Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 01, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PAR TECHNOLOGY CORP | ' |
Entity Central Index Key | '0000708821 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 15,545,074 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (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 |
Net revenues: | ' | ' | ' | ' |
Product | $22,018 | $22,673 | $63,563 | $68,846 |
Service | 14,141 | 14,697 | 43,311 | 46,031 |
Contract | 20,132 | 18,168 | 63,360 | 66,851 |
Revenue, net | 56,291 | 55,538 | 170,234 | 181,728 |
Costs of sales: | ' | ' | ' | ' |
Product | 14,160 | 15,492 | 42,878 | 46,806 |
Service | 10,088 | 11,042 | 30,472 | 33,498 |
Contract | 18,791 | 16,649 | 59,358 | 62,440 |
Cost of goods and services sold | 43,039 | 43,183 | 132,708 | 142,744 |
Gross margin | 13,252 | 12,355 | 37,526 | 38,984 |
Operating expenses: | ' | ' | ' | ' |
Selling, general and administrative | 9,379 | 8,616 | 28,155 | 28,315 |
Research and development | 4,017 | 3,730 | 11,642 | 11,576 |
Amortization of identifiable intangible assets | 31 | 0 | 31 | 0 |
Operating expenses | 13,427 | 12,346 | 39,828 | 39,891 |
Operating income (loss) from continuing operations | -175 | 9 | -2,302 | -907 |
Other income (expense) net | -20 | 152 | 308 | 373 |
Interest expense | -21 | -16 | -63 | -42 |
Income (loss) from continuing operations before benefit for income taxes | -216 | 145 | -2,057 | -576 |
Benefit for income taxes | 107 | 300 | 440 | 900 |
Income (loss) from continuing operations | -109 | 445 | -1,617 | 324 |
Discontinued operations | ' | ' | ' | ' |
Loss on discontinued operations (net of tax) | 0 | -5 | 0 | -211 |
Net Income (loss) | ($109) | $440 | ($1,617) | $113 |
Basic Earnings per Share: | ' | ' | ' | ' |
Income (loss) from continuing operations (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.02 |
Loss from discontinued operations (in dollars per share) | $0 | $0 | $0 | ($0.01) |
Net income (loss) (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.01 |
Diluted Earnings per Share: | ' | ' | ' | ' |
Income (loss) from continuing operations (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.02 |
Loss from discontinued operations (in dollars per share) | $0 | $0 | $0 | ($0.01) |
Net income (loss) (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.01 |
Weighted average shares outstanding | ' | ' | ' | ' |
Basic (in shares) | 15,577 | 15,405 | 15,498 | 15,228 |
Diluted (in shares) | 15,577 | 15,446 | 15,498 | 15,253 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE 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 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Abstract] | ' | ' | ' | ' |
Net income (loss) | ($109) | $440 | ($1,617) | $113 |
Other comprehensive income (loss) net of applicable tax: | ' | ' | ' | ' |
Foreign currency translation adjustments | 343 | 150 | 258 | -299 |
Comprehensive income (loss) | $234 | $590 | ($1,359) | ($186) |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $10,269 | $10,015 |
Accounts receivable - net | 31,272 | 30,688 |
Inventories-net | 25,518 | 24,465 |
Income tax refund | 434 | 0 |
Deferred income taxes | 5,034 | 3,747 |
Other current assets | 4,239 | 3,418 |
Total current assets | 76,766 | 72,333 |
Property, plant and equipment - net | 6,034 | 5,494 |
Deferred income taxes | 14,236 | 15,083 |
Goodwill | 14,157 | 6,852 |
Intangible assets - net | 23,084 | 15,071 |
Other assets | 2,893 | 2,675 |
Total Assets | 137,170 | 117,508 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 3,171 | 166 |
Borrowings under line of credit | 5,982 | 0 |
Accounts payable | 18,797 | 17,200 |
Accrued salaries and benefits | 6,421 | 6,663 |
Accrued expenses | 3,926 | 2,701 |
Customer deposits | 1,173 | 1,071 |
Deferred service revenue | 14,433 | 12,170 |
Income taxes payable | 0 | 185 |
Total current liabilities | 53,903 | 40,156 |
Long-term debt | 7,183 | 918 |
Other long-term liabilities | 3,724 | 3,714 |
Total liabilities | 64,810 | 44,788 |
Commitments and contingencies | ' | ' |
Shareholders' Equity: | ' | ' |
Preferred stock, $.02 par value, 1,000,000 shares authorized | 0 | 0 |
Common stock, $.02 par value, 29,000,000 shares authorized; 17,253,183 and 17,301,925 shares issued; 15,545,074 and 15,593,816 outstanding | 345 | 344 |
Capital in excess of par value | 44,633 | 43,635 |
Retained earnings | 33,499 | 35,116 |
Accumulated other comprehensive loss | -281 | -539 |
Treasury stock, at cost, 1,708,109 shares | -5,836 | -5,836 |
Total shareholders' equity | 72,360 | 72,720 |
Total Liabilities and Shareholders' Equity | $137,170 | $117,508 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Shareholders Equity: | ' | ' |
Preferred stock, par value (in dollars per share) | $0.02 | $0.02 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $0.02 | $0.02 |
Common stock, authorized (in shares) | 29,000,000 | 29,000,000 |
Common stock, issued (in shares) | 17,253,183 | 17,301,925 |
Common stock, outstanding (in shares) | 15,545,074 | 15,593,816 |
Treasury stock, at cost (in shares) | 1,708,109 | 1,708,109 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from operating activities: | ' | ' |
Net income (loss) | ($1,617,000) | $113,000 |
Loss from discontinued operations | 0 | 211,000 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 2,531,000 | 2,005,000 |
Provision for bad debts | 236,000 | 385,000 |
Provision for obsolete inventory | 1,870,000 | 1,877,000 |
Equity based compensation | 987,000 | -85,000 |
Deferred income tax | -440,000 | -1,008,000 |
Changes in operating assets and liabilities, net of acquisitions: | ' | ' |
Accounts receivable | -820,000 | 3,482,000 |
Inventories | -2,923,000 | -1,004,000 |
Income tax receivable/payable | -619,000 | -1,009,000 |
Other current assets | -929,000 | -526,000 |
Other assets | -216,000 | 605,000 |
Accounts payable | 1,598,000 | -8,702,000 |
Accrued salaries and benefits | -242,000 | 6,000 |
