Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | ||
Sep. 30, 2014 | Nov. 10, 2014 | Nov. 10, 2014 | |
Common Class A [Member] | Common Class B [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'AVALON HOLDINGS CORP | ' | ' |
Document Type | '10-Q | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 3,191,100 | 612,231 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001061069 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net operating revenues | $14,437 | $16,386 | $37,436 | $46,788 |
Costs and expenses: | ' | ' | ' | ' |
Costs of operations | 11,572 | 13,432 | 30,872 | 39,024 |
Depreciation and amortization | 579 | 408 | 1,562 | 1,217 |
Selling, general and administrative expenses | 2,155 | 2,145 | 5,831 | 5,939 |
Operating income (loss) | 131 | 401 | -829 | 608 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -21 | -6 | -31 | -16 |
Interest income | 1 | ' | 1 | 1 |
Other income, net | 51 | 56 | 213 | 232 |
Income (loss) before income taxes | 162 | 451 | -646 | 825 |
Provision for income taxes | 28 | 36 | 58 | 95 |
Net income (loss) | 134 | 415 | -704 | 730 |
Less net income (loss) attributable to non-controlling interest in subsidiary | 36 | ' | -15 | ' |
Net income (loss) of Avalon Holdings Corporation common shareholders | $98 | $415 | ($689) | $730 |
Income (loss) per share attributable to Avalon Holdings Corporation common shareholders: | ' | ' | ' | ' |
Basic net income (loss) per share (in Dollars per share) | $0.03 | $0.11 | ($0.18) | $0.19 |
Dilutive net income (loss) per share (in Dollars per share) | $0.02 | $0.10 | ($0.18) | $0.18 |
Weighted average shares outstanding b basic (in Shares) | 3,803,331 | 3,803,331 | 3,803,331 | 3,803,331 |
Weighted average shares outstanding b diluted (in Shares) | 4,077,991 | 4,102,594 | 3,803,000 | 4,060,401 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $6,166 | $9,798 |
Accounts receivable, net | 9,656 | 10,201 |
Prepaid expenses | 591 | 349 |
Refundable income taxes | 3 | 3 |
Other current assets | 1,015 | 830 |
Total current assets | 17,431 | 21,181 |
Property and equipment, less accumulated depreciation and amortization of $14,693 in 2014 and $13,556 in 2013 | 33,254 | 27,563 |
Leased property under capital leases, less accumulated depreciation and amortization of $3,755 in 2014 and $3,397 in 2013 | 6,511 | 6,719 |
Noncurrent deferred tax asset | 8 | 8 |
Other assets, net | 911 | 108 |
Total assets | 58,115 | 55,579 |
Current Liabilities: | ' | ' |
Current portion of obligations under capital leases | 57 | 56 |
Revolving line of credit | 2,900 | ' |
Accounts payable | 6,485 | 8,101 |
Accrued payroll and other compensation | 888 | 549 |
Accrued income taxes | 6 | 1 |
Other accrued taxes | 315 | 307 |
Deferred revenues | 2,623 | 2,265 |
Other liabilities and accrued expenses | 802 | 365 |
Total current liabilities | 14,076 | 11,644 |
Obligations under capital leases | 349 | 390 |
Asset retirement obligation | 75 | 75 |
Deferred rental income | 160 | ' |
Equity: | ' | ' |
Paid-in capital | 58,848 | 58,771 |
Accumulated deficit | -19,078 | -18,389 |
Total Avalon Holdings Corporation shareholdersb equity | 39,808 | 40,420 |
Non-controlling interest in subsidiary | 3,647 | 3,050 |
Total Equity | 43,455 | 43,470 |
Total liabilities and equity | 58,115 | 55,579 |
Common Class A [Member] | ' | ' |
Equity: | ' | ' |
Common Stock | 32 | 32 |
Common Class B [Member] | ' | ' |
Equity: | ' | ' |
Common Stock | $6 | $6 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Property and equipment, accumulated depreciation and amortization | $14,693 | $13,556 |
Leased property under capital leases, accumulated depreciation and amortization | $3,755 | $3,397 |
Common Class A [Member] | ' | ' |
Par Value | $0.01 | $0.01 |
Common Class B [Member] | ' | ' |
Par Value | $0.01 | $0.01 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating activities: | ' | ' |
Net (loss) income | ($704) | $730 |
Reconciliation of (loss) income to cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1,562 | 1,217 |
Compensation costs b stock options | 60 | 96 |
Deferred rental income | -16 | ' |
Provision for losses on accounts receivable | 33 | 15 |
Gain from disposal of property and equipment | -2 | -20 |
Change in operating assets and liabilities: | ' | ' |
Accounts receivable | 512 | -2,053 |
Prepaid expenses | -242 | -50 |
Other current assets | -185 | -119 |
Other assets, net | 12 | -4 |
Accounts payable | -1,939 | 957 |
Accrued payroll and other compensation | 339 | 318 |
Accrued income taxes | 5 | 32 |
Other accrued taxes | 8 | -75 |
Deferred revenues | 358 | 442 |
Other liabilities and accrued expenses | 346 | 77 |
Net cash provided by operating activities | 147 | 1,563 |
Investing activities: | ' | ' |
Capital expenditures | -4,161 | -820 |
Acquisition of Magnuson Grand Hotel | -3,122 | ' |
Proceeds from disposal of property and equipment | 14 | 20 |
Net cash used in investing activities | -7,269 | -800 |
Financing activities: | ' | ' |
Proceeds from subsidiary private placement offering | 700 | ' |
Borrowing under line of credit | 2,900 | ' |
Cash distributions to non-controlling interest in subsidiary | -87 | ' |
Principal payments on capital lease obligations | -40 | -40 |
Contribution to paid-in capital | 17 | 7 |
Net cash provided by (used in) financing activities | 3,490 | -33 |
(Decrease) increase in cash and cash equivalents | -3,632 | 730 |
Cash and cash equivalents at beginning of year | 9,798 | 7,888 |
Cash and cash equivalents at end of period | 6,166 | 8,618 |
