Tingo (TIOG) 10-Q 18 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 18, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Entity Registrant Name	MICRONET ENERTEC TECHNOLOGIES, INC.
Entity Central Index Key	854,800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,865,221

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 5,131	$ 8,592
Marketable securities	5,539	6,406
Trade accounts receivable, net	12,581	14,152
Inventories	5,506	6,658
Other accounts receivable	1,512	1,249
Total current assets	30,269	37,057
Property, and equipment, net	1,857	1,948
Intangible assets and others, net	3,666	4,416
Long term deposit	46	46
Goodwill	1,466	1,466
Total long term assets	7,035	7,876
Total assets	37,304	44,933
Current Liabilities:
Short term bank credit and current portion of long term bank loans	$ 10,937	9,416
Current portion of long term notes		1,000
Trade accounts payable	$ 4,147	7,588
Other accounts payable	2,088	2,619
Total current liabilities	17,172	20,623
Long term loans from banks	2,665	3,919
Finance lease	25	56
Accrued severance pay, net	49	29
Deferred tax liabilities, net	19	57
Total long term liabilities	$ 2,758	$ 4,061
Stockholders' Equity:
Preferred stock; $.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock; $.001 par value, 25,000,000 shares authorized, 5,865,221 and 5,856,246 shares issued and outstanding as of September 30, 2015 and December 31, 2014	$ 6	$ 6
Additional paid in capital	7,759	7,505
Accumulated other comprehensive income (loss)	(269)	325
Retained earnings	3,728	6,284
Micronet Enertec stockholders' equity	11,224	14,120
Non-controlling interests	6,150	6,129
Total equity	17,374	20,249
Total liabilities and equity	$ 37,304	$ 44,933

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheet [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	5,865,221	5,856,246
Common stock, shares outstanding	5,865,221	5,856,246

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Income and Other Comprehensive Income [Abstract]
Revenues	$ 5,556	$ 11,415	$ 16,982	$ 23,568
Cost of revenues	4,434	8,546	12,275	16,790
Gross profit	1,122	2,869	4,707	6,778
Operating expenses:
Research and development	485	546	1,951	2,164
Selling and marketing	395	449	1,214	1,209
General and administrative	1,169	1,738	3,407	4,219
Amortization of intangible assets	282	306	889	557
Total operating expenses	2,331	3,039	7,461	8,149
Loss from operations	(1,209)	(170)	(2,754)	(1,371)
Financial expenses, net	(156)	(178)	(417)	(811)
Loss before provision for income taxes	(1,365)	(348)	(3,171)	(2,182)
Provision (benefit) for income taxes	3	46	(164)	9
Net loss	(1,368)	(394)	(3,007)	(2,191)
Net income (loss) attributable to non-controlling interests	(105)	112	(450)	(80)
Net loss attributable to Micronet Enertec Technologies, Inc.	$ (1,263)	$ (506)	$ (2,557)	$ (2,111)
Loss per share attributable to Micronet Enertec Technologies, Inc.
Basic and diluted	$ (0.22)	$ (0.09)	$ (0.44)	$ (0.36)
Weighted average common shares outstanding:
Basic and diluted	5,865,221	5,831,246	5,838,873	5,831,246

