Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations
3 Months Ended
Mar. 31, 2017
Discontinued Operations [Abstract]  
Discontinued Operations


As discussed above in Note 1, on October 7, 2015, the Company sold POC to Dainese.  The Company received $63,639 in cash for the POC Disposition and paid $2,946 in transaction fees for net proceeds of $60,693.  $739 of cash was sold as part of the transaction.  Also, as of December 31, 2015, there was an unsettled working capital adjustment of $921 owed to Dainese which was paid during the three months ended March 31, 2016.  The Company recognized a pre-tax gain on such sale of $8,436The Company performed certain transition services related to the POC Disposition in 2016 and received $245 during the three months ended March 31, 2016, which was recorded as a reduction of selling, general and administrative expenses in our condensed consolidated financial statements for such periods.