Significant non-cash investing activities and financing activities: | ' | ' |
Capital lease obligations incurred | ' | 280 |
Significant non-cash operating and investing activities | ' | ' |
Deferred rental income for the acquisition of The Magnuson Grand Hotel | 266 | ' |
Capital expenditures included in accounts payable at September 30, 2014 | $323 | ' |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
Note 1. Basis of Presentation | |
The unaudited condensed consolidated financial statements of Avalon Holdings Corporation and subsidiaries (collectively “Avalon”) and related notes included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted consistent with such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and related notes included in Avalon’s 2013 Annual Report to Shareholders. | |
In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position of Avalon as of September 30, 2014, and the results of its operations and cash flows for the interim periods presented. | |
The operating results for the interim periods are not necessarily indicative of the results to be expected for the full year. |
Note_2_Subsequent_Events
Note 2 - Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 2. Subsequent Events | |
Avalon evaluated subsequent events through the date the financial statements were issued. |
Note_3_Acquisition
Note 3 - Acquisition | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||||||||||
Note 3. Acquisition | |||||||||||||||||
On August 1, 2014, Avalon Holdings Corporation (“Avalon”), through a wholly owned subsidiary, completed the acquisition of The Magnuson Grand Hotel (formerly The Avalon Inn) in Howland, Ohio for $3.1 million in cash and the assumption of certain operating leases and some rental payment relief. The transaction also includes the purchase of the adjoining tennis center. The hotel is located adjacent to Avalon’s corporate headquarters and its Avalon Lakes Golf Course. | |||||||||||||||||
The acquisition has been accounted for using the acquisition method in accordance with the Financial Accounting Standards Board, Accounting Standards Codification Topic 805, Business Combinations. The assets acquired were recorded at their fair values as of the date of acquisition. The preliminary purchase price allocation was as follows: | |||||||||||||||||
Property and equipment | $ | 2,570,000 | |||||||||||||||
Other intangible assets | 818,000 | ||||||||||||||||
Deferred rental income | (266,000 | ) | |||||||||||||||
Net assets acquired | $ | 3,122,000 | |||||||||||||||
The purchase price allocation is provisional, pending completion of the valuation of acquired property, buildings, furniture and fixtures and any intangible assets including goodwill. The other intangible assets are included in the Condensed Consolidated Balance Sheets under the caption “Other assets, net.” Avalon is utilizing a third party to assist in the fair value determination of certain components of the purchase price allocation. The final valuation may change the allocation of the purchase price, which could affect the fair values assigned to the assets. Avalon incurred $67,000 in acquisition related costs. Such amount is included in selling, general and administrative expenses. The amount of net operating revenues and net income of The Magnuson Grand Hotel included in Avalon’s Condensed Consolidated Statements of Operations from the acquisition date to the period ending September 30, 2014 are net operating revenues of $.3 million and $9,000 of net income. | |||||||||||||||||
Pro Forma Consolidated Results | |||||||||||||||||
The following supplemental pro forma information presents the financial results for the three and nine months ended September 30, 2014 as if the acquisition had occurred on January 1, 2014 and for the three and nine months ended September 30, 2013 as if the acquisition had occurred on January 1, 2013. The pro forma results do not include any anticipated effects of the planned integration of The Magnuson Grand Hotel with the golf and related operations segment. | |||||||||||||||||
Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisition been completed on the dates indicated, nor are they indicative of the future operating results of the combined company. | |||||||||||||||||
Pro forma consolidated results | Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except for per share data): | September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net operating revenues | $ | 14,550 | $ | 16,835 | $ | 38,223 | $ | 48,153 | |||||||||
Net income (loss) | $ | 75 | $ | 393 | $ | (843 | ) | $ | 754 | ||||||||
Basic income (loss) per share | $ | 0.02 | $ | 0.1 | $ | (0.22 | ) | $ | 0.2 | ||||||||
Diluted income (loss) per share | $ | 0.02 | $ | 0.1 | $ | (0.22 | ) | $ | 0.19 | ||||||||
Note_4_Net_Income_Loss_Per_Sha
Note 4 - Net Income (Loss) Per Share | 9 Months Ended |
Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share [Text Block] | ' |
Note 4. Net Income (Loss) per Share | |
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the periods presented, which was 3,803,331 for each period. | |
Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For the three months ended September 30, 2014, the diluted weighted average number of shares outstanding was 4,077,991. For the three months and nine months ended September 30, 2013 the diluted weighted average number of shares outstanding was 4,102,594 and 4,060,401, respectively. For the nine months ended September 30, 2014, the diluted per share amount is equal to the basic per share amount because Avalon was in a net loss position and as a result, such dilution would be considered anti-dilutive. However, assuming dilution, the diluted weighted average number of common shares outstanding for the nine months ended September 30, 2014 was 4,132,344. |
