Annual report pursuant to Section 13 and 15(d)

NOTE 15: - SEGMENT INFORMATION (Tables)

v3.6.0.2
NOTE 15: - SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following is information about reportable segment gains, losses and assets and are presented after the elimination of intra-segment revenues and expenses:

 
 
Training and
Simulation
Division
   
Power Systems
Division
   
Corporate
   
Total
Company
 
2016
                       
Revenues from outside customers
 
$
46,358,794
   
$
46,616,958
   
$
   
$
92,975,752
 
Depreciation and amortization expenses (1)
   
(1,113,001
)
   
(3,531,851
)
   
(19,732
)
   
(4,664,584
)
Direct expenses (2)
   
(37,637,110
)
   
(43,682,708
)
   
(6,712,241
)
   
(88,032,059
)
Segment income (loss)
   
7,608,683
     
(597,601
)
   
(6,731,973
)
   
279,109
 
Financial expense
   
(41,397
)
   
(87,371
)
   
(846,495
)
   
(975,263
)
Income tax (expense) benefit
   
24,634
     
28,507
     
(836,561
)
   
(783,420
)
Net income (loss)
 
$
7,591,920
   
$
(656,465
)
 
$
(8,415,029
)
 
$
(1,479,574
)
Segment assets (4)
 
$
43,740,316
   
$
58,955,828
   
$
6,444,053
   
$
109,140,197
 
Additions to long-lived assets
 
$
586,068
   
$
1,081,815
   
$
   
$
1,667,883
 
 
 
Training and
Simulation
Division
   
Power Systems
Division
   
Corporate
   
Total
Company
 
2015
                       
Revenues from outside customers
 
$
54,617,611
   
$
41,956,336
   
$
   
$
96,573,947
 
Depreciation and amortization expenses (1)
   
(912,930
)
   
(3,957,368
)
   
(25,220
)
   
(4,895,518
)
Direct expenses (2)
   
(44,711,979
)
   
(41,863,776
)
   
(4,840,578
)
   
(91,416,331
)
Segment income (loss)
   
8,992,702
     
(3,864,808
)
   
(4,865,798
)
   
262,098
 
Financial expense
   
(59,791
)
   
21,432
     
(1,113,762
)
   
(1,152,121
)
Income tax expense
   
(233,106
)
   
     
(927,840
)
   
(1,160,946
)
Net income (loss)
 
$
8,699,805
   
$
(3,843,376
)
 
$
(6,907,400
)
 
$
(2,050,969
)
Segment assets
 
$
57,433,489
   
$
59,498,304
   
$
492,922
   
$
117,424,715
 
Additions to long-lived assets
 
$
1,139,074
   
$
1,374,354
   
$
4,501
   
$
2,540,005
 
2014
 
Training and
Simulation
Division
   
Power Systems
Division
   
Corporate
   
Total
Company
 
 
                       
Revenues from outside customers
 
$
56,404,498
   
$
47,157,851
   
$
   
$
103,562,349
 
Depreciation and amortization expenses (1)
   
(756,939
)
   
(3,477,855
)
   
(20,452
)
   
(4,255,246
)
Direct expenses (2)
   
(45,313,956
)
   
(40,704,521
)
   
(6,874,118
)
   
(92,892,595
)
Segment income (loss)
   
10,333,603
     
2,975,475
     
(6,894,570
)
   
6,414,508
 
Financial expense
   
(50,975
)
   
(203,902
)
   
(1,252,612
)
   
(1,507,489
)
Income tax benefit (expense)
   
(133,692
)
   
61,777
     
(951,922
)
   
(1,023,837
)
Net income (loss)
 
$
10,148,936
   
$
2,833,350
   
$
(9,099,104
)
 
$
3,883,182
 
Segment assets
 
$
58,090,953
   
$
65,781,686
   
$
866,708
   
$
124,739,347
 
Additions to long-lived assets (3)
 
$
1,533,371
   
$
29,159,805
   
$
13,344
   
$
30,706,520
 
(1)          Includes depreciation of property and equipment and amortization expenses of intangible assets.
(2)          Including, inter alia, sales and marketing, general and administrative, research and development and other income.
(3)          Includes intangible assets associated with the acquisition of UEC.
(4)          Cash balances previously reported in the Training and Simulation Division in 2015 are reported in Corporate in 2016. 
Reconciliation of Revenue and Assets from Segments to Consolidated Table [Text Block]
The following discloses total revenues according to the locations of the Company’s end customers and long-lived assets as of and for the years ended December 31, 2016, 2015, and 2014:

 
 
2016
   
2015
   
2014
 
 
 
Total
revenues
   
Long-lived
Assets
   
Total
revenues
   
Long-lived
Assets
   
Total
revenues
   
Long-lived
assets
 
U.S.A.
 
$
72,645,752
   
$
49,883,172
   
$
77,715,872
   
$
52,938,660
   
$
83,739,406
   
$
55,970,370
 
Israel
   
13,944,078
     
8,308,931
     
14,114,688
     
8,299,367
     
11,428,427
     
7,755,163
 
Canada
   
2,435,134
     
     
587,516
     
     
651,846
     
 
Taiwan
   
690,080
     
     
     
     
     
 
Mexico
   
590,919
     
     
     
     
2,300
     
 
India
   
228,449
     
     
     
     
14,865
     
 
Japan
   
182,996
     
     
     
     
     
 
Germany
   
115,509
     
     
1,076,872
     
     
1,117,094
     
 
Australia
   
75,513
     
     
109,041
     
     
459,153
     
 
Korea
   
     
     
875,593
     
     
1,994,634
     
 
Saudi Arabia
   
     
     
548,837
     
     
2,469,988
     
 
China
   
     
     
154,803
     
     
305,800
     
 
U.A.E.
   
     
     
     
     
518,634
     
 
Hong Kong
   
     
     
     
     
48,331
     
 
Other
   
2,067,322
     
     
1,390,725
     
     
811,871
     
 
 
 
$
92,975,752
   
$
58,192,103
   
$
96,573,947
   
$
61,238,027
   
$
103,562,349
   
$
63,725,533
 
Revenue from External Customers by Products and Services [Table Text Block]
Revenues from major products:

 
 
Year ended December 31,
 
 
 
2016
   
2015
   
2014
 
Simulators
 
$
46,358,794
   
$
54,617,611
   
$
56,404,498
 
Batteries and charging systems
   
42,574,102
     
37,331,372
     
42,930,497
 
Water activated batteries
   
4,042,856
     
4,624,964
     
4,227,354
 
Total
 
$
92,975,752
   
$
96,573,947
   
$
103,562,349