Investments in Foreign Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2014

Summary of Financial Information of Foreign Joint Ventures

Summary (unaudited) financial information of our foreign joint ventures in U.S. dollars was as follows at June 30, 2014 and December 31, 2013 and the three months and six months ended June 30, 2014 and 2013 (in thousands):

	BOMAY				MIEFE				AAG
	2014		2013		2014		2013		2014*		2013
Assets:
Total current assets	$	85,660	$	94,220	$	3,498	$	3,855	$	-	$	2,572
Total non-current assets		4,914		5,122		124		114		-		1,550
Total assets	$	90,574	$	99,342	$	3,622	$	3,969	$	-	$	4,122
Liabilities and equity:
Total liabilities	$	62,879	$	72,644	$	2,227	$	1,197	$	-	$	1,291
Total joint ventures’ equity		27,695		26,698		1,395		2,772		-		2,831
Total liabilities and equity	$	90,574	$	99,342	$	3,622	$	3,969	$	-	$	4,122

*As of April 30, 2014, the Company withdrew from the AAG Joint Venture.

	Three Months Ended June 30,
	BOMAY				MIEFE				AAG
	2014		2013		2014		2013		2014*		2013

Revenue	$	37,611	$	31,483	$	2,388	$	2,824	$	297	$	4,514
Gross Profit	$	4,524	$	3,309	$	760	$	805	$	44	$	1,876
Earnings	$	2,400	$	1,619	$	275	$	337	$	77	$	945

*Items represent the Joint Venture's final month of April 2014.

	Six Months Ended June 30,
	BOMAY				MIEFE				AAG
	2014		2013		2014		2013		2014*		2013

Revenue	$	57,214	$	64,992	$	3,212	$	5,491	$	1,078	$	7,999
Gross Profit	$	7,459	$	7,597	$	1,119	$	1,287	$	154	$	3,432
Earnings	$	3,771	$	4,120	$	181	$	386	$	4	$	1,837

Summary of Activity in AEIT's Investment in Foreign Joint Ventures

The following is a summary of activity in investments in foreign joint ventures for the six months ended June 30, 2014 (unaudited):

	June 30, 2014
	BOMAY**			MIEFE			AAG			TOTAL
	(in thousands)
Investments in foreign joint ventures:
Balance at December 31, 2013	$	10,609		$	1,138		$	1,286		$	13,033
Equity in earnings (loss) in 2014		1,508			74			2			1,584
Dividend distributions in 2014		(1,042	)		(650	)		(830	)		(2,522	)
Foreign currency translation adjustment		(86	)		(93	)		178			(1	)
Withdrawal from joint venture*	—			—				(636	)		(636	)
Investments, end of period	$	10,989		$	469		$	-		$	11,458

Components of investments in foreign joint ventures:
Investment in joint ventures	$	2,033		$	15		$	-		$	2,048
Undistributed earnings		7,611			294		—				7,905
Foreign currency translation		1,345			160		—				1,505
Investments, end of period	$	10,989		$	469		$	-		$	11,458