Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'GPX | ' |
Entity Common Stock, Shares Outstanding | ' | 19,160,859 |
Entity Registrant Name | 'GP STRATEGIES CORP | ' |
Entity Central Index Key | '0000070415 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $5,227 | $5,647 |
Accounts and other receivables, less allowance for doubtful accounts of $1,373 in 2014 and $1,405 in 2013 | 95,242 | 94,662 |
Costs and estimated earnings in excess of billings on uncompleted contracts | 33,295 | 22,706 |
Prepaid expenses and other current assets | 14,857 | 13,523 |
Total current assets | 148,621 | 136,538 |
Property, plant and equipment | 22,427 | 24,560 |
Accumulated depreciation | -13,243 | -15,329 |
Property, plant and equipment, net | 9,184 | 9,231 |
Goodwill | 116,906 | 116,987 |
Intangible assets, net | 13,701 | 15,129 |
Other assets | 2,116 | 2,271 |
Total assets | 290,528 | 280,156 |
Current liabilities: | ' | ' |
Short-term borrowings | 2,777 | 407 |
Accounts payable and accrued expenses | 53,796 | 55,339 |
Billings in excess of costs and estimated earnings on uncompleted contracts | 26,618 | 22,062 |
Total current liabilities | 83,191 | 77,808 |
Other noncurrent liabilities | 9,514 | 9,321 |
Total liabilities | 92,705 | 87,129 |
Stockholders' equity: | ' | ' |
Common stock, par value $0.01 per share | 192 | 192 |
Additional paid-in capital | 168,256 | 167,908 |
Retained earnings | 32,028 | 27,711 |
Treasury stock at cost | -679 | -1,170 |
Accumulated other comprehensive loss | -1,974 | -1,614 |
Total stockholders’ equity | 197,823 | 193,027 |
Total Liabilities and Stockholders' Equity | $290,528 | $280,156 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets [Parenthetical] (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Accounts and other receivables, allowance for doubtful accounts (in dollars) | $1,373 | $1,405 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue | $117,880 | $101,373 |
Cost of revenue | 99,525 | 85,192 |
Gross profit | 18,355 | 16,181 |
Selling, general and administrative expenses | 11,589 | 9,089 |
Gain on change in fair value of contingent consideration, net | 377 | 247 |
Operating income | 7,143 | 7,339 |
Interest expense | 205 | 100 |
Other income | 189 | 229 |
Income before income tax expense | 7,127 | 7,468 |
Income tax expense | 2,810 | 2,543 |
Net income | $4,317 | $4,925 |
Basic weighted average shares outstanding (in shares) | 19,141 | 19,060 |
Diluted weighted average shares outstanding (in shares) | 19,422 | 19,296 |
Per common share data: | ' | ' |
Basic earnings per share (in dollars per share) | $0.23 | $0.26 |
Diluted earnings per share (in dollars per share) | $0.22 | $0.26 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $4,317 | $4,925 |
Foreign currency translation adjustments | -360 | -1,908 |
Comprehensive income | $3,957 | $3,017 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $4,317 | $4,925 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Gain on change in fair value of contingent consideration, net | -377 | -247 |
Depreciation and amortization | 2,408 | 1,958 |
Deferred income taxes | 0 | -274 |
Non-cash compensation expense | 1,112 | 953 |
Changes in other operating items: | ' | ' |
Accounts and other receivables | -542 | 12,508 |
Costs and estimated earnings in excess of billings on uncompleted contracts | -10,338 | -3,887 |
Prepaid expenses and other current assets | -1,383 | -136 |
Accounts payable and accrued expenses | 1,938 | -6,042 |
Billings in excess of costs and estimated earnings on uncompleted contracts | 4,316 | -3,914 |
Contingent consideration payments in excess of fair value on acquisition date | -667 | -373 |
Other | -63 | -155 |
Net cash provided by operating activities | 721 | 5,316 |
Cash flows from investing activities: | ' | ' |
Additions to property, plant and equipment | -916 | -830 |
Net cash used in investing activities | -916 | -830 |
Cash flows from financing activities: | ' | ' |
Proceeds from short-term borrowings | 2,370 | 0 |
Change in negative cash book balances | -1,898 | 0 |
Contingent consideration payments | -338 | -602 |
Repurchases of common stock in the open market | -320 | -451 |
Other financing activities | 45 | -4 |
Net cash used in financing activities | -141 | -1,057 |
Effect of exchange rate changes on cash and cash equivalents | -84 | -143 |
Net increase in cash and cash equivalents | -420 | 3,286 |
Cash and cash equivalents at beginning of period | 5,647 | 7,761 |
Cash and cash equivalents at end of period | 5,227 | 11,047 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during the year for income taxes | $2,999 | $1,730 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | ||
Mar. 31, 2014 | |||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | ||
-1 | Basis of Presentation | ||
GP Strategies Corporation is a global performance improvement solutions provider of training, e-Learning solutions, management consulting and engineering services. References in this report to “GP Strategies,” the “Company,” “we” and “our” are to GP Strategies Corporation and its subsidiaries, collectively. | |||
The accompanying condensed consolidated balance sheet as of March 31, 2014 and the condensed consolidated statements of operations, comprehensive income and cash flows for the three months ended March 31, 2014 and 2013 have not been audited, but have been prepared in conformity with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2013, as presented in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. In the opinion of management, this interim information includes all material adjustments, which are of a normal and recurring nature, necessary for a fair presentation. The results for the 2014 interim period are not necessarily indicative of results to be expected for the entire year. Certain prior year amounts have been reclassified to conform to current year presentation. | |||
