Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS

v2.4.0.6
DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2011
DISCONTINUED OPERATIONS  
DISCONTINUED OPERATIONS

NOTE 2: DISCONTINUED OPERATIONS

 

During 2010, the Company ceased its operations in Brazil as a result of declining sales and increased regulatory restrictions, which made it difficult for the Company to register and sell key products in that market. This market was part of the Company’s NSP International segment.

 

The following table summarizes the operating results of the Company’s discontinued operations for the years:

 

 

 

2011

 

2010

 

2009

 

Net sales revenue

 

$

—

 

$

682

 

$

912

 

 

 

 

 

 

 

 

 

Loss before income tax provision

 

$

—

 

$

(9,702

)

$

(439

)

Income tax provision

 

—

 

—

 

—

 

Loss from discontinued operations

 

$

—

 

$

(9,702

)

$

(439

)

 

The loss before income taxes for the year ended December 31, 2010, includes a charge of $8,236 related to exiting Brazil, of which $7,364 was a non-cash write-off of accumulated translation adjustments that were previously included in shareholders’ equity.

 

The cash flows from our discontinued operations are included in the Company’s operating cash flow, but were insignificant.