2018 Q4 Form 10-Q Financial Statement
#000003406718000034 Filed on October 25, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $90.32M | $87.88M | $52.16M |
YoY Change | 65.75% | 68.48% | 42.7% |
Cost Of Revenue | $58.90M | $58.16M | $35.00M |
YoY Change | 60.93% | 66.16% | 24.57% |
Gross Profit | $31.44M | $29.73M | $17.16M |
YoY Change | 76.18% | 73.22% | 102.93% |
Gross Profit Margin | 34.81% | 33.83% | 32.9% |
Selling, General & Admin | $17.20M | $15.05M | $10.98M |
YoY Change | 37.6% | 37.05% | 15.38% |
% of Gross Profit | 54.71% | 50.63% | 63.98% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $2.350M | $2.400M | $2.680M |
YoY Change | -6.37% | -10.45% | -3.25% |
% of Gross Profit | 7.47% | 8.07% | 15.62% |
Operating Expenses | $17.80M | $20.91M | $29.61M |
YoY Change | 30.88% | -29.39% | 171.69% |
Operating Profit | $13.64M | $8.820M | -$12.45M |
YoY Change | 221.3% | -170.85% | 409.79% |
Interest Expense | -$500.0K | $495.0K | $367.0K |
YoY Change | 25.0% | 34.88% | 38.49% |
% of Operating Profit | -3.67% | 5.61% | |
Other Income/Expense, Net | -$200.0K | -$335.0K | -$436.0K |
YoY Change | -50.0% | -23.17% | 177.71% |
Pretax Income | $12.40M | $7.990M | -$13.25M |
YoY Change | -4233.33% | -160.29% | 362.71% |
Income Tax | -$3.800M | $3.080M | $812.0K |
% Of Pretax Income | -30.65% | 38.55% | |
Net Earnings | $15.27M | $4.910M | -$14.06M |
YoY Change | -879.93% | -134.91% | 348.47% |
Net Earnings / Revenue | 16.91% | 5.59% | -26.96% |
Basic Earnings Per Share | $1.02 | $0.33 | -$0.98 |
Diluted Earnings Per Share | $1.02 | $0.33 | -$0.98 |
COMMON SHARES | |||
Basic Shares Outstanding | 14.90M shares | 14.57M shares | 14.37M shares |
Diluted Shares Outstanding | 14.57M shares | 14.37M shares |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $13.40M | $11.10M | $8.900M |
YoY Change | 48.89% | 24.72% | 18.67% |
Cash & Equivalents | $13.38M | $11.10M | $8.861M |
Short-Term Investments | |||
Other Short-Term Assets | $8.100M | $6.700M | $5.300M |
YoY Change | 39.66% | 26.42% | -19.7% |
Inventory | $51.07M | $56.50M | $31.49M |
Prepaid Expenses | |||
Receivables | $59.71M | $65.62M | $45.44M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $132.2M | $139.9M | $91.09M |
YoY Change | 32.27% | 53.56% | 24.97% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $95.14M | $79.78M | $59.59M |
YoY Change | 58.91% | 33.9% | 0.98% |
Goodwill | $0.00 | ||
YoY Change | -100.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $472.0K | $346.0K | $215.0K |
YoY Change | 59.46% | 60.93% | 100.93% |
Total Long-Term Assets | $108.2M | $89.64M | $73.78M |
YoY Change | 47.96% | 21.5% | -21.55% |
TOTAL ASSETS | |||
Total Short-Term Assets | $132.2M | $139.9M | $91.09M |
Total Long-Term Assets | $108.2M | $89.64M | $73.78M |
Total Assets | $240.4M | $229.5M | $164.9M |
YoY Change | 38.9% | 39.22% | -1.24% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $24.24M | $25.07M | $15.79M |
YoY Change | 22.28% | 58.72% | 34.02% |
Accrued Expenses | $8.967M | $10.43M | $4.188M |
YoY Change | 30.26% | 149.07% | -21.51% |
Deferred Revenue | $1.140M | $4.310M | |
YoY Change | -80.64% | ||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $3.125M | ||
YoY Change | |||
Total Short-Term Liabilities | $64.57M | $65.13M | $33.03M |
YoY Change | 41.51% | 97.18% | 10.23% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $38.23M | $41.50M | $22.00M |
YoY Change | 112.58% | 88.64% | 49.66% |
Other Long-Term Liabilities | $2.958M | $2.700M | $2.534M |
YoY Change | -5.16% | 6.55% | 24.46% |
Total Long-Term Liabilities | $41.19M | $2.700M | $2.534M |
YoY Change | 95.18% | 6.55% | 24.46% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $64.57M | $65.13M | $33.03M |
Total Long-Term Liabilities | $41.19M | $2.700M | $2.534M |
Total Liabilities | $106.1M | $110.1M | $58.56M |
YoY Change | 57.69% | 88.06% | 21.36% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $89.29M | $74.32M | $62.33M |
YoY Change | 48.64% | 19.23% | -24.53% |
Common Stock | $749.0K | $749.0K | $740.0K |
YoY Change | 1.08% | 1.22% | 2.21% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $817.0K | $815.0K | $361.0K |
YoY Change | 125.69% | 125.76% | 1344.0% |
Treasury Stock Shares | 82.19K shares | 82.14K shares | 39.78K shares |
Shareholders Equity | $134.3M | $119.4M | $106.3M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $240.4M | $229.5M | $164.9M |
YoY Change | 38.9% | 39.22% | -1.24% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $15.27M | $4.910M | -$14.06M |
YoY Change | -879.93% | -134.91% | 348.47% |
Depreciation, Depletion And Amortization | $2.350M | $2.400M | $2.680M |
YoY Change | -6.37% | -10.45% | -3.25% |
Cash From Operating Activities | $21.09M | $8.130M | $3.650M |
YoY Change | 238.52% | 122.74% | -61.17% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$18.53M | -$10.37M | -$1.130M |
YoY Change | 541.18% | 817.7% | -60.21% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$18.53M | -$10.37M | -$1.130M |
YoY Change | 543.4% | 817.7% | -60.35% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -230.0K | 6.340M | -2.370M |
YoY Change | -94.47% | -367.51% | -72.31% |
NET CHANGE | |||
Cash From Operating Activities | 21.09M | 8.130M | 3.650M |
Cash From Investing Activities | -18.53M | -10.37M | -1.130M |
Cash From Financing Activities | -230.0K | 6.340M | -2.370M |
Net Change In Cash | 2.330M | 4.100M | 150.0K |
YoY Change | -387.65% | 2633.33% | -107.46% |
FREE CASH FLOW | |||
Cash From Operating Activities | $21.09M | $8.130M | $3.650M |
Capital Expenditures | -$18.53M | -$10.37M | -$1.130M |
Free Cash Flow | $39.62M | $18.50M | $4.780M |
YoY Change | 334.43% | 287.03% | -60.95% |
Facts In Submission
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Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