Note_5_Credit_Facility
Note 5 - Credit Facility | 9 Months Ended |
Sep. 30, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
Note 5. Credit Facility | |
On July 22, 2014 Avalon increased its unsecured line of credit agreement with The Huntington National Bank from $1 million to $5 million. Interest on borrowings accrues at LIBOR plus 2.70% and has a .25% nonuse fee. The line of credit is renewed annually on April 30 and contains certain financial and other covenants, customary representations, warranties and events of defaults. On August 1, 2014 Avalon borrowed $2.9 million. These monies were utilized to purchase The Magnuson Grand Hotel. At September 30, 2014 the outstanding borrowings were $2.9 million. At December 31, 2013, there were no borrowings under the line of credit. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
Note 6. Income Taxes | |
Avalon recorded net income of $.1 million in the third quarter of 2014 compared with net income of $.4 million in the third quarter of 2013. Avalon recorded a state income tax provision in both the third quarter of 2014 and 2013, which was related entirely to the waste management and brokerage operations. Excluding the effect of this state tax provision, Avalon’s overall effective tax rate was 0% in the third quarter of 2014 and 2013. The income tax provision for the third quarter of 2014 and 2013 were offset by a change in the valuation allowance. The overall effective tax rate is different than statutory rates primarily due to a change in the valuation allowance. A valuation allowance is provided when it is more likely than not that deferred tax assets relating to certain federal and state loss carryforwards will not be realized. Avalon continues to maintain a valuation allowance against the majority of its deferred tax amounts until it is evident that the deferred tax asset will be utilized in the future. | |
Avalon incurred a net loss of $.7 million for the first nine months of 2014 compared with net income of $.7 million for the first nine months of the prior year. Avalon recorded a state income tax provision for the first nine months of 2014 and 2013, which was related entirely to the waste management and brokerage operations. Excluding the effect of this state tax provision, Avalon’s overall effective tax rate was 0% in both the first nine months of 2014 and 2013. The income tax benefit for the first nine months of 2014 and the income tax provision for the first nine months of 2013 were offset by a change in the valuation allowance. A valuation allowance is provided when it is more likely than not that deferred tax assets relating to certain federal and state loss carryforwards will not be realized. The overall effective tax rate differs from statutory rates primarily due to the change in the valuation allowance. |
Note_7_Longterm_Incentive_Plan
Note 7 - Long-term Incentive Plan | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||
Note 7. Long-term Incentive Plan | |||||||
The purpose of the Avalon Holdings Corporation 2009 Long-term Incentive Plan (the “Plan”) is (a) to improve individual employee performance by providing long-term incentives and rewards to employees of Avalon, (b) to assist Avalon in attracting, retaining and motivating employees and non-employee directors with experience and ability, and (c) to associate the interests of such employees and directors with those of the Avalon shareholders. Under the Plan, 1,300,000 shares have been reserved for the issuance of stock options. At September 30, 2014 there were 760,000 options outstanding. The stock options, vest ratably over a five year period and have a contractual term of ten years from the date of grant. At the end of each contractual vesting period, the share price of the Avalon common stock, traded on a public stock exchange (NYSE Amex), must reach a predetermined price within three years following such contractual vesting period before the stock options are exercisable (See table below). If the Avalon common stock price does not reach the predetermined price, the stock options will either be cancelled or the period will be extended at the discretion of the Board of Directors. | |||||||
The Monte Carlo Simulation was selected to determine the fair value because it incorporates six minimum considerations; 1) the exercise price of the option, 2) the expected term of the option, taking into account both the contractual term of the option, the effects of employees’ expected exercise and post-vesting employment termination behavior, as well as the possibility of change in control events during the contractual term of the option agreements, 3) the current fair value of the underlying equity, 4) the expected volatility of the value of the underlying share for the expected term of the option, 5) the expected dividends on the underlying share for the expected term of the option and 6) the risk-free interest rate(s) for the expected term of the option. | |||||||
