Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 04, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | SPAR GROUP INC | |
Entity Central Index Key | 1,004,989 | |
Trading Symbol | sgrp | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 20,655,840 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | [1] | |
Current assets: | ||||
Cash and cash equivalents | $ 8,273 | $ 7,324 | ||
Accounts receivable, net | 30,124 | 33,669 | ||
Prepaid expenses and other current assets | 535 | 1,299 | ||
Total current assets | 38,932 | 42,292 | ||
Property and equipment, net | 2,523 | 2,536 | ||
Goodwill | 1,851 | 1,847 | ||
Intangible assets, net | 2,201 | 2,340 | ||
Deferred income taxes | 4,753 | 4,694 | ||
Other assets | 1,791 | 1,142 | ||
Total assets | 52,051 | 54,851 | ||
Liabilities and equity | ||||
Accounts payable | 7,133 | 5,567 | ||
Accrued expenses and other current liabilities | 10,381 | 9,766 | ||
Due to affiliates | [2] | 3,094 | 3,349 | |
Customer incentives and deposits | 1,481 | 1,305 | ||
Lines of credit and short-term loans | 6,535 | 9,778 | ||
Total current liabilities | 28,624 | 29,765 | ||
Long-term debt and other liabilities | 46 | 4 | ||
Total liabilities | 28,670 | 29,769 | ||
Commitments and Contingencies – See Note 9 | ||||
Equity: | ||||
Preferred stock, $.01 par value: Authorized and available shares– 2,445,598, Issued and outstanding shares– None – March 31, 2017 and December 31, 2016 | ||||
Common stock, $.01 par value: Authorized shares – 47,000,000, Issued shares – 20,680,717 – March 31, 2017 and December 31, 2016 | 207 | 207 | ||
Treasury stock, at cost 24,877 shares – March 31, 2017 and 37,877 shares – December 31, 2016 | (34) | (51) | ||
Additional paid-in capital | 16,138 | 16,093 | ||
Accumulated other comprehensive loss | (2,341) | (2,407) | ||
Retained earnings | 5,591 | 5,835 | ||
Total SPAR Group, Inc. equity | 19,561 | 19,677 | ||
Non-controlling interest | 3,820 | 5,405 | ||
Total equity | [3] | 23,381 | 25,082 | |
Total liabilities and equity | $ 52,051 | $ 54,851 | ||
[1] | See Note 2 Correction of Prior Period Financial Statements. | |||
[2] | Represent loans from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no payment terms and are due on demand and as such have been classified as current liabilities in the Company's consolidated financial statements. | |||
[3] | See Note 2 Correction of Prior Period Financial Statements. |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 | [1] |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, shares authorized (in shares) | 2,445,598 | 2,445,598 | |
Preferred stock, shares issued (in shares) | 0 | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized (in shares) | 47,000,000 | 47,000,000 | |
Common stock, shares issued (in shares) | 20,680,717 | 20,680,717 | |
Treasury stock, shares (in shares) | 24,877 | 37,877 | |
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | [1] | ||
Net revenues | $ 39,886 | $ 26,611 | ||
Cost of revenues | 31,838 | 20,442 | ||
Gross profit | 8,048 | 6,169 | ||
Selling, general and administrative expense | 7,058 | 5,513 | ||
Depreciation and amortization | 505 | 488 | ||
Operating income | 485 | 168 | ||
Interest (income) expense | (46) | 28 | ||
Other income, net | (62) | (24) | ||
Income before income tax expense | 593 | 164 | ||
Income tax expense | 419 | 5 | ||
Net income | 174 | [2] | 159 | |
Net income attributable to non-controlling interest | (418) | (298) | ||
Net loss attributable to SPAR Group, Inc. | $ (244) | $ (139) | ||
Basic and diluted loss per common share: (in dollars per share) | $ (0.01) | $ (0.01) | ||
Weighted average common shares – basic and diluted (in shares) | 20,649 | 20,563 | ||
Net income | $ 174 | [2] | $ 159 | |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | 164 | (488) | ||
Comprehensive income (loss) | 338 | (329) | ||
Comprehensive (loss) income attributable to non-controlling interest | (516) | 17 | ||
Comprehensive loss attributable to SPAR Group, Inc. | $ (178) | $ (312) | ||
[1] | See Note 2 Correction of Prior Period Financial Statements. | |||
[2] | See Note 2 Correction of Prior Period Financial Statements. |
Consolidated Statement of Equit
Consolidated Statement of Equity (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands | Employee Stock Purchase Plan [Member]Common Stock [Member] | Employee Stock Purchase Plan [Member]Treasury Stock [Member] | Employee Stock Purchase Plan [Member]Additional Paid-in Capital [Member] | Employee Stock Purchase Plan [Member]AOCI Attributable to Parent [Member] | Employee Stock Purchase Plan [Member]Retained Earnings [Member] | Employee Stock Purchase Plan [Member]Noncontrolling Interest [Member] | Employee Stock Purchase Plan [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total | ||
Shares (in shares) at Dec. 31, 2016 | [1] | 20,681 | 38 | |||||||||||||
Balance at Dec. 31, 2016 | [1] | $ 207 | $ (51) | $ 16,093 | $ (2,407) | $ 5,835 | $ 5,405 | $ 25,082 | [2] | |||||||
Share-based compensation | [1] | 55 | 55 | |||||||||||||
Purchase of treasury shares (in shares) | [1] | |||||||||||||||
Purchase of treasury shares | [1] | |||||||||||||||
Reissued treasury shares – RSU's (in shares) | [1] | (1) | ||||||||||||||
Reissued treasury shares – RSU's | [1] | $ 1 | (1) | |||||||||||||
Exercise of stock options (in shares) | [1] | (12) | ||||||||||||||
Exercise of stock options | [1] | $ 16 | (9) | 7 | ||||||||||||
Distributions to non-controlling investors | [1] | (2,101) | (2,101) | |||||||||||||
Other comprehensive income | [1] | 66 | 98 | 164 | ||||||||||||
Net income | [1] | (244) | 418 | 174 | ||||||||||||
Shares (in shares) at Mar. 31, 2017 | [1] | 20,681 | 25 | |||||||||||||
Balance at Mar. 31, 2017 | [1] | $ 207 | $ (34) | $ 16,138 | $ (2,341) | $ 5,591 | $ 3,820 | $ 23,381 | ||||||||
[1] | See Note 2 Correction of Prior Period Financial Statements. | |||||||||||||||
[2] | See Note 2 Correction of Prior Period Financial Statements. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Operating activities | ||||
Net income | $ 174 | [1] | $ 159 | [2] |
Adjustments to reconcile net income to net cash provided by operating activities | ||||
Depreciation and amortization | 505 | 488 | ||
Bad debt expense, net of recoveries | 25 | (40) | ||
Share based compensation | 55 | 88 | ||
Changes in operating assets and liabilities, net of business acquisitions and disposition: | ||||
Accounts receivable | 3,486 | 3,039 | ||
Prepaid expenses and other assets | 56 | (466) | ||
Accounts payable | 1,569 | 1,052 | ||
Accrued expenses, other current liabilities and customer incentives and deposits | 440 | 99 | ||
Net cash provided by operating activities | 6,310 | 4,419 | ||
Investing activities | ||||
Purchases of property and equipment and capitalized software | (284) | (372) | ||
Net cash used in investing activities | (284) | (372) | ||
Financing activities | ||||
Net payments on lines of credit | (3,192) | (1,868) | ||
Proceeds from stock options exercised | 7 | |||
Payments on term debt | (6) | (6) | ||
Distribution to non-controlling investors | (2,101) | (286) | ||
Net cash used in financing activities | (5,292) | (2,160) | ||
Effect of foreign exchange rate changes on cash | 215 | (572) | ||
Net change in cash and cash equivalents | 949 | 1,315 | ||
Cash and cash equivalents at beginning of year | 7,324 | [3] | 5,718 | |
Cash and cash equivalents at end of period | 8,273 | 7,033 | ||
Supplemental disclosure of cash flows information | ||||
Interest paid | (109) | (86) | ||
Income taxes paid | $ 117 | $ 39 | ||
[1] | See Note 2 Correction of Prior Period Financial Statements. | |||
[2] | See Note 2 Correction of Prior Period Financial Statements. | |||