The condensed consolidated financial statements include the operations of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated. | |||
Significant_Customers_Concentr
Significant Customers & Concentration of Credit Risk | 3 Months Ended | ||
Mar. 31, 2014 | |||
Risks and Uncertainties [Abstract] | ' | ||
Concentration Risk Disclosure [Text Block] | ' | ||
-2 | Significant Customers & Concentration of Credit Risk | ||
We have a market concentration of revenue in both the automotive sector and financial & insurance sector. Revenue from the automotive industry accounted for approximately 12% and 15% of our consolidated revenue for the three months ended March 31, 2014 and 2013, respectively. Revenue from the financial & insurance industry accounted for approximately 14% and 9% of our consolidated revenue for the three months ended March 31, 2014 and 2013, respectively. We also have a concentration of revenue from the United States government. For the three months ended March 31, 2014 and 2013, sales to the United States government and its agencies represented approximately 10% of our consolidated revenue for both periods. Revenue was derived from many separate contracts with a variety of government agencies that are regarded by us as separate customers. No single customer accounted for more than 10% of our consolidated revenue for the three months ended March 31, 2014 and 2013. As of March 31, 2014, billed and unbilled accounts receivable from a single financial services customer totaled $15.8 million, or 12% of our consolidated accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts balances. | |||
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Share [Text Block] | ' | |||||||
-3 | Earnings Per Share | |||||||
Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. | ||||||||
Our dilutive common stock equivalent shares consist of stock options and restricted stock units computed under the treasury stock method, using the average market price during the period. The following table presents instruments which were not dilutive and were excluded from the computation of diluted EPS in each period, as well as the dilutive common stock equivalent shares which were included in the computation of diluted EPS: | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Non-dilutive instruments | — | 36 | ||||||
Dilutive common stock equivalents | 281 | 236 | ||||||
Acquisitions
Acquisitions | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||||||||||
-4 | Acquisitions | ||||||||||||||||
Effective Companies | |||||||||||||||||
On April 1, 2014, we completed the acquisitions of Effective-People and Effective Learning (the “Effective Companies”), providers of human capital management (HCM) solutions, including sales and support of the full SAP SuccessFactors Business Education (BizX) Platform, eLearning and blended learning solutions, as well as recruitment and employee development services. The Effective Companies are headquartered in Copenhagen, Denmark. The upfront purchase price for Effective Companies was $9.0 million which was paid in cash at closing. In addition, the purchase agreement requires up to an additional $6.4 million of consideration, contingent upon the achievement of certain earnings targets during the two twelve-month periods following completion of the acquisition, as defined in the purchase agreement. The Effective Companies will operate as part of our Learning Solutions segment effective April 1, 2014. | |||||||||||||||||
Contingent Consideration | |||||||||||||||||
Accounting Standards Codification (“ASC”) Topic 805 requires that contingent consideration be recognized at fair value on the acquisition date and be re-measured each reporting period with subsequent adjustments recognized in the consolidated statement of operations. We estimate the fair value of contingent consideration liabilities based on financial projections of the acquired companies and estimated probabilities of achievement and discount the liabilities to present value using a weighted-average cost of capital. Contingent consideration is valued using significant inputs that are not observable in the market which are defined as Level 3 inputs pursuant to fair value measurement accounting. We believe our estimates and assumptions are reasonable; however, there is significant judgment involved. At each reporting date, the contingent consideration obligation is revalued to estimated fair value, and changes in fair value subsequent to the acquisitions are reflected in income or expense in the consolidated statements of operations, and could cause a material impact to, and volatility in, our operating results. Changes in the fair value of contingent consideration obligations may result from changes in discount periods, changes in the timing and amount of revenue and/or earnings estimates and changes in probability assumptions with respect to the likelihood of achieving the various earn-out criteria. | |||||||||||||||||
Below is a summary of the potential contingent consideration we may be required to pay in connection with previously completed acquisitions as of March 31, 2014 (dollars in thousands): | |||||||||||||||||
Original range | |||||||||||||||||
of potential | As of March 31, 2014 | ||||||||||||||||
undiscounted | Maximum contingent consideration due in | ||||||||||||||||
Acquisition: | payments | 2014 | 2015 | Total | |||||||||||||
Asentus | $0 - $3,700 | $ | 1,600 | $ | — | $ | 1,600 | ||||||||||
Prospero | $0 - $4,520 | 2,712 | 1,808 | 4,520 | |||||||||||||
Lorien | $0 - $998 | 998 | — | 998 | |||||||||||||
Total | $ | 5,310 | $ | 1,808 | $ | 7,118 | |||||||||||
Below is a summary of the changes in the recorded amount of contingent consideration liabilities from December 31, 2013 to March 31, 2014 for each acquisition (dollars in thousands): | |||||||||||||||||
Change in | |||||||||||||||||
