Tingo (TIOG) 10-Q 16 May 16 2015 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 16, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	MICRONET ENERTEC TECHNOLOGIES, INC.
Entity Central Index Key	854,800
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,878,721

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 964	$ 2,361
Restricted cash	4,667	4,135
Marketable securities	5,770	5,643
Trade account receivables, net	13,316	12,353
Inventories	7,258	7,457
Other accounts receivable	1,653	1,585
Total current assets	33,628	33,534
Property and equipment, net	1,790	1,816
Intangible assets and others, net	3,017	3,297
Long term deposit	29	30
Goodwill	1,466	1,466
Total long term assets	6,302	6,609
Total assets	39,930	40,143
Current Liabilities:
Short term bank credit and current portion of long term bank loans	12,593	11,012
Short term credit from others and current portion of long term loans from others	1,252	1,037
Trade accounts payable	4,407	5,710
Other accounts payable	2,284	2,484
Total current liabilities	20,536	20,243
Long term loans from banks	1,861	1,978
Long term notes	188	375
Finance lease	15	22
Accrued severance pay, net	55	52
Deferred tax liabilities, net	14	17
Total long term liabilities	$ 2,133	$ 2,444
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 shares issued and outstanding as of March 31, 2016 and December 31, 2015	$ 6	$ 6
Additional paid in capital	7,894	7,812
Accumulated other comprehensive income (loss)	86	(196)
Retained earnings	3,478	3,817
Micronet Enertec stockholders' equity	11,464	11,439
Non-controlling interests	5,797	6,017
Total equity	17,261	17,456
Total Liabilities and equity	$ 39,930	$ 40,143

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [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	5,865,221
Common stock, shares outstanding	5,865,221	5,865,221

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 6,482	$ 5,679
Cost of revenues	4,403	3,928
Gross profit	2,079	1,751
Operating expenses:
Research and development	700	743
Selling and marketing	358	469
General and administrative	1,136	1,111
Amortization of intangible assets	228	302
Total operating expenses	2,422	2,625
Loss from operations	(343)	(874)
Financial expenses, net	130	92
Loss before provision for income taxes	(473)	(966)
Provision (benefit) for income taxes	31	(130)
Net loss	(504)	(836)
Net loss attributable to non-controlling interests	(165)	(131)
Net loss attributable to Micronet Enertec Technologies, Inc.	$ (339)	$ (705)
Loss per share attributable to Micronet Enertec Technologies, Inc.
Basic	$ (0.06)	$ (0.12)
Weighted average common shares outstanding:
Basic	5,865,221	5,856,246

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net Loss	$ (504)	$ (836)
Other comprehensive loss, net of tax:
Currency translation adjustment	228	(201)
Total comprehensive Loss	(276)	(1,037)
Comprehensive income (loss) attributable to the non-controlling interests	219	(285)
Comprehensive loss attributable to Micronet Enertec Technologies, Inc.	$ (57)	$ (1,322)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (504)	$ (836)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	337	421
Marketable securities	(105)	196
Change in fair value of derivatives, net	(14)	(5)
Change in deferred taxes, net	(39)	(132)
Accrued interest and exchange rate differences on bank loans	482	$ (25)
Accrued interest and exchange rate differences on loans from others	24
Stock-based compensation	82	$ 69
Decrease (increase) in trade account receivables	(882)	1,170
Decrease in inventories	240	158
Increase (decrease) in accrued severance pay, net	3	(4)
Decrease in other accounts receivables	27	137
Decrease in trade accounts payables	(1,303)	(2,443)
Decrease in other accounts payables	(194)	(438)
Net cash used in operating activities	(1,846)	(1,732)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(32)	(100)
Restricted cash	(532)	691
Marketable securities	(22)	(14)
Net cash provided by (used in) investing activities	(586)	577
CASH FLOWS FROM FINANCING ACTIVITIES:
Short term bank credit	1,419	$ 807
Short term credit from others, net	4
Repayment of short term loans	(256)
Repayment of long term bank loans	$ (181)	$ (288)
Repayment of long term notes		(1,000)
Net cash provided by (used in) financing activities	$ 986	(481)
NET CASH DECREASE IN CASH AND CASH EQUIVALENTS	(1,446)	(1,636)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	2,361	4,211
TRANSLATION ADJUSTMENT ON CASH AND CASH EQUIVALENTS	49	(214)
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 964	$ 2,361

