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DISCONTINUED OPERATION
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATION
NOTE 18 - DISCONTINUED OPERATION
 
In June 2020, the Company's management decided to discontinue the JT8D engine blades reconditioning activity as part of a strategic change in its business to focus on new capabilities to provide services to newer types of engines. The discontinued operation is related to the JT8D engine blades reconditioning activity in Turbochrome, which constitute a material portion of Turbochrome’s revenues.

 

   
2021
  
       
Revenue:
      
Services
  
$
440
  
         
Cost of revenue:
        
Services
    
429
  
         
Gross profit (loss)
    
11
  
         
Operating expenses:
        
Research and development, net
    
16
  
Selling and marketing
    
29
  
General and administrative
    
68
  
         
     
113
  
         
Operating income (loss)
    
(102
)
         
Financial expenses (income)
    
-
  
Income (loss) on disposal of discontinued operation (1)
    
529
  
         
Net Income (loss)
  
$
427
  
 
  (1)
During 2020, the Company wrote off total assets of $1.4 million. During 2021 the Company was succeeded to collect and sell some of the account receivable and inventory that were written off in total amount of $529. The final disposal of this activity was finalized in 2021.