Liability as of | Fair Value of | Foreign | Liability as of | ||||||||||||||
December 31, | Contingent | Currency | March 31, | ||||||||||||||
Acquisition: | 2013 | Payments | Consideration | Translation | 2014 | ||||||||||||
Bath Consulting | $ | 997 | -1,005 | — | 8 | $ | — | ||||||||||
Prospero | 1,841 | — | -400 | -63 | 1,378 | ||||||||||||
Lorien | 959 | — | 23 | 8 | 990 | ||||||||||||
Total | $ | 3,797 | -1,005 | -377 | -47 | $ | 2,368 | ||||||||||
As of March 31, 2014 and December 31, 2013, contingent consideration included in accounts payable totaled $1.0 million and $2.4 million, respectively. As of March 31, 2014 and December 31, 2013, we also had accrued contingent consideration totaling $1.4 million related to acquisitions which is included in other long-term liabilities on the consolidated balance sheet and represents the portion of contingent consideration estimated to be payable greater than twelve months from the balance sheet date. | |||||||||||||||||
Intangible_Assets
Intangible Assets | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||||||
-5 | Intangible Assets | |||||||||||||||||||
Goodwill | ||||||||||||||||||||
Changes in the carrying amount of goodwill by reportable business segment for the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||||||||
Professional | Sandy | Performance | ||||||||||||||||||
Learning | & Technical | Training & | Readiness | Energy | ||||||||||||||||
Solutions | Services | Marketing | Solutions | Services | Total | |||||||||||||||
Balance as of December 31, 2013 | $ | 60,187 | $ | 37,690 | $ | 653 | $ | 9,795 | $ | 8,662 | $ | 116,987 | ||||||||
Foreign currency translation | -80 | — | — | — | -1 | -81 | ||||||||||||||
Balance as of March 31, 2014 | $ | 60,107 | $ | 37,690 | $ | 653 | $ | 9,795 | $ | 8,661 | $ | 116,906 | ||||||||
Intangible Assets Subject to Amortization | ||||||||||||||||||||
Intangible assets with finite lives are subject to amortization over their estimated useful lives. The primary assets included in this category and their respective balances were as follows (in thousands): | ||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Customer relationships | $ | 26,463 | $ | -14,296 | $ | 12,167 | ||||||||||||||
Tradenames | 191 | -143 | 48 | |||||||||||||||||
Intellectual property and other | 2,360 | -874 | 1,486 | |||||||||||||||||
$ | 29,014 | $ | -15,313 | $ | 13,701 | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Customer relationships | $ | 26,470 | $ | -13,070 | $ | 13,400 | ||||||||||||||
Tradenames | 191 | -119 | 72 | |||||||||||||||||
Intellectual property and other | 2,364 | -707 | 1,657 | |||||||||||||||||
$ | 29,025 | $ | -13,896 | $ | 15,129 | |||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||||
Stock-Based Compensation [Text Block] | ' | |||||||||||||
-6 | Stock-Based Compensation | |||||||||||||
We recognize compensation expense for stock-based compensation awards issued to employees that are expected to vest. Compensation cost is based on the fair value of awards as of the grant date. The pre-tax stock-based compensation expense included in reported net income was $0.5 million and $0.4 million for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||
Pursuant to our 2011 Stock Incentive Plan (the “2011 Plan”), we may grant awards of non-qualified stock options, incentive stock options, restricted stock, stock units, performance shares, performance units and other incentives payable in cash or in shares of our common stock to officers, employees or members of the Board of Directors. As of March 31, 2014, we had non-qualified stock options and restricted stock units outstanding under these plans as discussed below. | ||||||||||||||
Non-Qualified Stock Options | ||||||||||||||
Summarized information for our non-qualified stock options is as follows: | ||||||||||||||
Weighted | ||||||||||||||
average | ||||||||||||||
remaining | ||||||||||||||
Weighted | contractual | Aggregate | ||||||||||||
Number of | average | term | intrinsic | |||||||||||
Stock Options | options | exercise price | (in years) | value | ||||||||||
Outstanding at December 31, 2013 | 569,300 | $ | 9.41 | |||||||||||
Granted | — | — | ||||||||||||
Exercised | -4,000 | 7.27 | ||||||||||||
Forfeited | — | — | ||||||||||||
Expired | — | — | ||||||||||||
Outstanding at March 31, 2014 | 565,300 | $ | 9.42 | 2.2 | $ | 10,066,000 | ||||||||
Exercisable at March 31, 2014 | 356,900 | $ | 8.37 | 1.98 | $ | 6,732,000 | ||||||||
Restricted Stock Units | ||||||||||||||
In addition to stock options, we issue restricted stock units to key employees and members of the Board of Directors based on meeting certain service goals. The stock units vest to the recipients at various dates, up to five years, based on fulfilling service requirements. We recognize the value of the market price of the underlying stock on the date of grant as compensation expense over the requisite service period. Upon vesting, the stock units are settled in shares of our common stock. Summarized share information for our restricted stock units is as follows: | ||||||||||||||
Three | Weighted | |||||||||||||
months ended | average | |||||||||||||
March 31, | grant date | |||||||||||||
2014 | fair value | |||||||||||||
(In shares) | (In dollars) | |||||||||||||
Outstanding and unvested, beginning of period | 244,031 | $ | 22.17 | |||||||||||
Granted | — | — | ||||||||||||
Vested | -2,350 | 13.75 | ||||||||||||
Forfeited | — | — | ||||||||||||
Outstanding and unvested, end of period | 241,681 | $ | 22.25 | |||||||||||
ShortTerm_Borrowings
Short-Term Borrowings | 3 Months Ended | |
Mar. 31, 2014 | ||
Debt Disclosure [Abstract] | ' | |
Short-Term Borrowings [Text Block] | ' | |
-7 | Short-Term Borrowings | |