Accrued expenses | 1,225,000 | -2,295,000 |
Customer deposits | 102,000 | -441,000 |
Deferred service revenue | 2,263,000 | 1,191,000 |
Other liabilities | 10,000 | 563,000 |
Net cash provided by (used in) operating activities-continuing operations | 3,016,000 | -4,632,000 |
Net cash used in operating activities-discontinued operations | 0 | -396,000 |
Net cash provided by (used in) operating activities | 3,016,000 | -5,028,000 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -1,633,000 | -762,000 |
Capitalization of software costs | -2,257,000 | -3,216,000 |
Payments for acquisition | -5,000,000 | 0 |
Net cash used in investing activities | -8,890,000 | -3,978,000 |
Cash flows from financing activities: | ' | ' |
Payments of long-term debt | -129,000 | -119,000 |
Proceeds from other borrowings | 5,982,000 | 0 |
Proceeds from the exercise of stock options | 13,000 | 52,000 |
Net cash used in financing activities | 5,866,000 | -67,000 |
Effect of exchange rate changes on cash and cash equivalents | 262,000 | -300,000 |
Net increase (decrease) in cash and cash equivalents | 254,000 | -9,373,000 |
Cash and cash equivalents at beginning of period | 10,015,000 | 19,475,000 |
Cash and cash equivalents at end of period | 10,269,000 | 10,102,000 |
Less cash and equivalents of discontinued operations at end of period | 0 | 0 |
Cash and equivalents of continuing operations at end of period | 10,269,000 | 10,102,000 |
Cash paid during the period for: | ' | ' |
Interest | 63,000 | 42,000 |
Income taxes, net of (refunds) | $592,000 | $1,034,000 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1 — Summary of Significant Accounting Policies | |
The accompanying unaudited interim consolidated financial statements have been prepared by PAR Technology Corporation (the “Company” or “PAR”) in accordance with U.S. generally accepted accounting principles for interim financial statements and with the instructions to Form 10-Q and Regulation S-X pertaining to interim financial statements. Accordingly, these interim financial statements do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of the Company, such unaudited statements include all adjustments (which comprise only normal recurring accruals) necessary for a fair presentation of the results for such periods. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results of operations to be expected for any future period. The consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2013 included in the Company’s December 31, 2013 Annual Report to the Securities and Exchange Commission on Form 10-K. | |
The preparation of consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include: the carrying amount of property, plant and equipment, identifiable intangible assets and goodwill, equity based compensation, and valuation allowances for receivables, inventories and deferred income taxes. Actual results could differ from those estimates. | |
The current economic conditions and the continued financial volatility in the U.S. and in many other countries in which the Company operates could contribute to decreased consumer confidence and continued economic uncertainty which may adversely impact the Company’s operating performance. The Company continues to see strength in the markets which it serves; however the continued instability in the global economy could have an impact on purchases of the Company’s products, which could result in a reduction of sales, operating income and cash flows. A decline in these results could have a material adverse impact on the underlying estimates used in deriving the fair value of the Company’s reporting units used in support of its annual goodwill impairment test. These conditions may result in an impairment charge in future periods. | |
Certain amounts for prior periods have been reclassified to conform to the current period classification. |
Acquisition
Acquisition | 9 Months Ended |
Sep. 30, 2014 | |
Acquisition [Abstract] | ' |
Acquisition | ' |
Note 2 — Acquisition | |
On September 18, 2014, PAR Technology Corporation (the "Company") and its wholly-owned subsidiary, ParTech, Inc. ("ParTech"), entered into and closed a definitive agreement with Brink Software Inc. ("Brink") and all the shareholders of Brink pursuant to which ParTech has purchased the equity interest of Brink in a two-step closing. The guaranteed portion of the purchase price for Brink’s shares will total $10 million in cash, which is payable over a period of three years with $5.0 million paid at closing, $3.0 million payable on the first year anniversary of close, and $2.0 million payable on the second year anniversary of close. In addition to the guaranteed payments, there is a contingent consideration of up $7.0 million payable to Brink based on the achievement of certain conditions as defined in the definitive agreement. | |
The agreement also provides for up to $1.0 million of the purchase price to be delivered into escrow if one or more claims arise within the first twelve months of the transaction. Such escrow will serve as a source of payment for any indemnification obligations that may arise. | |
The Company is currently assessing the methodologies available to calculate the purchase price allocation based on the fair value of assets acquired. In determining the purchase price allocation, the Company will consider, among other factors, market participants’ intentions to use the acquired assets and the historical and estimated future demand for the acquired Brink POS cloud based point of sale application. As of September 30, 2014, the Company recorded preliminary fair value estimates of its purchase price allocation and will adjust the allocations in future periods when the fair value assessments are finalized. As of September 18, 2014, based on initial fair value estimates, the Company recorded an aggregate purchase price of $14.4 million, including a cash payment of $5.0 million, net of cash acquired of $184,000, plus additional estimated cash payments of $9.4 million, which represents the estimated fair value of the remaining consideration. | |
