Stabilis Solutions (SLNG) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	AETI
Entity Registrant Name	American Electric Technologies Inc
Entity Central Index Key	1,043,186
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,669,650

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,098	$ 1,618
Restricted short-term investments	50	507
Accounts receivable-trade, net of allowance of $89 and $204 at September 30, 2017 and December 31, 2016	7,822	6,717
Inventories, net of allowance of $134 and $60 at September 30, 2017 and December 31, 2016	1,169	1,181
Cost and estimated earnings in excess of billings on uncompleted contracts	7,477	5,829
Prepaid expenses and other current assets	233	349
Total current assets	17,849	16,201
Property, plant and equipment, net	6,936	7,298
Advances to and investments in foreign joint ventures	10,546	10,663
Retainage receivable	772	649
Intangibles	476	527
Other assets	107	46
Total assets	36,686	35,384
Current liabilities:
Revolving line of credit		1,500
Current portion of long-term note payable		300
Short-term note payable	238
Accounts payable and other accrued expenses	11,528	9,798
Accrued payroll and benefits	1,188	1,093
Billings in excess of costs and estimated earnings on uncompleted contracts	3,003	208
Total current liabilities	15,957	12,899
Long-term note payable, net	6,132	3,900
Deferred compensation	225	260
Deferred income taxes	2,805	2,824
Total liabilities	25,119	19,883
Convertible preferred stock:
Redeemable convertible preferred stock, Series A, net of discount of $576 at September 30, 2017 and $617 at December 31, 2016; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at September 30, 2017 and December 31, 2016	4,424	4,383
Stockholders’ equity:
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,799,948 and 8,499,508 shares issued and 8,619,066 and 8,335,968 shares outstanding at September 30, 2017 and December 31, 2016	9	8
Treasury stock, at cost 180,882 and 163,540 shares at September 30, 2017 and December 31, 2016	(916)	(863)
Additional paid-in capital	13,277	12,613
Accumulated other comprehensive income	272	(2)
Retained Deficit; including accumulated statutory reserves in equity method investments of $2,887 at September 30, 2017 and December 31, 2016	(5,499)	(638)
Total stockholders’ equity	7,143	11,118
Total liabilities, convertible preferred stock and stockholders’ equity	$ 36,686	$ 35,384

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable-trade, allowance	$ 89	$ 204
Inventories, allowance	134	60
Redeemable convertible preferred stock, Series A, discount	$ 576	$ 617
Redeemable convertible preferred stock, par value	$ 0.001	$ 0.001
Redeemable convertible preferred stock, shares authorized	1,000,000	1,000,000
Redeemable convertible preferred stock, shares issued	1,000,000	1,000,000
Redeemable convertible preferred stock, shares outstanding	1,000,000	1,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	8,799,948	8,499,508
Common stock, shares outstanding	8,619,066	8,335,968
Treasury stock, shares	180,882	163,540
Equity Method Investments
Retained earnings; accumulated statutory reserves in equity method investments	$ 2,887	$ 2,887

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 13,268	$ 8,673	$ 34,258	$ 28,415
Cost of sales	12,192	9,124	32,922	27,549
Gross margin	1,076	(451)	1,336	866
Operating expenses:
Research and development	55	145	237	864
Selling and marketing	646	466	1,952	1,759
General and administrative	1,125	1,587	3,116	3,914
Total operating expenses	1,826	2,198	5,305	6,537
Loss from operations	(750)	(2,649)	(3,969)	(5,671)
Net equity income from foreign joint ventures’ operations:
Equity income from foreign joint ventures’ operations	98	215	284	367
Foreign joint ventures’ operations related expenses	(67)	(53)	(195)	(202)
Net equity income from foreign joint ventures’ operations	31	162	89	165
Loss from operations and net equity income from foreign joint ventures’ operations	(719)	(2,487)	(3,880)	(5,506)
Other income (expense):
Interest expense and other, net	(332)	(78)	(797)	200
Income (loss) before income taxes	(1,051)	(2,565)	(4,677)	(5,306)
Provision for (benefit from) income taxes	(11)	59	(83)	50
Net income (loss) before dividends on redeemable convertible preferred stock	(1,040)	(2,624)	(4,594)	(5,356)
Dividends on redeemable convertible preferred stock	(89)	(89)	(267)	(265)
Net income (loss) attributable to common stockholders	$ (1,129)	$ (2,713)	$ (4,861)	$ (5,621)
Earnings (loss) per common share:
Basic	$ (0.13)	$ (0.33)	$ (0.57)	$ (0.68)
Diluted	$ (0.13)	$ (0.33)	$ (0.57)	$ (0.68)
Weighted - average number of common shares outstanding:
Basic	8,598,461	8,327,009	8,478,848	8,294,268
Diluted	8,598,461	8,327,009	8,478,848	8,294,268

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss) before dividends on redeemable convertible preferred stock	$ (1,040)	$ (2,624)	$ (4,594)	$ (5,356)
Other comprehensive income:
Foreign currency translation gain (loss), net of deferred income taxes	172	(41)	274	(106)
Total comprehensive income (loss)	$ (868)	$ (2,665)	$ (4,320)	$ (5,462)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation gain (loss), deferred income taxes	$ (89)	$ 21	$ (142)	$ 54