The expected term, or time until the option is exercised is typically based on historical exercising behavior of previous option holders of a company’s stock. Due to the fact that no options have been exercised as of yet, and therefore no historical exercising behavior available, an alternative method was used. Because of the nature of the vesting as described above, the options were separated into five blocks, with each block having its own vesting period and expected term. Assuming the vesting occurs ratably over the vesting period for each option block, the average vesting term (requisite service period) for each option block was calculated to be 2.54, 3.54, 4.54, 5.54 and 6.54 years for option blocks 1 through 5, respectively. As such, the expected terms were calculated to be 6.27, 6.77, 7.27, 7.77 and 8.27 years, for option blocks 1 through 5, respectively. | |||||||
The current fair value of the underlying equity was determined to be equal to Avalon’s publicly traded stock price as of the grant dates times the sum of the Class A and Class B common shares outstanding. | |||||||
The expected volatility was based on the observed volatility of Avalon common stock for a five year period prior to the grant dates. The expected volatility that was used ranged from 60.9% to 61.7% with a weighted average expected volatility of 61.2%. | |||||||
There were no expected dividends and the risk-free interest rate(s), which ranged from 2.06% to 2.28%, were based on yield data for U. S. Treasury securities over a period consistent with the expected term. | |||||||
The following information is a summary of the stock option activity: | |||||||
Options outstanding at January 1, 2014 | 760,000 | ||||||
Options forfeited | 0 | ||||||
Options cancelled | 0 | ||||||
2014 Options granted | 0 | ||||||
Total options outstanding at September 30, 2014 | 760,000 | ||||||
Options Vested | 552,000 | ||||||
Options Exercisable | 304,000 | ||||||
The stock options vest and become exercisable based upon achieving two critical metrics as follows: | |||||||
1) | Contract Vesting Term: The stock options vest ratably over a five year period. | ||||||
2) | The Avalon common stock price traded on a public stock exchange (NYSE Amex) must reach the predetermined vesting price within three years after the options become vested under the Contract Vesting Term. | ||||||
The table below represents the period and predetermined stock price needed for vesting. | |||||||
Begins Vesting | Ends Vesting | Predetermined | |||||
Vesting Price | |||||||
Block 1 | 12 mo. after Grant Dates | 48 mo. after Grant Dates | $ | 3.43 | |||
Block 2 | 24 mo. after Grant Dates | 60 mo. after Grant Dates | $ | 4.69 | |||
Block 3 | 36 mo. after Grant Dates | 72 mo. after Grant Dates | $ | 6.43 | |||
Block 4 | 48 mo. after Grant Dates | 84 mo. after Grant Dates | $ | 8.81 | |||
Block 5 | 60 mo. after Grant Dates | 96 mo. after Grant Dates | $ | 12.07 | |||
Compensation cost was approximately $19,000 and $44,000 for the three months ended September 30, 2014 and 2013, respectively, and $60,000 and $96,000 for the nine months ended September 30, 2014 and 2013, respectively, based upon the estimated fair value calculation. As of September 30, 2014, there was approximately $115,000 of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the Plan. That cost is expected to be recognized over a weighted-average period of 1.46 years. |
Note_8_Legal_Matters
Note 8 - Legal Matters | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
Note 8. Legal Matters | |
In the ordinary course of conducting its business, Avalon becomes involved in lawsuits, administrative proceedings and governmental investigations, including those related to environmental matters. Some of these proceedings may result in fines, penalties or judgments being assessed against Avalon which, from time to time, may have an impact on its business and financial condition. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty, Avalon does not believe that any uninsured ultimate liabilities, fines or penalties resulting from such pending proceedings, individually or in the aggregate, will have a material adverse effect on its liquidity, financial position or results of operations. |
Note_9_Business_Segment_Inform
Note 9 - Business Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
Note 9. Business Segment Information | |||||||||||||||||
Avalon’s reportable segments include waste management services and golf and related operations. In determining the segment information, Avalon considered its operating and management structure and the types of information subject to regular review by its “chief operating decision maker.” On this basis, Avalon’s reportable segments include waste management services and golf and related operations. Avalon accounts for intersegment net operating revenues as if the transactions were to third parties. The segment disclosures are presented on this basis for all years presented. | |||||||||||||||||
Avalon’s primary business segment, the waste management services segment, provides hazardous and nonhazardous waste disposal brokerage and management services to industrial, commercial, municipal and governmental customers, manages a captive landfill for an industrial customer and sells construction mats. During the second quarter of 2014, Avalon began operating salt water injection wells for the disposal of brine water. These operations are included in the waste management services segment. | |||||||||||||||||
