Discontinued Operations Financial Statement Impact |
The following table presents revenue, (expenses), gains, and (losses) attributable to discontinued operations:
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Three months ended June 30, |
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Six months ended June 30, |
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2015 |
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2014 |
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2015 |
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2014 |
Major line items constituting income (loss) of discontinued operations: |
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Total revenue |
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$ |
3,617 |
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$ |
4,577 |
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$ |
6,849 |
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$ |
9,217 |
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Cost of revenue |
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(3,599 |
) |
|
(4,180 |
) |
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(6,830 |
) |
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(8,140 |
) |
Research and development |
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(422 |
) |
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— |
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|
(853 |
) |
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— |
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Selling, general and administrative |
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(198 |
) |
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— |
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(221 |
) |
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— |
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Gain on insurance recovery |
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— |
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|
165 |
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— |
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|
165 |
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Severance and exit costs (Note 13) |
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(1,053 |
) |
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— |
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(1,053 |
) |
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— |
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Impairment charge from classification of assets as held for sale |
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(1,350 |
) |
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— |
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(1,350 |
) |
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— |
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Income (loss) from discontinued operations |
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$ |
(3,005 |
) |
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$ |
562 |
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$ |
(3,458 |
) |
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$ |
1,242 |
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The following table presents depreciation, capital expenditures, and significant operating and investing non-cash items related to the discontinued operations:
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Six months ended June 30, |
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2015 |
|
2014 |
Depreciation expense |
$ |
391 |
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$ |
562 |
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Purchases of property and equipment |
(527 |
) |
|
(323 |
) |
Stock-based compensation |
101 |
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|
50 |
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Changes in deferred rent |
(122 |
) |
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(56 |
) |
Equipment purchases in accounts payable and accrued expenses |
20 |
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|
6 |
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The following table presents a reconciliation of the carrying amounts of assets and liabilities of the Services Business to assets held for sale, net in the balance sheets:
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June 30, 2015 |
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December 31, 2014 |
Carrying amounts of assets included as part of discontinued operations: |
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Accounts and unbilled receivables, net |
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$ |
1,715 |
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$ |
1,501 |
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Prepaid expenses and other current assets |
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761 |
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|
289 |
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Property and equipment, net |
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4,901 |
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|
4,835 |
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Other assets |
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59 |
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|
76 |
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Disposal loss recognized on classification as held for sale |
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(1,350 |
) |
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— |
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Assets held for sale, net |
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$ |
6,086 |
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$ |
6,701 |
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Carrying amounts of liabilities included as part of discontinued operations: |
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Accounts payable and accrued expenses |
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$ |
546 |
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$ |
681 |
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Deferred revenue |
|
381 |
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|
445 |
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Deferred rent |
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1,172 |
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|
1,294 |
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Liabilities related to assets held for sale |
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$ |
2,099 |
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$ |
2,420 |
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