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ (4,594)	$ (5,356)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income tax provision (benefit)	(162)	(97)
Equity income (loss) from foreign joint ventures’ operations	(284)	(367)
Depreciation and amortization	640	660
Stock based compensation	280	366
Gain on fixed asset disposal		(75)
Bad debt expense	45	100
Obsolete inventory expense	66	35
Deferred compensation costs	(36)	(33)
Amortization of debt issuance costs	59
Change in operating assets and liabilities:
Accounts receivable	(1,496)	(360)
Inventories	(54)	(180)
Costs and estimated earnings in excess of billings on uncompleted contracts	(1,389)	(3,049)
Prepaid expenses and other current assets	61	79
Accounts payable	2,116	3,817
Billings in excess of costs and estimated earnings on uncompleted contracts	2,795	(1,288)
Accrued liabilities and other current liabilities	(127)	188
Net cash provided by (used in) operating activities	(2,080)	(5,560)
Cash flows from investing activities:
Proceeds from sale of property and equipment and other assets		309
Purchases of property, plant and equipment and other assets	(219)	(572)
Proceeds from foreign joint ventures' operations dividends	781	589
Redemption (purchase) of certificates of deposit	457
Net cash provided by (used in) from investing activities	1,019	326
Cash flows from financing activities:
Proceeds from sale of common stock, preferred stock, and warrants	10	13
Treasury stocks purchase	(53)	(71)
Preferred stock cash dividend		(150)
Proceeds from long-term notes payable	7,000
Proceeds from short-term notes payable	200
Payments on revolving credit facility	(1,500)	457
Payments on long-term notes payable	(4,200)	(150)
Payments on short-term notes payable	(500)
Payments of debt issuance costs	(427)
Net cash provided by (used in) financing activities	530	99
Effect of exchange rate on cash	11	49
Net increase (decrease) in cash and cash equivalents	(520)	(5,086)
Cash and cash equivalents, beginning of period	1,618	7,989
Cash and cash equivalents, end of period	1,098	2,903
Supplemental disclosures of cash flow information:
Interest paid	611	$ 162
Non-cash investing and financing transactions:
Issuance of shares of common stock on accrued preferred dividends payables	$ 375

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of American Electric Technologies, Inc. and its wholly-owned subsidiaries (“AETI”, “the Company”, “our”, “we”, “us”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and include all adjustments which, in the opinion of management, are necessary for fair financial statement presentation.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings per Common Share	2. Earnings per Common Share Basic earnings per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the three and nine months ended September 30, 2017 and 2016 . Diluted earnings per share is computed by dividing net income (loss) attributable to common stockholders, by the sum of (1) the weighted-average number of shares of common stock outstanding during the period, (2) the dilutive effect of the assumed exercise of convertible instruments and (3) the dilutive effect of the exercise of stock options and other stock units to our common stock. For the three and nine months ended September 30, 2017, common stock equivalents from convertible instruments, stock options and other stock units have been excluded from the calculation of weighted average diluted shares because all such instruments were anti-dilutive. The following table sets forth the computation of basic and diluted weighted average common shares. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Weighted average basic shares 8,598,461 8,327,009 8,478,848 8,294,268 Dilutive effect of preferred stock, warrants, stock options and restricted stock units - - - - Total weighted average diluted shares 8,598,461 8,327,009 8,478,848 8,294,268