12861000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
9515000 | USD |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
46000 | USD | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-30000 | USD | |
CY2017Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
6535000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
19821000 | USD | |
CY2018Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
9630000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
27550000 | USD | |
CY2017Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
17584000 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
17584000 | USD | |
CY2018Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD | |
CY2017Q3 | us-gaap |
Gross Profit
GrossProfit
|
17162000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
41547000 | USD | |
CY2018Q3 | us-gaap |
Gross Profit
GrossProfit
|
29728000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
79256000 | USD | |
CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-13252000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-14936000 | USD | |
CY2018Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
7990000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
22226000 | USD | |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
812000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1956000 | USD | |
CY2018Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3080000 | USD |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7024000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1051000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
4657000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
10747000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
16885000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3039000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
12659000 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
97000 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-1559000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1221000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
21618000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-20000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
576000 | USD | |
CY2017Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2018Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
367000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
1203000 | USD | |
CY2018Q3 | us-gaap |
Interest Expense
InterestExpense
|
495000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
1098000 | USD | |
CY2017Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
13049000 | USD |
CY2018Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
17431000 | USD |
CY2017Q4 | us-gaap |
Inventory Net
InventoryNet
|
35742000 | USD |
CY2018Q3 | us-gaap |
Inventory Net
InventoryNet
|
56496000 | USD |
CY2017Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
16255000 | USD |
CY2018Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
31259000 | USD |
CY2017Q4 | us-gaap |
Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
|
318000 | USD |
CY2018Q3 | us-gaap |
Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
|
321000 | USD |
CY2017Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
6120000 | USD |
CY2018Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
7485000 | USD |
CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
0 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | USD | |
CY2018Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
0 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | USD | |
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
67303000 | USD |
CY2018Q3 | us-gaap |
Liabilities
Liabilities
|
110129000 | USD |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
173083000 | USD |
CY2018Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
229519000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
45627000 | USD |
CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
65126000 | USD |
CY2017Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
18250000 | USD |
CY2018Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
42269000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4805000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
22090000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3297000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-26574000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
518000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
6545000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14064000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-16892000 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4910000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
15202000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-14064000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-16892000 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
4799000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14859000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment | |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
29611000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
54317000 | USD | |
CY2018Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
20908000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
54895000 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12449000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12770000 | USD | |
CY2018Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
8820000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
24361000 | USD | |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
3390000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
236000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
305000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