The total aggregate purchase price of $14.4 million was allocated based on preliminary fair value estimates. Negative working capital of $108,000 was acquired, preliminary goodwill recorded from the acquisition was approximately $7.3 million and amortizable intangible assets of $7.2 million. These amounts will be adjusted based on finalization of the fair value assessments. The intangible assets are being amortized either on a straight line basis or an economic consumption basis, which is consistent with the pattern that the economic benefits of the intangible assets are expected to be utilized based on the estimated cash flows generated from such assets. The Company recognized approximately $31,000 of amortization expense related to the amortizable intangible assets at September 30, 2014 based on the aforementioned estimates. | |
The contingent purchase price maximum of $7 million can be earned through fiscal year 2018, based upon the achievement of certain conditions as defined in the definitive agreement. The estimated fair value of this contingent consideration, representing the preliminary fair value estimate, was approximately $4.5 million and is included within our non-current liabilities in PAR’s consolidated balance sheet. The preliminary fair value estimate recorded at September 30th, 2014, may change based on the final valuation of the contingent consideration as the Company finalizes its estimate. | |
In addition, subsequent to finalizing the fair value of the contingent consideration, any changes in the estimate will be recorded as acquisition related, and will be reflected within the Company’s consolidated statement of operations until the consideration period is completed. The fair value of the contingent consideration payable was estimated using a discounted cash flow method, with significant inputs that are not observable in the market and thus represents a Level 3 fair value measurement as defined in the FASB’s Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures. The significant inputs in the Level 3 measurement not supported by market activity included our probability assessments of expected future cash flows related to the Company’s acquisition of Brink during the contingent consideration period, appropriately discounted considering the uncertainties associated with the obligation, and calculated in accordance with the terms of the definitive agreement. | |
The Company has recognized transaction, integration, and other acquisition related costs of approximately $91,000 through September 30, 2014, which have been recorded within sales, general, and administration expense within the Company’s Consolidated Statements of Operations. Additionally, the results of operations of the Brink acquisition is reported in the Company’s consolidated results of operations of the Company from the date of acquisition, which is not deemed material at September 30, 2014. |
Accounts_Receivable
Accounts Receivable | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounts Receivable [Abstract] | ' | ||||||||
Accounts Receivable | ' | ||||||||
Note 3 — Accounts Receivable | |||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Government segment: | |||||||||
Billed | $ | 10,451 | $ | 16,932 | |||||
Advanced billings | (1,480 | ) | (4,335 | ) | |||||
8,971 | 12,597 | ||||||||
Hospitality segment: | |||||||||
Accounts receivable - net | 22,301 | 18,091 | |||||||
$ | 31,272 | $ | 30,688 | ||||||
At September 30, 2014 and December 31, 2013, the Company had recorded allowances for doubtful accounts of $561,000, respectively, against Hospitality accounts receivable. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventories [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
Note 4 — Inventories | |||||||||
Inventories are primarily used in the manufacture and service of Hospitality products. The components of inventory consist of the following: | |||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Finished Goods | $ | 13,237 | $ | 12,033 | |||||
Work in process | 441 | 297 | |||||||
Component parts | 4,175 | 3,558 | |||||||
Service parts | 7,665 | 8,577 | |||||||
$ | 25,518 | $ | 24,465 |
Identifiable_intangible_assets
Identifiable intangible assets | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Identifiable intangible assets [Abstract] | ' | ||||||||
Identifiable intangible assets | ' | ||||||||
Note 5 — Identifiable intangible assets | |||||||||
The Company’s identifiable intangible assets represent intangible assets acquired from the Brink acquisition as well as internally developed software costs. The Company capitalizes certain costs related to the development of computer software sold by its Hospitality segment. Software development costs incurred prior to establishing technological feasibility are charged to operations and included in research and development costs in the period the costs are incurred. Software development costs incurred after establishing technological feasibility (as defined within ASC 985-20) are capitalized and amortized on a product-by-product basis when the product is available for general release to customers. Software costs capitalized during the three months and nine months ended September 30, 2014 were $732,000 and $2,257,000, respectively. Software costs capitalized during the three and nine months ended September 30, 2013 were $1,590,000 and $3,216,000, respectively. | |||||||||
Annual amortization, charged to cost of sales when the product is available for general release to customers, is computed using the greater of (a) the straight-line method over the remaining estimated economic life of the product, generally three to seven years or (b) the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product. Amortization of capitalized software costs for the three and nine months ended September 30, 2014 were $477,000 and $1,411,000, respectively. Amortization for the three and nine months ended September 30, 2013 were $402,000 and $894,000, respectively. | |||||||||
