Quarterly report pursuant to Section 13 or 15(d)

Assets Held for Sale, Discontinued Operations and Disposals (Tables)

v3.19.3.a.u2
Assets Held for Sale, Discontinued Operations and Disposals (Tables)
3 Months Ended
Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations

Operating results of our discontinued solar operations were as follows, in thousands:

 

 

 

Three Months Ended December 31,

 

 

 

2019

 

 

2018

 

Revenues, net of returns and allowances

 

$

5,287

 

 

$

6,228

 

Cost of sales

 

 

4,139

 

 

 

6,123

 

Gross profit

 

 

1,148

 

 

 

105

 

Selling, general and administrative

 

 

1,338

 

 

 

1,595

 

Research, development and engineering

 

 

449

 

 

 

1,080

 

Restructuring charges

 

 

 

 

 

10

 

Operating loss

 

 

(639

)

 

 

(2,580

)

Interest expense and other, net

 

 

(7

)

 

 

(22

)

Loss from discontinued operations

   before income taxes

 

 

(646

)

 

 

(2,602

)

Income tax provision

 

 

19

 

 

 

18

 

Net loss

 

$

(665

)

 

$

(2,620

)

The following table presents a summary of the solar assets and liabilities held for sale included in our Condensed Consolidated Balance Sheets, in thousands:

 

 

 

December 31,

2019

 

 

September 30,

2019

 

Assets

 

(Unaudited)

 

 

 

 

 

Total current assets

 

$

13,583

 

 

$

17,591

 

Property, plant and equipment - net

 

 

5,169

 

 

 

5,164

 

Total assets included in the disposal group

 

 

18,752

 

 

 

22,755

 

Total current liabilities

 

 

14,891

 

 

 

18,272

 

Long-term debt

 

 

277

 

 

 

275

 

Total liabilities included in the disposal group

 

 

15,168

 

 

 

18,547

 

Net assets included in the disposal group

 

$

3,584

 

 

$

4,208

 

The following table summarizes selected cash flow information for discontinued operations, in thousands:

 

 

 

Three Months Ended December 31,

 

 

 

2019

 

 

2018

 

Loss from discontinued operations, net

   of tax

 

$

(665

)

 

$

(2,620

)

Depreciation and amortization

 

$

135

 

 

$

146

 

Reversal of allowance for doubtful

   accounts, net

 

$

(66

)

 

$

(46

)

Purchases of property, plant and equipment

 

$

1

 

 

$

98