We have a $50 million Financing and Security Agreement (the “Credit Agreement”) with a bank that expires on October 31, 2015 and is secured by certain of our assets. The Credit Agreement contains a provision to increase the maximum principal amount to $75 million upon lender approval. The maximum interest rate on borrowings under the Credit Agreement is the daily LIBOR market index rate plus 2.25%. Based upon our financial performance, the interest rate can be reduced to a minimum of LIBOR plus 1.0%. For the three months ended March 31, 2014, the weighted average interest rate on our borrowings was 1.5%. The Credit Agreement contains covenants with respect to our minimum tangible net worth, total liabilities to tangible net worth ratio and cash flow to debt service ratio, all of which were in compliance with the Credit Agreement as of March 31, 2014. As of March 31, 2014, there were $2.8 million of borrowings outstanding and $46.1 million of available borrowings under the Credit Agreement. | ||
Income_Taxes
Income Taxes | 3 Months Ended | ||
Mar. 31, 2014 | |||
Income Tax Disclosure [Abstract] | ' | ||
Income Taxes [Text Block] | ' | ||
-8 | Income Taxes | ||
Income tax expense was $2.8 million, or an effective income tax rate of 39.4%, for the three months ended March 31, 2014 compared to $2.5 million, or an effective income tax rate of 34.1%, for the three months ended March 31, 2013. During the first quarter of 2013, we recorded one-time income tax benefits totaling $373,000 for a foreign subsidiary. Excluding these discrete items recorded in the prior year quarter, the effective income tax rate was 39.1% for the first quarter of 2013. Income tax expense for the quarterly periods is based on an estimated annual effective tax rate which includes the federal, state and foreign statutory rates, permanent differences, and other items that may have an impact on income tax expense. | |||
An uncertain tax position taken or expected to be taken in a tax return is recognized in the financial statements when it is more likely than not (i.e., a likelihood of more than fifty percent) that the position would be sustained upon examination by tax authorities that have full knowledge of all relevant information. A recognized tax position is then measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Interest and penalties related to income taxes are accounted for as income tax expense. As of March 31, 2014, we had no uncertain tax positions reflected on our consolidated balance sheet. The Company files income tax returns in U.S. federal, state and local jurisdictions, and various non-U.S. jurisdictions, and is subject to audit by tax authorities in those jurisdictions. Tax years 2010 through 2013 remain open to examination by these tax jurisdictions, with a few exceptions in certain jurisdictions which have longer statutes. | |||
Stockholders_Equity
Stockholders' Equity | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||||||
Stockholders Equity Note Disclosure [Text Block] | ' | |||||||||||||||||||
-9 | Stockholders’ Equity | |||||||||||||||||||
Changes in stockholders’ equity during the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||||||||
Accumulated | ||||||||||||||||||||
Additional | Treasury | other | Total | |||||||||||||||||
Common | paid-in | Retained | stock | comprehensive | stockholders’ | |||||||||||||||
stock | capital | earnings | at cost | loss | equity | |||||||||||||||
Balance at December 31, 2013 | $ | 192 | $ | 167,908 | $ | 27,711 | $ | -1,170 | $ | -1,614 | $ | 193,027 | ||||||||
Net income | - | - | 4,317 | - | - | 4,317 | ||||||||||||||
Foreign currency translation adjustments | - | - | - | - | -360 | -360 | ||||||||||||||
Repurchases of common stock in the open market | - | - | - | -320 | - | -320 | ||||||||||||||
Stock-based compensation | - | 506 | - | - | - | 506 | ||||||||||||||
Issuance of stock for employer contributions to retirement plan | - | 33 | - | 573 | - | 606 | ||||||||||||||
Other | - | -191 | - | 238 | - | 47 | ||||||||||||||
Balance at March 31, 2014 | $ | 192 | $ | 168,256 | $ | 32,028 | $ | -679 | $ | -1,974 | $ | 197,823 | ||||||||
Business_Segments
Business Segments | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
Business Segments [Text Block] | ' | |||||||
-10 | Business Segments | |||||||
As of March 31, 2014, we operated through five reportable business segments: (i) Learning Solutions, (ii) Professional & Technical Services, (iii) Sandy Training & Marketing, (iv) Performance Readiness Solutions, and (v) Energy Services. Our Learning Solutions segment represents an aggregation of two operating segments in accordance with the aggregation criteria in U.S. GAAP, while all of the other reportable segments each represent one operating segment. We are organized by operating group primarily based upon the markets served by each group and/or the services performed. Each operating group consists of business units which are focused on providing specific products and services to certain classes of customers or within targeted markets. Marketing and communications, accounting, finance, legal, human resources, information systems and other administrative services are organized at the corporate level. Business development and sales resources are aligned with operating groups to support existing customer accounts and new customer development. | ||||||||
Further information regarding our business segments is discussed below. | ||||||||
Learning Solutions. The Learning Solutions segment delivers training, curriculum design and development, e-Learning services, system hosting, training business process outsourcing and consulting services globally through our offices in the U.S., Europe, Asia and Canada. This segment also offers organizational performance solutions including leadership training and employee engagement tools and services. This segment serves large companies in the electronics and semiconductors, healthcare, software, financial services and other industries as well as to government agencies. The ability to deliver a wide range of training services on a global basis allows this segment to take over the entire learning function for the client, including their training personnel. | ||||||||