The golf and related operations segment includes the operations of golf courses, clubhouses that provide dining and banquet facilities, indoor and outdoor tennis courts, swimming pools, fitness and spa facilities and a travel agency. Revenue for the golf and related operations segment consists primarily of membership dues, green fees, cart rentals, merchandise, and food and beverage sales. Revenue related to membership dues are recognized proportionately over twelve months. The unrecognized or deferred revenues relating to membership dues at September 30, 2014 and December 31, 2013 were $2.6 million and $2.3 million, respectively. On August 1, 2014, Avalon acquired the Magnuson Grand Hotel. The name of the hotel was changed to The Avalon Resort and Spa. In addition to providing hotel rooms, The Avalon Resort and Spa will have dining and banquet facilities, indoor and outdoor swimming pools, indoor tennis courts, a fitness center and a spa facility. The Avalon Resort and Spa will offer hotel guests golf packages to all of the golf courses of the Avalon Golf and Country Club and allow its guests to utilize the facilities at each of the clubhouses. As such, the operations of the resort and hotel are included in the golf and related operations segment. | |||||||||||||||||
Avalon does not have significant operations located outside the United States and, accordingly, geographical segment information is not presented. | |||||||||||||||||
For the nine months ended September 30, 2014, one customer accounted for approximately 7.4% of Avalon’s consolidated net operating revenues and 10.1% of the waste management services segment’s net operating revenues. For the nine months ended September 30, 2013, one customer accounted for approximately 14.2%% of Avalon’s consolidated net operating revenues and 18.9% of the waste management services segment’s net operating revenues. | |||||||||||||||||
The accounting policies of the segments are consistent with those described for the consolidated financial statements in the summary of significant accounting policies. Avalon measures segment profit for internal reporting purposes as income (loss) before taxes. Business segment information including the reconciliation of segment income before taxes to income (loss) before taxes is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net operating revenues from: | |||||||||||||||||
Waste management services: | |||||||||||||||||
External customers revenues | $ | 10,391 | $ | 12,487 | $ | 27,567 | $ | 37,148 | |||||||||
Intersegment revenues | — | — | — | — | |||||||||||||
Total waste management services | 10,391 | 12,487 | 27,567 | 37,148 | |||||||||||||
Golf and related operations: | |||||||||||||||||
External customers revenues | 4,046 | 3,899 | 9,869 | 9,640 | |||||||||||||
Intersegment revenues | 26 | 13 | 59 | 51 | |||||||||||||
Total golf and related operations | 4,072 | 3,912 | 9,928 | 9,691 | |||||||||||||
Segment operating revenues | 14,463 | 16,399 | 37,495 | 46,839 | |||||||||||||
Intersegment eliminations | (26 | ) | (13 | ) | (59 | ) | (51 | ) | |||||||||
Total net operating revenues | $ | 14,437 | $ | 16,386 | $ | 37,436 | $ | 46,788 | |||||||||
Income (loss) before taxes: | |||||||||||||||||
Waste management services | $ | 996 | $ | 1,064 | $ | 2,186 | $ | 2,932 | |||||||||
Golf and related operations | (68 | ) | 170 | (721 | ) | 18 | |||||||||||
Segment income before taxes | 928 | 1,234 | 1,465 | 2,950 | |||||||||||||
Corporate interest expense | (16 | ) | — | (16 | ) | — | |||||||||||
Corporate interest income | 1 | — | 1 | 1 | |||||||||||||
Corporate other income, net | 7 | 8 | 24 | 26 | |||||||||||||
General corporate expenses | (758 | ) | (791 | ) | (2,120 | ) | (2,152 | ) | |||||||||
Income (loss) before taxes | $ | 162 | $ | 451 | $ | (646 | ) | $ | 825 | ||||||||
Interest expense: | |||||||||||||||||
Waste management services | $ | 2 | $ | 2 | $ | 5 | $ | 6 | |||||||||
Golf and related operations | 3 | 4 | 10 | 10 | |||||||||||||
Corporate | 16 | — | 16 | — | |||||||||||||
Total | $ | 21 | $ | 6 | $ | 31 | $ | 16 | |||||||||
Interest income: | |||||||||||||||||
Waste management services | $ | — | $ | — | $ | — | $ | — | |||||||||
Golf and related operations | — | — | — | — | |||||||||||||
Corporate | 1 | — | 1 | 1 | |||||||||||||
Total | $ | 1 | $ | — | $ | 1 | $ | 1 | |||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Identifiable assets: | |||||||||||||||||
Waste management services | $ | 19,963 | $ | 16,252 | |||||||||||||
Golf and related operations | 34,055 | 29,821 | |||||||||||||||
Corporate | 43,341 | 43,997 | |||||||||||||||
Subtotal | 97,359 | 90,070 | |||||||||||||||
Elimination of intersegment receivables | (39,244 | ) | (34,491 | ) | |||||||||||||
Total | $ | 58,115 | $ | 55,579 | |||||||||||||
In comparing the identifiable assets at September 30, 2014 with those at December 31, 2013, the increase in identifiable assets of the waste management services segment of $3.7 million is primarily due to capital expenditures of $3.1 million for the salt water injection wells operations and an increase in intersegment transactions, which are eliminated in consolidation, partially offset by a decrease in accounts receivable. The increase in identifiable assets of the golf and related operations segment of $4.2 million is primarily due to the acquisition of The Magnuson Grand Hotel on August 1, 2014 and capital expenditures for building improvements and equipment. |
Note_10_Recently_Adopted_Accou
Note 10 - Recently Adopted Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
