$ |
(209 |
) | |