Annual report pursuant to Section 13 and 15(d)

Subsequent Events

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Subsequent Events
12 Months Ended
Jan. 31, 2012
Subsequent Events

18. Subsequent Events

 

During the fourth quarter of fiscal 2012, we initiated the sale of the broadcast servers and storage business unit. On March 21, 2012, we entered into an asset sale agreement to sell a portion of our broadcast servers and storage business unit to a company located in China. As such we have reflected the results of the associated sale as discontinued operations in our financial statements.

 

The following table details selected financial information for the former Servers and Storage business unit:

 

    Fiscal Year ended January 31,  
    2012     2011     2010  
Revenues:   (in thousands)  
                   
Products   $ 6,159     $ 9,524     $ 4,936  
Services     5,720       5,516       6,789  
Total revenues   $ 11,879     $ 15,040     $ 11,725  
Loss from discontinued operations                        
Loss from discontinued operations, before tax   $ 2,630     $ 2,072     $ 5,690  
Income tax expense     (100 )     (100 )     (100 )
Loss from discontinued operations, after tax   $ 2,730     $ 2,172     $ 5,790  

 

The major classes of assets and liabilities related to discontinued operations are as follows:

 

    January 31,     January 31,  
    2012     2011  
Assets   (in thousands)  
Current assets:                
Inventories, net   $ 2,940     $ 3,352  
Prepaid expenses and other current assets     170       192  
Current assets related to discontinued operations     3,110       3,544  
Non current assets:                
Goodwill     594       594  
Other assets     108       108  
Property and equipment, net     1,597       1,523  
Non-current assets related to discontinued operations   $ 2,299     $ 2,225  
                 
Liabilities                
Deferred revenues   $ 2,779     $ 3,226  
Current liabilities related to discontinued operations   $ 2,779     $ 3,226