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  
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     (18,838 )
Gain on sale of the Cold-EEZE® Business after income taxes   $ 26,974  
         
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,

 

    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 )