The amortization related to the intangible assets acquired from the Brink acquisition represented $31,000 during the three and nine months ended September 30, 2014. There was no amortization of prior acquisitions recorded for the three and nine months ended September 30, 2013. | |||||||||
The components of identifiable intangible assets are: | |||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Acquired and internally developed software costs | $ | 26,094 | $ | 16,640 | |||||
Trademarks (non-amortizable) | 1,800 | 1,800 | |||||||
27,894 | 18,440 | ||||||||
Less accumulated amortization | (4,810 | ) | (3,369 | ) | |||||
$ | 23,084 | $ | 15,071 | ||||||
The expected future amortization of these intangible assets assuming straight-line amortization of capitalized software costs and acquisition related intangibles is as follows, noting the amounts below are subject to change based on finalization of fair value assessment estimates (in thousands): | |||||||||
2014 | $ | 782 | |||||||
2015 | 3,445 | ||||||||
2016 | 3,414 | ||||||||
2017 | 3,313 | ||||||||
2018 | 3,211 | ||||||||
Thereafter | 7,119 | ||||||||
Total | $ | 21,284 |
Stock_Based_Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2014 | |
Stock Based Compensation [Abstract] | ' |
Stock Based Compensation | ' |
Note 6 — Stock Based Compensation | |
The Company applies the fair value recognition provisions of ASC Topic 718 Stock-Based Compensation. The Company recorded stock based compensation of $185,000 and $987,000 for the three and nine months ended September 30, 2014, respectively. Total stock-based compensation expense included within operating expenses for the three and nine months ended September 30, 2013 was $197,000 and a net benefit of $85,000, respectively. At September 30, 2014, the unrecognized compensation expense related to non-vested equity awards was $1,363,000 (net of estimated forfeitures), which is expected to be recognized as compensation expense in fiscal years 2014 through 2017. | |
During the first nine months of 2014, the Company granted a total of 235,000 equity awards to various employees as recommended by the Company’s Compensation Committee and approved by its Board of Directors, under the 2005 Equity Incentive Plan. Included within the equity grants were approximately 105,000 performance based restricted stock awards which vest upon the achievement of Business Unit and Consolidated financial goals relative to fiscal years 2014 through 2016. These equity awards are forfeited if the performance conditions are not achieved for each fiscal year. For the three and nine month period ended September 30, 2014, the Company recognized compensation expense related to the performance awards based on its estimate of the probability of achievement in accordance with ASC Topic 718. |
Earnings_per_share
Earnings per share | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Earnings per share [Abstract] | ' | ||||||||
Earnings per share | ' | ||||||||
Note 7 — Earnings per share | |||||||||
Earnings per share are calculated in accordance with ASC Topic 260, which specifies the computation, presentation and disclosure requirements for earnings per share (EPS). It requires the presentation of basic and diluted EPS. Basic EPS excludes all dilution and is based upon the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. | |||||||||
For the three and nine months ended September 30, 2014 there was no anti-dilutive stock options outstanding as the Company reported a net loss for both periods. For the three and nine months ended September 30, 2013, there were 418,000 and 530,000, respectively, anti-dilutive stock options outstanding. | |||||||||
The following is a reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations (in thousands, except per share data): | |||||||||
For the three months | For the three months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | ||||||||
Income (loss) from continuing operations | $ | (109 | ) | $ | 445 | ||||
Basic: | |||||||||
Shares outstanding at beginning of period | 15,590 | 15,401 | |||||||
Weighted average shares issued during the period, net | (13 | ) | 4 | ||||||
Weighted average common shares, basic | 15,577 | 15,405 | |||||||
Earnings from continuing operations per common share, basic | $ | (0.01 | ) | $ | 0.03 | ||||
Diluted: | |||||||||
Weighted average common shares, basic | 15,577 | 15,405 | |||||||
Dilutive impact of stock options and restricted stock awards | - | 41 | |||||||
Weighted average common shares, diluted | 15,577 | 15,446 | |||||||
Earnings from continuing operations per common share, diluted | $ | (0.01 | ) | $ | 0.03 | ||||
For the nine months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | ||||||||
Income (loss) from continuing operations | $ | (1,617 | ) | $ | 324 | ||||
Basic: | |||||||||
Shares outstanding at beginning of period | 15,473 | 15,210 | |||||||
Weighted average shares issued during the period, net | 25 | 18 | |||||||
Weighted average common shares, basic | 15,498 | 15,228 | |||||||
Earnings from continuing operations per common share, basic | $ | (0.10 | ) | $ | 0.02 | ||||
Diluted: | |||||||||
Weighted average common shares, basic | 15,498 | 15,228 | |||||||
Dilutive impact of stock options and restricted stock awards | - | 25 | |||||||
Weighted average common shares, diluted | 15,498 | 15,253 | |||||||
Earnings from continuing operations per common share, diluted | $ | (0.10 | ) | $ | 0.02 |
Segment_and_Related_Informatio
Segment and Related Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment and Related Information [Abstract] | ' | ||||||||||||||||
Segment and Related Information | ' | ||||||||||||||||
Note 8 — Segment and Related Information | |||||||||||||||||