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	3. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU No. 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU No. 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU No. 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). In July 2015, the FASB issued ASU No. 2015-14 which delayed the effective date of ASU No. 2014-09 by one year (effective for annual periods beginning after December 15, 2017). AETI is evaluating the impact of ASU 2014-09 and currently expects that the standard will not have a material impact on the Company’s consolidated financial statements other than enhanced disclosures related to the disaggregation of revenues from contracts with customers, the Company’s performance obligations and any significant judgments. AETI intends to adopt the new standard using the modified retrospective method at the date of adoption. In July 2015, the FASB issued ASU No. 2015-11. Inventory (Topic 330): Simplifying the Measurement of Inventory, which is intended to converge U.S. GAAP on this topic with International Financial Reporting Standards (“IFRS”). ASU No. 2015-11 focuses on the premeasurement of inventory measured using any method other than LIFO, for example, average cost. Inventory within the scope of ASU No. 2015-11 is required to be measured at the lower of cost and net realizable value. When evidence exists that the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. That loss may be required, for example, due to damage, physical deterioration, obsolescence, changes in price levels, or other causes. For public business entities, the amendments in ASU No. 2015-11 are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of ASU No. 2015-11 did not have a significant impact on the Company’s consolidated financial position, results of operations and disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. ASU No. 2016-01 requires (1) an entity to measure equity instruments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) at fair value with changes in fair value recognized in net income; (2) entities to use the exit price notation when measuring the fair value of financial instruments for disclosure purposes; (3) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (4) elimination of the requirement to disclose the methods and significant assumptions used to estimate fair value that is required to be disclosed for financial instruments measured at amortized cost. ASU No. 2016-01 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. Management is currently evaluating the future impact of ASU No. 2016-01 on the Company’s consolidated financial position, results of operations and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases, which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU No. 2016-02, lessor accounting is largely unchanged. ASU No. 2016-02 is effective for fiscal years beginning after December 15, 2018 with early application permitted. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases expiring before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is currently evaluating the future impact of ASU No. 2016-02 on the Company’s consolidated financial position, results of operations and disclosures. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, to clarify two aspects of Topic 606: (i) identifying performance obligations; and (ii) the licensing implementation guidance. The amendments do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for ASU No. 2016-10 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-10 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. ASU No. 2016-12 provides narrow-scope improvements to the guidance on collectability, noncash consideration, and completed contracts at transition. The amendment also provides a practical expedient for contract modifications at transition and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers and are expected to reduce the judgment necessary to comply with Topic 606. The effective date and transition requirements for ASU No. 2016-12 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-12 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU No. 2016-13 eliminates the probable initial recognition threshold in current U.S. GAAP and, instead, requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, with early application permitted in annual periods beginning after December 15, 2018. The amendments of ASU No. 2016-13 should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management is currently evaluating the future impact of ASU No. 2016-13 on the Company’s consolidated financial position, results of operations and disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 addresses eight specific cash flow issues and is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU No. 2016-15 is effective for reporting periods beginning after December 15, 2017. Early adoption is permitted. Management does not expect the adoption of ASU No. 2016-15 to have a significant impact on the Company’s consolidated financial position, results of operations and disclosures because it on affects presentation of specific items within the cash flow statement. In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. ASU No. 2016-20 allows entities not to make quantitative disclosures about remaining performance obligations in certain cases and require entities that use any of the new or previously existing optional exemptions to expand their qualitative disclosures. The amendment also clarifies narrow aspects of ASC 606, including contract modifications, contract costs, and the balance sheet classification of items as contract assets versus receivables, or corrects unintended application of the guidance. The effective date and transition requirements for ASU No. 2016-20 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-20 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. ASU No. 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of a business or as acquisitions (or disposals) of assets. ASU No. 2017-01 is effective for annual periods beginning after December 15, 2018, with early adoption permitted under certain circumstances. The amendments of ASU No. 2017-01 should be applied prospectively as of the beginning of the period of adoption. Management is currently evaluating the future impact of ASU No. 2017-01 on the Company’s consolidated financial position, results of operations and disclosures. In January 2017, the FASB issued ASU No. 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments – Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings. The amendments in this update relate to disclosures of the impact of recently issued accounting standards. The SEC staff’s view that a registrant should evaluate ASC updates that have not yet been adopted to determine the appropriate financial disclosures about the potential material effects of the updates on the financial statements when adopted. If a registrant does not know or cannot reasonably estimate the impact of an update, then in addition to making a statement to that effect, the registrant should consider additional qualitative financial statement disclosures to assist the reader in assessing the significance of the impact. The staff expects the additional qualitative disclosures to include a description of the effect of the accounting policies expected to be applied compared to current accounting policies. Also, the registrant should describe the status of its process to implement the new standards and the significant implementation matters yet to be addressed. The amendments specifically addressed recent ASC amendments to ASU No. 2016-13, Financial Instruments – Credit Losses, ASU No. 2016-02, Leases, and ASU No. 2014-09, Revenue from Contracts with Customers, although, the amendments apply to any subsequent amendments to guidance in the ASC. ASU No. 2017-03 is effective upon issuance and did not have a significant impact on the Company’s consolidated financial position, results of operations and disclosures.

Investments in Foreign Joint Ve

Investments in Foreign Joint Ventures	9 Months Ended
	Sep. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Investments in Foreign Joint Ventures	4. Investments in Foreign Joint Ventures We have interests in two joint ventures, outside of the United States of America (“U.S.”) which are accounted for using the equity method: BOMAY Electric Industries Company, Ltd. (“BOMAY”), in which the Company holds a 40% interest, Baoji Oilfield Machinery Co., Ltd. (a subsidiary of China National Petroleum Corporation) holds a 51% interest, and AA Energies, Inc., holds a 9% interest. BOMAY was formed in 2006 in China with a term of 12 years and will expire in 2018. The term of the joint venture may be extended upon agreement of all parties. In such case, the joint venture shall apply for the extension to the relevant Chinese authority six months before expiry of the venture. The company is working with our Joint Venture partners on extending the joint venture. At this time, AETI has no indication that the joint venture will not be extended beyond the 2018 expiration date; and, M&I Electric Far East, Ltd. ("MIEFE”), in which the Company currently owns 41% of the joint venture with our joint venture partner, Sonepar, owning 51% and MIEFE’s general manager owning the remaining 8%. In 2016, due to market conditions, the business suspended current operations and the investment in MIEFE was written down to zero excluding foreign currency translation. Sales to joint ventures totaled $0.00 and $0.02 for the three months ended September 30, 2017 and 2016. Sales to joint ventures totaled $0.01 million and $0.07 million for the nine months ended September 30, 2017 and 2016. Summary (unaudited) financial information of our foreign joint ventures in U.S. dollars was as follows at September 30, 2017 and December 31, 2016 and for the three and nine months ended September 30, 2017 and 2016 (in thousands): BOMAY MIEFE 2017 2016 2017 2016 Assets: Total current assets $ 53,015 $ 47,700 $ 179 $ 425 Total non-current assets 3,532 3,589 16 17 Total assets $ 56,547 $ 51,289 $ 195 $ 442 Liabilities and equity: Total liabilities $ 29,726 $ 24,196 $ 258 $ 551 Total joint ventures’ equity 26,821 27,093 (63 ) (109 ) Total liabilities and equity $ 56,547 $ 51,289 $ 195 $ 442 Three Months Ended September 30, BOMAY MIEFE 2017 2016 2017 2016 Revenue $ 6,076 $ 5,557 $ 46 $ 307 Gross Profit $ 1,160 $ 1,582 $ 10 $ 133 Earnings $ 245 $ 537 $ 11 $ 121 Nine Months Ended September 30, BOMAY MIEFE 2017 2016 2017 2016 Revenue $ 17,225 $ 29,544 $ 80 $ 1,147 Gross Profit $ 3,805 $ 4,844 $ 22 $ 451 Earnings $ 709 $ 1,602 $ 51 $ (498 ) The following is a summary of activity in investments in foreign joint ventures for the nine months ended September 30, 2017 (unaudited): September 30, 2017 BOMAY** MIEFE TOTAL (in thousands) Investments in foreign joint ventures: Balance at December 31, 2016 $ 10,450 $ 213 $ 10,663 Equity in earnings (loss) in 2017 284 - $ 284 Dividend distributions in 2017 (781 ) - $ (781 ) Foreign currency translation adjustment 382 (2 ) $ 380 Investments, end of period $ 10,335 $ 211 $ 10,546 Components of investments in foreign joint ventures: Investment in joint ventures $ 2,033 $ 14 $ 2,047 Undistributed earnings 7,816 (14 ) $ 7,802 Foreign currency translation 486 211 $ 697 Investments, end of period $ 10,335 $ 211 $ 10,546 ** Accumulated statutory reserves of $2.89 million Under the equity method of accounting, the Company’s share of the joint ventures’ operations’ earnings or loss is recognized in the condensed consolidated statements of operations as equity income (loss) from foreign joint ventures’ operations. Joint venture income increases the carrying value of the joint venture investment and joint venture losses, as well as dividends received from the joint ventures, reduce the carrying value of the investment. The Company reviews its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable or the inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Based on this analysis, there was no indication of impairment.

