Quarterly report pursuant to Section 13 or 15(d)

CHANGES IN BUSINESS (Tables)

v3.10.0.1
CHANGES IN BUSINESS (Tables)
6 Months Ended
Jun. 30, 2018
Discontinued operations, held-for-sale or disposed of by sale  
Schedule of Financial Information of Disposal Group

 

 

 

 

 

 

 

 

(in thousands)

  

June 30, 2018

 

December 31, 2017

Assets:

 

 

 

 

 

 

Accounts receivable

 

$

5,465

 

$

12,296

Inventories, net

 

 

483

 

 

178

Cost and estimated earnings in excess of billings

 

 

11,379

 

 

11,325

Other current assets

 

 

597

 

 

493

Property, plant and equipment, net

 

 

3,347

 

 

3,630

Current assets of discontinued operations*

 

$

21,271

 

$

27,922

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Accounts payable

 

$

8,927

 

$

7,004

Accrued compensation and benefits 

 

 

1,315

 

 

1,191

Billings in excess of costs and estimated earnings 

 

 

1,519

 

 

948

Accrued warranties

 

 

1,109

 

 

1,166

Other current liabilities

 

 

9,494

 

 

18,493

Current liabilities of discontinued operations

 

 

22,364

 

 

28,802

Liability for uncertain tax positions

 

 

2,406

 

 

3,110

Long-term liabilities of discontinued operations

 

 

2,406

 

 

3,110

Total liabilities of discontinued operations

 

$

24,770

 

$

31,912

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

(in thousands)

  

2018

  

2017

  

2018

  

2017

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Electrical Solutions

 

$

6,197

 

$

10,532

 

$

19,041

 

$

24,079

Mechanical Solutions

 

 

 —

 

 

17,901

 

 

 —

 

 

34,579

Total revenue

 

 

6,197

 

 

28,433

 

 

19,041

 

 

58,658

Cost of revenue

 

 

 

 

 

 

 

 

 

 

 

 

Electrical Solutions

 

 

6,868

 

 

12,560

 

 

20,323

 

 

27,730

Mechanical Solutions

 

 

 —

 

 

14,963

 

 

 —

 

 

28,493

Total cost of revenue

 

 

6,868

 

 

27,523

 

 

20,323

 

 

56,223

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling and marketing expenses

 

 

234

 

 

1,141

 

 

173

 

 

2,410

General and administrative expenses

 

 

1,223

 

 

4,124

 

 

2,366

 

 

8,463

Gain on disposal - Mechanical Solutions

 

 

115

 

 

 —

 

 

91

 

 

 —

Other

 

 

(48)

 

 

168

 

 

(9)

 

 

329

Income (loss) from discontinued operations before income taxes

 

 

(2,195)

 

 

(4,523)

 

 

(3,903)

 

 

(8,767)

Income tax expense (benefit)

 

 

(725)

 

 

241

 

 

(683)

 

 

1,220

Income (loss) from discontinued operations 

 

$

(1,470)

 

$

(4,764)

 

$

(3,220)

 

$

(9,987)

 

Services | Hetsco Inc. | Disposed of by sale  
Schedule of Financial Information of Disposal Group

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

(in thousands)

  

2018

  

2017

  

2018

  

2017

Income before income taxes

 

$

 —

 

$

 —

 

$

 —

 

$

489