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Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Set forth below are the results of the discontinued operations: | Set forth below are the results of the discontinued operations:
(Dollars in thousands) |  | Three Months Ended March 31, 2022 |  |  | Three Months Ended March 31, 2021(*) |
Product revenue |  | $ | 1,640 |  |  | $ | 1,337 |
Cost of sales |  |  | 561 |  |  |  | 451 |
Research and development |  |  | 369 |  |  |  | 386 |
Selling, general, and administrative |  |  | 484 |  |  |  | 540 |
Net income (loss) from discontinued operations |  | $ | 226 |  |  | $ | (40 | )
(*) |  | Reclassified to conform with the current period presentation
The following table summarizes information about assets and liabilities from discontinued operations held for sale as of March 31, 2022 and December 31, 2021: | The following table summarizes information about assets and liabilities from discontinued operations held for sale as of March 31, 2022 and December 31, 2021:
(Dollars in thousands) |  |  |  |  |  |
|  | March 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Assets held for sale from discontinued operations: |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,001 |  |  | $ | 1,189 |
Inventories |  |  | 1,021 |  |  |  | 964 |
Prepaid expenses and other current assets |  |  | 40 |  |  |  | 54 |
Property, plant and equipment, net |  |  | 77 |  |  |  | 92 |
Deferred tax assets, net |  |  | 101 |  |  |  | 101 |
Operating lease right-of-use assets |  |  | 579 |  |  |  | 628 |
Total Assets held for sale from discontinued operations |  | $ | 2,819 |  |  | $ | 3,028 |
Liabilities held for sale from discontinued operations: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 191 |  |  | $ | 136 |
Accrued liabilities |  |  | 529 |  |  |  | 479 |
Operating lease liability |  |  | 578 |  |  |  | 628 |
Total Liabilities held for sale from discontinued operations |  | $ | 1,298 |  |  | $ | 1,243 |
MTI Instruments sells its products on a worldwide basis with its principal markets listed in the table below where information on product revenue is summarized by geographic area for the Company as a whole for each of the years ended December 31 | MTI Instruments sells its products on a worldwide basis with its principal markets listed in the table below where information on product revenue is summarized by geographic area for the Company as a whole for each of the years ended December 31:
(Dollars in thousands) |  | Three Months Ended March 31, 2022 |  |  | Three Months Ended March 31, 2021 |
Product revenue: |  |  |  |  |  |  |  |
United States |  | $ | 836 |  |  | $ | 909 |
Association of South East Asian Nations (ASEAN) |  |  | 743 |  |  |  | 242 |
Europe, the Middle East and Africa (EMEA) |  |  | 57 |  |  |  | 166 |
Americas (Canada, Mexico, South America) |  |  | 4 |  |  |  | 20 |
Total product revenue |  | $ | 1,640 |  |  | $ | 1,337 |

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