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Business Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2014
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired
These preliminary estimates and assumptions could change significantly during the purchase price measurement period as we finalize the valuations of these assets and liabilities. Such changes could result in material variances between the Company's future financial results and the amounts presented in the unaudited pro-forma information, including variances in estimated purchase price, fair values recorded, and expenses associated with these items.

 
 
As Reported on June 30, 2014
Provisional Adjustments
Estimated Fair Values September 30, 2014
Current assets
 
$
2,365

$
92

$
2,457

Property, plant and equipment
 
281

(281
)
—

Identifiable intangible assets
 
—

4,126

4,126

Current and long-term liabilities assumed
 
(2,035
)
(1,557
)
(3,592
)
Total identifiable net assets acquired
 
611

2,380

2,991

Goodwill
 
7,468

(2,380
)
5,088

     Total assets acquired
 
$
8,079

$
—

$
8,079
Finite-Lived and Indefinite-Lived Intangible Assets Acquired
The preliminary fair value assigned to finite lived intangible assets as a result of the acquisitions was as follows:
Description
 
Amount
Useful Life (Yrs)
Order backlog
 
$
470

1.0
Trademarks
 
90

2.0
Customer relationships
 
540

4.0
Developed technology
 
3,230

7.0
Revenue in excess of billings
 
283

0.5
Assumed deferred revenue obligation
 
(487
)
1.0
Total identifiable assets acquired
 
$
4,126

6.1
Net Sales and Earnings
The following table summarizes the net sales and earnings after income taxes of PECO and FGC since the acquisition date, April 30, 2014, which is included in the consolidated statements of operations for the three and nine months ended September 30, 2014:
 
 
Three Months Ended September 30, 2014
 
Nine Months Ended September 30, 2014
Revenue
 
$
1,052

 
$
3,493

Net income before taxes
 
243

 
837

 
 
 
 
 
Net income before taxes per Common Share
 
 
 
 
      Basic
 
$
0.01

 
$
0.04

      Diluted
 
$
0.01

 
$
0.04
Business Acquisition, Pro Forma Information
The following unaudited pro-forma information represents the Company's results of operations as if the acquisition date had occurred on January 1, 2013:
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2014
 
2013
 
2014
 
2013
Revenue
 
$
21,482

 
$
34,727

 
$
66,030

 
$
91,826

Net income / (loss)
 
712

 
3,961

 
194

 
5,429

 
 
 
 
 
 
 
 
 
Net income / (loss) per Common Share
 
 
 
 
 
 
 
 
      Basic
 
$
0.03

 
$
0.18

 
$
0.01

 
$
0.24

      Diluted
 
$
0.03

 
$
0.18

 
$
0.01

 
$
0.24