Note 10. Recently Adopted Accounting Pronouncements | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09). The ASU will supersede virtually all existing revenue recognition guidance under GAAP and will be effective for annual reporting periods beginning after December 15, 2016. The fundamental principles of the new guidance are that companies should recognize revenue in a manner that reflects the timing of the transfer of services to customers and the amount of revenue recognized reflects the consideration that a company expects to receive for the goods and services provided. The new guidance establishes a five-step approach for the recognition of revenue. Avalon is still evaluating the impact and does not anticipate that the new guidance will fundamentally change our revenue recognition policies, practices or systems. |
Note_3_Acquisition_Tables
Note 3 - Acquisition (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||||||||||
Property and equipment | $ | 2,570,000 | |||||||||||||||
Other intangible assets | 818,000 | ||||||||||||||||
Deferred rental income | (266,000 | ) | |||||||||||||||
Net assets acquired | $ | 3,122,000 | |||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||||||||||
Pro forma consolidated results | Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except for per share data): | September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net operating revenues | $ | 14,550 | $ | 16,835 | $ | 38,223 | $ | 48,153 | |||||||||
Net income (loss) | $ | 75 | $ | 393 | $ | (843 | ) | $ | 754 | ||||||||
Basic income (loss) per share | $ | 0.02 | $ | 0.1 | $ | (0.22 | ) | $ | 0.2 | ||||||||
Diluted income (loss) per share | $ | 0.02 | $ | 0.1 | $ | (0.22 | ) | $ | 0.19 |
Note_7_Longterm_Incentive_Plan1
Note 7 - Long-term Incentive Plan (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||
Options outstanding at January 1, 2014 | 760,000 | ||||||
Options forfeited | 0 | ||||||
Options cancelled | 0 | ||||||
2014 Options granted | 0 | ||||||
Total options outstanding at September 30, 2014 | 760,000 | ||||||
Options Vested | 552,000 | ||||||
Options Exercisable | 304,000 | ||||||
Schedule of Period and Predetermined Stock Price Needed for Vesting [Table Text Block] | ' | ||||||
Begins Vesting | Ends Vesting | Predetermined | |||||
Vesting Price | |||||||
Block 1 | 12 mo. after Grant Dates | 48 mo. after Grant Dates | $ | 3.43 | |||
Block 2 | 24 mo. after Grant Dates | 60 mo. after Grant Dates | $ | 4.69 | |||
Block 3 | 36 mo. after Grant Dates | 72 mo. after Grant Dates | $ | 6.43 | |||
Block 4 | 48 mo. after Grant Dates | 84 mo. after Grant Dates | $ | 8.81 | |||
Block 5 | 60 mo. after Grant Dates | 96 mo. after Grant Dates | $ | 12.07 |
Note_9_Business_Segment_Inform1
Note 9 - Business Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net operating revenues from: | |||||||||||||||||
Waste management services: | |||||||||||||||||
External customers revenues | $ | 10,391 | $ | 12,487 | $ | 27,567 | $ | 37,148 | |||||||||
Intersegment revenues | — | — | — | — | |||||||||||||
Total waste management services | 10,391 | 12,487 | 27,567 | 37,148 | |||||||||||||
Golf and related operations: | |||||||||||||||||
External customers revenues | 4,046 | 3,899 | 9,869 | 9,640 | |||||||||||||
Intersegment revenues | 26 | 13 | 59 | 51 | |||||||||||||
Total golf and related operations | 4,072 | 3,912 | 9,928 | 9,691 | |||||||||||||
Segment operating revenues | 14,463 | 16,399 | 37,495 | 46,839 | |||||||||||||
Intersegment eliminations | (26 | ) | (13 | ) | (59 | ) | (51 | ) | |||||||||
Total net operating revenues | $ | 14,437 | $ | 16,386 | $ | 37,436 | $ | 46,788 | |||||||||
Income (loss) before taxes: | |||||||||||||||||
Waste management services | $ | 996 | $ | 1,064 | $ | 2,186 | $ | 2,932 | |||||||||
Golf and related operations | (68 | ) | 170 | (721 | ) | 18 | |||||||||||
Segment income before taxes | 928 | 1,234 | 1,465 | 2,950 | |||||||||||||
Corporate interest expense | (16 | ) | — | (16 | ) | — | |||||||||||
Corporate interest income | 1 | — | 1 | 1 | |||||||||||||
Corporate other income, net | 7 | 8 | 24 | 26 | |||||||||||||
General corporate expenses | (758 | ) | (791 | ) | (2,120 | ) | (2,152 | ) | |||||||||
Income (loss) before taxes | $ | 162 | $ | 451 | $ | (646 | ) | $ | 825 | ||||||||
Interest expense: | |||||||||||||||||
Waste management services | $ | 2 | $ | 2 | $ | 5 | $ | 6 | |||||||||
Golf and related operations | 3 | 4 | 10 | 10 | |||||||||||||
Corporate | 16 | — | 16 | — | |||||||||||||
Total | $ | 21 | $ | 6 | $ | 31 | $ | 16 | |||||||||
Interest income: | |||||||||||||||||
Waste management services | $ | — | $ | — | $ | — | $ | — | |||||||||
Golf and related operations | — | — | — | — | |||||||||||||
Corporate | 1 | — | 1 | 1 | |||||||||||||
Total | $ | 1 | $ | — | $ | 1 | $ | 1 | |||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Identifiable assets: | |||||||||||||||||
Waste management services | $ | 19,963 | $ | 16,252 | |||||||||||||
Golf and related operations | 34,055 | 29,821 | |||||||||||||||
Corporate | 43,341 | 43,997 | |||||||||||||||
Subtotal | 97,359 | 90,070 | |||||||||||||||
Elimination of intersegment receivables | (39,244 | ) | (34,491 | ) | |||||||||||||
Total | $ | 58,115 | $ | 55,579 |
Note_3_Acquisition_Details
Note 3 - Acquisition (Details) (USD $) | 9 Months Ended | 2 Months Ended | 0 Months Ended | 2 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | Aug. 01, 2014 | Sep. 30, 2014 | |
Selling, General and Administrative Expenses [Member] | Acquisition of The Magnuson Grand Hotel [Member] | Acquisition of The Magnuson Grand Hotel [Member] | ||
Acquisition of The Magnuson Grand Hotel [Member] | ||||
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | $3,122,000 | ' | $3,100,000 | ' |
