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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Disaggregation of Revenue

The following table shows the Company's revenue disaggregated by product or service type for the three months ended March 31, 2020 and 2019:

			Three months ended March 31,
			(in thousands)
			2020						2019
Compressors - sales			$	852					$	2,708
Flares - sales			80						435
Other (parts/rebuilds) - sales			518						982
Service and maintenance			340						479
Total revenue from contracts with customers			1,790						4,604
Add: ASC 842 rental revenue			16,100						13,387
Total revenue			$	17,890					$	17,991

Schedule of Contract with Customer, Asset and Liability

As of March 31, 2020 and December 31, 2019, we had the following receivables and deferred income from contracts with customers:

			(in thousands)
			March 31, 2020						December 31, 2019
Accounts Receivable
Accounts receivable - contracts with customers			$	1,290					$	3,061
Accounts receivable - ASC 842			10,168						6,963
Total Accounts Receivable			$	11,458					$	10,024
Less: Allowance for doubtful accounts			(939)						(918)
Total Accounts Receivable, net			$	10,519					$	9,106
Deferred income			$	1,190					$	640

Schedules of Revisions of Prior Period Financial Statements

The following is a summary of the revisions to our unaudited, condensed consolidated financial statements for the three months ended March 31, 2019:

Revised Condensed Consolidated Statement of Operations

						For the three months ended March 31, 2019
($ in thousands)						As Reported						Revisions						As Revised
Total revenue						$	17,991					$	—					$	17,991
Operating costs and expenses:
Cost of rentals, exclusive of depreciation stated separately below						5,885						335						6,220
Depreciation and amortization						5,558						19						5,577
Total operating costs and expenses						17,782						354						18,136
Operating income (loss)						209						(354)						(145)
Income before provision for income taxes						510						(354)						156
Income tax (expense) benefit						(153)						95						(58)
Net income (loss)						357						(259)						98
Earnings (loss) per share, basic						0.03						(0.02)						0.01
Earnings (loss) per share, diluted						0.03						(0.02)						0.01

Revised Condensed Consolidated Statement of Stockholders' Equity

						For the three months ended March 31, 2019
($ in thousands)						As Reported						Revisions						As Revised
Retained earnings balance at January 1, 2019						$	152,291					$	(949)					$	151,342
Total stockholders' equity at January 1, 2019						260,181						(949)						259,232
Net income (loss)						357						(259)						98
Retained earnings balance at March 31, 2019						152,648						(1,208)						151,440
Total stockholders' equity at March 31, 2019						261,396						(1,208)						260,188

Revised Condensed Consolidated Statement of Cash Flows

						For the three months ended March 31, 2019
($ in thousands)						As Reported						Revisions						As Revised
Cash flows from operating activities:
Net income (loss)						$	357					$	(259)					$	98
Depreciation and amortization						5,558						19						5,577
Deferred taxes						157						(89)						68
Inventory (increase) decrease						(4,468)						482						(3,986)
Prepaid expenses and prepaid income taxes decrease (increase)						202						(53)						149
Net cash (used in) provided by operating activities						(3,846)						100						(3,746)
Cash flows from investing activities:
Purchase of rental equipment, property and other equipment						(9,130)						(100)						(9,230)
Net cash used in investing activities						(9,148)						(100)						(9,248)
Net change in cash and cash equivalents						(12,636)						—						(12,636)

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