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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net sales $ 12,302 $ 13,430 $ 27,613 $ 29,278
Cost of sales 10,258 11,402 23,286 24,815
Gross profit 2,044 2,028 4,327 4,463
Operating expenses:        
Research and development 90 159 228 226
Selling and marketing 493 570 1,096 1,233
General and administrative 1,256 1,148 2,523 2,355
Total operating expenses 1,839 1,877 3,847 3,814
Income (loss) from consolidated continuing operations 205 151 480 649
Net equity income from foreign joint ventures’ operations:        
Equity income from foreign joint ventures’ operations 284 1,110 400 1,584
Foreign joint ventures’ operations related expenses (109) (178) (207) (290)
Net equity income from foreign joint ventures’ operations 175 932 193 1,294
Income (loss) from consolidated continuing operations and net equity income from foreign joint ventures’ operations 380 1,083 673 1,943
Other income (expense):        
Interest expense and other, net (45) (21) (64) (33)
Foreign transaction gain 134 0 134 0
Continuing operations income (loss) before income taxes 469 1,062 743 1,910
Provision for (benefit from) income taxes on continuing operations (78) 0 (78) 0
Net income (loss) from continuing operations 547 1,062 821 1,910
Discontinued operations income (loss) 0 (2,384) 0 (2,652)
Provision for income taxes on discontinued operations 0 0 0 0
Net income (loss) from discontinued operations 0 (2,384) 0 (2,652)
Net income (loss) before dividends on redeemable convertible preferred stock 547 (1,322) 821 (742)
Dividends on redeemable convertible preferred stock (87) (86) (174) (172)
Net income (loss) attributable to common stockholders $ 460 $ (1,408) $ 647 $ (914)
Earnings (loss) from continuing operations per common share:        
Basic $ 0.06 $ 0.12 $ 0.08 $ 0.21
Diluted $ 0.06 $ 0.11 $ 0.08 $ 0.20
Weighted - average number of common shares outstanding:        
Basic 8,250,833 8,176,808 8,235,901 8,115,214
Diluted 8,293,947 8,176,808 8,279,015 8,115,214
Loss per common share from discontinued operations:        
Basic and diluted $ 0 $ (0.29) $ 0 $ (0.32)
Total earnings (loss) per common share:        
Basic 0.06 (0.17) 0.08 (0.11)
Diluted $ 0.06 $ (0.17) $ 0.08 $ (0.11)
Continuing Operations        
Weighted - average number of common shares outstanding:        
Basic 8,250,833 8,176,808 8,235,901 8,115,214
Diluted 8,293,947 9,723,076 8,279,015 9,710,422