Annual report pursuant to Section 13 and 15(d)

Discontinued Operations, Sale of Cold-EEZE?? Business (Tables)

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Discontinued Operations, Sale of Cold-EEZE® Business (Tables)
 12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Proceeds from Sale of Business

 The net proceeds received from the sale of the Cold-EEZE® Business were as follows (in thousands):

 

    Amount  
    (as restated)  
Gross consideration from the sale of the Cold-EEZE® Business   $ 50,000  
Closing and transaction costs     (4,175 )
Net proceeds from sale of the Cold-EEZE® Business     45,825  
Book value of assets sold     (13 )
Gain on sale of the Cold-EEZE® Business before income taxes     45,812  
Income tax expense     (3,511 )
Gain on sale of the Cold-EEZE® Business after income taxes   $ 42,301  
         
Net proceeds:        
Cash paid at closing, net of closing and transaction costs   $ 43,145  
Proceeds due on sale of assets, cash held in escrow     5,000  
    $ 48,145  

Schedule of Operating Results of Discontinued Operations

The following table sets forth the condensed operating results of our discontinued operations for Fiscal 2017, 2016 & 2015, respectively, (in thousands):

 

    Year Ended December 31,  
    2017     2016     2015  
Net sales   $ 4,687     $ 16,808     $ 18,087  
Cost of sales     2,036       7,738       6,741  
Sales and marketing     1,720       5,385       7,395  
Administration     350       2,329       4,719  
Research and development     51       218       738  
Income (loss) from discontinued operations   $ 530     $ 1,138     $ (1,506 )