[3] | See Note 2 Correction of Prior Period Financial Statements. |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The unaudited, interim consolidated financial statements of SPAR Group, Inc., a Delaware corporation ("SGRP"), and its subsidiaries (together with SGRP, collectively, the "Company" or the "SPAR Group"), accompanying this Quarterly Report on Form 10 March 31, 2017 10 10 December 31, 2016 10 December 31, 2016, April 17, 2017 "2016 2017 April 28, 2017 "2017 1 1A 2016 2017 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT EXECUTIVE COMPENSATION, EQUITY AWARDS AND OPTIONS. |
Note 2 - Correction of Prior Pe
Note 2 - Correction of Prior Period Financial Statements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | 2. In connection with the preparation of the Company’s consolidated financial statements for the three March 31, 2017, 99, 108, $1.6 December 31, 2016. December 31, 2016 December 31, 2016 three March 31, 2016, three six June 30, 2016, three nine September 30, 2016, December 31, 2016 Consolidated Balance Sheets (in thousands): As of March 31, 2016 As of June 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Accumulated other comprehensive loss $ (3,357 ) $ 1,332 $ (2,025 ) $ (3,570 ) $ 1,479 $ (2,091 ) Total SPAR Group, Inc. equity $ 18,163 $ 1,332 $ 19,495 $ 18,330 $ 1,479 $ 19,809 Non-controlling interest $ 5,708 $ (1,332 ) $ 4,376 $ 6,028 $ (1,479 ) $ 4,549 As of September 30, 2016 As of December 31, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Accumulated other comprehensive loss $ (3,364 ) $ 1,373 $ (1,991 ) $ (3,995 ) $ 1,588 $ (2,407 ) Total SPAR Group, Inc. equity $ 18,572 $ 1,373 $ 19,945 $ 18,089 $ 1,588 $ 19,677 Non-controlling interest $ 6,574 $ (1,373 ) $ 5,201 $ 6,993 $ (1,588 ) $ 5,405 Consolidated Statement of Income and Comprehensive Loss (in thousands): Three months ended March 31, 2016 As Reported Adjuste d As Revised Comprehensive (loss) income attributable to non-controlling interest $ (298 ) $ 315 $ 17 Comprehensive loss attributable to SPAR Group, Inc. $ (627 ) $ 315 $ (312 ) Three months ended June 30, 2016 Six months ended June 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (320 ) $ 148 $ (172 ) $ (618 ) $ 462 $ (156 ) Comprehensive loss attributable to SPAR Group, Inc. $ 69 $ 148 $ 217 $ (558 ) $ 462 $ (96 ) Three months ended September 30, 2016 Nine months ended September 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (546 ) $ (105 ) $ (651 ) $ (1,164 ) $ 357 $ (807 ) Comprehensive loss attributable to SPAR Group, Inc. $ 147 $ (105 ) $ 42 $ (411 ) $ 357 $ (54 ) Twelve months ended December 31, 2016 As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (1,583 ) $ 572 $ (1,011 ) Comprehensive loss attributable to SPAR Group, Inc. $ (953 ) $ 572 $ (381 ) |
Note 3 - Business and Organizat
Note 3 - Business and Organization | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 3. The Company is a supplier of merchandising and other marketing services throughout the United States and internationally. The Company also provides in-store event staffing, product sampling, audit services, furniture and other product assembly services, technology services and marketing research services. Assembly services are performed in stores, homes and offices while those other services are primarily performed in mass merchandise, office supply, grocery, drug, home improvement, independent, convenience, value channel and electronics stores. Merchandising services primarily consist of regularly scheduled, special project and other product services provided at the store level, and the Company may may As of March 31, 2017, 10 two 1979, May 2001 |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. The following table sets forth the computations of basic and diluted net income per share (in thousands, except per share data): Three Months Ended March 31 , 20 17 20 16 Numerator: Net loss attributable to SPAR Group, Inc. $ (244 ) $ (139 ) Denominator: Weighted average shares used in basic and diluted net income per share calculation 20,649 20,563 Basic and diluted net loss per common share $ (0.01 ) $ (0.01 ) For the three March 31, 2017 2016, 723,000 771,000 |
Note 5 - Credit Facilities
Note 5 - Credit Facilities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. Sterling Credit Facility: SGRP and certain of its US and Canadian subsidiaries (namely SPAR Marketing Force, Inc., SPAR Assembly & Installation, Inc. (F/K/A SPAR National Assembly Services, Inc.), SPAR Group International, Inc., SPAR Trademarks, Inc., SPAR Acquisition, Inc., SPAR Canada, Inc.), and SPAR Canada Company ("SCC") (together with SGRP and SCC, each a "Borrower") are parties to a Revolving Loan and Security Agreement dated July 6, 2010, June 2011, July 2012, January 2013, July 2013, October 2013, June 2014, September 2015, December 2016, March 2017 April 2017 $9.0 July 6, 2017 The Sterling Loan Agreement currently requires the Borrowers to pay interest on the loans thereunder equal to the Agent's floating Prime Rate (as defined in such agreement) plus one one (1/2%) one eighth one (0.125%) Revolving Loans of up to $9.0 85% The amendment to the Sterling Loan Agreement dated as of December 22, 2016, $9.0 January 31, 2017 one one March 3, 2017, $9.0 July 6, 2017. April 13, 2017, December 31, 2016 2017. The Sterling Loan Agreement requires the Borrowers to maintain certain financial covenants, including maintenance by the Borrowers of a minimum combined tangible net worth of $7.4 $10.0 50% 3.0 1.0, 1.5 1.0. $2.0 may March 31, 2017. International Credit Facilities: SPARFACTS Australia Pty. Ltd. has a secured line of credit facility with Oxford Funding Pty Ltd. for $1.2 $917,000 March 31, 2017). 80% October 31, 2012, March 31, 2017 $252,000. On March 7, 2011, 20.0 $179,000. 238,000 $2,000 0.1% February 28, 2018. March 31, 2017, 2.6 $24,000 March 31, 2017), On November 29, 2016, 1.5 $477,000 March 31, 2017). November 29, 2017, 2.08% March 31, 2017 zero. On December 26, 2016, 2.0 $636,000 March 31, 2017). R$184,000 $58,000 17.3% December 15, 2017. March 31, 2017, 1,445,000 $459,000 March 31, 2017). SPAR Todopromo has secured a line of credit facility with BBVA Bancomer Ban for 5.0 $267,000 March 31, 2017). March 15, 2016 March 2018. 4% 10.5% March 2017. March 31, 2017 zero. The Company had scheduled future maturities of loans as of March 31, 2017, Interest Rate as of March 31, 2017 2017 2018 USA - Sterling National Bank 4.5 % $ 5,800 – Japan - Mizuho Bank 0.1 % 19 $ 5 Australia - Oxford Funding Pty Ltd. 6.4 % 252 – Brazil – Bradesco Bank 17.3 % 459 – Total $ 6,530 $ 5 Summary of March 31, 2017 December 31, 2016 Unused Availability: United States $ 1,716 $ 500 Australia 665 688 Mexico 267 241 Brazil 477 – Total Unused Availability $ 3,125 $ 1,429 Management believes that based upon the continuation of the Company's existing credit facilities, projected results of operations, vendor payment requirements and other financing available to the Company (including amounts due to affiliates), sources of cash availability should be manageable and sufficient to support ongoing operations over the next year. However, delays in collection of receivables due from any of the Company's major clients, or a significant reduction in business from such clients could have a material adverse effect on the Company's cash resources and its ongoing ability to fund operations. