XML 32 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
Dsit Solutions, Ltd. ('DSIT') (Tables)
 6 Months Ended
Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets and Liabilities

Assets and liabilities related to the deconsolidated operations of DSIT are as follows:

 

    December 31, 2015     At the Closing Date  
Current assets:                
Cash and cash equivalents   $ 7     $ 516  
Restricted deposits     2,172       2,517  
Accounts receivable     5,826       5,166  
Unbilled revenue     3,849       4,779  
Inventory     230       297  
Other current assets     698       935  
Total current assets     12,782       14,210  
Property and equipment, net     654       620  
Severance assets     3,558       3,762  
Restricted deposits     2,951       1,815  
Due from Acorn     802       916  
Goodwill     516       536  
Other assets     124       80  
Total assets   $ 21,387     $ 21,939  
                 
Current liabilities:                
Short-term bank credit and current maturities of long-term bank debt   $ 1,917     $ 2,655  
Accounts payable     1,869       2,072  
Accrued payroll, payroll taxes and social benefits     1,261       1,286  
Deferred revenue     3,487       2,219  
Other current liabilities     1,417       1,615  
 Total current liabilities     9,951       9,847  
Accrued severance     4,894       5,209  
Other long-term liabilities     82       38  
Total liabilities   $ 15,017     $ 15,094  

 
Schedule of Condensed Consolidated Statements of Operations

DSIT’s results are included in the Company’s Condensed Consolidated Statements of Operations through the Closing Date and are presented below:

 

    January 1, 2015
to
June 30, 2015		     January 1, 2016 to the Closing Date     April 1, 2015 to
June 30, 2015		     April 1, 2016 to the Closing Date  
                         
Revenue   $ 6,452     $ 5,074     $ 3,415     $ 1,154  
Cost of sales     4,357       3,443       2,124       729  
Gross profit     2,095       1,631       1,291       425  
Research and development expenses, net     610       469       343       181  
Selling, general and administrative expenses     1,556       1,063       844       206  
Operating income (loss)     (71 )     99       104       38  
Finance expense, net     (61 )     (27 )     (61 )     (13 )
Income (loss) before income taxes     (132 )     72       43       25  
Income tax benefit (expense)     13       (19 )     20       (10 )
Net income (loss)     (119 )     53       63       15  
Net (income) loss attributable to non-controlling interests     17       (9 )     (3 )     (3 )
Net income (loss) attributable to Acorn Energy Inc.   $ (102 )   $ 44     $ 60     $ 12