XML 45 R32.htm IDEA: XBRL DOCUMENT

DSIT Solutions, Ltd. ('DSIT') (Tables)

12 Months Ended

Dec. 31, 2016

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

	December 31, 2016		At the Closing Date		December 31, 2015
	(unaudited)		(unaudited)		(unaudited)
Current assets:
Cash and cash equivalents	$	1,047	$	516		7
Restricted deposits		2,648		2,517		2,172
Accounts receivable		2,825		5,166		5,826
Unbilled revenue		4,918		4,779		3,849
Inventory		481		297		230
Other current assets		795		935		698
Total current assets		12,714		14,210		12,782
Property and equipment, net		569		620		654
Severance assets		3,915		3,762		3,558
Restricted deposits		646		1,815		2,951
Due from Acorn		1,171		916		802
Goodwill		—		536		516
Other assets		339		80		124
Total assets	$	19,354	$	21,939		21,387

Current liabilities:
Short-term bank credit and current maturities of long-term bank debt	$	1,239	$	2,655		1,917
Accounts payable		1,461		2,072		1,869
Accrued payroll, payroll taxes and social benefits		1,142		1,286		1,261
Deferred revenue		431		2,219		3,487
Other current liabilities		2,736		1,615		1,417
Total current liabilities		7,009		9,847		9,951
Accrued severance		5,374		5,209		4,984
Other long-term liabilities		9		38		82
Total liabilities	$	12,392	$	15,094		15,017

DSIT Results Included in the Company's Consolidated Statements of Operations

DSIT’s results that were included in the Company’s Consolidated Statements of Operations for the period from January 1, 2016 until the closing of the DSIT Transaction and for the year ended December 31, 2015 can be seen below:

	January 1, 2016 – April 21, 2016			Year ended December 31, 2015
	(unaudited)			(unaudited)
Revenue	$	5,074		$	13,501
Cost of sales		3,443			9,125
Gross profit		1,631			4,376
Research and development expenses, net		469			1,191
Selling, general and administrative expenses		1,063			3,162
Operating income		99			23
Finance expense, net		(39	)		(112	)
Income before income taxes		60			(89	)
Income tax expense		(19	)		(259	)
Net income		41			(348	)
Net income attributable to non-controlling interests		(9	)		49
Net loss attributable to Acorn Energy Inc.	$	32		$	(299	)

DSIT’s results and the Company’s share of its net income for the period from the Closing Date to December 31, 2016 can be seen below:

		(unaudited)

Revenue	$	11,777
Cost of sales		7,795
Gross profit		3,982
Research and development expenses, net		642
Selling, general and administrative expenses		2,721
Operating income		619
Finance expense, net		(134	)
Income before income taxes		485
Income tax benefit		169
Net income	$	654
Acorn’s share of net income in DSIT	$	268