Sale of Energy Systems Division | 9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2011 | |||
| Sale of Energy Systems Division [Abstract] | |||
| Sale of Energy Systems Division |
On October 1, 2009, the Company sold all significant assets of Applied Utility Systems, Inc. (“AUS”), which comprised the Company’s Energy Systems division, for up to $10.0 million, including $8.6 million in cash and contingent consideration of $1.4 million. Of the contingent consideration, $0.5 million was contingent upon AUS being awarded certain projects and $0.9 million is retention against certain project and contract warranties and other obligations. The Company has not recognized any of the contingent consideration as of September 30, 2011 and will only do so if the contingencies are resolved favorably. The $0.5 million of contingent consideration that was contingent on the award of certain projects was not earned and will not be paid. The loss, net of tax, of the Energy Systems division is presented as discontinued operations. There was no revenue included within discontinued operations for the nine months ended September 30, 2011 or 2010.
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