Question-and-Answer Session
Operator
(Operator instructions) We'll take our first question with Jinsong Du with Credit Suisse. Please go ahead.
Jinsong Du – Credit Suisse
Hi. Congratulations for the quarter.
Larry Saper
Thank you.
Jinsong Du – Credit Suisse
Just like to understand for the discontinued operations, could you explain a little bit detail on the reasons for a sharp decline in the net profits from the discontinued operations from one year ago, in the first three months and also in the last quarter.
Hank Scaramelli
Well, I can provide a few comments. I think as we all know, the gross margins are a little light. We did have a – an acceleration of stock options that we had to expense because of the sale to Mindray, and we also had a receivable that was written off for about $400,000 or $500,000. Those two items definitely impacted their earnings by approximately $0.04 in the quarter.
Jinsong Du – Credit Suisse
Does that mean that the sale was especially not kind of – the sales did not decline?
Hank Scaramelli
No, the sales grew 9%. Systems, I believe, were up 22% but their bedside monitors were down about 7% or 8% in the quarter.
Larry Saper
This is Larry Saper. Basically, really the comparison in earnings has little to do with the fundamentals in the business. Momentum in that business continues.
Jinsong Du – Credit Suisse
All right. Thank you.
Operator
We'll take our next question with Greg Brash with Sidoti & Co. Please go ahead.
Greg Brash – Sidoti & Co.
Good afternoon, guys. Thanks for taking my call.
Larry Saper
Thank you.
Greg Brash – Sidoti & Co.
You mentioned on the last call that you were considering issuing guidance going forward. Is that something you are still considering maybe after you report the fourth quarter?
Larry Saper
Yes. And we haven't – we've made no decision on that. As I indicated that before that in the coming months we'll be looking at that and at some point we'll make a decision about giving guidance.
Greg Brash – Sidoti & Co.
Okay. And is there any way you could give us a little more insight on which way you are leaning on how to handle the cash from the sale of Patient Monitoring, either through a dividend or a buyback?
Larry Saper
No, there's nothing that I as an individual – I am simply the Chairman of the Board, but I am not the entire board and only the entire Board will make such a judgment. There's a meeting coming up later this month. My expectation is that some opinions will be considered [ph] and there may well be a decision by the Board at that time. But we'll only know after that Board meeting.
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