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net loss	$ (1,368)	$ (394)	$ (3,007)	$ (2,191)
Other comprehensive loss, net of tax:
Currency translation adjustment	(305)	(739)	(123)	(527)
Total comprehensive loss	(1,673)	(1,133)	(3,130)	(2,718)
Comprehensive income (loss) attributable to the non-controlling interests	(261)	(290)	21	(439)
Comprehensive loss attributable to Micronet Enertec Technologies, Inc.	$ (1,412)	$ (843)	$ (3,151)	$ (2,279)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,368)	$ (394)	$ (3,007)	$ (2,191)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			1,230	1,102
Marketable securities			157	458
Change in fair value of derivatives, net			(8)	296
Change in deferred taxes, net			(367)	(105)
Accrued interests and exchange rate differences on bank loans			$ (125)	(184)
Amortization of discount and change in value of long term convertible debenture, net				61
Stock-based compensation			$ 254	19
Changes in operating assets and liabilities (net of impact of acquisition):
Decrease (increase) in trade account receivables			1,566	(2,146)
Decrease (increase) in inventories			1,152	(1,615)
Increase (decrease) in accrued severance pay, net			20	(106)
Increase in other accounts receivables			(42)	(63)
Increase (decrease) in trade accounts payables			(3,441)	3,295
Decrease in other accounts payables			(554)	(791)
Net cash used in operating activities			(3,165)	(1,970)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment			$ (281)	(153)
Acquisition of business, net of cash acquired (Appendix A)				(7,105)
Marketable securities			$ 710	(106)
Net cash provided by (used in) investing activities			429	(7,364)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short term bank credit			3,833	3,176
Receipt of long term loans from banks			59	4,520
Repayment of long term loans			(1,313)	$ (2,370)
Repayment of short term loans			(2,187)
Repayment of long term notes			$ (1,000)
Acquisition of non-controlling interest				$ (646)
Exercise of call option over non-controlling interest				(925)
Net cash provided by (used in) financing activities			$ (608)	3,755
NET CASH DECREASE IN CASH AND CASH EQUIVALENTS			(3,344)	(5,579)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			8,592	12,825
TRANSLATION ADJUSTMENT OF CASH AND CASH EQUIVALENTS			(117)	(382)
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 5,131	6,864	$ 5,131	6,864
Acquisition of business, net of cash acquired:
Inventory		(1,360)		(1,360)
Property and equipment		(47)		(47)
Intangible assets		(4,232)		(4,232)
Goodwill		(1,466)		(1,466)
Total assets acquired		(7,105)		(7,105)
Liability to seller		209		209
Net cash provided by acquisition		$ (6,896)		$ (6,896)

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2015
DESCRIPTION OF BUSINESS [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Overview A. Micronet Enertec Technologies, Inc., a U.S.-based Delaware corporation, was formed on January 31, 2002. On March 14, 2013, we changed our corporate name from Lapis Technologies, Inc. to Micronet Enertec Technologies, Inc. (“we,” “ Micronet Enertec ” or “the Company” ) . We operate through two Enertec Systems 2001 Ltd (“ Enertec ”), our wholly-owned subsidiary, and Micronet Ltd (“ Micronet ”), in which we held 62.9 as of September 30 , 2015 and is controlled by us. Micronet is a publicly traded company on the Tel Aviv Stock Exchange and operates in the growing commercial Mobile Resource Management (“MRM”) market. Micronet through both its Israeli and U.S. operational offices designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Micronet's vehicle cabin installed and portable tablets increase workforce productivity and enhance corporate efficiency by offering computing power and communication capabilities that provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage. Micronet's customers consist primarily of application service providers and solution providers specializing in the MRM market. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems, simulators, automatic test equipment and electronic instruments. Enertec's solutions and systems are designed according to major aerospace integrators' requirements and are integrated by them into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for use by the Israeli Air Force and Navy and by foreign defense entities. B. Micronet Acquisition of Beijer U.S. Vehicle Operations On June 2, 2014, the Company, through Micronet , completed the acquisition of certain assets and liabilities (the “Transaction”), of Beijer Electronics Inc's. ( the “Seller”) U.S. vehicle business and operations related to the supply of panels to various transportation sectors (the “Vehicle Business”). The total purchase price of the Transaction was $ 7,105 Micronet incorporated a wholly-owned U.S.-based subsidiary in the state of Utah under the name Micronet Inc., through which the purchased business is conducted. The Transaction was financed through, among other funds, a loan granted to Micronet pursuant to a loan agreement (the “Loan Agreement”), entered between Micronet and the First International Bank of Israel (the “Bank” and the “Loan”, respectively). Under the Loan Agreement, the Bank loaned Micronet $ 4,850 2,425 1.5 3.75 2,425 1.2 3.45 and the interest on the The purchase consideration was allocated to tangible assets and intangible assets acquired based on their estimated fair values using a purchase price allocation made by an independent third party appraisal. The fair value assigned to identifiable intangible assets acquired has been determined by using valuation methods that discount expected future cash flows to present value using estimates and assumptions determined by management. The Company determined that the fair values of assets acquired exceeded the purchase price by approximately $ 1,466 Upon the purchase price allocation, an amount of $ 1,680 a 5 2,552 5 Inventories $ 1,360 Property and equipment 47 Identifiable intangible assets: Customer relations 2,552 Core technology 1,680 Goodwill 1,466 Total assets acquired $ 7,105 The contribution of the Vehicle Business results to our consolidated income and net income was $ 6,807 and $ 1,132 , respectively, for the nine months ended September 30, 2015. The unaudited pro forma financial information in the table below summarizes the combined results of our operations and those of the Vehicle Business for the periods shown as though the Transaction occurred as of the beginning of fiscal year 2014. The pro forma financial information for the periods presented includes the business combination accounting effects of the Transaction, including amortization charges from acquired intangible assets. The pro forma financial information presented below is for informational purposes only, is subject to a number of estimates, assumptions and other uncertainties, and is not indicative of the results of operations that would have been achieved if the Transaction had taken place at January 1, 2014. The unaudited pro forma financial information is as follows: Nine Months Ended September 30, 2014 Total revenues $ 27,957 Net loss (1,937 ) Basic losses per share (0.33 ) Diluted losses per share (0.33 )