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Notes Payable	5. Notes Payable Senior Secured Term Note On March 23, 2017, the Company and its subsidiaries, M&I Electric Industries, Inc. and South Coast Electric Systems, LLC (collectively, the “Sellers”) issued and sold to HD Special-Situations III, L.P. (the “Purchaser”) a $7.00 million principal amount Senior Secured Term Note (the “Note”) with principal of $0.50 million due and paid on June 30, 2017 with the balance due 48 months after issuance for cash at par pursuant to a Note Purchase Agreement (the “Purchase Agreement”). Proceeds from the sale of the Note were used to fully repay and terminate the Company’s prior revolving credit facilities with approximately $1.00 million being available for the Company’s working capital and general business purposes. The Note bears interest at 11.5% per annum payable monthly in arrears. The Note is secured by a first-priority lien on substantially all existing and after-acquired personal property assets and real estate owned by the Sellers (with certain exceptions) and is subject to covenants restricting the Company’s ability to incur debt, grant liens, pay dividends, engage in transactions with affiliates and other customary covenants for financing of this type (subject to certain exceptions). The Note is subject to an interest “make-whole” provision such that any prepayment of the principal thereunder in excess of $1.50 million (the “Prepayment Threshold”) within one year of the date of issuance (the “Make-Whole Period”) shall be subject to the payment of a prepayment premium, on the date of such prepayment, in an amount based on an interest rate of 11.5% per annum of the prepayment amount in excess of the Prepayment Threshold for the portion of the Make-Whole Period that will remain after the date that the prepayment is made. After the one year Make- Whole Period the Note may be prepaid in part or in full with no penalty. The Purchase Agreement contains representations and affirmative, negative and financial covenants usual and customary for financing of this type, including covenants that place conditions upon the Company’s ability to merge or consolidate with other companies, sell any material part of their business or property, incur liens, and pay dividends on, make distributions on or redeem their equity interests. Other covenants in the Purchase Agreement require the Company to maintain minimum monthly revenue, maintain minimum monthly EBITDA, maintain minimum monthly cash on hand, maintain a minimum monthly debt service coverage ratio, maintain a maximum debt-to-EBITDA ratio, maintain a minimum monthly collateral coverage ratio and obtain consent of the Purchaser for certain capital expenditAs of September 30, 2017, the Company was not in compliance with the minimum monthly EBITDA covenant but was granted a waiver for the period. There can be no assurances that covenants can be met in the future and if not met, waivers can be obtained. In the event that the Company fails to meet covenants in the future, the Company may not be able to obtain the necessary waivers or amendments to remain in compliance with the Purchase Agreement and the Purchaser may declare a default and cause all of the Company’s outstanding indebtedness under the Purchase Agreement to become immediately due and payable or otherwise subject to an additional rate of 4.0% per annum and scheduled amortization of principal. As of September 30, 2017, the Company was not in compliance with the minimum monthly EBITDA covenant but was granted a waiver for the period. There can be no assurances that covenants can be met in the future and if not met, waivers can be obtained. In the event that the Company fails to meet covenants in the future, the Company may not be able to obtain the necessary waivers or amendments to remain in compliance with the Purchase Agreement and the Purchaser may declare a default and cause all of the Company’s outstanding indebtedness under the Purchase Agreement to become immediately due and payable or otherwise subject to an additional rate of 4.0% per annum and scheduled amortization of principal. On November 13, 2017, the Company entered into an agreement modifying the terms of its Senior Secured Term Note. The modification included a waiver of the EBITDA covenant violation as of September 30, 2017 and revisions to the original revenue and EBITDA covenants along with the requirement of minimum principal reductions of $30,000 per month beginning in April 2018. In consideration for the modified terms, the Company issued 500,000 warrants to purchase the Company’s common stock at an exercise price of $2.26 which expire in November 2023. On June 6, 2017, the Company’s subsidiary, M&I Brazil, entered into a Loan Agreement with the former chairman of AETI. The Loan Agreement provides the Company with a $0.30 million loan facility of which $0.20 million is drawn and is outstanding as of September 30, 2017 and with any balance outstanding due June 7, 2018. Under the loan agreement, the interest rate on the loan facility is 10.0%, per annum, payable each quarter. The loan facility is secured by the assets held by M&I Brazil.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	6. Inventories Inventories consisted of the following at September 30, 2017 (unaudited) and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Raw materials $ 595 $ 513 Work-in-process 708 728 1,303 1,241 Less: allowance (134 ) (60 ) Total inventories $ 1,169 $ 1,181

