Annual report pursuant to Section 13 and 15(d)

Discontinued Operations

v2.4.1.9
Discontinued Operations
 12 Months Ended
Jan. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

3. Discontinued Operations

On May 4, 2012, we completed the sale of our broadcast servers and storage business and received a cash payment, net of certain adjustments, of $4.9 million and recorded a total gain in this transaction, net of tax in the amount of $1.5 million. The financial results from this divested business are included in discontinued operations in our consolidated statements of operations and comprehensive loss.

On May 21, 2012, we completed the sale of our media services business, ODG, to Avail Media, Inc. (“Avail”) for a purchase price of approximately $27 million plus certain working capital adjustments. We recorded a $15.5 million loss in our consolidated statements of operations and comprehensive loss from the sale of ODG, primarily arising from a related $17.0 million goodwill impairment charge that we recorded in the first quarter of fiscal 2013. The financial results from our former media services segment are included as discontinued operations in our consolidated statements of operations and comprehensive loss.

 

The following table details selected financial information for our former broadcast servers and storage and media services business units for the periods presented (amounts in thousands):

 

     For the Fiscal Year Ended
January 31, 2014 		    For the Fiscal Year Ended
January 31, 2013 		 
     Servers
and
Storage		      Media
Services		      Total
Discontinued
Operations		     Servers
and
Storage		      Media
Services		     Total
Discontinued
Operations		  

Revenues:

     

Products

    $ 46       $ —         $ 46      $ 1,031       $ —        $ 1,031   

Services

           —           —           —          835         9,315        10,150   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total revenues

 $ 46    $ —      $ 46    $ 1,866    $ 9,315    $ 11,181   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Income (loss) from discontinued operations:

Loss from discontinued operations, before tax

 $ (803 )  $ —      $ (803 )  $ (1,854 )  $ (194 )  $ (2,048 ) 

Income tax provision (benefit)

   —        —              —        84      (13 )    71   

Income in investment in affiliates

   —        —        —        —        (174 )    (174 ) 
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Loss from discontinued operations, after tax

 $ (803 )  $       —      $ (803 )  $ (1,938 )  $ (355 )  $ (2,293 )