Professional & Technical Services. This segment has over four decades of experience providing training, consulting, engineering and technical services, including lean consulting, emergency preparedness, safety and regulatory compliance, chemical demilitarization and environmental services primarily to large companies in the manufacturing, steel, pharmaceutical and petrochemical industries, federal and state government agencies and large government contractors. | ||||||||
Sandy Training & Marketing. The Sandy Training & Marketing segment provides custom product sales training and has been a leader in serving manufacturing customers in the U.S. automotive industry for over 30 years. Sandy provides custom product sales training designed to better educate customer sales forces with respect to new vehicle features and designs, in effect rapidly increasing the sales force knowledge base and enabling them to address detailed customer queries. Furthermore, Sandy helps our clients assess their customer relationship marketing strategy, measure performance against competitors and connect with their customers on a one-to-one basis. This segment also provides technical training services to automotive manufacturers as well as customers in other industries. | ||||||||
Performance Readiness Solutions. This segment provides performance consulting and technology consulting services, including platform adoption, end-user training, change management, knowledge management, customer product training outsourcing and sales enablement solutions in industries such as manufacturing, aerospace, healthcare, life sciences, consumer products, financial, telecommunications, services and higher education as well as the public sector. | ||||||||
Energy Services. The Energy Services segment provides engineering services, products and training primarily to electric power generators. Our proprietary EtaPROTM Performance and Condition Monitoring System provides a suite of real-time software solutions for power generation facilities and is installed on power generating units across the world. In addition to providing custom training solutions, this segment provides web-based training through our GPiLearnTM portal, which offers a variety of courses to power plant personnel in the U.S. and several other countries. This segment also provides services to users of alternative fuels, including designing and constructing liquefied natural gas (LNG), liquid to compressed natural gas (LCNG) and hydrogen fueling stations, as well as supplying fuel and equipment. | ||||||||
We do not allocate the following items to the segments: other income, interest expense, gain (loss) on change in fair value of contingent consideration and income tax expense. Inter-segment revenue is eliminated in consolidation and is not significant. | ||||||||
The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated income before income tax expense (in thousands): | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Revenue: | ||||||||
Learning Solutions | $ | 52,967 | $ | 42,734 | ||||
Professional & Technical Services | 19,910 | 18,015 | ||||||
Sandy Training & Marketing | 14,258 | 14,998 | ||||||
Performance Readiness Solutions | 13,009 | 15,500 | ||||||
Energy Services | 17,736 | 10,126 | ||||||
$ | 117,880 | $ | 101,373 | |||||
Operating income: | ||||||||
Learning Solutions | $ | 1,048 | $ | 3,212 | ||||
Professional & Technical Services | 2,361 | 1,058 | ||||||
Sandy Training & Marketing | 577 | 629 | ||||||
Performance Readiness Solutions | 501 | 579 | ||||||
Energy Services | 2,279 | 1,614 | ||||||
Gain on change in fair value of contingent consideration, net | 377 | 247 | ||||||
Operating income | 7,143 | 7,339 | ||||||
Interest expense | 205 | 100 | ||||||
Other income | 189 | 229 | ||||||
Income before income tax expense | $ | 7,127 | $ | 7,468 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||
The following table presents instruments which were not dilutive and were excluded from the computation of diluted EPS in each period, as well as the dilutive common stock equivalent shares which were included in the computation of diluted EPS: | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Non-dilutive instruments | — | 36 | ||||||
Dilutive common stock equivalents | 281 | 236 | ||||||
Acquisitions_Tables
Acquisitions (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | ' | ||||||||||||||||
Below is a summary of the potential contingent consideration we may be required to pay in connection with previously completed acquisitions as of March 31, 2014 (dollars in thousands): | |||||||||||||||||
Original range | |||||||||||||||||
of potential | As of March 31, 2014 | ||||||||||||||||
undiscounted | Maximum contingent consideration due in | ||||||||||||||||
Acquisition: | payments | 2014 | 2015 | Total | |||||||||||||
Asentus | $0 - $3,700 | $ | 1,600 | $ | — | $ | 1,600 | ||||||||||
Prospero | $0 - $4,520 | 2,712 | 1,808 | 4,520 | |||||||||||||
Lorien | $0 - $998 | 998 | — | 998 | |||||||||||||
Total | $ | 5,310 | $ | 1,808 | $ | 7,118 | |||||||||||
Schedule Of Contingent Consideration Liabilities For Acquisition [Table Text Block] | ' | ||||||||||||||||
Below is a summary of the changes in the recorded amount of contingent consideration liabilities from December 31, 2013 to March 31, 2014 for each acquisition (dollars in thousands): | |||||||||||||||||
Change in | |||||||||||||||||
Liability as of | Fair Value of | Foreign | Liability as of | ||||||||||||||
December 31, | Contingent | Currency | March 31, | ||||||||||||||
Acquisition: | 2013 | Payments | Consideration | Translation | 2014 | ||||||||||||
Bath Consulting | $ | 997 | -1,005 | — | 8 | $ | — | ||||||||||
Prospero | 1,841 | — | -400 | -63 | 1,378 | ||||||||||||