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The tax provision for the three and nine months ended September 30, 2017 and 2016 reflect a 34% U.S. tax rate related to the equity in earnings from foreign joint ventures’ operations, net of dividends received and taxes paid on dividends from China, resulting in an effective rate of 1% and 2%, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Fair Value Measurements	8. Fair Value of Financial Instruments and Fair Value Measurements The carrying amounts of cash and cash equivalents, trade accounts receivable and accounts payable approximate fair value as of September 30, 2017 and December 31, 2016 because of the relatively short maturity of these instruments. The carrying amount of our long-term note payable approximates fair value as the interest rate on the note is based on a market rate.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock and Common Stock	9 Months Ended
	Sep. 30, 2017
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock and Common Stock	9. Redeemable Convertible Preferred Stock and Common Stock Redeemable Convertible Preferred Stock In conjunction with the issuance of the Redeemable Convertible Preferred Stock, Series A in May 2012, warrants to purchase 325,000 shares of our common stock (the “Warrants”) were issued. The initial value allocated to the Warrants was recognized as a discount on the Series A Convertible Preferred Stock, with a corresponding charge to additional paid-in capital. The discount related to the Warrants is accreted to retained earnings through the scheduled redemption date of the redeemable Series A Convertible Preferred Stock. Discount accretion totaled $0.01 million for the three months ended September 30 for both 2017 and 2016 The Series A Convertible Preferred Stock accrues cumulative dividends at a rate of 6% per annum payable quarterly in cash or with our Common Stock, at the option of the Company, based on the then current liquidation market price value of the Series A Convertible Preferred Common Stock which is currently $5.00 per share. Quarterly dividends not paid in cash or Common Stock accumulate without interest and must be fully paid before any dividend or other distribution can be paid on or declared and set apart for the Common Stock or conversion of the Series A Convertible Preferred Stock to Common Stock. At September 30, 2017 and December 31, 2016, the company had accrued but unpaid dividends totaling $0.08 million and $0.23 million, respectively, which is included in accounts payable and other accrued expenses in the condensed consolidated balance sheet. For the nine months ended September 30, 2017, a total of 198,416 common shares have been issued On or after April 30, 2017, the holders of a majority of the outstanding shares of the Series A Convertible Preferred Stock may require the Company to redeem the Series A Convertible Preferred Stock at a redemption price equal to the lessor of (i) the liquidation preference per share (initially $5.00 per share, subject to adjustments for certain future equity transactions defined in the Securities Purchase Agreement) and (ii) the fair market value of the Series A Convertible Preferred Stock per share, as determined in good faith by the Company’s Board of Directors. As of September 30, 2017 and December 31, 2016, the redemption price per share was $5.00 in both years. The redemption price, plus any accrued and unpaid dividends, shall be payable in 36 equal monthly installments plus interest at an annual rate of 6%. In connection with the issuance of the Company’s senior secured Term Note, described in Note 5, the Company has agreed with the Purchaser of the Term Note and the holder of the Preferred Stock (the “Holder”) not to declare, authorize or pay any cash dividends on the Preferred Stock until the earlier of (i) March 22, 2018, or (ii) the date the obligations under the Note Purchase Agreement have been paid in full (the “Standstill Period”), without the prior written consent of the Purchaser. Following the expiration of the Standstill Period, for so long as the obligations under the Note Purchase Agreement remain outstanding, the Company may, at its sole discretion, declare, authorize or pay dividends in cash on the Preferred Stock so long as no event of default exists under the Term Note or would result therefrom. The Holder also agreed that it shall not exercise its rights to require the Company to redeem any of the Preferred Stock during the Standstill Period. Following the expiration of the Standstill Period, so long as the obligations under the Note Purchase Agreement remain outstanding, the Holder may compel the Company to redeem shares of Preferred Stock provided no event of default exists under the Term Note or would result from such redemption. In consideration for the Holder’s consent to the foregoing restrictions on the payment of cash dividends on or redemption of the Preferred Stock, the Company entered into an agreement with the Holder (the “Repricing Agreement”) on August 1, 2017. Pursuant to the Repricing Agreement, each share of Series A Preferred Stock will be initially convertible, at the option of the holder, into one (1) share of common stock at a conversion price of $2.26 per share of common stock, so that the Series A Preferred Stock sold to the Holder are currently convertible into an aggregate of 2,212,389 shares of common stock. In addition, Pursuant to the Repricing Agreement, the Series A Warrants sold to the Holder will be exercisable for 125,000 shares of common stock at an initial exercise price of $2.72 per share and the Series B Warrants sold to the Holder will be exercisable for 200,000 shares of common stock at an initial exercise price of $3.17 per share. In order to comply with the rules of the NASDAQ Stock Market, the Repricing Agreement prohibits the issuance of more than 19.99% of our common stock or voting power outstanding to the Holder as of the date of the Repricing Agreement without stockholder approval. The Company has agreed to seek the approval of its stockholders as soon as practicable. In the event that stockholder approval is received and the Holder were to convert all of its Series A Preferred Stock into common stock and exercised all of its Common Stock Purchase Warrants for cash, the Holder would be issued more than 19.99% of our common stock and voting power as of the date of the Repricing Agreement. This agreement was approved by a committee of the Board of Directors comprised solely of independent directors. Common Stock For the nine months ended September 30, 2017, the Company issued a total of 260,163 shares of common stock. The Company issued 198,416 shares of common stock as payment of accrued preferred dividends, as noted above, with the remaining 61,747 shares issued in connection with the Company’s Employee Stock Purchase Plan and upon vesting of restricted stock units.