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 6. SGRP's policy respecting approval of transactions with related persons, promoters and control persons is contained in the SPAR Group Code of Ethical Conduct for its Directors, Senior Executives and Employees Amended and Restated (as of) August 13, 2015 may IV.11 I.2(l) SGRP's Audit Committee has the specific duty and responsibility to review and approve the overall fairness of all material related-party transactions. The Audit Committee receives affiliate contracts and amendments thereto for its review and approval (to the extent approval is given), and these contracts are periodically (often annually) again reviewed, in accordance with the Audit Committee Charter, the Ethics Code, the rules of the Nasdaq Stock Market, Inc. ("Nasdaq"), and other applicable law to ensure that the overall economic and other terms will be (or continue to be) no less favorable to the Company than would be the case in an arms-length contract with an unrelated provider of similar services (i.e., its overall fairness to the Company including pricing and the ability to provide services at comparable performance levels). The Audit Committee periodically reviews all related party relationships and transactions described below. In addition, in order to (among other things) assist the Board and the Audit Committee in connection with an overall review of the Company’s related party transactions and certain worker classification-related litigation matters, in April 2017 6 Domestic Related Party Services 9 Commitments and Contingencies Legal Matters Domestic Related Party Services: SPAR Business Services, Inc. ("SBS"), SPAR Administrative Services, Inc. ("SAS"), and SPAR InfoTech, Inc. ("SIT"), are affiliates of SGRP but are not under the control or part of the consolidated Company. Mr. Robert G. Brown, a Director, Chairman and a major stockholder of SGRP, and Mr. William H. Bartels, a Director, Vice Chairman and a major stockholder of SGRP, are the sole stockholders of SBS. Mr. Brown is the sole stockholder of SIT. Mr. Brown is a director and officer of SBS and SIT. Mr. Bartels is a director and officer of SAS. The stockholders of SAS were Mr. Bartels and previously Mr. Brown, and as of January 1, 2015, The Company executes the services it provides to its domestic clients through independent field merchandising, auditing, assembly and other field personnel (each a "Field Specialist"), substantially all of whom are provided by SBS, and administers those services through local and regional administrators, substantially all of whom are provided by SAS. The Company paid $5.9 $4.9 three March 31, 2017 2016, 4,100 83% 80% three March 31, 2017 2016, $1.1 three March 31, 2017 2016, 55 56 March 31, 2017 2016, 92% 93% three March 31, 2017 2016). $6.9 $6.1 three March 31, 2017 2016, The terms of the Amended and Restated Field Service Agreement with SBS dated as of January 1, 2004, 2011, January 1, 2004 November 30, 2014. 2016. The Company and SBS have agreed in principle to a revised Cost Plus Fee arrangement equal to 2.96% December 1, 2014. No SBS compensation to any officer, director or other related party has been reimbursed or approved to date by the Company, and no such compensation reimbursements were made or approved under SBS's Prior Agreement. This is not a restriction on SBS since SBS is not controlled by the Company and may July 2015, The Company has determined that the rates charged by SBS for the services of its field merchandising, auditing, assembly and other field personnel (each a "Field Specialist") are favorable to the Company when compared to other possible non-affiliate providers. SBS has advised the Company that those favorable rates are dependent (at least in part) on SBS's ability to continue to use independent contractors as its Field Specialists, that such Field Specialists generally provide greater flexibility and performance quality at lower total costs as a result of their business independence and initiative, and that it has an agreement with each Field Specialist clearly confirming his, her, or its status as an independent contractor. The appropriateness of SBS's treatment of its Field Specialists as independent contractors has been periodically subject to legal challenge (both currently and historically) by various states and others, SBS's expenses of defending those challenges and other proceedings have historically been reimbursed by the Company under SBS's Prior Agreement, and SBS's expenses of defending those challenges and other proceedings were reimbursed by the Company for the three March 31, 2017 2016 $85,000 $354,000, Current material and potentially material proceedings against SBS and, in one 9 Commitments and Contingencies Legal Matters Any prolonged continuation of or material increase in the legal defense costs of SBS (and thus the reimbursable expenses SBS may may third On June 14, 2016, December 1, 2014, 4% 2% June 1, 2016. SGRP's Audit Committee has approved the SAS Agreement pursuant to its specific duty and responsibility to review and approve the overall fairness of all material related-party transactions, as more fully provided above in this Note 6 No unbudgeted SAS compensation to any officer, director or other related party has been reimbursed or approved to date by the Company, and no such compensation reimbursements were made or approved under SAS's Prior Agreement. This is not a restriction on SAS since SAS is not controlled by the Company and may National Merchandising Services, LLC ("NMS"), is a consolidated domestic subsidiary of the Company and is owned jointly by SGRP through its indirect ownership of 51% 49% International Related Party Services: SGRP Meridian (Pty), Ltd. ("Meridian") is a consolidated international subsidiary of the Company and is owned 51% 49% 50% 50% 46.7%, 20% 33.3%, 2 126 4 SPAR Todopromo is a consolidated international subsidiary of the Company and is owned 51% 49% (90%) three March 31, 2017 2016. In August 2016, December 31, 2017, On September 8, 2016, one 100% Related Party Transactions and Arrangements in the Brazil Acquisition 51% 39% 10% JKC is owned by Mr. Jonathan Dagues Martins, a Brazilian citizen and resident ("JDM") and his sister, Ms. Karla Dagues Martins, a Brazilian citizen and resident. JDM is the Chief Executive Officer and President of each SPAR Brazil company pursuant to a Management Agreement between JDM and SPAR BSMT dated September 13, 2016. 2014 December 2016, SPAR BSMT has contracted with Ms. Karla Dagues Martins, a Brazilian citizen and resident and JDM's sister to handle the labor litigation cases for SPAR BSMT and its subsidiaries. These legal services are being provided to them at local market rates by Ms. Martins's company, Karla Martins Sociedade de Advogados ("KMSA"). The NM Acquisition (as defined below in Note 11 Purchase of Interest in Subsi diaries The Company believes it is the largest and most important customer of SBS, SAS, NRS, MPT, MCPT, MHT, CON, JFMD and KMSA (and from time to time may Summary of Related Party Services: The following costs of affiliates were charged to the Company (in thousands): Three Months Ended March 31 , 201 7 201 6 Services provided by affiliates: Field merchandiser and other expenses (SBS) $ 5,875 $ 4,947 Field administration and other expenses (SAS) $ 1,074 $ 1,138 Office and vehicle rental expenses (MPT) $ 15 $ 12 Vehicle rental expenses (MCPT) $ 297 $ 179 Office and vehicle rental expenses (MHT) $ 40 $ 20 Consulting and administrative services (CON) $ 96 $ 77 Legal Services (KMSA) $ 24 $ – Warehouse rental (JFMD) $ 11 $ – Total services provided by affiliates $ 7,432 $ 6,373 Due to affiliates consists of the following (in thousands): March 31 , December 31, 201 7 201 6 Loans from local investors:(1) Australia $ 244 $ 231 Mexico 1,001 1,001 Brazil 139 139 China 763 761 NMS LLC - 348 Accrued Expenses due to affiliates: SBS/SAS 947 869 Total due to affiliates $ 3,094 $ 3,349 (1) Other Related Party Transactions and Arrangements In July 1999, $49,000, Through arrangements with the Company, SBS, SAS and other companies owned by Mr. Brown or Mr. Bartels participate in various benefit plans, insurance policies and similar group purchases by the Company, for which the Company charges them their allocable shares of the costs of those group items and the actual costs of all items paid specifically for them. All such transactions between the Company and the above affiliates are paid and/or collected by the Company in the normal course of business. In addition to the above, SAS purchases insurance coverage for worker compensation, casualty and property insurance risk for itself, for SBS for its Field Specialists that require such insurance coverage, and for the Company from Affinity Insurance, Ltd. ("Affinity"). SAS owns a minority (less than 1%) |