The Company’s reportable segments are strategic business units that have separate management teams and infrastructures that offer different products and services. | |||||||||||||||||
The Company has two reportable segments, Hospitality and Government. The Hospitality segment offers integrated solutions to the hospitality industry which include hardware platforms and software applications utilized at restaurants, resorts, hotels and spas and includes the acquisition of Brink. In addition, the Company also provides technology to support food safety compliance and task management capabilities for retailers, grocers and restaurants. The Company’s Hospitality segment offers customer support including field service, installation, twenty-four hour telephone support and depot repair. The Government segment delivers technical expertise in Intelligence, Surveillance & Reconnaissance advanced systems and software solutions to the Federal Government and also provides communications and information technology support services to the United States Department of Defense. Intersegment sales and transfers are not significant. | |||||||||||||||||
Information noted as “Other” primarily relates to the Company’s corporate, home office operations. | |||||||||||||||||
Information as to the Company's segments is set forth below. Amounts below exclude discontinued operations. | |||||||||||||||||
(in thousands) | |||||||||||||||||
For the three | For the three | For the nine | For the nine | ||||||||||||||
months ended | months ended | months ended | months ended | ||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues: | |||||||||||||||||
Hospitality | $ | 36,159 | $ | 37,370 | $ | 106,874 | $ | 114,877 | |||||||||
Government | 20,132 | 18,168 | 63,360 | 66,851 | |||||||||||||
Total | $ | 56,291 | $ | 55,538 | $ | 170,234 | $ | 181,728 | |||||||||
Operating income (loss) from continuing operations: | |||||||||||||||||
Hospitality | $ | (879 | ) | $ | (1,304 | ) | $ | (4,705 | ) | $ | (3,997 | ) | |||||
Government | 1,256 | 1,411 | 3,705 | 4,108 | |||||||||||||
Other | (552 | ) | (98 | ) | (1,302 | ) | (1,018 | ) | |||||||||
(175 | ) | 9 | (2,302 | ) | (907 | ) | |||||||||||
Other income (expense), net | (20 | ) | 152 | 308 | 373 | ||||||||||||
Interest expense | (21 | ) | (16 | ) | (63 | ) | (42 | ) | |||||||||
Income (loss) from continuing operations before provision for income taxes | $ | (216 | ) | $ | 145 | $ | (2,057 | ) | $ | (576 | ) | ||||||
Depreciation and amortization: | |||||||||||||||||
Hospitality | $ | 791 | $ | 673 | $ | 2,285 | $ | 1,729 | |||||||||
Government | 12 | 11 | 37 | 33 | |||||||||||||
Other | 67 | 65 | 209 | 243 | |||||||||||||
Total | $ | 870 | $ | 749 | $ | 2,531 | $ | 2,005 | |||||||||
Capital expenditures: | |||||||||||||||||
Hospitality | $ | 1,031 | $ | 1,847 | $ | 3,269 | $ | 3,877 | |||||||||
Government | 10 | 28 | 36 | 28 | |||||||||||||
Other | 122 | - | 585 | 73 | |||||||||||||
Total | $ | 1,163 | $ | 1,875 | $ | 3,890 | $ | 3,978 | |||||||||
Revenues by geographic area: | |||||||||||||||||
United States | $ | 46,685 | $ | 44,805 | $ | 146,011 | $ | 151,972 | |||||||||
Other Countries | 9,606 | 10,733 | 24,223 | 29,756 | |||||||||||||
Total | $ | 56,291 | $ | 55,538 | $ | 170,234 | $ | 181,728 | |||||||||
The following table represents identifiable assets by business segment: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Identifiable assets: | |||||||||||||||||
Hospitality | $ | 102,911 | $ | 81,386 | |||||||||||||
Government | 10,981 | 16,936 | |||||||||||||||
Other | 23,278 | 19,186 | |||||||||||||||
Total | $ | 137,170 | $ | 117,508 | |||||||||||||
The following table represents identifiable assets by geographic area based on the location of the assets: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
United States | $ | 118,765 | $ | 99,937 | |||||||||||||
Other Countries | 18,405 | 17,571 | |||||||||||||||
Total | $ | 137,170 | $ | 117,508 | |||||||||||||
The following table represents Goodwill by business segment: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Hospitality | $ | 13,421 | $ | 6,116 | |||||||||||||
Government | 736 | 736 | |||||||||||||||
Total | $ | 14,157 | $ | 6,852 | |||||||||||||
Customers comprising 10% or more of the Company's total revenues are summarized as follows: | |||||||||||||||||
For the Three | For the three | For the nine | For the nine | ||||||||||||||
Months Ended | Months Ended | Months Ended | Months Ended | ||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Hospitality segment: | |||||||||||||||||
McDonald’s Corporation | 20 | % | 25 | % | 17 | % | 19 | % | |||||||||
Yum! Brands, Inc. | 10 | % | 11 | % | 13 | % | 14 | % | |||||||||
Government segment: | |||||||||||||||||
U.S. Department of Defense | 36 | % | 33 | % | 37 | % | 37 | % | |||||||||
All Others | 34 | % | 31 | % | 33 | % | 30 | % | |||||||||
100 | % | 100 | % | 100 | % | 100 | % |
Accounts_Receivable_Tables
Accounts Receivable (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounts Receivable [Abstract] | ' | ||||||||
Accounts receivable | ' | ||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Government segment: | |||||||||
Billed | $ | 10,451 | $ | 16,932 | |||||
Advanced billings | (1,480 | ) | (4,335 | ) | |||||
8,971 | 12,597 | ||||||||
Hospitality segment: | |||||||||
Accounts receivable - net | 22,301 | 18,091 | |||||||
$ | 31,272 | $ | 30,688 |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventories [Abstract] | ' | ||||||||
Components of inventory | ' | ||||||||
Inventories are primarily used in the manufacture and service of Hospitality products. The components of inventory consist of the following: | |||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Finished Goods | $ | 13,237 | $ | 12,033 | |||||
Work in process | 441 | 297 | |||||||
Component parts | 4,175 | 3,558 | |||||||
Service parts | 7,665 | 8,577 | |||||||
$ | 25,518 | $ | 24,465 |
Identifiable_intangible_assets1