Recently Issued Accounting Pr17

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU No. 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU No. 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU No. 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). In July 2015, the FASB issued ASU No. 2015-14 which delayed the effective date of ASU No. 2014-09 by one year (effective for annual periods beginning after December 15, 2017). AETI is evaluating the impact of ASU 2014-09 and currently expects that the standard will not have a material impact on the Company’s consolidated financial statements other than enhanced disclosures related to the disaggregation of revenues from contracts with customers, the Company’s performance obligations and any significant judgments. AETI intends to adopt the new standard using the modified retrospective method at the date of adoption. In July 2015, the FASB issued ASU No. 2015-11. Inventory (Topic 330): Simplifying the Measurement of Inventory, which is intended to converge U.S. GAAP on this topic with International Financial Reporting Standards (“IFRS”). ASU No. 2015-11 focuses on the premeasurement of inventory measured using any method other than LIFO, for example, average cost. Inventory within the scope of ASU No. 2015-11 is required to be measured at the lower of cost and net realizable value. When evidence exists that the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. That loss may be required, for example, due to damage, physical deterioration, obsolescence, changes in price levels, or other causes. For public business entities, the amendments in ASU No. 2015-11 are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of ASU No. 2015-11 did not have a significant impact on the Company’s consolidated financial position, results of operations and disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. ASU No. 2016-01 requires (1) an entity to measure equity instruments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) at fair value with changes in fair value recognized in net income; (2) entities to use the exit price notation when measuring the fair value of financial instruments for disclosure purposes; (3) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (4) elimination of the requirement to disclose the methods and significant assumptions used to estimate fair value that is required to be disclosed for financial instruments measured at amortized cost. ASU No. 2016-01 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. Management is currently evaluating the future impact of ASU No. 2016-01 on the Company’s consolidated financial position, results of operations and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases, which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU No. 2016-02, lessor accounting is largely unchanged. ASU No. 2016-02 is effective for fiscal years beginning after December 15, 2018 with early application permitted. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases expiring before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is currently evaluating the future impact of ASU No. 2016-02 on the Company’s consolidated financial position, results of operations and disclosures. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, to clarify two aspects of Topic 606: (i) identifying performance obligations; and (ii) the licensing implementation guidance. The amendments do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for ASU No. 2016-10 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-10 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. ASU No. 2016-12 provides narrow-scope improvements to the guidance on collectability, noncash consideration, and completed contracts at transition. The amendment also provides a practical expedient for contract modifications at transition and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers and are expected to reduce the judgment necessary to comply with Topic 606. The effective date and transition requirements for ASU No. 2016-12 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-12 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU No. 2016-13 eliminates the probable initial recognition threshold in current U.S. GAAP and, instead, requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, with early application permitted in annual periods beginning after December 15, 2018. The amendments of ASU No. 2016-13 should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management is currently evaluating the future impact of ASU No. 2016-13 on the Company’s consolidated financial position, results of operations and disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 addresses eight specific cash flow issues and is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU No. 2016-15 is effective for reporting periods beginning after December 15, 2017. Early adoption is permitted. Management does not expect the adoption of ASU No. 2016-15 to have a significant impact on the Company’s consolidated financial position, results of operations and disclosures because it on affects presentation of specific items within the cash flow statement. In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. ASU No. 2016-20 allows entities not to make quantitative disclosures about remaining performance obligations in certain cases and require entities that use any of the new or previously existing optional exemptions to expand their qualitative disclosures. The amendment also clarifies narrow aspects of ASC 606, including contract modifications, contract costs, and the balance sheet classification of items as contract assets versus receivables, or corrects unintended application of the guidance. The effective date and transition requirements for ASU No. 2016-20 are the same as the effective date and transition requirements for ASU No. 2014-09. Management is currently evaluating the future impact of ASU No. 2016-20 on the Company’s consolidated financial position, results of operations and disclosures. Please refer to ASU No. 2014-09 above. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. ASU No. 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of a business or as acquisitions (or disposals) of assets. ASU No. 2017-01 is effective for annual periods beginning after December 15, 2018, with early adoption permitted under certain circumstances. The amendments of ASU No. 2017-01 should be applied prospectively as of the beginning of the period of adoption. Management is currently evaluating the future impact of ASU No. 2017-01 on the Company’s consolidated financial position, results of operations and disclosures.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Weighted Average Common Shares	The following table sets forth the computation of basic and diluted weighted average common shares. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Weighted average basic shares 8,598,461 8,327,009 8,478,848 8,294,268 Dilutive effect of preferred stock, warrants, stock options and restricted stock units - - - - Total weighted average diluted shares 8,598,461 8,327,009 8,478,848 8,294,268