Note 7 - Preferred Stock
Note 7 - Preferred Stock | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 7. SGRP's certificate of incorporation authorizes it to issue 3,000,000 $0.01 may may 3,000,000 10% one one 554,402 2011 2,445,598 March 31, 2017, |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation and Other Plans | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8. SGRP has granted restricted stock and stock option awards to its eligible directors, officers and employees and certain employees of its affiliates respecting shares of Common Stock issued by SGRP ("SGRP Shares") pursuant to SGRP's 2008 "2008 May 2008 2009. 2008 March 31, 2017, 1.1 2008 100,000 three March 31, 2017. The Company recognized $46,000 $66,000 three March 31, 2017 2016, three March 31, 2017 2016 $17,400 $25,300, March 31, 2017, $373,500. During the three March 31, 2017 2016, $9,000 $12,000, three March 31, 2017 2016 $3,400 $4,700, March 31, 2017, $65,300. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Legal Matters The Company is a party to various legal actions and administrative proceedings arising in the normal course of business. In the opinion of Company's management, disposition of these matters are not anticipated to have a material adverse effect on the Company or its estimated or desired assets, business, clients, capital, cash flow, credit, expenses, financial condition, income, liabilities, liquidity, locations, marketing, operations, prospects, sales, strategies, taxation or other achievement, results or condition. The Company executes the services it provides to its domestic clients through independent field merchandising, auditing, assembly and other field personnel (each a "Field Specialist"), almost all of whom are independent contractors. Substantially all of the Company's domestic Field Specialists are engaged and provided as independent contractors by SBS. For contractual details and payment amounts, see Note 6 Related Party Transactions Domestic Related Party Services The appropriateness of SBS's treatment of its Field Specialists as independent contractors has been periodically subject to legal challenge (both currently and historically) by various states and others, SBS's expenses of defending those challenges and other proceedings have historically been reimbursed by the Company under SBS's Prior Agreement, and SBS's expenses of defending those challenges and other proceedings were reimbursed by the Company during the three March 31, 2017 2016 $85,000 $354,000, Current material and potentially material proceedings against SBS and, in one SBS Clothier Litigation Melissa Clothier was engaged by SBS (then known as SPAR Marketing Services, Inc.) and provided services pursuant to the terms of an "Independent Merchandiser Agreement" acknowledging her engagement as an independent contractor. On June 30, 2014, RG12 639317, July 16, 2008, June 30, 2014. two one September 9, 2016, two two one SBS Rodgers Litigation Maceo Rodgers was engaged by and provided services to SBS pursuant to the terms of his "Master Agreements" with SBS acknowledging his engagement as an independent contractor. On February 21, 2014, 3:14 00055, July 15, 2012, December 8, 2015, 61 11 SBS and SGRP Hogan Litigation Paradise Hogan was engaged by and provided services to SBS as an independent contractor pursuant to the terms of an "Independent Contractor Master Agreement" with SBS acknowledging his engagement as an independent contractor. On January 6, 2017, 1:17 10024 March 28, 2017, May 2, 2017, May 24, 2017. Potential Adverse Effects of the SBS Litigation Any prolonged continuation of or material increase in the legal defense costs of SBS (and thus the reimbursable expenses SBS may may third 6 |
Note 10 - Segment Information
Note 10 - Segment Information | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 10. The Company reports net revenues from operating income by reportable segment. Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company provides similar merchandising and marketing services throughout the world, operating within two The accounting policies of each of the reportable segments are the same as those described in the Summary of Significant Accounting Policies. Management evaluates performance as follows (in thousands): Three Months Ended March 31, 201 7 201 6 Revenue: United States $ 11,321 $ 9,752 International 28,565 16,859 Total revenue $ 39,886 $ 26,611 Operating income (loss): United States $ 64 $ (297 ) International 421 465 Total operating income $ 485 $ 168 Interest (income) expense: United States $ 51 $ 24 International (97 ) 4 Total interest (income) expense $ (46 ) $ 28 Other income, net: United States $ – $ – International (62 ) (24 ) Total other income, net $ (62 ) $ (24 ) Income before income tax expense: United States $ 13 $ (321 ) International 580 485 Total income before income tax expense $ 593 $ 164 Income tax expense: United States $ 249 $ (211 ) International 170 216 Total income tax expense $ 419 $ 5 Net income: United States $ (236 ) $ (110 ) International 410 269 Total net income $ 174 $ 159 Net income attributable to non-controlling interest: United States $ (26 ) $ (39 ) International (392 ) (259 ) Total net income attributable to non-controlling interest $ (418 ) $ (298 ) Net (loss) income attributable to SPAR Group, Inc.: United States $ (262 ) $ (149 ) International 18 10 Total net (loss) income attributable to SPAR Group, Inc. $ (244 ) $ (139 ) Depreciation and amortization: United States $ 340 $ 343 International 165 145 Total depreciation and amortization $ 505 $ 488 Capital expenditures: United States $ 266 $ 245 International 94 127 Total capital expenditures $ 360 $ 372 Note: There were no March 31, December 31, 201 7 201 6 Assets: United States $ 19,313 $ 22,189 International 32,738 32,662 Total assets $ 52,051 $ 54,851 Geographic Data Three Months Ended March 31 , 20 17 2016 International revenue: % of consolidated net revenue % of consolidated net revenue Brazil $ 9,943 24.9% $ – –% South Africa 6,027 15.1 4,214 15.8 Mexico 4,688 11.8 4,999 18.8 China 2,408 6.0 2,735 10.3 Japan 1,709 4.3 1,593 6.0 India 1,612 4.0 1,304 4.9 Canada 1,303 3.3 1,258 4.7 Australia 810 2.0 659 2.5 Turkey 65 0.2 97 0.4 Total international revenue $ 28,565 71.6% $ 16,859 63.4% March 31, December 31, 20 17 20 16 Long lived assets: United States $ 8,526 $ 8,594 International 4,593 3,965 Total long lived assets $ 13,119 $ 12,559 |
Note 11 - Purchase of Interests
Note 11 - Purchase of Interests in Subsidiaries | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 11. In September 2016, 6 Related Party Transactions - Related Party Transactions and Arrangements in the Brazil Acquisition September 13, 2016 two 99% 1% September 19, 2016, September 13, 2016. R$1,312,000 US$401,000). Momentum Promoções Ltda., one September 13, 2016 September 13, 2016 12 R$205,417 US$65,700). December 31, 2016, April 30, 2017 September 13, 2017. The Company has completed its preliminary calculation of the fair value and related allocation of assets between goodwill and other. The amounts listed below reflect the results of our preliminary assessment and may Cash $ 484 Net Working Capital, net of cash (155 ) Fixed Assets 22 Intangible Assets 336 Goodwill 133 Assumed Liabilities (419 ) Net Fair Value of Assets Acquired $ 401 For the three March 31, 2017, $9.9 $22,000 January 1, 2016 Revenue Net Loss Consolidated supplemental pro forma for the three month period ended March 31, 2016 $ 33,838 $ (266 ) The pro forma in the table above includes adjustments for, amortization of intangible assets and acquisition costs to reflect results that are more representative of the results of the transactions as if the SPAR Brasil acquisition closed on January 1, 2016. may may may |