Business Combination, Acquisition Related Costs | ' | 67,000 | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | ' | ' | 300,000 |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | $9,000 |
Note_3_Acquisition_Details_Pre
Note 3 - Acquisition (Details) - Preliminary Allocation of Purchase Price (Acquisition of The Magnuson Grand Hotel [Member], USD $) | Aug. 01, 2014 |
Acquisition of The Magnuson Grand Hotel [Member] | ' |
Note 3 - Acquisition (Details) - Preliminary Allocation of Purchase Price [Line Items] | ' |
Property and equipment | $2,570,000 |
Other intangible assets | 818,000 |
Deferred rental income | -266,000 |
Net assets acquired | $3,122,000 |
Note_3_Acquisition_Details_Pro
Note 3 - Acquisition (Details) - Pro Forma Consolidation Results (Acquisition of The Magnuson Grand Hotel [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Acquisition of The Magnuson Grand Hotel [Member] | ' | ' | ' | ' |
Note 3 - Acquisition (Details) - Pro Forma Consolidation Results [Line Items] | ' | ' | ' | ' |
Net operating revenues | $14,550 | $16,835 | $38,223 | $48,153 |
Net income (loss) | $75 | $393 | ($843) | $754 |
Basic income (loss) per share | $0.02 | $0.10 | ($0.22) | $0.20 |
Diluted income (loss) per share | $0.02 | $0.10 | ($0.22) | $0.19 |
Note_4_Net_Income_Loss_Per_Sha1
Note 4 - Net Income (Loss) Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Note 4 - Net Income (Loss) Per Share (Details) [Line Items] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic | 3,803,331 | 3,803,331 | 3,803,331 | 3,803,331 |
Weighted Average Number of Shares Outstanding, Diluted | 4,077,991 | 4,102,594 | 3,803,000 | 4,060,401 |
Not Used in Calculation of Diluted EPS [Member] | ' | ' | ' | ' |
Note 4 - Net Income (Loss) Per Share (Details) [Line Items] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Diluted | ' | ' | 4,132,344 | ' |
Note_5_Credit_Facility_Details
Note 5 - Credit Facility (Details) (USD $) | 1 Months Ended | 9 Months Ended | |||
Aug. 01, 2014 | Sep. 30, 2014 | Jul. 22, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Note 5 - Credit Facility (Details) [Line Items] | ' | ' | ' | ' | ' |
Proceeds from Lines of Credit | ' | $2,900,000 | ' | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | Huntington National Bank [Member] | ' | ' | ' | ' | ' |
Note 5 - Credit Facility (Details) [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | 2.70% | ' | ' | ' |
Huntington National Bank [Member] | ' | ' | ' | ' | ' |
Note 5 - Credit Facility (Details) [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | 5,000,000 | 1,000,000 | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | 0.25% | ' | ' | ' |
Proceeds from Lines of Credit | 2,900,000 | ' | ' | ' | ' |
Long-term Line of Credit | ' | $2,900,000 | ' | ' | $0 |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Net Income (Loss) Attributable to Parent | $134 | $415 | ($704) | $730 |
Effective Income Tax Rate Reconciliation, Percent | 0.00% | 0.00% | 0.00% | 0.00% |
Note_7_Longterm_Incentive_Plan2
Note 7 - Long-term Incentive Plan (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Award, Tranche One [Member] | Share-based Compensation Award, Tranche Two [Member] | Share-based Compensation Award, Tranche Three [Member] | Share-based Compensation Award, Tranche Four [Member] | Share-based Compensation Award, Tranche Five [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | |||
Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | Avalon Holdings Corporation 2009 Long-term Incentive Plan [Member] | |||||||
Note 7 - Long-term Incentive Plan (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | 1,300,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 760,000 | 760,000 | ' | ' | ' | ' | ' | ' | ' | ' | 760,000 | ' | 760,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' |
Number of Years after Options Vested, Predetermined Vesting Stock Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | ' | ' | '2 years 197 days | '3 years 197 days | '4 years 197 days | '5 years 197 days | '6 years 197 days | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | ' | '6 years 98 days | '6 years 281 days | '7 years 98 days | '7 years 281 days | '8 years 98 days | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | ' | ' | ' | ' | 60.90% | 61.70% | 61.20% | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | ' | 2.06% | 2.28% | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19,000 | $44,000 | $60,000 | $96,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $115,000 | ' | $115,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 167 days | ' |
Note_7_Longterm_Incentive_Plan3
Note 7 - Long-term Incentive Plan (Details) - Stock Option Activity | 9 Months Ended |
Sep. 30, 2014 | |
Stock Option Activity [Abstract] | ' |
Options outstanding at January 1, 2014 | 760,000 |
Options forfeited | 0 |
Options cancelled | 0 |
2014 Options granted | 0 |
Total options outstanding at September 30, 2014 | 760,000 |
Options Vested | 552,000 |
Options Exercisable | 304,000 |
Note_7_Longterm_Incentive_Plan4
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Share-based Compensation Award, Tranche One [Member] | ' |
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting [Line Items] | ' |
Begins Vesting | '12 mo. after Grant Dates |
Ends Vesting | '48 mo. after Grant Dates |
Predetermined Vesting Price | $3.43 |
Share-based Compensation Award, Tranche Two [Member] | ' |
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting [Line Items] | ' |
