Discontinued Operations

3 Months Ended

Mar. 31, 2019

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

6. DISCONTINUED OPERATIONS

In 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 had been part of our Production Enhancement segment. We are in the final stages of negotiating the divesture of this business.

The associated results of operations are separately reported as Discontinued Operations for all periods presented on the Consolidated Statements of Operations. Balance sheet items for this discontinued business, including an allocation of goodwill from the Production Enhancement segment, have been reclassified 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, 2019			March 31, 2018
Services	$	699		$	476
Product sales		1,768			530
Total Revenue		2,467			1,006
Cost of services, exclusive of depreciation expense shown    below		345			561
Cost of product sales, exclusive of depreciation expense    shown below		1,642			822
Depreciation and amortization		-			58
Other (income) expense		(26	)		8
Operating Income		506			(443	)
Income tax expense (benefit)		247			(97	)
Income (loss) from discontinued operations, net of income    taxes	$	259		$	(346	)

	March 31, 2019		December 31, 2018
Current assets	$	4,310	$	3,712
Non-current assets		1,832		1,848
Total assets	$	6,142	$	5,560
Current liabilities	$	1,781	$	1,633
Non-current liabilities		83		82
Total liabilities	$	1,864	$	1,715

Net cash provided by operating activities of discontinued operations for the three months ended March 31, 2019 and 2018 was $0.7 million and $0.5 million, respectively.