Note 12 - Summary of Significan
Note 12 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 12. New Accounting Pronouncements In January 2017, 2017 04 2017 04), 350) 2017 04, 2017 04 December 15, 2019. 2017 04 In January 2017, 2017 01, 2017 01 December 31, 2017. In March 2016, 2016 09, 718)” 2016 09”). December 15, 2016. January 1, 2017, 2016 09. In February 2016, 2016 02 12 December 15, 2018 may In November 2015, 2015 17, 740): first 2017, $471,000 $2,389,000. In May 2014, 2014 09 July 2015, one 2015 14). December 15, 2017. December 15, 2016. 1) 2016 08); 2) 2016 10); 3) 605 2016 11); 4) 2016 12); 5) 2016 20). 2014 09 |
Note 13 - Capital Lease Obligat
Note 13 - Capital Lease Obligations | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | 13. The Company has an outstanding capital lease obligation with an interest rate of 5.8%. Start Date: Original Cost Accumulated Amortization Net Book Value at March 31, 2017 January 2017 $ 76 $ 6 $ 70 Annual future minimum lease payments required under the leases, together with the present value as of March 31, 2017, Year Ending 2017 $ 20 2018 28 2019 28 76 Less amount representing interest 6 Present value of net minimum lease payments included in accrued expenses and other current liabilities, and long term debt $ 70 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In January 2017, 2017 04 2017 04), 350) 2017 04, 2017 04 December 15, 2019. 2017 04 In January 2017, 2017 01, 2017 01 December 31, 2017. In March 2016, 2016 09, 718)” 2016 09”). December 15, 2016. January 1, 2017, 2016 09. In February 2016, 2016 02 12 December 15, 2018 may In November 2015, 2015 17, 740): first 2017, $471,000 $2,389,000. In May 2014, 2014 09 July 2015, one 2015 14). December 15, 2017. December 15, 2016. 1) 2016 08); 2) 2016 10); 3) 605 2016 11); 4) 2016 12); 5) 2016 20). 2014 09 |
Note 2 - Correction of Prior 21
Note 2 - Correction of Prior Period Financial Statements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As of March 31, 2016 As of June 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Accumulated other comprehensive loss $ (3,357 ) $ 1,332 $ (2,025 ) $ (3,570 ) $ 1,479 $ (2,091 ) Total SPAR Group, Inc. equity $ 18,163 $ 1,332 $ 19,495 $ 18,330 $ 1,479 $ 19,809 Non-controlling interest $ 5,708 $ (1,332 ) $ 4,376 $ 6,028 $ (1,479 ) $ 4,549 As of September 30, 2016 As of December 31, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Accumulated other comprehensive loss $ (3,364 ) $ 1,373 $ (1,991 ) $ (3,995 ) $ 1,588 $ (2,407 ) Total SPAR Group, Inc. equity $ 18,572 $ 1,373 $ 19,945 $ 18,089 $ 1,588 $ 19,677 Non-controlling interest $ 6,574 $ (1,373 ) $ 5,201 $ 6,993 $ (1,588 ) $ 5,405 Three months ended March 31, 2016 As Reported Adjuste d As Revised Comprehensive (loss) income attributable to non-controlling interest $ (298 ) $ 315 $ 17 Comprehensive loss attributable to SPAR Group, Inc. $ (627 ) $ 315 $ (312 ) Three months ended June 30, 2016 Six months ended June 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (320 ) $ 148 $ (172 ) $ (618 ) $ 462 $ (156 ) Comprehensive loss attributable to SPAR Group, Inc. $ 69 $ 148 $ 217 $ (558 ) $ 462 $ (96 ) Three months ended September 30, 2016 Nine months ended September 30, 2016 As Reported Adjuste d As Revised As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (546 ) $ (105 ) $ (651 ) $ (1,164 ) $ 357 $ (807 ) Comprehensive loss attributable to SPAR Group, Inc. $ 147 $ (105 ) $ 42 $ (411 ) $ 357 $ (54 ) Twelve months ended December 31, 2016 As Reported Adjuste d As Revised Comprehensive income attributable to non-controlling interest $ (1,583 ) $ 572 $ (1,011 ) Comprehensive loss attributable to SPAR Group, Inc. $ (953 ) $ 572 $ (381 ) |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31 , 20 17 20 16 Numerator: Net loss attributable to SPAR Group, Inc. $ (244 ) $ (139 ) Denominator: Weighted average shares used in basic and diluted net income per share calculation 20,649 20,563 Basic and diluted net loss per common share $ (0.01 ) $ (0.01 ) |
Note 5 - Credit Facilities (Tab
Note 5 - Credit Facilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Interest Rate as of March 31, 2017 2017 2018 USA - Sterling National Bank 4.5 % $ 5,800 – Japan - Mizuho Bank 0.1 % 19 $ 5 Australia - Oxford Funding Pty Ltd. 6.4 % 252 – Brazil – Bradesco Bank 17.3 % 459 – Total $ 6,530 $ 5 |
Credit And Debt Facilities Unused Availability [Table Text Block] | March 31, 2017 December 31, 2016 Unused Availability: United States $ 1,716 $ 500 Australia 665 688 Mexico 267 241 Brazil 477 – Total Unused Availability $ 3,125 $ 1,429 |
Note 6 - Related Party Transa24
Note 6 - Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended March 31 , 201 7 201 6 Services provided by affiliates: Field merchandiser and other expenses (SBS) $ 5,875 $ 4,947 Field administration and other expenses (SAS) $ 1,074 $ 1,138 Office and vehicle rental expenses (MPT) $ 15 $ 12 Vehicle rental expenses (MCPT) $ 297 $ 179 Office and vehicle rental expenses (MHT) $ 40 $ 20 Consulting and administrative services (CON) $ 96 $ 77 Legal Services (KMSA) $ 24 $ – Warehouse rental (JFMD) $ 11 $ – Total services provided by affiliates $ 7,432 $ 6,373 Due to affiliates consists of the following (in thousands): March 31 , December 31, 201 7 201 6 Loans from local investors:(1) Australia $ 244 $ 231 Mexico 1,001 1,001 Brazil 139 139 China 763 761 NMS LLC - 348 Accrued Expenses due to affiliates: SBS/SAS 947 869 Total due to affiliates $ 3,094 $ 3,349 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, 201 7 201 6 Revenue: United States $ 11,321 $ 9,752 International 28,565 16,859 Total revenue $ 39,886 $ 26,611 Operating income (loss): United States $ 64 $ (297 ) International 421 465 Total operating income $ 485 $ 168 Interest (income) expense: United States $ 51 $ 24 International (97 ) 4 Total interest (income) expense $ (46 ) $ 28 Other income, net: United States $ – $ – International (62 ) (24 ) Total other income, net $ (62 ) $ (24 ) Income before income tax expense: United States $ 13 $ (321 ) International 580 485 Total income before income tax expense $ 593 $ 164 Income tax expense: United States $ 249 $ (211 ) International 170 216 Total income tax expense $ 419 $ 5 Net income: United States $ (236 ) $ (110 ) International 410 269 Total net income $ 174 $ 159 Net income attributable to non-controlling interest: United States $ (26 ) $ (39 ) International (392 ) (259 ) Total net income attributable to non-controlling interest $ (418 ) $ (298 ) Net (loss) income attributable to SPAR Group, Inc.: United States $ (262 ) $ (149 ) International 18 10 Total net (loss) income attributable to SPAR Group, Inc. $ (244 ) $ (139 ) Depreciation and amortization: United States $ 340 $ 343 International 165 145 Total depreciation and amortization $ 505 $ 488 Capital expenditures: United States $ 266 $ 245 International 94 127 Total capital expenditures $ 360 $ 372 Note: There were no inter-company sales for the three months ended March 31, 2017 or 2016. |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | March 31, December 31, 201 7 201 6 Assets: United States $ 19,313 $ 22,189 International 32,738 32,662 Total assets $ 52,051 $ 54,851 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended March 31 , 20 17 2016 International revenue: % of consolidated net revenue % of consolidated net revenue Brazil $ 9,943 24.9% $ – –% South Africa 6,027 15.1 4,214 15.8 Mexico 4,688 11.8 4,999 18.8 China 2,408 6.0 2,735 10.3 Japan 1,709 4.3 1,593 6.0 India 1,612 4.0 1,304 4.9 Canada 1,303 3.3 1,258 4.7 Australia 810 2.0 659 2.5 Turkey 65 0.2 97 0.4 Total international revenue $ 28,565 71.6% $ 16,859 63.4% |