Identifiable intangible assets (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Identifiable intangible assets [Abstract] | ' | ||||||||
Components of identifiable intangible assets | ' | ||||||||
The components of identifiable intangible assets are: | |||||||||
(in thousands) | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Acquired and internally developed software costs | $ | 26,094 | $ | 16,640 | |||||
Trademarks (non-amortizable) | 1,800 | 1,800 | |||||||
27,894 | 18,440 | ||||||||
Less accumulated amortization | (4,810 | ) | (3,369 | ) | |||||
$ | 23,084 | $ | 15,071 | ||||||
Future amortization of intangible assets | ' | ||||||||
The expected future amortization of these intangible assets assuming straight-line amortization of capitalized software costs and acquisition related intangibles is as follows, noting the amounts below are subject to change based on finalization of fair value assessment estimates (in thousands): | |||||||||
2014 | $ | 782 | |||||||
2015 | 3,445 | ||||||||
2016 | 3,414 | ||||||||
2017 | 3,313 | ||||||||
2018 | 3,211 | ||||||||
Thereafter | 7,119 | ||||||||
Total | $ | 21,284 |
Earnings_per_share_Tables
Earnings per share (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Earnings per share [Abstract] | ' | ||||||||
Reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations | ' | ||||||||
The following is a reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations (in thousands, except per share data): | |||||||||
For the three months | For the three months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | ||||||||
Income (loss) from continuing operations | $ | (109 | ) | $ | 445 | ||||
Basic: | |||||||||
Shares outstanding at beginning of period | 15,590 | 15,401 | |||||||
Weighted average shares issued during the period, net | (13 | ) | 4 | ||||||
Weighted average common shares, basic | 15,577 | 15,405 | |||||||
Earnings from continuing operations per common share, basic | $ | (0.01 | ) | $ | 0.03 | ||||
Diluted: | |||||||||
Weighted average common shares, basic | 15,577 | 15,405 | |||||||
Dilutive impact of stock options and restricted stock awards | - | 41 | |||||||
Weighted average common shares, diluted | 15,577 | 15,446 | |||||||
Earnings from continuing operations per common share, diluted | $ | (0.01 | ) | $ | 0.03 | ||||
For the nine months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | ||||||||
Income (loss) from continuing operations | $ | (1,617 | ) | $ | 324 | ||||
Basic: | |||||||||
Shares outstanding at beginning of period | 15,473 | 15,210 | |||||||
Weighted average shares issued during the period, net | 25 | 18 | |||||||
Weighted average common shares, basic | 15,498 | 15,228 | |||||||
Earnings from continuing operations per common share, basic | $ | (0.10 | ) | $ | 0.02 | ||||
Diluted: | |||||||||
Weighted average common shares, basic | 15,498 | 15,228 | |||||||
Dilutive impact of stock options and restricted stock awards | - | 25 | |||||||
Weighted average common shares, diluted | 15,498 | 15,253 | |||||||
Earnings from continuing operations per common share, diluted | $ | (0.10 | ) | $ | 0.02 |
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment and Related Information [Abstract] | ' | ||||||||||||||||
Information of the Company's segments | ' | ||||||||||||||||
Information as to the Company's segments is set forth below. Amounts below exclude discontinued operations. | |||||||||||||||||
(in thousands) | |||||||||||||||||
For the three | For the three | For the nine | For the nine | ||||||||||||||
months ended | months ended | months ended | months ended | ||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues: | |||||||||||||||||
Hospitality | $ | 36,159 | $ | 37,370 | $ | 106,874 | $ | 114,877 | |||||||||
Government | 20,132 | 18,168 | 63,360 | 66,851 | |||||||||||||
Total | $ | 56,291 | $ | 55,538 | $ | 170,234 | $ | 181,728 | |||||||||
Operating income (loss) from continuing operations: | |||||||||||||||||
Hospitality | $ | (879 | ) | $ | (1,304 | ) | $ | (4,705 | ) | $ | (3,997 | ) | |||||
Government | 1,256 | 1,411 | 3,705 | 4,108 | |||||||||||||
Other | (552 | ) | (98 | ) | (1,302 | ) | (1,018 | ) | |||||||||
(175 | ) | 9 | (2,302 | ) | (907 | ) | |||||||||||
Other income (expense), net | (20 | ) | 152 | 308 | 373 | ||||||||||||
Interest expense | (21 | ) | (16 | ) | (63 | ) | (42 | ) | |||||||||
Income (loss) from continuing operations before provision for income taxes | $ | (216 | ) | $ | 145 | $ | (2,057 | ) | $ | (576 | ) | ||||||
Depreciation and amortization: | |||||||||||||||||
Hospitality | $ | 791 | $ | 673 | $ | 2,285 | $ | 1,729 | |||||||||
Government | 12 | 11 | 37 | 33 | |||||||||||||
Other | 67 | 65 | 209 | 243 | |||||||||||||
Total | $ | 870 | $ | 749 | $ | 2,531 | $ | 2,005 | |||||||||
Capital expenditures: | |||||||||||||||||
Hospitality | $ | 1,031 | $ | 1,847 | $ | 3,269 | $ | 3,877 | |||||||||
Government | 10 | 28 | 36 | 28 | |||||||||||||
Other | 122 | - | 585 | 73 | |||||||||||||
Total | $ | 1,163 | $ | 1,875 | $ | 3,890 | $ | 3,978 | |||||||||
Revenues by geographic area: | |||||||||||||||||
United States | $ | 46,685 | $ | 44,805 | $ | 146,011 | $ | 151,972 | |||||||||
Other Countries | 9,606 | 10,733 | 24,223 | 29,756 | |||||||||||||
Total | $ | 56,291 | $ | 55,538 | $ | 170,234 | $ | 181,728 | |||||||||
Identifiable assets by business segment | ' | ||||||||||||||||
The following table represents identifiable assets by business segment: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Identifiable assets: | |||||||||||||||||
Hospitality | $ | 102,911 | $ | 81,386 | |||||||||||||
Government | 10,981 | 16,936 | |||||||||||||||
Other | 23,278 | 19,186 | |||||||||||||||
Total | $ | 137,170 | $ | 117,508 | |||||||||||||
Identifiable assets by geographic area | ' | ||||||||||||||||
The following table represents identifiable assets by geographic area based on the location of the assets: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