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2016
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 Israel-based companies, Enertec Systems 2001 Ltd (“Enertec”), our wholly-owned subsidiary, and Micronet Ltd (“Micronet”), in which we held 62.9% as of March 31, 2016 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. The Vehicle Business results of operations were included in our consolidated reports commencing on the closing date. Upon the closing of the Transaction, 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 for the financing of the Transaction. 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, which is recognized as goodwill. Upon the purchase price allocation, an amount of $1,680 was allocated to technology to be amortized over a 5-year period, and an amount of $2,552 was allocated to estimated fair value of the customer relations intangible asset to be amortized over a 5-year period. The table below summarizes the estimates of the fair value of assets acquired at the purchase date. 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

BASIS OF PRESENTATION AND CONSO

BASIS OF PRESENTATION AND CONSOLIDATION	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended March 31, 2016 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, 2015. 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, 2015, and updated, as necessary, in this Quarterly Report on Form 10-Q. All the amounts included in the notes are denominated in thousand US Dollars. 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 March 2016, the FASB issued ASU No. 2016-09, which revises the guidance in ASC 718, "Compensation- Stock Compensation", and will change how companies account for certain aspects of share-based payments to employees, including the income tax impact , classification on statement of cash flows and forfeitures. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017, for public companies. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
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. Items carried at fair value as of March 31, 2016 and December 31, 2015, are summarized below: Fair value measurements using input type March 31, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 964 $ - $ - $ 964 Restricted cash 4,667 - - 4,667 Marketable securities 5,770 - - 5,770 Derivative assets - 82 - 82 Derivative liabilities - Phantom option - (27 ) - (27 ) $ 11,401 $ 55 $ - $ 11,456 Fair value measurements using input type December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2,361 $ - $ - $ 2,361 Restricted cash 4,135 - - 4,135 Marketable securities 5,643 - - 5,643 Derivative liabilities - Phantom option (41 ) - (41 ) $ 12,139 $ (41 ) $ - $ 12,098

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
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: March 31, 2016 December 31, 2015 Raw materials $ 6,515 $ 6,303 Work in process 743 1,154 $ 7,258 $ 7,457

SEGMENTS

SEGMENTS	3 Months Ended
	Mar. 31, 2016
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: Three months ended March 31, 2016 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 2,531 $ 3,951 $ 6,482 Segment operating income (loss) 159 (1)(290 ) (131 ) Non allocated expenses (212 ) Finance expenses and other (130 ) Consolidated loss before provision for income taxes $ (473 ) Three months ended March 31, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 2,033 $ 3,646 $ 5,679 Segment operating loss (89 ) (2)(555 ) (644 ) Non allocated expenses (230 ) Finance expenses (92 ) Consolidated loss before provision for income taxes $ (966 ) (1) Includes $228 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions. (2) Includes $302 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 6 –SUBSEQUENT EVENTS On May 3, 2016, Seller filed a complaint in the Superior District Court of the State of Delaware naming the Company as the defendant. The complaint alleges, among other things, that the Company breached the terms of the Asset Purchase Agreement and seeks, among other things, the payment of the termination fee equal to $250,000, plus interest as well as all costs and expenses associated with the commencement of the lawsuit. The Company rejects the claim and intends to vigorously defend against the claims in the litigation.

BASIS OF PRESENTATION AND CON13

BASIS OF PRESENTATION AND CONSOLIDATION (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [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 March 31, 2016 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended March 31, 2016 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, 2015. 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, 2015, and updated, as necessary, in this Quarterly Report on Form 10-Q. All the amounts included in the notes are denominated in thousand US Dollars.
Use of Estimate	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 March 2016, the FASB issued ASU No. 2016-09, which revises the guidance in ASC 718, "Compensation- Stock Compensation", and will change how companies account for certain aspects of share-based payments to employees, including the income tax impact , classification on statement of cash flows and forfeitures. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017, for public companies. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its consolidated financial statements.