Reconciliation Of Long Lived Assets From Segments To Consolidated [Table Text Block] | March 31, December 31, 20 17 20 16 Long lived assets: United States $ 8,526 $ 8,594 International 4,593 3,965 Total long lived assets $ 13,119 $ 12,559 |
Note 11 - Purchase of Interes26
Note 11 - Purchase of Interests in Subsidiaries (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cash $ 484 Net Working Capital, net of cash (155 ) Fixed Assets 22 Intangible Assets 336 Goodwill 133 Assumed Liabilities (419 ) Net Fair Value of Assets Acquired $ 401 |
Business Acquisition, Pro Forma Information [Table Text Block] | Revenue Net Loss Consolidated supplemental pro forma for the three month period ended March 31, 2016 $ 33,838 $ (266 ) |
Note 13 - Capital Lease Oblig27
Note 13 - Capital Lease Obligations (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Capital Leased Assets [Table Text Block] | Start Date: Original Cost Accumulated Amortization Net Book Value at March 31, 2017 January 2017 $ 76 $ 6 $ 70 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Year Ending 2017 $ 20 2018 28 2019 28 76 Less amount representing interest 6 Present value of net minimum lease payments included in accrued expenses and other current liabilities, and long term debt $ 70 |
Note 2 - Correction of Prior 28
Note 2 - Correction of Prior Period Financial Statements (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Reclassification Between Comprehensive Loss Attributable to SPAR Group, Inc. and Comprehensive Loss Attributable to Non-controlling Interest [Member] | Year Ended December 31, 2016 [Member] | |
Prior Period Reclassification Adjustment | $ 1.6 |
Note 2 - Correction of Prior 29
Note 2 - Correction of Prior Period Financial Statements - Adjustments to Prior Period Financials (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2017 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | |||
Accumulated other comprehensive loss | $ (2,341) | $ (1,991) | $ (2,091) | $ (2,025) | $ (2,091) | $ (1,991) | $ (2,407) | [1] | |
Total SPAR Group, Inc. equity | 19,561 | 19,945 | 19,809 | 19,495 | 19,809 | 19,945 | 19,677 | [1] | |
Non-controlling interest | 3,820 | 5,201 | 4,549 | 4,376 | 4,549 | 5,201 | 5,405 | [1] | |
Comprehensive (loss) income attributable to non-controlling interest | (516) | (651) | (172) | 17 | [2] | (156) | (807) | (1,011) | |
Comprehensive loss attributable to SPAR Group, Inc. | (178) | 42 | 217 | (312) | [2] | (96) | (54) | (381) | |
Comprehensive (loss) income attributable to non-controlling interest | $ (516) | (651) | (172) | 17 | [2] | (156) | (807) | (1,011) | |
Scenario, Previously Reported [Member] | |||||||||
Accumulated other comprehensive loss | (3,364) | (3,570) | (3,357) | (3,570) | (3,364) | (3,995) | |||
Total SPAR Group, Inc. equity | 18,572 | 18,330 | 18,163 | 18,330 | 18,572 | 18,089 | |||
Non-controlling interest | 6,574 | 6,028 | 5,708 | 6,028 | 6,574 | 6,993 | |||
Comprehensive (loss) income attributable to non-controlling interest | (546) | (320) | (298) | (618) | (1,164) | (1,583) | |||
Comprehensive loss attributable to SPAR Group, Inc. | 147 | 69 | (627) | (558) | (411) | (953) | |||
Comprehensive (loss) income attributable to non-controlling interest | (546) | (320) | (298) | (618) | (1,164) | (1,583) | |||
Restatement Adjustment [Member] | |||||||||
Accumulated other comprehensive loss | 1,373 | 1,479 | 1,332 | 1,479 | 1,373 | 1,588 | |||
Total SPAR Group, Inc. equity | 1,373 | 1,479 | 1,332 | 1,479 | 1,373 | 1,588 | |||
Non-controlling interest | (1,373) | (1,479) | (1,332) | (1,479) | (1,373) | (1,588) | |||
Comprehensive (loss) income attributable to non-controlling interest | (105) | 148 | 315 | 462 | 357 | 572 | |||
Comprehensive loss attributable to SPAR Group, Inc. | (105) | 148 | 315 | 462 | 357 | 572 | |||
Comprehensive (loss) income attributable to non-controlling interest | $ (105) | $ 148 | $ 315 | $ 462 | $ 357 | $ 572 | |||
[1] | See Note 2 Correction of Prior Period Financial Statements. | ||||||||
[2] | See Note 2 Correction of Prior Period Financial Statements. |
Note 3 - Business and Organiz30
Note 3 - Business and Organization (Details Textual) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2015 | |
Number of Countries in which Entity Operates | 10 | |
Number of Reportable Segments | 2 | 2 |
Note 4 - Earnings Per Share (De
Note 4 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 723,000 | 771,000 |
Note 4 - Earnings Per Share - B
Note 4 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | [1] | |
Net loss attributable to SPAR Group, Inc. | $ (244) | $ (139) | |
Weighted average shares used in basic and diluted net income per share calculation (in shares) | 20,649 | 20,563 | |
Basic and diluted net loss per common share (in dollars per share) | $ (0.01) | $ (0.01) | |
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 5 - Credit Facilities (Det
Note 5 - Credit Facilities (Details Textual) MXN in Millions, AUD in Millions | Dec. 26, 2016USD ($) | Dec. 26, 2016BRL | Dec. 22, 2016USD ($) | Nov. 29, 2016USD ($) | Mar. 07, 2011USD ($) | Mar. 07, 2011JPY (¥) | Mar. 31, 2017USD ($) | Mar. 31, 2017JPY (¥) | Mar. 31, 2017MXN | Mar. 31, 2017AUD | Mar. 31, 2017BRL | Mar. 03, 2017USD ($) | Dec. 26, 2016BRL | Nov. 29, 2016BRL | Mar. 07, 2011JPY (¥) |
Mizuho Bank [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 179,000 | ¥ 20,000,000 | |||||||||||||
Debt Instrument, Periodic Payment | $ 2,000 | ¥ 238,000 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.10% | 0.10% | |||||||||||||
Loans Payable | $ 24,000 | ¥ 2,600,000 | |||||||||||||
Line of Credit Facility, Interest Rate at Period End | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | ||||||||||
Itau Bank [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 477,000 | BRL 1,500,000 | |||||||||||||
Long-term Line of Credit | $ 0 | ||||||||||||||
Debt Instrument, Interest Rate, Monthly | 2.08% | ||||||||||||||
Bradeso Bank [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 636,000 | BRL 2,000,000 | |||||||||||||
Debt Instrument, Periodic Payment | $ 58,000 | BRL 184,000 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 17.30% | 17.30% | |||||||||||||
Short-term Debt | $ 459,000 | BRL 1,445,000 | |||||||||||||
Line of Credit Facility, Interest Rate at Period End | 17.30% | 17.30% | 17.30% | 17.30% | 17.30% | ||||||||||
Sterling Credit Facility [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 9,000,000 | $ 9,000,000 | $ 9,000,000 | ||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.125% | ||||||||||||||
Percent Of Eligible Domestic Accounts Receivable Less Certain Reserves To Calculate Borrowing Availability | 85.00% | 85.00% | 85.00% | 85.00% | 85.00% | ||||||||||
Line of Credit Facility, Covenant Terms, Minimum Tangible Net Worth | $ 7,400,000 | ||||||||||||||
Line of Credit Facility, Covenant Terms, Minimum Consolidated Tangible Net Worth | $ 10,000,000 | ||||||||||||||
Line of Credit Facility, Covenant Terms, Percent of Increase in Net Profit | 50.00% | ||||||||||||||
Line of Credit Facility, Covenant Terms, Maximum Indebtedness to Tangible Net Worth Ratio | 3 | 3 | 3 | 3 | 3 | ||||||||||
Line of Credit Facility, Covenant Terms, Minimum Fixed Charge Coverage Ratio | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | ||||||||||
Line of Credit Facility, Covenant Terms, Maximum Capital Expenditures | $ 2,000,000 | ||||||||||||||
Sterling Credit Facility [Member] | Prime Rate [Member] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | 0.50% | |||||||||||||
Oxford Funding Pty Ltd [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 917,000 | AUD 1.2 | |||||||||||||
Percent Of Eligible Domestic Accounts Receivable Less Certain Reserves To Calculate Borrowing Availability | 80.00% | 80.00% | 80.00% | 80.00% | 80.00% | ||||||||||
Long-term Line of Credit | $ 252,000 | ||||||||||||||
Revolving Credit Facility [Member] | BBVA Bancomer Bank [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 267,000 | MXN 5 | |||||||||||||
