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BUSINESS COMBINATION AND INVESTMENT IN AN AFFILIATED COMPANY (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Combinations [Abstract] |
Summary of fair value of assets acquired, liabilities assumed, intangible assets and resulting bargain purchase | The table below summarizes the fair value of assets acquired, liabilities assumed, intangible assets and resulting bargain purchase in Turbochrome –
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 | The actual Turbochrome Ltd. net sales and net income included in the Company's consolidated statements of operations and comprehensive income for the year ended December 31, 2015 (for the period from October 19, 2015 acquisition date through December 31 ,2015) are as follows:
|  | 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 Statement of Operations Financial Information for Equity Method Investment | Financial information
|  | Year ended December 31, |
|  | 2014 |
Net sales |  | $ | 24,442 |
Gross profit |  |  | 7,342 |
Income from continuing operations |  |  | 827 |
Net income |  |  | 727 |
Income attributable to common stockholders |  | $ | 336 |
Reconciliation of the Share in Income (Loss), Impairment of Investment in FAvS and Gain from Dilution | A reconciliation of the share in results of FAVS for the year ended December 31, 2014:
|  | Year ended December 31, |
|  | 2014 |
Share in income related to common stockholders |  | $ | 49 |
Share in income related to preferred stock |  |  | 218 |
Net income |  | $ | 267 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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