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BUSINESS COMBINATION AND INVESTMENT IN AN AFFILIATED COMPANY (Tables)

12 Months Ended

Dec. 31, 2015

BUSINESS COMBINATION AND INVESTMENT IN AN AFFILIATED COMPANY [Abstract]

Summary of fair value of assets acquired, liabilities assumed, intangible assets and resulting bargain purchase

Asset		Fair value
Cash and cash equivalents			1,164
Inventories			616
Other current assets			2,169
Property, plant and equipment			6,825
Identifiable intangible assets:
Customers relationships			1,342
Current liabilities			(2,857	)
Deferred Taxes			(271	)
Accrued severance pay			(15	)
Net Identifiable assets acquired			8,973
Gain from bargain purchase			(4,833	)
Total consideration (including contingent consideration in amount of $640)			4,140

Schedule of actual net sales and net income

		U.S. dollars in thousands
Actual Turbochrome results of operations included in the consolidated results of operations:
Revenue		1,905
Net loss attributable by Turbochrome		(163	)

Schedule of pro forma financial information

		Year ended December 31
		2015				2014
Revenue			92,230				87,598
Net income			801				1,463
Earnings per share :
Basic and Diluted			0.09				0.17

Schedule of Summarized Balance Sheets Financial Information for Equity Method Investment

		December 31,
		2014
Current assets		$	10,596
Long-term assets			8,927
Total assets			19,523
Current liabilities			5,964
Long-term liabilities			4,624
Total liabilities		$	10,588

Schedule of Summarized Statement of Operations Financial Information for Equity Method Investment

		Year ended December 31,
		2014				2013
Net sales		$	24,442			$	23,445
Gross profit			7,342				6,182
Income (loss) from continuing operations			827				(341	)
Net income			727				3,158
Income attributable to common stockholders		$	336			$	2,821

Reconciliation of the Share in Income (Loss), Impairment of Investment in FAvS and Gain from Dilution

		Year ended December 31,
		2014				2013
Share in income related to common stockholders		$	49			$	838
Share in income related to preferred stock			218				187
Net income		$	267			$	1,025

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Tabular disclosure of revenue and net earning of the acquiree since the acquisition date included in the consolidated income statement for the reporting period.

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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