Investments in Foreign Joint 19

Investments in Foreign Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Schedule of Financial Information of Foreign Joint Ventures	Summary (unaudited) financial information of our foreign joint ventures in U.S. dollars was as follows at September 30, 2017 and December 31, 2016 and for the three and nine months ended September 30, 2017 and 2016 (in thousands): BOMAY MIEFE 2017 2016 2017 2016 Assets: Total current assets $ 53,015 $ 47,700 $ 179 $ 425 Total non-current assets 3,532 3,589 16 17 Total assets $ 56,547 $ 51,289 $ 195 $ 442 Liabilities and equity: Total liabilities $ 29,726 $ 24,196 $ 258 $ 551 Total joint ventures’ equity 26,821 27,093 (63 ) (109 ) Total liabilities and equity $ 56,547 $ 51,289 $ 195 $ 442 Three Months Ended September 30, BOMAY MIEFE 2017 2016 2017 2016 Revenue $ 6,076 $ 5,557 $ 46 $ 307 Gross Profit $ 1,160 $ 1,582 $ 10 $ 133 Earnings $ 245 $ 537 $ 11 $ 121 Nine Months Ended September 30, BOMAY MIEFE 2017 2016 2017 2016 Revenue $ 17,225 $ 29,544 $ 80 $ 1,147 Gross Profit $ 3,805 $ 4,844 $ 22 $ 451 Earnings $ 709 $ 1,602 $ 51 $ (498 )
Schedule of Activity in Investment in Foreign Joint Ventures	The following is a summary of activity in investments in foreign joint ventures for the nine months ended September 30, 2017 (unaudited): September 30, 2017 BOMAY** MIEFE TOTAL (in thousands) Investments in foreign joint ventures: Balance at December 31, 2016 $ 10,450 $ 213 $ 10,663 Equity in earnings (loss) in 2017 284 - $ 284 Dividend distributions in 2017 (781 ) - $ (781 ) Foreign currency translation adjustment 382 (2 ) $ 380 Investments, end of period $ 10,335 $ 211 $ 10,546 Components of investments in foreign joint ventures: Investment in joint ventures $ 2,033 $ 14 $ 2,047 Undistributed earnings 7,816 (14 ) $ 7,802 Foreign currency translation 486 211 $ 697 Investments, end of period $ 10,335 $ 211 $ 10,546 ** Accumulated statutory reserves of $2.89 million

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following at September 30, 2017 (unaudited) and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Raw materials $ 595 $ 513 Work-in-process 708 728 1,303 1,241 Less: allowance (134 ) (60 ) Total inventories $ 1,169 $ 1,181

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic and Diluted Weighted Average Common Shares (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted average basic shares	8,598,461	8,327,009	8,478,848	8,294,268
Total weighted average diluted shares	8,598,461	8,327,009	8,478,848	8,294,268

Investments in Foreign Joint 22

Investments in Foreign Joint Ventures - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Joint_Ventures	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Schedule Of Equity Method Investments [Line Items]
Interest in joint venture foreign | Joint_Ventures			2
Net sales	$ 13,268,000	$ 8,673,000	$ 34,258,000	$ 28,415,000
Affiliated Entity
Schedule Of Equity Method Investments [Line Items]
Net sales	$ 0	$ 20,000	$ 10,000	$ 70,000
BOMAY
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	40.00%		40.00%
Joint venture expiration year			2,018
Joint venture term			12 years
Baoji Oilfield Machinery Co. Ltd.
Schedule Of Equity Method Investments [Line Items]
Interest in Joint Venture	51.00%		51.00%
AA Energies, Inc.
Schedule Of Equity Method Investments [Line Items]
Interest in Joint Venture	9.00%		9.00%
MIEFE
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	41.00%		41.00%
Written down of equity method investment					$ 0
MIEFE's general manager
Schedule Of Equity Method Investments [Line Items]
Interest in Joint Venture	8.00%		8.00%
Sonepar of France
Schedule Of Equity Method Investments [Line Items]
Interest in Joint Venture	51.00%		51.00%

Investments in Foreign Joint 23

Investments in Foreign Joint Ventures - Schedule of Financial Information of Foreign Joint Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
BOMAY
Assets:
Total current assets	$ 53,015		$ 53,015		$ 47,700
Total non-current assets	3,532		3,532		3,589
Total assets	56,547		56,547		51,289
Liabilities and equity:
Total liabilities	29,726		29,726		24,196
Total joint ventures’ equity	26,821		26,821		27,093
Total liabilities and equity	56,547		56,547		51,289
Revenue	6,076	$ 5,557	17,225	$ 29,544
Gross Profit	1,160	1,582	3,805	4,844
Earnings	245	537	709	1,602
MIEFE
Assets:
Total current assets	179		179		425
Total non-current assets	16		16		17
Total assets	195		195		442
Liabilities and equity:
Total liabilities	258		258		551
Total joint ventures’ equity	(63)		(63)		(109)
Total liabilities and equity	195		195		$ 442
Revenue	46	307	80	1,147
Gross Profit	10	133	22	451
Earnings	$ 11	$ 121	$ 51	$ (498)

Investments in Foreign Joint 24

Investments in Foreign Joint Ventures - Schedule of Activity in Investment in Foreign Joint Ventures (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Investments in foreign joint ventures:
Balance, beginning of year	$ 10,663
Equity in earnings (loss)	284
Dividend distributions	(781)
Foreign currency translation adjustment	380
Balance, end of year	10,546
Components of investments in foreign joint ventures:
Investment in joint ventures	2,047
Undistributed earnings	7,802
Foreign currency translation	697
Investments, end of period	10,546	$ 10,663
BOMAY
Investments in foreign joint ventures:
Balance, beginning of year	10,450
Equity in earnings (loss)	284
Dividend distributions	(781)
Foreign currency translation adjustment	382
Balance, end of year	10,335
Components of investments in foreign joint ventures:
Investment in joint ventures	2,033
Undistributed earnings	7,816
Foreign currency translation	486
Investments, end of period	10,335
MIEFE
Investments in foreign joint ventures:
Balance, beginning of year	213
Foreign currency translation adjustment	(2)
Balance, end of year	211
Components of investments in foreign joint ventures:
Investment in joint ventures	14
Undistributed earnings	(14)
Foreign currency translation	211
Investments, end of period	$ 211

