Discontinued Operations

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

In the first quarter of 2018, in a continuing effort to streamline our business and align our business strategy for further integration of services and products, the Company committed to divest the business of our full range of permanent downhole monitoring systems and related services, which have been part of our Production Enhancement segment. We anticipate the sale of this business line will occur within the next twelve months.

The associated results of operations are separately reported as Discontinued Operations for all periods presented on the Consolidated Statement of Operations. Balance sheet items for this discontinued business have been reclassed to Other current assets and Other current liabilities in the Consolidated Balance Sheet. Cash flows from this discontinued business are shown in the table below. As such, the results from continuing operations for the Company and segment highlights for Production Enhancement, exclude these discontinued operations.

Selected data for this discontinued business consisted of the following (in thousands):

	Three Months Ended
	March 31, 2018			March 31, 2017
Service revenue	$	476		$	334
Sales revenue	530			864
Total revenue	1,006			1,198
Cost of services, exclusive of depreciation expense shown below	561			551
Cost of product sales, exclusive of depreciation expense shown below	822			1,000
Depreciation and Amortization	58			123
Other Expense (Income)	8			(116		)
Operating Income	(443		)	(360		)
Income tax expense	(97		)	(50		)
Income (loss) from discontinued operations, net of income taxes	$	(346	)	$	(310	)
	March 31, 2018			December 31, 2017
Current assets	$	1,748		$	2,549
Non-current assets	990			1,048
Total assets	$	2,738		$	3,597
Current liabilities	$	500		$	221
Non-current liabilities	79			75
Total liabilities	$	579		$	296

Net cash provided by operating activities of discontinued operations for the three months ended March 31, 2018 was $0.5 million.