Long-term Line of Credit | $ 0 | ||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 10.50% | 10.50% | 10.50% | 10.50% | 10.50% | ||||||||||
Revolving Credit Facility [Member] | Interbank Interest Rate [Member] | BBVA Bancomer Bank [Member] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4.00% |
Note 5 - Credit Facilities - Su
Note 5 - Credit Facilities - Summary of Credit and Other Debt Facilities (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2,017 | $ 6,530 |
2,018 | $ 5 |
Sterling Credit Facility [Member] | |
Line of Credit Facility, Interest Rate at Period End | 4.50% |
2,017 | $ 5,800 |
2,018 | |
Mizuho Bank [Member] | |
Line of Credit Facility, Interest Rate at Period End | 0.10% |
2,017 | $ 19 |
2,018 | $ 5 |
Oxford Funding Pty Ltd [Member] | |
Line of Credit Facility, Interest Rate at Period End | 6.40% |
2,017 | $ 252 |
2,018 | |
Bradeso Bank [Member] | |
Line of Credit Facility, Interest Rate at Period End | 17.30% |
2,017 | $ 459 |
2,018 |
Note 5 - Credit Facilities - Un
Note 5 - Credit Facilities - Unused Availability (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Unused Availability | $ 3,125 | $ 1,429 |
UNITED STATES | ||
Unused Availability | 1,716 | 500 |
AUSTRALIA | ||
Unused Availability | 665 | 688 |
MEXICO | ||
Unused Availability | 267 | 241 |
BRAZIL | ||
Unused Availability | $ 477 |
Note 6 - Related Party Transa36
Note 6 - Related Party Transactions (Details Textual) | Sep. 13, 2016 | Sep. 08, 2016USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | May 31, 2016 | Mar. 31, 2017 |
Related Party Transaction, Expenses from Transactions with Related Party | $ 7,432,000 | $ 6,373,000 | ||||
SGRP Holdings [Member] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||
Merhold Property Trust [Member] | ||||||
Number Of Vehicles Subleased | 2 | |||||
Number Of Vehicles Leased | 126 | |||||
Lessee, Operating Lease, Term of Contract | 4 years | |||||
SGRP Holdings [Member] | SPAR BSMT Joint Venture [Member] | ||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 51.00% | |||||
JKC [Member] | SPAR BSMT Joint Venture [Member] | ||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 39.00% | |||||
EILLC [Member] | SPAR BSMT Joint Venture [Member] | ||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 10.00% | |||||
SBS [Member] | ||||||
Number of Merchandising Specialists | 4,100 | |||||
Number of National, Regional, and District Administrators | 55 | 56 | ||||
Related Party Transaction, Reimbursement of Legal Expenses from Transaction with Related Party | $ 85,000 | $ 354,000 | ||||
SBS [Member] | Domestic Merchandising Specialists Field Force [Member] | ||||||
Payments for Related Party Services | $ 5,900,000 | $ 4,900,000 | ||||
Percent Of Service Provided By Related Party | 83.00% | 80.00% | ||||
SBS [Member] | Domestic Field Management [Member] | ||||||
Payments for Related Party Services | $ 1,100,000 | $ 1,100,000 | ||||
Percent Of Service Provided By Related Party | 92.00% | 93.00% | ||||
SBS [Member] | Cost Plus Fees [Member] | ||||||
Related Party Transaction, Rate | 2.96% | 4.00% | 2.00% | |||
SBS And SAS [Member] | Domestic Field Management [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 6,900,000 | $ 6,100,000 | ||||
NRS [Member] | ||||||
Majority Interest Ownership Percentage By Parent | 51.00% | 51.00% | ||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | 49.00% | ||||
C M R Meridien [Member] | ||||||
Majority Interest Ownership Percentage By Parent | 51.00% | 51.00% | ||||
Mr. Brian Mason Mr. Garry Bristow And Mr. Adrian Wingfield [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | 49.00% | ||||
Mr. Mason [Member] | Merhold Property Trust [Member] | ||||||
Related Party Ownership Percentage | 50.00% | |||||
Mr. Mason [Member] | Merhold Holding Trust [Member] | ||||||
Related Party Ownership Percentage | 46.70% | |||||
Mr. Mason and Mr. Bristow [Member] | Merhold Cape Property Trust [Member] | ||||||
Related Party Ownership Percentage | 50.00% | |||||
Mr. Bristow [Member] | Merhold Holding Trust [Member] | ||||||
Related Party Ownership Percentage | 20.00% | |||||
Mr. Wingfield [Member] | Merhold Holding Trust [Member] | ||||||
Related Party Ownership Percentage | 33.30% | |||||
NDS [Member] | ||||||
Majority Interest Ownership Percentage By Parent | 51.00% | 51.00% | ||||
Mr And Ms Yilmaz [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | 49.00% | ||||
Mr. Juan F. Medina Domenzain [Member] | CON [Member] | ||||||
Related Party Ownership Percentage | 90.00% | |||||
SPAR InfoTech, Inc. [Member] | Assistance Provided in Connection to Brazilian Acquisition [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 49,000 |
Note 6 - Related Party Transa37
Note 6 - Related Party Transactions - Transactions Between the Company and Affiliates (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |||
Services provided by affiliates | $ 7,432 | $ 6,373 | |||
Due to affiliates | [1] | 3,094 | $ 3,349 | [2] | |
Local Investors in Australia [Member] | Loans Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 244 | 231 | ||
Local Investors in Mexico [Member] | Loans Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 1,001 | 1,001 | ||
Local Investors in Brazil [Member] | Loans Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 139 | 139 | ||
Local Investors in China [Member] | Loans Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 763 | 761 | ||
NMS LLC [Member] | Loans Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 348 | |||
SBS [Member] | Accrued Expenses Due to Affiliates [Member] | |||||
Due to affiliates | [1] | 947 | $ 869 | ||
Field Merchandiser Services SBS [Member] | |||||
Services provided by affiliates | 5,875 | 4,947 | |||
Field Administration Expenses SAS [Member] | |||||
Services provided by affiliates | 1,074 | 1,138 | |||
Office And Vehicle Rental MPT [Member] | |||||
Services provided by affiliates | 15 | 12 | |||
Vehicle Rental MCPT [Member] | |||||
Services provided by affiliates | 297 | 179 | |||
Office And Vehicle Rental MHT [Member] | |||||
Services provided by affiliates | 40 | 20 | |||
Consulting and Administrative Services (CON) [Member] | |||||
Services provided by affiliates | 96 | 77 | |||
Legal Services (KMSA) [Member] | |||||
Services provided by affiliates | 24 | ||||
Warehouse Rental (JFMD) [Member] | |||||
Services provided by affiliates | $ 11 | ||||
[1] | Represent loans from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no payment terms and are due on demand and as such have been classified as current liabilities in the Company's consolidated financial statements. | ||||
[2] | See Note 2 Correction of Prior Period Financial Statements. |
Note 7 - Preferred Stock (Detai
Note 7 - Preferred Stock (Details Textual) - $ / shares | 3 Months Ended | ||||
Mar. 31, 2017 | Dec. 31, 2016 | [1] | Dec. 31, 2011 | Dec. 31, 2010 | |
Preferred Stock, Shares Authorized | 2,445,598 | 2,445,598 | 3,000,000 | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||
Preferred Stock, Shares Issued | 0 | 0 | |||
Preferred Stock, Shares Outstanding | 0 | 0 | |||
Series A Preferred Stock [Member] | |||||
Preferred Stock, Shares Authorized | 3,000,000 | ||||
Preferred Stock, Dividend Rate, Percentage | 10.00% | ||||
Preferred Stock, Conversion Basis | 1 | ||||
Common Stock For Conversion | 554,402 | ||||
Preferred Stock Number Of Authorized Shares Remaining | 2,445,598 | ||||
Preferred Stock, Shares Issued | 0 | ||||
Preferred Stock, Shares Outstanding | 0 | ||||
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 8 - Stock-based Compensa39
Note 8 - Stock-based Compensation and Other Plans (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Restricted Stock [Member] | ||
Allocated Share-based Compensation Expense | $ 9,000 | $ 12,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 3,400 | 4,700 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 65,300 | |