Investments in Foreign Joint 25

Investments in Foreign Joint Ventures - Schedule of Activity in Investment in Foreign Joint Ventures (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Equity Method Investments
Schedule Of Equity Method Investments [Line Items]
Accumulated statutory reserves in equity method investments	$ 2,887	$ 2,887

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - HD Special-Situations III, L.P. - USD ($)	Nov. 13, 2017	Jun. 30, 2017	Jun. 06, 2017	Mar. 23, 2017	Sep. 30, 2017
Senior Secured Term Note
Debt Instrument [Line Items]
Debt principal amount				$ 7,000,000
Debt principal periodic payment amount		$ 500,000
Debt instrument, initial repayment date				Jun. 30, 2017
Debt instrument, payment terms					$7.00 million principal amount Senior Secured Term Note (the “Note”) with principal of $0.50 million due and paid on June 30, 2017 with the balance due 48 months after issuance for cash at par pursuant to a Note Purchase Agreement (the “Purchase Agreement”).
Interest rate				11.50%
Debt instrument, description incase of prepayment principal					The Note is subject to an interest “make-whole” provision such that any prepayment of the principal thereunder in excess of $1.50 million (the “Prepayment Threshold”) within one year of the date of issuance (the “Make-Whole Period”) shall be subject to the payment of a prepayment premium, on the date of such prepayment, in an amount based on an interest rate of 11.5% per annum of the prepayment amount in excess of the Prepayment Threshold for the portion of the Make-Whole Period that will remain after the date that the prepayment is made.
Debt instrument, prepayment of principal after Make Whole Period					After the one year Make- Whole Period the Note may be prepaid in part or in full with no penalty.
Senior Secured Term Note | Subsequent Event
Debt Instrument [Line Items]
Minimum principal reductions per month	$ 30,000
Minimum principal reductions, begining period	2018-04
Warrants issued to purchase of common stock	500,000
Warrant exercise price per share	$ 2.26
Warrants expiration period	2023-11
Senior Secured Term Note | Minimum
Debt Instrument [Line Items]
Prepayment Threshold				$ 1,500,000
Senior Secured Term Note | Purchase Agreement
Debt Instrument [Line Items]
Debt, remaining principal payable period					48 months
Additional interest rate in case of default					4.00%
Senior Secured Term Note | Loan Agreement | M&I Brazil | Former Chairman of AETI
Debt Instrument [Line Items]
Interest rate			10.00%
Line of credit facility, agreement date			Jun. 6, 2017
Line of credit facility, maximum borrowing capacity			$ 300,000
Loan facility drawn and outstanding					$ 200,000
Debt instrument, interest rate terms					the interest rate on the loan facility is 10.0%, per annum, payable each quarter.
Debt instrument, balance outstanding due date			Jun. 7, 2018
Revolving Credit Facility
Debt Instrument [Line Items]
Repayments of lines of credit				$ 1,000,000

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 595	$ 513
Work-in-process	708	728
Inventory, Gross	1,303	1,241
Less: allowance	(134)	(60)
Total inventories	$ 1,169	$ 1,181

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
US tax rate	34.00%	34.00%	34.00%	34.00%
Effective tax rate	1.00%	2.00%	1.00%	2.00%

Redeemable Convertible Prefer29

Redeemable Convertible Preferred Stock and Common Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Installment$ / sharesshares	Sep. 30, 2016USD ($)	Aug. 01, 2017$ / sharesshares	Dec. 31, 2016USD ($)$ / shares	May 31, 2012shares
Temporary Equity [Line Items]
Accretion amount | $	$ 10	$ 10	$ 40	$ 40
Common Stock
Temporary Equity [Line Items]
Shares issued during period			260,163
Common Stock | Restricted Stock Units (RSUs)
Temporary Equity [Line Items]
Shares issued in connection with Employee Stock Purchase Plan and vesting of restricted stock units			61,747
Maximum | Repricing Agreement
Temporary Equity [Line Items]
Limitations for issuance of common stock or voting power outstanding to holder, in percentage					19.99%
Series A Convertible Preferred Stock
Temporary Equity [Line Items]
Warrants to purchase common stock							325,000
Cumulative dividends at a rate			6.00%
Redeemable convertible preferred stock, liquidation preference per share | $ / shares	$ 5		$ 5
Common stock issued as payment of accrued preferred dividends			198,416
Series A Convertible Preferred Stock | Common Stock | Repricing Agreement
Temporary Equity [Line Items]
Conversion price per share | $ / shares					$ 2.26
Convertible preferred stock, shares issuable upon conversion					2,212,389
Series A Convertible Preferred Stock | Scenario, Plan
Temporary Equity [Line Items]
Redeemable convertible preferred stock, liquidation preference per share | $ / shares	5		$ 5
Redemption price per share | $ / shares	$ 5		$ 5			$ 5
Number of redemption price, accrued and unpaid dividends installment payments | Installment			36
Annual interest rate on redemption value payable			6.00%
Series A Convertible Preferred Stock | Scenario, Plan | Maximum
Temporary Equity [Line Items]
Majority outstanding shares redeemable date			Apr. 30, 2017
Series A Convertible Preferred Stock | Accounts Payable and Other Accrued Expenses
Temporary Equity [Line Items]
Total accrued but unpaid dividends | $	$ 80		$ 80			$ 230
Series A Warrants | Common Stock | Repricing Agreement
Temporary Equity [Line Items]
Warrants to purchase common stock					125,000
Warrant exercise price per share | $ / shares					$ 2.72
Series B Warrants | Common Stock | Repricing Agreement
Temporary Equity [Line Items]
Warrants to purchase common stock					200,000
Warrant exercise price per share | $ / shares					$ 3.17