Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION (Tables)

v3.10.0.1
SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following is information about reported segment revenues, income (losses) from operations, and total assets as of September 30, 2018 and 2017:
 
Training and
Simulation
Division
 
Power Systems
Division
 
Corporate
Expenses
 
Total
Company
Nine months ended September 30, 2018
 
 
 
 
 
 
 
Revenues from outside customers
$
43,576,153

 
$
29,391,443

 
$

 
$
72,967,596

Depreciation and amortization(1)
(605,195
)
 
(2,159,094
)
 

 
(2,764,289
)
Direct expenses(2)
(34,347,504
)
 
(30,102,162
)
 
(2,987,017
)
 
(67,436,683
)
Segment operating income (loss)
$
8,623,454

 
$
(2,869,813
)
 
$
(2,987,017
)
 
$
2,766,624

Financial expense
(182,524
)
 
10,148

 
(523,856
)
 
(696,232
)
Income tax expense
(144,221
)
 

 
(506,544
)
 
(650,765
)
Net income (loss)
$
8,296,709

 
$
(2,859,665
)
 
$
(4,017,417
)
 
$
1,419,627

Segment assets(3)
$
54,996,173

 
$
57,639,253

 
$
3,116,700

 
$
115,752,126

Additions to long-lived assets
$
965,651

 
$
782,556

 
$

 
$
1,748,207

Nine months ended September 30, 2017
 
 
 
 
 
 
 
Revenues from outside customers
$
35,139,969

 
$
34,586,610

 
$

 
$
69,726,579

Depreciation and amortization(1)
(772,736
)
 
(2,230,750
)
 
(3,455
)
 
(3,006,941
)
Direct expenses(2)
(29,723,546
)
 
(33,425,392
)
 
(2,649,455
)
 
(65,798,393
)
Segment operating income (loss)
$
4,643,687

 
$
(1,069,532
)
 
$
(2,652,910
)
 
$
921,245

Financial expense
(77,975
)
 
(170,381
)
 
(501,611
)
 
(749,967
)
Income tax benefit (expense)
(105,000
)
 
44,913

 
(685,908
)
 
(745,995
)
Net income (loss)
$
4,460,712

 
$
(1,195,000
)
 
$
(3,840,429
)
 
$
(574,717
)
Segment assets(3)
$
48,550,296

 
$
57,675,628

 
$
3,314,767

 
$
109,540,691

Additions to long-lived assets
$
2,454,099

 
$
1,410,393

 
$

 
$
3,864,492

Three months ended September 30, 2018
 
 
 
 
 
 
 
Revenues from outside customers
$
14,665,902

 
$
9,178,575

 
$

 
$
23,844,477

Depreciation and amortization(1)
(208,055
)
 
(688,935
)
 

 
(896,990
)
Direct expenses(2)
(11,509,826
)
 
(9,173,877
)
 
(1,122,503
)
 
(21,806,206
)
Segment operating income (loss)
$
2,948,021

 
$
(684,237
)
 
$
(1,122,503
)
 
$
1,141,281

Financial expense
(43,545
)
 
13,540

 
(143,340
)
 
(173,345
)
Income tax expense
(82,670
)
 

 
(144,710
)
 
(227,380
)
Net income (loss)
$
2,821,806

 
$
(670,697
)
 
$
(1,410,553
)
 
$
740,556

Three months ended September 30, 2017
 
 
 
 
 
 
 
Revenues from outside customers
$
14,596,967

 
$
11,333,474

 
$

 
$
25,930,441

Depreciation, amortization and impairment expenses(1)
(224,611
)
 
(698,939
)
 
(1,183
)
 
(924,733
)
Direct expenses(2)
(11,672,943
)
 
(11,269,961
)
 
(810,428
)
 
(23,753,332
)
Segment operating income (loss)
$
2,699,413

 
$
(635,429
)
 
$
(811,611
)
 
$
1,252,376

Financial expense
(40,706
)
 
7,367

 
(167,584
)
 
(200,923
)
Income tax expense
(35,000
)
 
401

 
(228,636
)
 
(263,235
)
Net income (loss)
$
2,623,707

 
$
(627,658
)
 
$
(1,207,831
)
 
$
788,218

(1)
Includes depreciation of property and equipment and amortization expenses of intangible assets.
(2)
Including, inter alia, sales and marketing, general and administrative.
(3)
Out of those amounts, goodwill in the Company’s Training and Simulation Division and Power Systems Division totaled $24,435,641 and $21,702,395, respectively, as of September 30, 2018 and $24,435,641 and $21,586,500, respectively, as of September 30, 2017.