BASIS OF PRESENTATION AND CONSO

BASIS OF PRESENTATION AND CONSOLIDATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION AND CONSOLIDATION [Abstract]
BASIS OF PRESENTATION AND CONSOLIDATION	NOTE 2 - BASIS OF PRESENTATION AND CONSOLIDATION Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended September 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. The Company's accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2014, and updated, as necessary, in this Quarterly Report on Form 10-Q. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Principles of consolidation The consolidated financial statements comprise the results and position of the Company and its subsidiaries. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its operating activities. In assessing control, legal and contractual rights are taken into account. The consolidated financial statements of subsidiaries are included in the consolidated financial statements from the date that control is achieved until the date that control is ceased. Intercompany transactions and balances are eliminated upon consolidation. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs", requiring debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability in a manner consistent with the treatment for debt discounts. The standard is effective for fiscal years and the interim periods within those fiscal years beginning on or after December 15, 2015. In August 2015, the FASB published ASU 2015-15 (Subtopic 835-30), "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements", which provides additional guidance on the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The effective date is immediate. The Company does not expect material impacts on its consolidated financial statements upon adoption of these ASUs. In September 2015, the FASB issued ASU No. 2015-16 (“ASU 2015-16”), “Simplifying the Accounting for Measurement-Period Adjustments”,

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 – FAIR VALUE MEASUREMENTS The accounting guidance establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 – Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 2 – Observable inputs such as quoted prices for similar instruments and quoted prices in markets that are not active, and inputs that are directly observable or can be corroborated by observable market data. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities. Level 3 – Significant inputs to pricing that have little or no observability as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value of financial instruments. Financial assets and liabilities measured at fair value as of September 30, 2015 and December 31, 2014, are summarized below: Fair value measurements using input type September 30, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 5,131 $ - $ - $ 5,131 Marketable securities 5,539 - - 5,539 Derivative liabilities - (2 ) - (2 ) Derivative liabilities - Phantom option - (26 ) - (26 ) $ 10,670 $ (28 ) $ - $ 10,642 Fair value measurements using input type December 31, 2014 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 8,592 $ - $ - $ 8,592 Marketable securities 6,406 - - 6,406 Derivative assets - 29 - 29 Derivative liabilities - Phantom option - (49 ) - (49 ) $ 14,998 $ (20 ) $ - $ 14,978

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2015
INVENTORIES [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES Inventories are stated at the lower of cost or market, computed using the first-in, first-out method. Inventories consist of the following: September 30, 2015 December 31,2014 Raw materials $ 5,051 $ 6,009 Work in process 455 649 $ 5,506 $ 6,658

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2015
SEGMENTS [Abstract]
SEGMENTS	NOTE 5 – SEGMENTS Operating segments are based upon our internal organization structure, the manner in which our operations are managed and the availability of separate financial information. We have two operating segments: a defense and aerospace segment operated by Enertec and a mobile resource management segment operated by Micronet . The following table summarizes the financial performance of our operating segments: Nine months ended September 30, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 5,673 $ 11,309 $ 16,982 Segment operating loss (714 ) (1) (1,370 ) (2,084 ) Non allocated expenses (670 ) Finance expenses and other (417 ) Consolidated loss before provision for income taxes $ (3,171 ) Nine months ended September 30, 2014 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 8,022 $ 15,546 $ 23,568 Segment operating income (loss) 131 (2) (617 ) (486 ) Non allocated expenses (885 ) Finance expenses (811 ) Consolidated loss before provision for income taxes $ (2,182 ) (1) Includes $ 889 (2) Includes $ 557