United States | $ | 118,765 | $ | 99,937 | |||||||||||||
Other Countries | 18,405 | 17,571 | |||||||||||||||
Total | $ | 137,170 | $ | 117,508 | |||||||||||||
Goodwill by business segment | ' | ||||||||||||||||
The following table represents Goodwill by business segment: | |||||||||||||||||
(in thousands) | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Hospitality | $ | 13,421 | $ | 6,116 | |||||||||||||
Government | 736 | 736 | |||||||||||||||
Total | $ | 14,157 | $ | 6,852 | |||||||||||||
Revenue percentage by customer/segment | ' | ||||||||||||||||
Customers comprising 10% or more of the Company's total revenues are summarized as follows: | |||||||||||||||||
For the Three | For the three | For the nine | For the nine | ||||||||||||||
Months Ended | Months Ended | Months Ended | Months Ended | ||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Hospitality segment: | |||||||||||||||||
McDonald’s Corporation | 20 | % | 25 | % | 17 | % | 19 | % | |||||||||
Yum! Brands, Inc. | 10 | % | 11 | % | 13 | % | 14 | % | |||||||||
Government segment: | |||||||||||||||||
U.S. Department of Defense | 36 | % | 33 | % | 37 | % | 37 | % | |||||||||
All Others | 34 | % | 31 | % | 33 | % | 30 | % | |||||||||
100 | % | 100 | % | 100 | % | 100 | % |
Acquisition_Details
Acquisition (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Goodwill recorded from acquisition | $14,157,000 | ' | $14,157,000 | ' | $6,852,000 |
Amortization of identifiable intangible assets | 31,000 | 0 | 31,000 | 0 | ' |
Brink Software Inc. [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Payments for the acquisition | ' | ' | 10,000,000 | ' | ' |
Period of purchase price payable | ' | ' | '3 years | ' | ' |
Contingent liability payable, Maximum | 7,000,000 | ' | 7,000,000 | ' | ' |
Percentage of equity interest (in hundredths) | 100.00% | ' | 100.00% | ' | ' |
Fair value of negative equity purchased | 108,000 | ' | 108,000 | ' | ' |
Goodwill recorded from acquisition | 7,300,000 | ' | 7,300,000 | ' | ' |
Amortizable intangible assets | 7,200,000 | ' | 7,200,000 | ' | ' |
Amortization of identifiable intangible assets | ' | ' | 31,000 | ' | ' |
Escrow provision for contingent purchase agreement | ' | ' | 1,000,000 | ' | ' |
Aggregate purchase price | 14,400,000 | ' | 14,400,000 | ' | ' |
Cash acquired on purchase of business | ' | ' | 184,000 | ' | ' |
Net cash paid for purchase of business | ' | ' | 5,000,000 | ' | ' |
Additional estimated cash payments | 9,400,000 | ' | 9,400,000 | ' | ' |
Estimated fair value liability for contingent consideration | 4,500,000 | ' | 4,500,000 | ' | ' |
Transaction, integration, and other acquisition related costs | 91,000 | ' | 91,000 | ' | ' |
Brink Software Inc. [Member] | Tranche One [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Payments for the acquisition | ' | ' | 5,000,000 | ' | ' |
Brink Software Inc. [Member] | Tranche Two [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Payments for the acquisition | ' | ' | 3,000,000 | ' | ' |
Brink Software Inc. [Member] | Tranche Three [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Payments for the acquisition | ' | ' | $2,000,000 | ' | ' |
Accounts_Receivable_Details
Accounts Receivable (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Accounts Receivable [Abstract] | ' | ' |
Accounts receivable - net | $31,272,000 | $30,688,000 |
Allowances for doubtful accounts | 561,000 | 561,000 |
Government segment [Member] | ' | ' |
Accounts Receivable [Abstract] | ' | ' |
Accounts receivable - net | 8,971,000 | 12,597,000 |
Government segment [Member] | Billed [Member] | ' | ' |
Accounts Receivable [Abstract] | ' | ' |
Accounts receivable - net | 10,451,000 | 16,932,000 |
Government segment [Member] | Advance billings [Member] | ' | ' |
Accounts Receivable [Abstract] | ' | ' |
Accounts receivable - net | -1,480,000 | -4,335,000 |
Hospitality segment [Member] | ' | ' |
Accounts Receivable [Abstract] | ' | ' |
Accounts receivable - net | $22,301,000 | $18,091,000 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Component of inventory use in hospitality product [Abstract] | ' | ' |
Finished goods | $13,237 | $12,033 |
Work in process | 441 | 297 |
Component parts | 4,175 | 3,558 |
Service parts | 7,665 | 8,577 |
Inventory net | $25,518 | $24,465 |
Identifiable_intangible_assets2
Identifiable intangible assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Software costs capitalized | $732,000 | $1,590,000 | $2,257,000 | $3,216,000 | ' |
Amortization of capitalized software costs | 477,000 | 402,000 | 1,411,000 | 894,000 | ' |
Amortization of identifiable intangible assets | 31,000 | 0 | 31,000 | 0 | ' |
Components of identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Intangible assets - gross | 27,894,000 | ' | 27,894,000 | ' | 18,440,000 |
Less accumulated amortization | -4,810,000 | ' | -4,810,000 | ' | -3,369,000 |
Intangible assets - net | 23,084,000 | ' | 23,084,000 | ' | 15,071,000 |
Future amortization of intangible assets assuming straight-line amortization of capitalized software costs [Abstract] | ' | ' | ' | ' | ' |
2014 | 782,000 | ' | 782,000 | ' | ' |
2015 | 3,445,000 | ' | 3,445,000 | ' | ' |
2016 | 3,414,000 | ' | 3,414,000 | ' | ' |
2017 | 3,313,000 | ' | 3,313,000 | ' | ' |
2018 | 3,211,000 | ' | 3,211,000 | ' | ' |
Thereafter | 7,119,000 | ' | 7,119,000 | ' | ' |
Total | 21,284,000 | ' | 21,284,000 | ' | ' |
Acquired and internally developed software costs [Member] | ' | ' | ' | ' | ' |
Components of identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Intangible assets - gross | 26,094,000 | ' | 26,094,000 | ' | 16,640,000 |
Trademarks (non-amortizable) [Member] | ' | ' | ' | ' | ' |
Components of identifiable intangible assets [Abstract] | ' | ' | ' | ' | ' |
Intangible assets - gross | $1,800,000 | ' | $1,800,000 | ' | $1,800,000 |
