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Discontinued Operations | 12 Months Ended
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Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On July 6, 2015, the Company completed the sale of its Surface Inspection Systems Division (SISD) to AMETEK, Inc. (AMETEK) for $155,655,000 in cash. Transaction costs totaled $5,198,000 and included $1,106,000 of stock option expense from the accelerated vesting of stock options in connection with the sale. Carrying amounts of major assets and liabilities included as part of the disposal group were as follows (in thousands):
|  | December 31, 2014
Accounts receivable, net |  | $ | 10,885 |
Inventories, net |  | 6,313 |
Unbilled revenue |  | 2,356 |
Prepaid expenses and other current assets |  | 2,955 |
Property, plant, and equipment, net |  | 1,944 |
Goodwill |  | 4,301 |
Intangible assets, net |  | 1,029 |
Other assets |  | 31 |
Held for sale assets |  | $ | 29,814 |
Accounts payable |  | $ | 1,891 |
Accrued expenses |  | 4,335 |
Deferred revenue |  | 5,965 |
Held for sale liabilities |  | $ | 12,191 |
The financial results of SISD are reported as a discontinued operation for all periods presented. A pre-tax gain of $125,357,000 and associated income tax expense of $47,175,000 was recorded in "Net income from discontinued operations" on the Consolidated Statements of Operations. The major classes of revenue and expense included in discontinued operations were as follows (in thousands):
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Revenue |  | $ | 23,248 |  |  | $ | 59,821 |  |  | $ | 46,235 |
Cost of revenue |  | (11,291 | ) |  | (26,953 | ) |  | (21,191 | )
Research, development, and engineering expenses |  | (2,126 | ) |  | (4,089 | ) |  | (3,772 | )
Selling, general, and administrative expenses |  | (7,800 | ) |  | (12,968 | ) |  | (11,842 | )
Foreign currency loss |  | (177 | ) |  | (170 | ) |  | — |
Operating income from discontinued business |  | 1,854 |  |  | 15,641 |  |  | 9,430 |
Gain on sale of discontinued business |  | 125,357 |  |  | — |  |  | — |
Income from discontinued operations before income tax expense |  | 127,211 |  |  | 15,641 |  |  | 9,430 |
Income tax expense on discontinued operations |  | 47,801 |  |  | 4,997 |  |  | 3,040 |
Net income from discontinued operations |  | $ | 79,410 |  |  | $ | 10,644 |  |  | $ | 6,390 |
Significant non-cash items related to the discontinued business were as follows (in thousands):
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Stock-based compensation expense |  | $ | 1,533 |  |  | $ | 1,099 |  |  | $ | 837 |
Depreciation expense |  | 401 |  |  | 777 |  |  | 703 |
Amortization expense |  | 165 |  |  | 364 |  |  | 376 |
Capital expenditures |  | 482 |  |  | 631 |  |  | 749 |
The Company also entered into a Transition Services Agreement (TSA) with AMETEK to ensure an orderly and effective transition of SISD. Under the terms of the TSA, the Company agreed to continue to perform certain administrative activities related to SISD; however, AMETEK is responsible for monitoring the business and making all strategic decisions. Activities under this TSA were completed as of December 31, 2015. The income associated with this TSA was not material in 2015.

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- Definition Disclosure of accounting policy for discontinued operations. Includes, but is not limited to, method of interest allocation to a discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section S99 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26872618&loc=d3e7436-122677 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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