The 2008 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,100,000 | |
Allocated Share-based Compensation Expense | $ 46,000 | 66,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 17,400 | $ 25,300 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 373,500 | |
The 2008 Plan [Member] | SVP Sales and Marketing [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 100,000 |
Note 9 - Commitments and Cont40
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
SBS [Member] | ||
Related Party Transaction, Reimbursement of Legal Expenses from Transaction with Related Party | $ 85,000 | $ 354,000 |
Note 10 - Segment Information41
Note 10 - Segment Information (Details Textual) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015 | ||
Number of Reportable Segments | 2 | 2 | ||
Revenue, Net | $ 39,886 | $ 26,611 | [1] | |
Intersegment Eliminations [Member] | ||||
Revenue, Net | $ 0 | $ 0 | ||
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 10 - Segment Information -
Note 10 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Revenue, Net | $ 39,886 | $ 26,611 | [1] | |
Operating income (loss) | 485 | 168 | [1] | |
Interest expense | (46) | 28 | [1] | |
Other income, net | (62) | (24) | [1] | |
Income before income tax expense | 593 | 164 | [1] | |
Income tax expense | 419 | 5 | [1] | |
Net income | 174 | [2] | 159 | [1] |
Net income attributable to non-controlling interest | (418) | (298) | [1] | |
Net loss attributable to SPAR Group, Inc. | (244) | (139) | [1] | |
Depreciation and amortization | 505 | 488 | [1] | |
Capital expenditures | 360 | 372 | ||
US Segment [Member] | ||||
Revenue, Net | 11,321 | 9,752 | ||
Operating income (loss) | 64 | (297) | ||
Interest expense | 51 | 24 | ||
Other income, net | ||||
Income before income tax expense | 13 | (321) | ||
Income tax expense | 249 | (211) | ||
Net income | (236) | (110) | ||
Net income attributable to non-controlling interest | (26) | (39) | ||
Net loss attributable to SPAR Group, Inc. | (262) | (149) | ||
Depreciation and amortization | 340 | 343 | ||
Capital expenditures | 266 | 245 | ||
International Segment [Member] | ||||
Revenue, Net | 28,565 | 16,859 | ||
Operating income (loss) | 421 | 465 | ||
Interest expense | (97) | 4 | ||
Other income, net | (62) | (24) | ||
Income before income tax expense | 580 | 485 | ||
Income tax expense | 170 | 216 | ||
Net income | 410 | 269 | ||
Net income attributable to non-controlling interest | (392) | (259) | ||
Net loss attributable to SPAR Group, Inc. | 18 | 10 | ||
Depreciation and amortization | 165 | 145 | ||
Capital expenditures | $ 94 | $ 127 | ||
[1] | See Note 2 Correction of Prior Period Financial Statements. | |||
[2] | See Note 2 Correction of Prior Period Financial Statements. |
Note 10 - Segment Information43
Note 10 - Segment Information - Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Assets | $ 52,051 | $ 54,851 | [1] |
US Segment [Member] | |||
Assets | 19,313 | 22,189 | |
International Segment [Member] | |||
Assets | $ 32,738 | $ 32,662 | |
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 10 - Segment Information44
Note 10 - Segment Information - Geographic Data (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Revenue, Net | $ 39,886 | $ 26,611 | [1] |
BRAZIL | |||
Revenue, Net | $ 9,943 | ||
% of consolidated net revenue | 24.90% | ||
SOUTH AFRICA | |||
Revenue, Net | $ 6,027 | $ 4,214 | |
% of consolidated net revenue | 15.10% | 15.80% | |
MEXICO | |||
Revenue, Net | $ 4,688 | $ 4,999 | |
% of consolidated net revenue | 11.80% | 18.80% | |
CHINA | |||
Revenue, Net | $ 2,408 | $ 2,735 | |
% of consolidated net revenue | 6.00% | 10.30% | |
JAPAN | |||
Revenue, Net | $ 1,709 | $ 1,593 | |
% of consolidated net revenue | 4.30% | 6.00% | |
INDIA | |||
Revenue, Net | $ 1,612 | $ 1,304 | |
% of consolidated net revenue | 4.00% | 4.90% | |
CANADA | |||
Revenue, Net | $ 1,303 | $ 1,258 | |
% of consolidated net revenue | 3.30% | 4.70% | |
AUSTRALIA | |||
Revenue, Net | $ 810 | $ 659 | |
% of consolidated net revenue | 2.00% | 2.50% | |
TURKEY | |||
Revenue, Net | $ 65 | $ 97 | |
% of consolidated net revenue | 0.20% | 0.40% | |
International [Member] | |||
Revenue, Net | $ 28,565 | $ 16,859 | |
% of consolidated net revenue | 71.60% | 63.40% | |
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 10 - Segment Information45
Note 10 - Segment Information - Long Lived Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Long lived assets | $ 13,119 | $ 12,559 |
UNITED STATES | ||
Long lived assets | 8,526 | 8,594 |
International [Member] | ||
Long lived assets | $ 4,593 | $ 3,965 |
Note 11 - Purchase of Interes46
Note 11 - Purchase of Interests in Subsidiaries (Details Textual) | Sep. 13, 2016USD ($) | Sep. 13, 2016BRL | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) |
Sublease Agreement [Member] | ||||
Lessee, Operating Lease, Term of Contract | 1 year | 1 year | ||
Operating Lease, Monthly Rent | $ 65,700 | BRL 205,417 | ||
NM Acquisition [Member] | SPAR BSMT [Member] | ||||
Business Acquisition, Number of Acquired Entity | 2 | |||
Business Acquisition, Percentage of Voting Interests Acquired | 99.00% | 99.00% | ||
NM Acquisition [Member] | SGRP Holdings [Member] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 1.00% | 1.00% | ||
NM Acquisition [Member] | SGRP Holdings and SPAR BSMT [Member] | ||||
Business Combination, Consideration Transferred | $ 401,000 | BRL 1,312,000 | ||
Brazil Acquisition [Member] | ||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 9,900,000 | $ 33,838,000 | ||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 22,000 | $ (266,000) |
Note 11 - Purchase of Interes47
Note 11 - Purchase of Interests in Subsidiaries - Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | [1] | Sep. 13, 2016 |
Goodwill | $ 1,851 | $ 1,847 | ||
NM Acquisition [Member] | SGRP Holdings and SPAR BSMT [Member] | ||||
Cash | $ 484 | |||
Net Working Capital, net of cash | (155) | |||
Fixed Assets | 22 | |||
Intangible Assets | 336 | |||
Goodwill | 133 | |||
Assumed Liabilities | (419) | |||
Net Fair Value of Assets Acquired | $ 401 | |||
[1] | See Note 2 Correction of Prior Period Financial Statements. |
Note 11 - Purchase of Interes48
Note 11 - Purchase of Interests in Subsidiaries - Consolidated Statement of Income, Pro Forma (Details) - Brazil Acquisition [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Business combination, pro forma information, revenue of acquiree since acquisition date, actual | $ 9,900,000 | $ 33,838,000 |
Business combination, pro forma information, earnings or loss of acquiree since acquisition date, actual | $ 22,000 | $ (266,000) |
Note 12 - Summary of Signific49
Note 12 - Summary of Significant Accounting Policies (Details Textual) - December 31, 2016 [Member] | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Reclassification of Deferred Tax Assets from Current Assets to Noncurrent Assets [Member] | |
Prior Period Reclassification Adjustment | $ 471,000 |
Reclassification of Deferred Tax Liabilities to Noncurrent Assets [Member] | |
Prior Period Reclassification Adjustment | $ 2,389,000 |
Note 13 - Capital Lease Oblig50
Note 13 - Capital Lease Obligations (Details Textual) | Mar. 31, 2017 |
Capital Lease Obligations [Member] | |
Debt Instrument, Interest Rate, Effective Percentage | 5.80% |
Note 13 - Capital Lease Oblig51
Note 13 - Capital Lease Obligations - Capital Lease Assets Balances (Details) $ in Thousands | Mar. 31, 2017USD ($) |
Original cost | $ 76 |
Accumulated amortization | 6 |
Net book value | $ 70 |
Note 13 - Capital Lease Oblig52
Note 13 - Capital Lease Obligations - Future Minimum Lease Payments (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2,017 | $ 20 |
2,018 | 28 |
2,019 | 28 |
76 | |
Less amount representing interest | 6 |
Present value of net minimum lease payments included in accrued expenses and other current liabilities, and long term debt | $ 70 |