| The financial results of the discontinued operations are as follows: |
The
financial results of the discontinued operations are as follows:
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three
Months Ended June 30 |
|
Six
Months Ended June 30 |
| |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Sales |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
3,025,000 |
| Cost
of sales |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050,000 |
| Selling,
general and administrative expenses |
|
|
— |
|
|
— |
|
|
— |
|
|
500,000 |
| Restructuring
expenses |
|
|
— |
|
|
445,000 |
|
|
— |
|
|
764,000 |
| Gain
on sale of assets |
|
|
— |
|
|
122,000 |
|
|
— |
|
|
(2,039,000) |
| Operating
income before income taxes |
|
|
— |
|
|
(567,000) |
|
|
— |
|
|
1,750,000 |
| Income
tax expense |
|
|
— |
|
|
2,000 |
|
|
— |
|
|
5,000 |
| Income
from discontinued operations |
|
$ |
— |
|
$ |
(569,000) |
|
$ |
— |
|
$ |
1,745,000 |
|
The financial
results of the discontinued operations are as follows:
| |
|
|
|
|
|
|
|
|
| |
|
Year
Ended December 31 |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
| Sales |
|
$ |
3,024,000 |
|
|
$ |
18,879,000 |
|
| Cost of sales |
|
|
2,167,000 |
|
|
|
12,965,000 |
|
| Selling, general and administrative
expenses |
|
|
520,000 |
|
|
|
2,684,000 |
|
| Restructuring expenses |
|
|
960,000 |
|
|
|
— |
|
| (Gain) loss on sale of assets |
|
|
(2,247,000 |
) |
|
|
(2,990,000 |
) |
| Other income |
|
|
— |
|
|
|
— |
|
| Operating income before income
taxes |
|
|
1,624,000 |
|
|
|
6,220,000 |
|
| Income tax
expense |
|
|
— |
|
|
|
2,000 |
|
| Income
(loss) from discontinued operations |
|
$ |
1,624,000 |
|
|
$ |
6,218,000 |
|
|
| The assets and liabilities of this discontinued operation that are classified as held for sale are as follows: |
|
The assets
and liabilities of this discontinued operation that are classified as held for sale are as follows:
| |
|
|
December 31, 2020 |
|
|
|
December 31, 2019 |
|
| |
|
|
|
|
|
|
| Trade
accounts receivable |
|
$ |
— |
|
|
$ |
2,235,000 |
|
| Inventories |
|
|
— |
|
|
|
3,009,000 |
|
| Other
current assets |
|
|
— |
|
|
|
93,000 |
|
| Total
current assets |
|
$ |
— |
|
|
$ |
5,337,000 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Property,
plant, and equipment |
|
$ |
— |
|
|
$ |
883,000 |
|
| Total
noncurrent assets |
|
$ |
— |
|
|
$ |
883,000 |
|
| |
|
|
|
|
|
|
|
|
| Total
assets held for sale |
|
$ |
— |
|
|
$ |
6,220,000 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Accounts
payable |
|
$ |
— |
|
|
$ |
1,111,000 |
|
| Other
accrued liabilities |
|
|
— |
|
|
|
82,000 |
|
| Total
liabilities held for sale |
|
$ |
— |
|
|
$ |
1,193,000 |
|
|