Lorien | 959 | — | 23 | 8 | 990 | ||||||||||||
Total | $ | 3,797 | -1,005 | -377 | -47 | $ | 2,368 | ||||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||||||||||
Changes in the carrying amount of goodwill by reportable business segment for the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||||||||
Professional | Sandy | Performance | ||||||||||||||||||
Learning | & Technical | Training & | Readiness | Energy | ||||||||||||||||
Solutions | Services | Marketing | Solutions | Services | Total | |||||||||||||||
Balance as of December 31, 2013 | $ | 60,187 | $ | 37,690 | $ | 653 | $ | 9,795 | $ | 8,662 | $ | 116,987 | ||||||||
Foreign currency translation | -80 | — | — | — | -1 | -81 | ||||||||||||||
Balance as of March 31, 2014 | $ | 60,107 | $ | 37,690 | $ | 653 | $ | 9,795 | $ | 8,661 | $ | 116,906 | ||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||||||
Intangible assets with finite lives are subject to amortization over their estimated useful lives. The primary assets included in this category and their respective balances were as follows (in thousands): | ||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Customer relationships | $ | 26,463 | $ | -14,296 | $ | 12,167 | ||||||||||||||
Tradenames | 191 | -143 | 48 | |||||||||||||||||
Intellectual property and other | 2,360 | -874 | 1,486 | |||||||||||||||||
$ | 29,014 | $ | -15,313 | $ | 13,701 | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Customer relationships | $ | 26,470 | $ | -13,070 | $ | 13,400 | ||||||||||||||
Tradenames | 191 | -119 | 72 | |||||||||||||||||
Intellectual property and other | 2,364 | -707 | 1,657 | |||||||||||||||||
$ | 29,025 | $ | -13,896 | $ | 15,129 | |||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||
Summarized information for our non-qualified stock options is as follows: | ||||||||||||||
Weighted | ||||||||||||||
average | ||||||||||||||
remaining | ||||||||||||||
Weighted | contractual | Aggregate | ||||||||||||
Number of | average | term | intrinsic | |||||||||||
Stock Options | options | exercise price | (in years) | value | ||||||||||
Outstanding at December 31, 2013 | 569,300 | $ | 9.41 | |||||||||||
Granted | — | — | ||||||||||||
Exercised | -4,000 | 7.27 | ||||||||||||
Forfeited | — | — | ||||||||||||
Expired | — | — | ||||||||||||
Outstanding at March 31, 2014 | 565,300 | $ | 9.42 | 2.2 | $ | 10,066,000 | ||||||||
Exercisable at March 31, 2014 | 356,900 | $ | 8.37 | 1.98 | $ | 6,732,000 | ||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||
Summarized share information for our restricted stock units is as follows: | ||||||||||||||
Three | Weighted | |||||||||||||
months ended | average | |||||||||||||
March 31, | grant date | |||||||||||||
2014 | fair value | |||||||||||||
(In shares) | (In dollars) | |||||||||||||
Outstanding and unvested, beginning of period | 244,031 | $ | 22.17 | |||||||||||
Granted | — | — | ||||||||||||
Vested | -2,350 | 13.75 | ||||||||||||
Forfeited | — | — | ||||||||||||
Outstanding and unvested, end of period | 241,681 | $ | 22.25 | |||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | |||||||||||||||||||
Changes in stockholders’ equity during the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||||||||
Accumulated | ||||||||||||||||||||
Additional | Treasury | other | Total | |||||||||||||||||
Common | paid-in | Retained | stock | comprehensive | stockholders’ | |||||||||||||||
stock | capital | earnings | at cost | loss | equity | |||||||||||||||
Balance at December 31, 2013 | $ | 192 | $ | 167,908 | $ | 27,711 | $ | -1,170 | $ | -1,614 | $ | 193,027 | ||||||||
Net income | - | - | 4,317 | - | - | 4,317 | ||||||||||||||
Foreign currency translation adjustments | - | - | - | - | -360 | -360 | ||||||||||||||
Repurchases of common stock in the open market | - | - | - | -320 | - | -320 | ||||||||||||||
Stock-based compensation | - | 506 | - | - | - | 506 | ||||||||||||||
Issuance of stock for employer contributions to retirement plan | - | 33 | - | 573 | - | 606 | ||||||||||||||
Other | - | -191 | - | 238 | - | 47 | ||||||||||||||
Balance at March 31, 2014 | $ | 192 | $ | 168,256 | $ | 32,028 | $ | -679 | $ | -1,974 | $ | 197,823 | ||||||||
Business_Segments_Tables
Business Segments (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting Information [Line Items] | ' | |||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | |||||||
The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated income before income tax expense (in thousands): | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Revenue: | ||||||||
Learning Solutions | $ | 52,967 | $ | 42,734 | ||||
Professional & Technical Services | 19,910 | 18,015 | ||||||
Sandy Training & Marketing | 14,258 | 14,998 | ||||||
Performance Readiness Solutions | 13,009 | 15,500 | ||||||
Energy Services | 17,736 | 10,126 | ||||||
$ | 117,880 | $ | 101,373 | |||||
Operating income: | ||||||||
Learning Solutions | $ | 1,048 | $ | 3,212 | ||||
Professional & Technical Services | 2,361 | 1,058 | ||||||
Sandy Training & Marketing | 577 | 629 | ||||||
Performance Readiness Solutions | 501 | 579 | ||||||
Energy Services | 2,279 | 1,614 | ||||||
Gain on change in fair value of contingent consideration, net | 377 | 247 | ||||||
Operating income | 7,143 | 7,339 | ||||||
Interest expense | 205 | 100 | ||||||
Other income | 189 | 229 | ||||||
Income before income tax expense | $ | 7,127 | $ | 7,468 | ||||
Significant_Customers_Concentr1
Significant Customers & Concentration of Credit Risk (Details Textual) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Single Automotive Customer [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Maximum Concentration Risk Percentage | 10.00% | 10.00% |
United States Government [Member] | Sales Revenue, Net [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 10.00% | 10.00% |
