Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 12-May-15 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | DIGITAL POWER CORP | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -19 | |
Entity Common Stock, Shares Outstanding | 6,775,971 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 896493 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 |
Consolidated_Balance_Sheets_Cu
Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | $2,060 | $2,110 |
Trade receivables | 1,025 | 1,548 |
Related parties – trade receivables | 26 | |
Prepaid expenses and other accounts receivable | 238 | 178 |
Inventories (Note 3) | 1,867 | 1,653 |
Total current assets | 5,216 | 5,489 |
PROPERTY AND EQUIPMENT, NET | 622 | 567 |
INTANGIBLE ASSET, NET | 40 | 66 |
INVESTMENT IN TELKOOR | 157 | 207 |
LONG-TERM DEPOSITS | 13 | 13 |
Total assets | 6,048 | 6,342 |
CURRENT LIABILITIES: | ||
Accounts payable | 928 | 1,061 |
Trade payables - related parties | 60 | |
Advances from customers and deferred revenue | 585 | 435 |
Other current liabilities | 362 | 345 |
Total current liabilities | 1,875 | 1,901 |
Share capital - | ||
Series A Redeemable Convertible Preferred shares, no par value - 500,000 shares authorized; 0 shares issued and outstanding at March 31, 2015 and December 31, 2014 | 0 | 0 |
Preferred shares, no par value - 1,500,000 shares authorized; 0 shares issued and outstanding at March 31, 2015 and December 31, 2014 | 0 | 0 |
Common shares, no par value - 30,000,000 shares authorized; 6,775,971 shares issued and outstanding as of March 31, 2015 and December 31, 2014 | 0 | 0 |
Additional paid-in capital | 14,786 | 14,739 |
Accumulated deficit | -10,144 | -9,940 |
Accumulated other comprehensive loss | -469 | -358 |
Total shareholders' equity | 4,173 | 4,441 |
Total liabilities and shareholders' equity | $6,048 | $6,342 |
Consolidated_Balance_Sheets_Cu1
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Series A Redeemable, par value (in Dollars per share) | $0 | $0 |
Series A Redeemable, shares authorized | 500,000 | 500,000 |
Series A Redeemable, shares outstanding. | 0 | 0 |
Sеriеs Α Rеdееmablе, sharеs issued (in Dollars per share) | $0 | $0 |
Preferred shares, par value (in Dollars per share) | $0 | $0 |
Preferred shares, shares authorized | 1,500,000 | 1,500,000 |
Preferred shares, shares outstanding | 0 | 0 |
Prеfеrrеd sharеs, sharеs issuеd | 0 | 0 |
Common shares, par value (in Dollars per share) | $0 | $0 |
Common shares, shares authorized | 30,000,000 | 30,000,000 |
Common shares, shares issued | 6,775,971 | 6,775,971 |
Common shares, shares outstanding | 6,775,971 | 6,775,971 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues | $1,896 | $2,037 |
Cost of revenues | 1,183 | 1,275 |
Gross profit | 713 | 762 |
Operating expenses: | ||
Engineering and product development | 234 | 183 |
Selling and marketing | 260 | 312 |
General and administrative | 438 | 422 |
Total operating expenses | 932 | 917 |
Operating loss | -219 | -155 |
Impairment of investment | -50 | |
Financial income (expenses) , net | 65 | -3 |
Loss before income taxes | -204 | -158 |
Income taxes | 0 | 0 |
Net loss | ($204) | ($158) |
Basic and diluted net loss per share (in Dollars per share) | ($0.03) | ($0.02) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net loss | ($204) | ($158) |
Other comprehensive loss: | ||
Change in net foreign currency translation adjustment | -111 | 17 |
Other comprehensive income (loss) | -111 | 17 |
Total comprehensive loss: | ($315) | ($141) |
Statements_of_Changes_in_Share
Statements of Changes in Shareholders' Equity (Current Balance Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning at Dec. 31, 2013 | $14,582 | ($9,282) | ($253) | $5,047 | |
Beginning (in Shares) at Dec. 31, 2013 | 6,853,161 | ||||
Stock compensation related to options granted to non-employees | 1 | 1 | |||
Stock based compensation related to options granted to employees | 22 | 22 | |||
Purchase of treasury stock | -40 | -40 | |||
Purchase of treasury stock (in Shares) | -54,061 | ||||
Comprehensive loss: | |||||
Net loss | -158 | -158 | |||
Foreign currency translation adjustments | 17 | 17 | |||
Ending at Mar. 31, 2014 | 14,565 | -9,440 | -236 | 4,889 | |
Ending (in Shares) at Mar. 31, 2014 | 6,799,100 | ||||
Beginning at Dec. 31, 2014 | 14,739 | -9,940 | -358 | 4,441 | |
Beginning (in Shares) at Dec. 31, 2014 | 6,775,971 | ||||