BASIS OF PRESENTATION AND CON12

BASIS OF PRESENTATION AND CONSOLIDATION (Policy)	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION AND CONSOLIDATION [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended September 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. The Company's accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2014, and updated, as necessary, in this Quarterly Report on Form 10-Q.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
Principles of consolidation	Principles of consolidation The consolidated financial statements comprise the results and position of the Company and its subsidiaries. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its operating activities. In assessing control, legal and contractual rights are taken into account. The consolidated financial statements of subsidiaries are included in the consolidated financial statements from the date that control is achieved until the date that control is ceased. Intercompany transactions and balances are eliminated upon consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs", requiring debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability in a manner consistent with the treatment for debt discounts. The standard is effective for fiscal years and the interim periods within those fiscal years beginning on or after December 15, 2015. In August 2015, the FASB published ASU 2015-15 (Subtopic 835-30), "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements", which provides additional guidance on the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The effective date is immediate. The Company does not expect material impacts on its consolidated financial statements upon adoption of these ASUs. In September 2015, the FASB issued ASU No. 2015-16 (“ASU 2015-16”), “Simplifying the Accounting for Measurement-Period Adjustments”,

DESCRIPTION OF BUSINESS (Tables

DESCRIPTION OF BUSINESS (Tables)	9 Months Ended
	Sep. 30, 2015
DESCRIPTION OF BUSINESS [Abstract]
Schedule of Assets Acquired	Inventories $ 1,360 Property and equipment 47 Identifiable intangible assets: Customer relations 2,552 Core technology 1,680 Goodwill 1,466 Total assets acquired $ 7,105
Schedule of Pro Forma Results	Nine Months Ended September 30, 2014 Total revenues $ 27,957 Net loss (1,937 ) Basic losses per share (0.33 ) Diluted losses per share (0.33 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Schedule of Financial Assets and Liabilitites Measured at Fair Value	Fair value measurements using input type September 30, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 5,131 $ - $ - $ 5,131 Marketable securities 5,539 - - 5,539 Derivative liabilities - (2 ) - (2 ) Derivative liabilities - Phantom option - (26 ) - (26 ) $ 10,670 $ (28 ) $ - $ 10,642 Fair value measurements using input type December 31, 2014 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 8,592 $ - $ - $ 8,592 Marketable securities 6,406 - - 6,406 Derivative assets - 29 - 29 Derivative liabilities - Phantom option - (49 ) - (49 ) $ 14,998 $ (20 ) $ - $ 14,978

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2015
INVENTORIES [Abstract]
Schedule of Inventories	September 30, 2015 December 31,2014 Raw materials $ 5,051 $ 6,009 Work in process 455 649 $ 5,506 $ 6,658

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
SEGMENTS [Abstract]
Schedule of Operating Segments	Nine months ended September 30, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 5,673 $ 11,309 $ 16,982 Segment operating loss (714 ) (1) (1,370 ) (2,084 ) Non allocated expenses (670 ) Finance expenses and other (417 ) Consolidated loss before provision for income taxes $ (3,171 ) Nine months ended September 30, 2014 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 8,022 $ 15,546 $ 23,568 Segment operating income (loss) 131 (2) (617 ) (486 ) Non allocated expenses (885 ) Finance expenses (811 ) Consolidated loss before provision for income taxes $ (2,182 ) (1) Includes $ 889 (2) Includes $ 557

DESCRIPTION OF BUSINESS (Narrat

DESCRIPTION OF BUSINESS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jun. 02, 2014	Sep. 30, 2015	Sep. 30, 2014
DESCRIPTION OF BUSINESS [Abstract]
Number of subsidiaries		2
General [Line Items]
Receipt of long term loans from banks		$ 59	$ 4,520
Goodwill			1,466
Identifiable intangible assets			4,232
Purchase price			$ 6,896
Contribution to consolidated revenue		$ 6,807
Contribution to net income		$ 1,132
Micronet Limited [Member]
General [Line Items]
Ownership percentage		62.90%
Vehicle Business [Member]
General [Line Items]
Receipt of long term loans from banks	$ 4,850
Goodwill	1,466
Purchase price	7,105
Vehicle Business [Member] | Customer relations [Member]
General [Line Items]
Identifiable intangible assets	$ 2,552
Amortization period	5 years
Vehicle Business [Member] | Core technology [Member]
General [Line Items]
Identifiable intangible assets	$ 1,680
Amortization period	5 years
Vehicle Business [Member] | First Half Of Loan [Member]
General [Line Items]
Receipt of long term loans from banks	$ 2,425
Basis spread	1.50%
Interest rate	3.75%
Vehicle Business [Member] | Second Half Of Loan [Member]
General [Line Items]
Basis spread	1.20%
Interest rate	3.45%
Short-term portion of loan	$ 2,425