296000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
286000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
2267000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
0 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
296000 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
346000 | USD |
CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
2952000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
9730000 | USD | |
CY2018Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-236000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-2987000 | USD | |
CY2017Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3119000 | USD |
CY2018Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
2700000 | USD |
CY2017Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-436000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-965000 | USD | |
CY2018Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-335000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1039000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
336000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
453000 | USD | |
us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
485000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
133000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
310000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
880000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
891000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3299000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
26574000 | USD | |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.05 | |
CY2018Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.05 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
4000000 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
4000000 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2018Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5763000 | USD |
CY2018Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
6664000 | USD |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
154000 | USD | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
232000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
6000000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
23512000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
121339000 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
144697000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
59872000 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
79782000 | USD |
CY2017Q3 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-65000 | USD |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-66000 | USD | |
CY2018Q3 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-32000 | USD |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-28000 | USD | |
us-gaap |
Restructuring Charges
RestructuringCharges
|
553000 | USD | |
CY2017Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
2578000 | USD |
CY2018Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
2573000 | USD |
us-gaap |
Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
|
73000 | USD | |
CY2017Q3 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
0 | USD |
us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
458000 | USD | |
CY2018Q3 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
192000 | USD |
us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
553000 | USD | |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
60074000 | USD |
CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
74318000 | USD |
CY2017Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
52161000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
138314000 | USD | |
CY2018Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
87883000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
236111000 | USD | |
CY2017Q3 | us-gaap |
Selling Expense
SellingExpense
|
4446000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
13420000 | USD | |
CY2018Q3 | us-gaap |
Selling Expense
SellingExpense
|
5420000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
16427000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2125000 | USD | |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
0 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2662000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
232000 | USD | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
105780000 | USD |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
119390000 | USD |
CY2017Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
362000 | USD |
CY2017Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
0 | USD |
CY2017Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
39783 | shares |
CY2018Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
82136 | shares |
CY2018Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
815000 | USD |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
453000 | USD | |
CY2017Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD | |
CY2018Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
104000 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
323000 | USD | |
CY2018Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
104000 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
323000 | USD | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14368225 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14333452 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14571155 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14518765 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14368225 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14333452 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14571155 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14518765 | shares | |