Stock based compensation related to options granted to employees | 47 | 47 | |||
Comprehensive loss: | |||||
Net loss | -204 | -204 | |||
Foreign currency translation adjustments | -111 | -111 | |||
Ending at Mar. 31, 2015 | $14,786 | ($10,144) | ($469) | $4,173 | |
Ending (in Shares) at Mar. 31, 2015 | 6,775,971 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net loss | ($204) | ($158) |
Adjustments required to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 34 | 35 |
Amortization of intangible asset | 24 | 26 |
Impairment of investment in Telkoor | 50 | |
Stock compensation related to options granted to employees | 47 | 22 |
Stock compensation related to options granted to non-employees | 1 | |
Decrease in trade receivables, net | 503 | 669 |
Increase in prepaid expenses and other accounts receivable | -64 | -37 |
Decrease (increase) in inventories | -261 | 63 |
Decrease in accounts payable and related parties- trade payables | -209 | -452 |
Increase (decrease) in deferred revenues and other current liabilities | 197 | -136 |
Net cash provided by operating activities | 117 | 33 |
Purchase of property and equipment | -99 | -38 |
Proceeds from sales of property and equipment | 16 | |
Net cash used in investing activities | -99 | -22 |
Purchase of treasury stock | -40 | |
Net cash used in financing activities | -40 | |
Effect of exchange rate changes on cash and cash equivalents | -68 | -2 |
Decrease in cash and cash equivalents | -50 | -31 |
Cash and cash equivalents at the beginning of the period | 2,110 | 1,696 |
Cash and cash equivalents at the end of the period | $2,060 | $1,665 |
Note_1_General
Note 1 - General | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Business Description and Basis of Presentation [Text Block] | NOTE 1:- GENERAL |
a. Digital Power Corporation (the "Company" or "DPC") was incorporated in 1969, under the General Corporation Law of the State of California. The Company and Digital Power Limited ("DPL"), a wholly owned subsidiary located in the United Kingdom, are currently engaged in the design, manufacture and sale of switching power supplies and converters. The Company has two reportable geographic segments - North America (sales through DPC) and Europe (sales through DPL). | |
b. The Company depends on Telkoor Telecom Ltd. ("Telkoor"), a major shareholder of the Company and one of DPC's third party subcontractors, for manufacturing capabilities in production of the products which DPC sells. If these manufacturers are unable or unwilling to continue manufacturing the Company's products in required volumes on a timely basis, that could lead to loss of sales, and adversely affect the Company's operating results and cash position. The Company also depends on Telkoor's intellectual property and ability to transfer production to third party manufacturers. Failure to obtain new products in a timely manner or delay in delivery of product to customers will have an adverse effect on the Company's ability to meet its customers' expectations. In 2010, the Company purchased a specific intellectual property (IP) from Telkoor in order to reduce its dependency on Telkoor with respect to a certain line of products. |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 2:- BASIS OF PRESENTATION |
The accompanying unaudited interim consolidated financial statements and footnotes have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commissions (the “SEC”) regarding unaudited interim financial information. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s consolidated balance sheets, statements of operations, comprehensive loss and cash flows for the interim periods presented. Operating results for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full year or the results for any future periods due to seasonal and other factors. Certain information and footnote disclosures normally included in the consolidated financial statements in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC. Accordingly, these unaudited interim consolidated financial statements and footnotes should be read in conjunction with the consolidated financial statements and accompanying notes thereto included in the Company’s Form 10-K for the year ended December 31, 2014 filed with the SEC on March 27, 2015. |
Note_3_Inventories