Begins Vesting | '24 mo. after Grant Dates |
Ends Vesting | '60 mo. after Grant Dates |
Predetermined Vesting Price | $4.69 |
Share-based Compensation Award, Tranche Three [Member] | ' |
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting [Line Items] | ' |
Begins Vesting | '36 mo. after Grant Dates |
Ends Vesting | '72 mo. after Grant Dates |
Predetermined Vesting Price | $6.43 |
Share-based Compensation Award, Tranche Four [Member] | ' |
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting [Line Items] | ' |
Begins Vesting | '48 mo. after Grant Dates |
Ends Vesting | '84 mo. after Grant Dates |
Predetermined Vesting Price | $8.81 |
Share-based Compensation Award, Tranche Five [Member] | ' |
Note 7 - Long-term Incentive Plan (Details) - Period and Predetermined Stock Price Needed for Vesting [Line Items] | ' |
Begins Vesting | '60 mo. after Grant Dates |
Ends Vesting | '96 mo. after Grant Dates |
Predetermined Vesting Price | $12.07 |
Note_9_Business_Segment_Inform2
Note 9 - Business Segment Information (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Note 9 - Business Segment Information (Details) [Line Items] | ' | ' | ' |
Deferred Revenue, Current | $2,623,000 | ' | $2,265,000 |
Payments to Acquire Property, Plant, and Equipment | 4,161,000 | 820,000 | ' |
One Customer [Member] | Waste Management Services [Member] | Sales Revenue, Segment [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Note 9 - Business Segment Information (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 10.10% | 18.90% | ' |
One Customer [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Note 9 - Business Segment Information (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 7.40% | 14.20% | ' |
Golf and Related Operations [Member] | ' | ' | ' |
Note 9 - Business Segment Information (Details) [Line Items] | ' | ' | ' |
Deferred Revenue, Current | 2,600,000 | ' | 2,300,000 |
Increase (Decrease) in Operating Assets | 4,200,000 | ' | ' |
Waste Management Services [Member] | ' | ' | ' |
Note 9 - Business Segment Information (Details) [Line Items] | ' | ' | ' |
Increase (Decrease) in Operating Assets | 3,700,000 | ' | ' |
Payments to Acquire Property, Plant, and Equipment | $3,100,000 | ' | ' |
Note_9_Business_Segment_Inform3
Note 9 - Business Segment Information (Details) - Segment Reporting Information - Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | $14,437 | $16,386 | $37,436 | $46,788 |
Income (loss) before taxes: | ' | ' | ' | ' |
Income (loss) before taxes | 162 | 451 | -646 | 825 |
Corporate interest expense | -21 | -6 | -31 | -16 |
Interest income | 1 | ' | 1 | 1 |
Corporate other income, net | 51 | 56 | 213 | 232 |
Interest expense: | ' | ' | ' | ' |
Interest expense | 21 | 6 | 31 | 16 |
Waste Management Services [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 0 | 0 | ' | ' |
Waste Management Services [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 10,391 | 12,487 | 27,567 | 37,148 |
Waste Management Services [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 10,391 | 12,487 | 27,567 | 37,148 |
Income (loss) before taxes: | ' | ' | ' | ' |
Income (loss) before taxes | 996 | 1,064 | 2,186 | 2,932 |
Corporate interest expense | -2 | -2 | -5 | -6 |
Interest expense: | ' | ' | ' | ' |
Interest expense | 2 | 2 | 5 | 6 |
Golf and Related Operations [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 26 | 13 | 59 | 51 |
Golf and Related Operations [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 4,072 | 3,912 | 9,928 | 9,691 |
Golf and Related Operations [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 4,046 | 3,899 | 9,869 | 9,640 |
Income (loss) before taxes: | ' | ' | ' | ' |
Income (loss) before taxes | -68 | 170 | -721 | 18 |
Corporate interest expense | -3 | -4 | -10 | -10 |
Interest expense: | ' | ' | ' | ' |
Interest expense | 3 | 4 | 10 | 10 |
Corporate Segment [Member] | ' | ' | ' | ' |
Income (loss) before taxes: | ' | ' | ' | ' |
Corporate interest expense | -16 | ' | -16 | ' |
Interest income | 1 | ' | 1 | 1 |
Corporate other income, net | 7 | 8 | 24 | 26 |
General corporate expenses | -758 | -791 | -2,120 | -2,152 |
Interest expense: | ' | ' | ' | ' |
Interest expense | 16 | ' | 16 | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | -26 | -13 | -59 | -51 |
Operating Segments [Member] | ' | ' | ' | ' |
Waste management services: | ' | ' | ' | ' |
Revenues, by segment | 14,463 | 16,399 | 37,495 | 46,839 |
Income (loss) before taxes: | ' | ' | ' | ' |
Income (loss) before taxes | $928 | $1,234 | $1,465 | $2,950 |
Note_9_Business_Segment_Inform4
Note 9 - Business Segment Information (Details) - Segment Reporting Information - Identifiable Assets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Identifiable assets: | ' | ' |
Identifiable assets, by segment | $58,115 | $55,579 |
Operating Segments [Member] | Waste Management Services [Member] | ' | ' |
Identifiable assets: | ' | ' |
Identifiable assets, by segment | 19,963 | 16,252 |
Operating Segments [Member] | Golf and Related Operations [Member] | ' | ' |
Identifiable assets: | ' | ' |
Identifiable assets, by segment | 34,055 | 29,821 |
Operating Segments [Member] | Corporate Segment [Member] | ' | ' |
Identifiable assets: | ' | ' |
Identifiable assets, by segment | 43,341 | 43,997 |
Operating Segments [Member] | ' | ' |
Identifiable assets: | ' | ' |
Identifiable assets, by segment | 97,359 | 90,070 |
Intersegment Eliminations [Member] | ' | ' |
Identifiable assets: | ' | ' |
Identifiable assets, by segment | ($39,244) | ($34,491) |