Automotive Industry [Member] | Sales Revenue, Net [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Segment Concentration Risk Percentage | 12.00% | 15.00% |
Financial And Insurance industry [Member] | Sales Revenue, Net [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 14.00% | 9.00% |
Single Financial Services Customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 12.00% | ' |
Accounts Receivable, Net, Current | 15.8 | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Line Items] | ' | ' |
Non-dilutive instruments | 0 | 36 |
Dilutive common stock equivalents | 281 | 236 |
Acquisitions_Details
Acquisitions (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Business Acquisition [Line Items] | ' |
Maximum contingent consideration due in 2014 | $5,310 |
Maximum contingent consideration due in 2015 | 1,808 |
Maximum contingent consideration due in Total | 7,118 |
Asentus [Member] | ' |
Business Acquisition [Line Items] | ' |
Original range of potential undiscounted payments minimum | 0 |
Original range of potential undiscounted payments maximum | 3,700 |
Maximum contingent consideration due in 2014 | 1,600 |
Maximum contingent consideration due in 2015 | 0 |
Maximum contingent consideration due in Total | 1,600 |
Prospero [Member] | ' |
Business Acquisition [Line Items] | ' |
Original range of potential undiscounted payments minimum | 0 |
Original range of potential undiscounted payments maximum | 4,520 |
Maximum contingent consideration due in 2014 | 2,712 |
Maximum contingent consideration due in 2015 | 1,808 |
Maximum contingent consideration due in Total | 4,520 |
Lorien [Member] | ' |
Business Acquisition [Line Items] | ' |
Original range of potential undiscounted payments minimum | 0 |
Original range of potential undiscounted payments maximum | 998 |
Maximum contingent consideration due in 2014 | 998 |
Maximum contingent consideration due in 2015 | 0 |
Maximum contingent consideration due in Total | $998 |
Acquisitions_Details_1
Acquisitions (Details 1) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Business Acquisition [Line Items] | ' |
Liability as of December 31, 2013 | $3,797 |
Payments | -1,005 |
Change in Fair Value of Contingent Consideration | -377 |
Foreign Currency Translation | -47 |
Liability as of March 31, 2014 | 2,368 |
Bath Consulting [Member] | ' |
Business Acquisition [Line Items] | ' |
Liability as of December 31, 2013 | 997 |
Payments | -1,005 |
Change in Fair Value of Contingent Consideration | 0 |
Foreign Currency Translation | 8 |
Liability as of March 31, 2014 | 0 |
Prospero [Member] | ' |
Business Acquisition [Line Items] | ' |
Liability as of December 31, 2013 | 1,841 |
Payments | 0 |
Change in Fair Value of Contingent Consideration | -400 |
Foreign Currency Translation | -63 |
Liability as of March 31, 2014 | 1,378 |
Lorien [Member] | ' |
Business Acquisition [Line Items] | ' |
Liability as of December 31, 2013 | 959 |
Payments | 0 |
Change in Fair Value of Contingent Consideration | 23 |
Foreign Currency Translation | 8 |
Liability as of March 31, 2014 | $990 |
Acquisitions_Details_Textual
Acquisitions (Details Textual) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Apr. 01, 2014 |
In Millions, unless otherwise specified | Effective Companies [Member] | ||
Business Acquisition [Line Items] | ' | ' | ' |
Business acquisition contingent consideration, other long term liability | $1.40 | $1.40 | ' |
Business Acquisition Purchase Price Of Acquired Entity Cash Paid | ' | ' | 9 |
Business Acquisition Additional Contingent Consideration | ' | ' | 6.4 |
Business Acquisition Contingent Consideration Accounts Payable And Accrued Liability | $1 | $2.40 | ' |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | $116,987 |
Foreign currency translation | -81 |
Balance | 116,906 |
Learning Solutions [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | 60,187 |
Foreign currency translation | -80 |
Balance | 60,107 |
Professional and Technical Services [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | 37,690 |
Foreign currency translation | 0 |
Balance | 37,690 |
Sandy Training & Marketing [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | 653 |
Foreign currency translation | 0 |
Balance | 653 |
Performance Readiness Group [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | 9,795 |
Foreign currency translation | 0 |
Balance | 9,795 |
Energy Services [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Balance | 8,662 |
Foreign currency translation | -1 |
Balance | $8,661 |
Intangible_Assets_Details_1
Intangible Assets (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $29,014 | $29,025 |
Accumulated Amortization | -15,313 | -13,896 |
Net Carrying Amount | 13,701 | 15,129 |
Customer relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 26,463 | 26,470 |
Accumulated Amortization | -14,296 | -13,070 |
Net Carrying Amount | 12,167 | 13,400 |
Tradenames [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 191 | 191 |
Accumulated Amortization | -143 | -119 |
Net Carrying Amount | 48 | 72 |
Intellectual Property and Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,360 | 2,364 |
Accumulated Amortization | -874 | -707 |
Net Carrying Amount | $1,486 | $1,657 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (Non Qualified Stock Option [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Non Qualified Stock Option [Member] | ' |
Stock Based Compensation [Line Items] | ' |
Outstanding at December 31, 2013, Number of options | 569,300 |
Granted, Number of options | 0 |
Exercised, Number of options | -4,000 |
Forfeited, Number of options | 0 |
Expired, Number of options | 0 |
Outstanding at March 31, 2014, Number of options | 565,300 |
Exercisable at March 31, 2014, Number of options | 356,900 |
Outstanding at December 31, 2013, Weighted average exercise price | $9.41 |
Granted, Weighted average exercise price | $0 |
Exercised, Weighted average exercise price | $7.27 |