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">COMMITMENTS AND CONTINGENCIES</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Contingent Liabilities</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company records an accrual for contingent liabilities when a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. When no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Anti-dumping and Countervailing Duties </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2015, U.S. Customs and Border Protection (“U.S. Customs”) sent us a Notice of Action that proposed to classify certain of our imports as subject to anti-dumping duties pursuant to a 2010 anti-dumping duty (“AD”) order on Oil Country Tubular Goods (“OCTG”) from China. A companion countervailing duty (“CVD”) order on the same product is in effect as well. The Notice of Action covered one entry of certain raw material steel mechanical tubing made in China and imported into the U.S. from Canada by our DynaEnergetics segment during 2015 for use in manufacturing perforating guns. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2015, we sent a response to U.S. Customs outlining the reasons our mechanical tubing imports do not fall within the scope of the AD order on OCTG from China and should not be subject to anti-dumping duties. U.S. Customs proposed to take similar action with respect to other entries of this product and requested an approximately </font><font style="font-family:inherit;font-size:10pt;">$1,100</font><font style="font-family:inherit;font-size:10pt;"> cash deposit or bond for AD/CVD. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2015, we posted the bond of approximately </font><font style="font-family:inherit;font-size:10pt;">$1,100</font><font style="font-family:inherit;font-size:10pt;"> to U.S. Customs. Subsequently, U.S. Customs declined to conclude on the Company’s assertion that the mechanical tubing the Company has been importing is not within the scope of the AD order on OCTG from China. As a result, on September 25, 2015 the Company filed a request for a scope ruling with the U.S. Department of Commerce (“Commerce Department”). </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 15, 2016, the Company received the Commerce Department’s scope ruling, which determined certain imports, primarily used for gun carrier tubing, are included in the scope of the AD/CVD orders on OCTG from China and thus are subject to AD/CVD. On March 11, 2016, the Company filed an appeal with the U.S. Court of International Trade (“CIT”) related to the Commerce Department’s scope ruling. On February 7, 2017, the CIT remanded the scope ruling to the Commerce Department to reconsider its determination. The Commerce Department filed its remand determination with the CIT on June 7, 2017 continuing to find that the Company’s imports at issue are within the scope of the AD/CVD orders on OCTG from China. On March 16, 2018, the CIT issued its decision on the appeal and sustained the Commerce Department’s scope ruling. The Company did not appeal this ruling.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 27, 2016, we received notice from U.S. Customs that it may pursue penalties against us related to the AD/CVD issue and demanding tender of alleged loss of AD/CVD in an amount of </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;">, which had previously been accrued for in our financial statements. We filed a response to the notice on February 6, 2017. On February 16, 2017, we received notice that U.S. Customs was seeking penalties in the amount of </font><font style="font-family:inherit;font-size:10pt;">$14,783</font><font style="font-family:inherit;font-size:10pt;">. U.S. Customs also reasserted its demand for tender of alleged loss of AD/CVD in the amount of </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;">. We tendered </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;"> in AD amounts on March 6, 2017 into a suspense account pending ultimate resolution of the AD/CVD case. We submitted a petition for relief and mitigation of penalties on May 17, 2017. </font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 27, 2018, we received notice from U.S. Customs Headquarters that it intended to move forward with its pursuit of penalties. The Company engaged in discussions with U.S. Customs Headquarters regarding the scope of penalties asserted and the arguments set forth in the Company’s petition for relief and mitigation of penalties. Based on these discussions and the Company’s assessment of the probable ultimate penalty rate, the Company accrued </font><font style="font-family:inherit;font-size:10pt;">$3,103</font><font style="font-family:inherit;font-size:10pt;"> in the first quarter of 2018.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 11, 2018, we received a decision from U.S. Customs Headquarters in which a mitigated amount of </font><font style="font-family:inherit;font-size:10pt;">$8,000</font><font style="font-family:inherit;font-size:10pt;"> in penalties was asserted. The Company expects to tender the amount in the fourth quarter of 2018. In its financial statements for the quarter ended September 30, 2018, the Company accrued an additional </font><font style="font-family:inherit;font-size:10pt;">$4,897</font><font style="font-family:inherit;font-size:10pt;"> of penalties. As of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2018</font><font style="font-family:inherit;font-size:10pt;">, the total amount accrued related to AD/CVD penalties was </font><font style="font-family:inherit;font-size:10pt;">$8,000</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the quarter ended September 30, 2018, the Company paid the remaining accrued AD/CVD and interest of $</font><font style="font-family:inherit;font-size:10pt;">3,461</font><font style="font-family:inherit;font-size:10pt;"> to U.S. Customs.