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Discontinued Operations - (Tables) | 9 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operations to the amounts presented separately in the Company's consolidated balance sheet:
| December 31, 2021
Accounts receivable, net | $ | 5,882 |
Inventories, net | 8,807 |
Prepaid expenses and other current assets | 1,152 |
Current assets held for sale | $ | 15,841 |
Property and equipment, net | 7,169 |
Non-current assets held for sale | $ | 7,169 |
Accounts payable | 1,764 |
Accrued compensation and employee-related expenses | 914 |
Accrued other | 955 |
Accrued product warranty costs | 95 |
Contract liabilities | 211 |
Current liabilities held for sale | $ | 3,939 |
Other long-term liabilities | 8 |
Non-current liabilities held for sale | $ | 8 |
Net assets held for sale | 19,063 |
The following table presents a reconciliation of the major financial line items constituting the results for discontinued operations to the net income from discontinued operations, net of tax, presented separately in the Company's consolidated statements of operations (through August 9, 2022, the date the inertial navigation business was sold):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Sales: |  |  |  |  |  |  |
Product | $ | 1,276 |  |  | $ | 8,388 |  |  | $ | 16,042 |  |  | $ | 29,152 |
Service | 218 |  |  | 208 |  |  | 679 |  |  | 837 |
Net sales | 1,494 |  |  | 8,596 |  |  | 16,721 |  |  | 29,989 |
Costs and expenses: |  |  |  |  |  |  |
Costs of product sales | 1,504 |  |  | 5,341 |  |  | 12,732 |  |  | 17,168 |
Costs of service sales | 169 |  |  | 173 |  |  | 457 |  |  | 750 |
Research and development | 374 |  |  | 1,507 |  |  | 3,147 |  |  | 5,137 |
Sales, marketing and support | 348 |  |  | 1,261 |  |  | 3,035 |  |  | 3,885 |
Other income, net | 12 |  |  | 34 |  |  | 81 |  |  | 101 |
(Loss) income from discontinued operations before income tax expense | (889) |  |  | 348 |  |  | (2,569) |  |  | 3,150 |
Gain on sale of discontinued operations before tax expense | 30,858 |  |  | — |  |  | 30,858 |  |  | — |
Total income from discontinued operations before tax expense | $ | 29,969 |  |  | $ | 348 |  |  | $ | 28,289 |  |  | $ | 3,150 |
Income tax expense on discontinued operations | 228 |  |  | — |  |  | 228 |  |  | — |
Net income from discontinued operations, net of tax | $ | 29,741 |  |  | $ | 348 |  |  | $ | 28,061 |  |  | $ | 3,150 |
Net income from discontinued operations per common share |  |  |  |  |  |  |
Basic | $ | 1.59 |  |  | $ | 0.02 |  |  | $ | 1.51 |  |  | $ | 0.17 |
Diluted | $ | 1.59 |  |  | $ | 0.02 |  |  | $ | 1.51 |  |  | $ | 0.17 |
Weighted average number of common shares outstanding: |  |  |  |  |  |  |
Basic | 18,706 |  |  | 18,341 |  |  | 18,574 |  |  | 18,152 |
Diluted | 18,706 |  |  | 18,566 |  |  | 18,574 |  |  | 18,152 |
The following table presents supplemental cash flow information of the discontinued operations:
| Nine Months Ended
| September 30,
| 2022 |  | 2021
Cash (used in) provided by operating activities-discontinued operations | $ | (3,853) |  |  | $ | 3,364 |
Cash used in investing activities-discontinued operations | $ | (307) |  |  | $ | (846) |
The following table presents non-cash expenses from discontinued operations:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Depreciation | $ | 269 |  |  | $ | 353 |  |  | $ | 805 |  |  | $ | 1,021 |
Compensation expense related to stock-based awards and employee stock purchase plan | $ | 380 |  |  | $ | 207 |  |  | $ | 580 |  |  | $ | 407 |

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