Forfeited, Weighted average exercise price | $0 |
Expired, Weighted average exercise price | $0 |
Outstanding at March 31, 2014, Weighted average exercise price | $9.42 |
Exercisable at March 31, 2014, Weighted average exercise price | $8.37 |
Outstanding at March 31, 2014, Weighted average remaining contractual term (in years) | '2 years 2 months 12 days |
Exercisable at Mach 31, 2014, Weighted average remaining contractual term (in years) | '1 year 11 months 23 days |
Outstanding at March 31, 2014, Aggregate intrinsic value | $10,066,000 |
Exercisable at March 31, 2014, Aggregate intrinsic value | $6,732,000 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Stock Based Compensation [Line Items] | ' |
Outstanding and unvested, beginning of period | 244,031 |
Granted | 0 |
Vested | -2,350 |
Forfeited | 0 |
Outstanding and unvested, end of period | 241,681 |
Outstanding and unvested, beginning of period, Weighted average grant date fair value | $22.17 |
Granted, Weighted average grant date fair value | $0 |
Vested, Weighted average grant date fair value | $13.75 |
Forfeited, Weighted average grant date fair value | $0 |
Outstanding and unvested, end of period, Weighted average grant date fair value | $22.25 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details Textual) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Stock Based Compensation [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | $506 | $400 |
ShortTerm_Borrowings_Details_T
Short-Term Borrowings (Details Textual) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Short-term Debt [Line Items] | ' |
Line of Credit Facility, Amount Outstanding | 2.8 |
Line of Credit Facility, Remaining Borrowing Capacity | 46.1 |
Short-term Debt, Weighted Average Interest Rate | 1.50% |
Maximum [Member] | ' |
Short-term Debt [Line Items] | ' |
Line of Credit Facility, Interest Rate Description | 'LIBOR market index rate plus 2.25% |
Minimum [Member] | ' |
Short-term Debt [Line Items] | ' |
Line of Credit Facility, Interest Rate Description | 'minimum of LIBOR plus 1.0% |
Financing and Security Agreement [Member] | ' |
Short-term Debt [Line Items] | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 50 |
Line of Credit Facility, Expiration Date 1 | 31-Oct-15 |
Line of Credit Facility Provision to Increase Borrowing Capacity | 75 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Tax [Line Items] | ' | ' |
Effective Income Tax Rate, Continuing Operations | 39.40% | 34.10% |
Income Tax Expense (Benefit) | $2,810,000 | $2,543,000 |
One Time Income Tax Benefits | ' | $373,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | ' | 39.10% |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Stockholders Equity [Line Items] | ' | ' |
Balance | $193,027 | ' |
Net income | 4,317 | 4,925 |
Foreign currency translation adjustments | -360 | ' |
Repurchases of common stock in the open market | -320 | ' |
Stock-based compensation | 506 | 400 |
Issuance of stock for employer contributions to retirement plan | 606 | ' |
Other | 47 | ' |
Balance | 197,823 | ' |
Common Stock [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Balance | 192 | ' |
Net income | 0 | ' |
Foreign currency translation adjustments | 0 | ' |
Repurchases of common stock in the open market | 0 | ' |
Stock-based compensation | 0 | ' |
Issuance of stock for employer contributions to retirement plan | 0 | ' |
Other | 0 | ' |
Balance | 192 | ' |
Additional Paid-in Capital [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Balance | 167,908 | ' |
Net income | 0 | ' |
Foreign currency translation adjustments | 0 | ' |
Repurchases of common stock in the open market | 0 | ' |
Stock-based compensation | 506 | ' |
Issuance of stock for employer contributions to retirement plan | 33 | ' |
Other | -191 | ' |
Balance | 168,256 | ' |
Retained Earnings [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Balance | 27,711 | ' |
Net income | 4,317 | ' |
Foreign currency translation adjustments | 0 | ' |
Repurchases of common stock in the open market | 0 | ' |
Stock-based compensation | 0 | ' |
Issuance of stock for employer contributions to retirement plan | 0 | ' |
Other | 0 | ' |
Balance | 32,028 | ' |
Treasury Stock [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Balance | -1,170 | ' |
Net income | 0 | ' |
Foreign currency translation adjustments | 0 | ' |
Repurchases of common stock in the open market | -320 | ' |
Stock-based compensation | 0 | ' |
Issuance of stock for employer contributions to retirement plan | 573 | ' |
Other | 238 | ' |
Balance | -679 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Balance | -1,614 | ' |
Net income | 0 | ' |
Foreign currency translation adjustments | -360 | ' |
Repurchases of common stock in the open market | 0 | ' |
Stock-based compensation | 0 | ' |
Issuance of stock for employer contributions to retirement plan | 0 | ' |
Other | 0 | ' |
Balance | ($1,974) | ' |
Business_Segments_Details
Business Segments (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | $117,880 | $101,373 |
Gain on change in fair value of contingent consideration, net | 377 | 247 |
Operating income | 7,143 | 7,339 |
Interest expense | 205 | 100 |
Other income | 189 | 229 |
Income before income tax expense | 7,127 | 7,468 |
Learning Solutions [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | 52,967 | 42,734 |
Operating income | 1,048 | 3,212 |
Professional and Technical Services [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | 19,910 | 18,015 |
Operating income | 2,361 | 1,058 |
Sandy Training and Marketing [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | 14,258 | 14,998 |
Operating income | 577 | 629 |
Performance Readiness Solutions [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | 13,009 | 15,500 |
Operating income | 501 | 579 |
Energy Services [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue | 17,736 | 10,126 |
Operating income | $2,279 | $1,614 |