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Patent and Trademark Infringement </font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On July 1, 2016, GEODynamics, Inc., a US-based oil and gas perforating equipment manufacturer based in Fort Worth, Texas (“GEODynamics”) filed a patent infringement action against DynaEnergetics US, Inc. (“DynaEnergetics”) in the United States District Court for the Eastern District of Texas (“District Court”) alleging infringement of US Patent No. 8,544,563 (the “563 patent”), based on DynaEnergetics’ US sales of DPEX</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> shaped charges. As part of the defense of this action, on September 20, 2016, DynaEnergetics filed an Inter Parties Review (IPR) against the 563 patent at the U.S. Patent Trial and Appeal Board (“PTAB”), requesting invalidation of the 563 patent. On March 17, 2017, DynaEnergetics’ IPR request was instituted by the PTAB, and on March 1, 2018, PTAB issued its decision in favor of DynaEnergetics, invalidating all challenged claims of the 563 patent. In May 2018, GEODynamics filed its notice of appeal with respect to the PTAB decision but withdrew its notice of appeal in September 2018. DynaEnergetics is in the process of filing for dismissal of the District Court case.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 28, 2017, GEODynamics filed a patent infringement action against DynaEnergetics in District Court alleging infringement of U.S. Patent No. 8,220,394 (the “394 patent”), based on DynaEnergetics’ U.S. sales of its DPEX</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> and HaloFrac</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> shaped charges. The 394 patent case went to trial in early October 2018, and on October 10, 2018, the jury found in favor of DynaEnergetics on all counts.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 21, 2017, GEODynamics filed a patent infringement action against DynaEnergetics GmbH & Co. KG and DynaEnergetics Beteiligungs GmbH, both wholly owned subsidiaries of DMC (collectively, “DynaEnergetics EU”), in the Regional Court of Düsseldorf, Germany, alleging infringement of the German part DE 60 2004 033 297 of European patent EP 1 671 013 B1 granted on June 29, 2011, a patent related to the 394 patent (the “EP 013 patent”). This action is based on the manufacturing, sale and marketing of DPEX shaped charges in Germany. DynaEnergetics EU denies validity and infringement of the EP 013 patent and is vigorously defending against this lawsuit. DynaEnergetics EU filed its defense at the Regional Court of Düsseldorf and a nullity action against EP 013 at the German Federal Patent Court on February 14, 2018. A trial in the infringement proceedings is scheduled for March 2019, and a trial in the nullity action is not expected before late 2019.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On September 27, 2017, DynaEnergetics GmbH & Co. KG filed a revocation action in the Patents Court, Shorter Trials Scheme in the UK against GEODynamics, asserting that the EP 013 patent, as maintained in the UK, is invalid. GEODynamics filed its defense and a counterclaim alleging infringement of the EP 013 patent in November 2017 based on sales and marketing of DPEX</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> shaped charges in the UK. GEODynamics discontinued its counterclaim for infringement on May 9, 2018 and has been ordered to pay costs related thereto at the close of the proceedings. Trial is currently expected to begin in late October 2018.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We do not believe that the EP 013 patent or infringement claims based on the patent are valid, and we do not believe it is probable that we will incur a material loss on the EP 013 matter. However, if it is determined that the patent is valid and that DynaEnergetics EU has infringed it, it is reasonably possible that our financial statements could be materially affected. We are not able to provide a reasonable estimate of the range of loss, and we have not accrued for any such losses. Such an evaluation includes, among other things, a determination of the total number of infringing products manufactured in Germany, the scope of potential damages and the relevant period for which damages would apply, if any.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Operating Leases</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the third quarter of 2018, we signed a lease for new office space for our corporate headquarters and for NobelClad’s U.S. administrative offices. We expect to move into the new offices during the first quarter of 2019. The annual minimum commitment payments under the office lease for the next five years as of September 30, 2018 are presented below:</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;text-indent:36px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:94.7265625%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Office Lease Commitments</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Year ended December 31 -</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">236</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">286</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">296</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">305</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px dotted #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,267</font></div></td><td style="vertical-align:bottom;border-bottom:1px dotted #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total minimum payments</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,390</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> |