DESCRIPTION OF BUSINESS (Tables

DESCRIPTION OF BUSINESS (Tables)	3 Months Ended
	Mar. 31, 2016
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

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
FAIR VALUE MEASUREMENTS [Abstract]
Schedule of Fair Value Measurements	Fair value measurements using input type March 31, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 964 $ - $ - $ 964 Restricted cash 4,667 - - 4,667 Marketable securities 5,770 - - 5,770 Derivative assets - 82 - 82 Derivative liabilities - Phantom option - (27 ) - (27 ) $ 11,401 $ 55 $ - $ 11,456 Fair value measurements using input type December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2,361 $ - $ - $ 2,361 Restricted cash 4,135 - - 4,135 Marketable securities 5,643 - - 5,643 Derivative liabilities - Phantom option (41 ) - (41 ) $ 12,139 $ (41 ) $ - $ 12,098

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2016
INVENTORIES [Abstract]
Schedule of Inventories	March 31, 2016 December 31, 2015 Raw materials $ 6,515 $ 6,303 Work in process 743 1,154 $ 7,258 $ 7,457

SEGMENTS (Tables)

SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
SEGMENTS [Abstract]
Schedule of Operating Segments	Three months ended March 31, 2016 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 2,531 $ 3,951 $ 6,482 Segment operating income (loss) 159 (1)(290 ) (131 ) Non allocated expenses (212 ) Finance expenses and other (130 ) Consolidated loss before provision for income taxes $ (473 ) Three months ended March 31, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 2,033 $ 3,646 $ 5,679 Segment operating loss (89 ) (2)(555 ) (644 ) Non allocated expenses (230 ) Finance expenses (92 ) Consolidated loss before provision for income taxes $ (966 ) (1) Includes $228 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions. (2) Includes $302 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.

DESCRIPTION OF BUSINESS (Narrat

DESCRIPTION OF BUSINESS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended
	Jun. 02, 2014	Mar. 31, 2016
Micronet Limited [Member]
Business Acquisition [Line Items]
Ownership percentage		62.90%
Vehicle Business [Member]
Business Acquisition [Line Items]
Receipt of long term loans from banks	$ 4,850
Goodwill	1,466
Purchase price	7,105
Vehicle Business [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Identifiable intangible assets	$ 1,680
Amortization period	5 years
Vehicle Business [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Identifiable intangible assets	$ 2,552
Amortization period	5 years

DESCRIPTION OF BUSINESS (Schedu

DESCRIPTION OF BUSINESS (Schedule of Assets Acquired) (Details) - Vehicle Business [Member] $ in Thousands	Jun. 02, 2014USD ($)
Business Acquisition [Line Items]
Inventories	$ 1,360
Property and equipment	47
Goodwill	1,466
Total assets acquired	7,105
Customer Relationships [Member]
Business Acquisition [Line Items]
Identifiable intangible assets	2,552
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Identifiable intangible assets	$ 1,680

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 964	$ 2,361
Restricted cash	4,667	4,135
Marketable securities	5,770	5,643
Derivative asset	82
Derivative liability - phantom option	(27)	(41)
Financial assets and liabilities measured at fair value	11,456	12,098
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	964	2,361
Restricted cash	4,667	4,135
Marketable securities	$ 5,770	$ 5,643
Derivative asset
Derivative liability - phantom option
Financial assets and liabilities measured at fair value	$ 11,401	$ 12,139
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Restricted cash
Marketable securities
Derivative asset	$ 82
Derivative liability - phantom option	(27)	$ (41)
Financial assets and liabilities measured at fair value	$ 55	$ (41)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Restricted cash
Marketable securities
Derivative asset
Derivative liability - phantom option
Financial assets and liabilities measured at fair value

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
INVENTORIES [Abstract]
Raw materials	$ 6,515	$ 6,303
Work in process and finished product	743	1,154
Inventories	$ 7,258	$ 7,457

SEGMENT REPORTING (Schedule of

SEGMENT REPORTING (Schedule of Segment Reporting) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Segment Reporting Information [Line Items]
Segment operating income (loss)	$ (343)		$ (874)
Consolidated loss before provision for income taxes	(473)		(966)
Amortization of intangible assets	228		302
Defense And Aerospace [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	2,531		2,033
Segment operating income (loss)	159		(89)
Mobile Resource Management [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	3,951		3,646
Segment operating income (loss)	(290)	[1]	(555)	[2]
Amortization of intangible assets	228		302
Consolidated [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	6,482		5,679
Segment operating income (loss)	(131)		(644)
Non allocated expenses	(212)		(230)
Finance expenses, net	(130)		(92)
Consolidated loss before provision for income taxes	$ (473)		$ (966)
[1]	Includes $228 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.
[2]	Includes $302 of intangible assets amortization, derived from Micronet and Micronet Inc. acquisitions.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	May. 03, 2016USD ($)
Subsequent Event [Member]
Termination fee	$ 250,000