Minimum [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Remaining estimated economic life of the product | ' | ' | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Remaining estimated economic life of the product | ' | ' | '7 years | ' | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense (benefit) | $185,000 | $197,000 | $987,000 | ($85,000) |
Unrecognized compensation expense | $1,363,000 | ' | $1,363,000 | ' |
2005 Equity Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized under plan approved by directors (in shares) | 235,000 | ' | 235,000 | ' |
2005 Equity Incentive Plan [Member] | Performance Based Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized under plan approved by directors (in shares) | 105,000 | ' | 105,000 | ' |
Earnings_per_share_Details
Earnings per share (Details) (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 |
Earnings per share [Abstract] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 418,000 | 0 | 530,000 |
Reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations [Abstract] | ' | ' | ' | ' |
Income (loss) from continuing operations | ($109) | $445 | ($1,617) | $324 |
Basic: [Abstract] | ' | ' | ' | ' |
Shares outstanding at beginning of period (in shares) | 15,590,000 | 15,401,000 | 15,473,000 | 15,210,000 |
Weighted average shares issued during the period, net (in shares) | -13,000 | 4,000 | 25,000 | 18,000 |
Weighted average common shares, basic (in shares) | 15,577,000 | 15,405,000 | 15,498,000 | 15,228,000 |
Earnings from continuing operations per common share, basic (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.02 |
Diluted: [Abstract] | ' | ' | ' | ' |
Weighted average common shares, basic (in shares) | 15,577,000 | 15,405,000 | 15,498,000 | 15,228,000 |
Dilutive impact of stock options and restricted stock awards (in shares) | 0 | 41,000 | 0 | 25,000 |
Weighted average common shares, diluted (in shares) | 15,577,000 | 15,446,000 | 15,498,000 | 15,253,000 |
Earnings from continuing operations per common share, diluted (in dollars per share) | ($0.01) | $0.03 | ($0.10) | $0.02 |
Segment_and_Related_Informatio2
Segment and Related Information (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 |
Segment | ||||
H | ||||
Segment and Related Information [Abstract] | ' | ' | ' | ' |
Number of reportable segments | ' | ' | 2 | ' |
Number of hours of telephone support for hospitality segment (in hours) | ' | ' | 24 | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Revenues | $56,291 | $55,538 | $170,234 | $181,728 |
Operating income (loss) from continuing operations | -175 | 9 | -2,302 | -907 |
Other income (expense), net | -20 | 152 | 308 | 373 |
Interest expense | -21 | -16 | -63 | -42 |
Income (loss) from continuing operations before benefit for income taxes | -216 | 145 | -2,057 | -576 |
Depreciation and amortization | 870 | 749 | 2,531 | 2,005 |
Capital expenditures | 1,163 | 1,875 | 3,890 | 3,978 |
United States [Member] | ' | ' | ' | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Revenues | 46,685 | 44,805 | 146,011 | 151,972 |
Other Countries [Member] | ' | ' | ' | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Revenues | 9,606 | 10,733 | 24,223 | 29,756 |
Hospitality [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Revenues | 36,159 | 37,370 | 106,874 | 114,877 |
Operating income (loss) from continuing operations | -879 | -1,304 | -4,705 | -3,997 |
Depreciation and amortization | 791 | 673 | 2,285 | 1,729 |
Capital expenditures | 1,031 | 1,847 | 3,269 | 3,877 |
Government [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Revenues | 20,132 | 18,168 | 63,360 | 66,851 |
Operating income (loss) from continuing operations | 1,256 | 1,411 | 3,705 | 4,108 |
Depreciation and amortization | 12 | 11 | 37 | 33 |
Capital expenditures | 10 | 28 | 36 | 28 |
Other [Member] | ' | ' | ' | ' |
Information as to the Company's segments [Abstract] | ' | ' | ' | ' |
Operating income (loss) from continuing operations | -552 | -98 | -1,302 | -1,018 |
Depreciation and amortization | 67 | 65 | 209 | 243 |
Capital expenditures | $122 | $0 | $585 | $73 |
Segment_and_Related_Informatio3
Segment and Related Information, Reconciliation of Segment Assets (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | $137,170 | $117,508 |
Goodwill by business segment [Abstract] | ' | ' |
Goodwill | 14,157 | 6,852 |
United States [Member] | ' | ' |
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | 118,765 | 99,937 |
Other Countries [Member] | ' | ' |
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | 18,405 | 17,571 |
Hospitality [Member] | Operating Segments [Member] | ' | ' |
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | 102,911 | 81,386 |
Goodwill by business segment [Abstract] | ' | ' |
Goodwill | 13,421 | 6,116 |
Government [Member] | Operating Segments [Member] | ' | ' |
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | 10,981 | 16,936 |
Goodwill by business segment [Abstract] | ' | ' |
Goodwill | 736 | 736 |
Other [Member] | ' | ' |
Identifiable assets by geographic area [Abstract] | ' | ' |
Identifiable assets | $23,278 | $19,186 |
Segment_and_Related_Informatio4
Segment and Related Information, Revenue By Major Customer (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue generated by customer (in hundredths) | 100.00% | 100.00% | 100.00% | 100.00% |
Hospitality segment [Member] | McDonald's Corporation [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue generated by customer (in hundredths) | 20.00% | 25.00% | 17.00% | 19.00% |
Hospitality segment [Member] | Yum! Brands, Inc. [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue generated by customer (in hundredths) | 10.00% | 11.00% | 13.00% | 14.00% |
Government segment [Member] | U.S. Department of Defense [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue generated by customer (in hundredths) | 36.00% | 33.00% | 37.00% | 37.00% |
All Others [Member] | ' | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of revenue generated by customer (in hundredths) | 34.00% | 31.00% | 33.00% | 30.00% |