DESCRIPTION OF BUSINESS (Schedu

DESCRIPTION OF BUSINESS (Schedule of Assets Acquired) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Jun. 02, 2014
Business Acquisition [Line Items]
Inventories		$ 1,360
Property and equipment		47
Identifiable intangible assets		4,232
Goodwill		1,466
Total assets acquired		$ 6,896
Vehicle Business [Member]
Business Acquisition [Line Items]
Inventories			$ 1,360
Property and equipment			47
Goodwill			1,466
Total assets acquired			7,105
Vehicle Business [Member] | Customer relations [Member]
Business Acquisition [Line Items]
Identifiable intangible assets			2,552
Vehicle Business [Member] | Core technology [Member]
Business Acquisition [Line Items]
Identifiable intangible assets			$ 1,680

DESCRIPTION OF BUSINESS (Sche19

DESCRIPTION OF BUSINESS (Schedule of Pro Forma Results) (Details) - Vehicle Business [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2014USD ($)$ / shares
Business Acquisition [Line Items]
Total revenues | $	$ 27,957
Net loss | $	$ (1,937)
Basic losses per share	$ (0.33)
Diluted losses per share	$ (0.33)

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total [Member]
Financial assets and liabilities measured at fair value
Cash and cash equivalents	$ 5,131	$ 8,592
Marketable securities	5,539	6,406
Derivative assets		29
Derivative liabilities	(2)
Derivative liabilities - Phantom option	(26)	(49)
Financial assets and liabilitied measured at fair value	10,642	14,978
Level 1 [Member]
Financial assets and liabilities measured at fair value
Cash and cash equivalents	5,131	8,592
Marketable securities	$ 5,539	$ 6,406
Derivative assets
Derivative liabilities
Derivative liabilities - Phantom option
Financial assets and liabilitied measured at fair value	$ 10,670	$ 14,998
Level 2 [Member]
Financial assets and liabilities measured at fair value
Cash and cash equivalents
Marketable securities
Derivative assets		$ 29
Derivative liabilities	$ (2)
Derivative liabilities - Phantom option	(26)	(49)
Financial assets and liabilitied measured at fair value	$ (28)	$ (20)
Level 3 [Member]
Financial assets and liabilities measured at fair value
Cash and cash equivalents
Marketable securities
Derivative assets
Derivative liabilities
Derivative liabilities - Phantom option
Financial assets and liabilitied measured at fair value

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
INVENTORIES [Abstract]
Raw materials	$ 5,051	$ 6,009
Work in process	455	649
Inventories	$ 5,506	$ 6,658

SEGMENTS (Details)

SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014
Segment Reporting Information [Line Items]
Segment operating income (loss)	$ (1,209)	$ (170)	$ (2,754)		$ (1,371)
Finance expenses and other	(156)	(178)	(417)		(811)
Amortization of intangible assets	$ 282	$ 306	889		557
Defense and aerospace [Member]
Segment Reporting Information [Line Items]
Revenues from external customers			5,673		8,022
Segment operating income (loss)			(714)		131
Mobile resource management [Member]
Segment Reporting Information [Line Items]
Revenues from external customers			11,309		15,546
Segment operating income (loss)			(1,370)	[1]	(617)	[2]
Amortization of intangible assets			889		557
Consolidated [Member]
Segment Reporting Information [Line Items]
Revenues from external customers			16,982		23,568
Segment operating income (loss)			(2,084)		(486)
Non allocated expenses			(670)		(885)
Finance expenses and other			(417)		(811)
Consolidated loss before provision for income taxes			$ (3,171)		$ (2,182)
[1]	Includes $889 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.
[2]	Includes $557 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.