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Investment in Dsit Solutions, Ltd. ('DSIT') (Tables)
 3 Months Ended
Mar. 31, 2017
Investment In Dsit Solutions Ltd. Dsit  
DSIT Results For The Three Months Ended March 31, 2017 and 2016

DSIT’s results and the Company’s share of its net income for the three months ended March 31, 2017 can be seen below:

 

    Three months ending
March 31, 2017		  
       
Revenue   $ 4,061  
Cost of sales     2,766  
Gross profit     1,295  
Research and development expenses, net     243  
Selling, general and administrative expenses     953  
Operating income     99  
Finance income, net     8  
Income before income taxes     107  
Income tax expense     (21 )
Net income   $ 86  
         
Acorn’s share of net income in DSIT   $ 36  

 

DSIT’s results that were included in the Company’s Condensed Consolidated Statements of Operations in the three month period ending March 31, 2016 can be seen below:

 

    Three months ending
March 31, 2016		  
       
Revenue   $ 3,920  
Cost of sales     2,714  
Gross profit     1,206  
Research and development expenses, net     288  
Selling, general and administrative expenses     857  
Operating income     61  
Finance expense, net     (14 )
Income before income taxes     47  
Income tax expense     (8 )
Net income     39  
Net income attributable to non-controlling interests     (6 )
Net income attributable to Acorn Energy Inc.   $ 33

Schedule of Assets and Liabilities

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

 

    March 31, 2017     December 31, 2016  
Current assets:                
Cash and cash equivalents   $ 3,484     $ 1,047  
Restricted deposits     984       2,648  
Accounts receivable, net     2,172       2,825  
Unbilled revenue     4,043       4,918  
Inventory     386       481  
Other current assets     938       795  
Total current assets     12,007       12,714  
Property and equipment, net     609       569  
Severance assets     4,256       3,915  
Restricted deposits     65       646  
Due from Acorn     1,241       1,171  
Other assets     287       339  
Total assets   $ 18,465     $ 19,354  
                 
Current liabilities:                
Short-term bank credit and current maturities of long-term bank debt   $ 546     $ 1,239  
Accounts payable     1,201       1,461  
Accrued payroll, payroll taxes and social benefits     1,261       1,142  
Deferred revenue     361       431  
Other current liabilities     2,223       2,736  
Total current liabilities     5,592       7,009  
Accrued severance     5,810       5,374  
Other non-current liabilities     16       9  
Total liabilities   $ 11,418     $ 12,392