Note 3 - Inventories | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventory Disclosure [Text Block] | NOTE 3:- INVENTORIES | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Unaudited | |||||||||
Raw materials, parts and supplies | $ | 414 | $ | 287 | |||||
Work in progress | 336 | 357 | |||||||
Finished products | 1,117 | 1,009 | |||||||
$ | 1,867 | $ | 1,653 | ||||||
Note_4_Accounting_for_Stockbas
Note 4 - Accounting for Stock-based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 4:- ACCOUNTING FOR STOCK-BASED COMPENSATION | ||||||||||||||||
a. Share option plans: | |||||||||||||||||
1. Under the Company's Digital Power 2012 (as amended) (“Incentive Share Option Plan”), options may be granted to employees, officers, consultants, service providers and directors of the Company or its subsidiary. | |||||||||||||||||
2. As of March 31, 2015, the Company had authorized according to the Incentive Share Option Plan, the grant of options to officers, management, other key employees and others of up to 1,372,360 options for the Company's common shares. The maximum term of the options is ten years from date of grant. As of March 31, 2015, an aggregate of 690,130 of the Company's options were still available for future grant. | |||||||||||||||||
3. The options granted generally become fully exercisable after four years and expire no later than 10 years from the date of the option grant. Any options that are forfeited or cancelled before expiration become available for future grants. | |||||||||||||||||
A summary of the Company's employee share option activity (except options to consultants and service providers) and related information is as follows: | |||||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||||
Amount | Weighted | Weighted average remaining contractual term (years) | Aggregate | ||||||||||||||
of options | average | intrinsic | |||||||||||||||
exercise | value *) | ||||||||||||||||
price | |||||||||||||||||
Outstanding at the beginning of the period | 1,262,763 | $ | 1.57 | 7.65 | $ | 40.57 | |||||||||||
Outstanding at the end of the period | 1,227,763 | $ | 1.57 | 7.56 | $ | 8.09 | |||||||||||
Exercisable options at the end of the period | 482,763 | $ | 1.47 | 5.22 | $ | 6.09 | |||||||||||
*) Calculation of aggregate intrinsic value is based on the share price of the Company's common stock as of March 31, 2015 ($ 0.88 per share). | |||||||||||||||||
Under the provisions of ASC 718 “Compensation – Stock Compensation (“ASC 718”) the fair value of each option is estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions such as stock price on the date of the grant, exercise price, risk-free interest rate, expected volatility, expected life and expected dividend yield of the option. Expected volatility is based exclusively on historical volatility of the entity's stock as allowed by ASC 718. The Company uses historical information with respect to the employee options exercised to estimate the expected term of options granted, representing the period of time that options granted are expected to be outstanding. The risk-free interest rate of the period within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. | |||||||||||||||||
No options were granted during the first three months of 2015. | |||||||||||||||||
As of March 31, 2015, there was $680 of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the share option plans. That cost is expected to be recognized over a period of the next 3.16 years. |
Note_5_Loss_Per_Share
Note 5 - Loss Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share [Text Block] | NOTE 5:- LOSS PER SHARE | ||||||||
The following table sets forth the computation of the basic and diluted net loss per share: | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
Numerator: | 2015 | 2014 | |||||||
Unaudited | |||||||||
Loss available to Common shareholders | $ | (204 | ) | $ | (158 | ) | |||
2 | |||||||||
Denominator: | 6,775,971 | 6,841,201 | |||||||
Total weighted average number of shares used in | |||||||||
Computing basic and diluted loss per share | |||||||||
Basic and diluted loss per share | $ | (0.03 | ) | $ | (0.02 | ) | |||
Note_6_Investment_in_Telkoor
Note 6 - Investment in Telkoor | 3 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE 6:- INVESTMENT IN TELKOOR |
On June 16, 2011 the Company has acquired 1,136,666 shares of Telkoor, a major shareholder of the Company and an Israeli company listed in the Tel Aviv stock exchange, which represented 8.8% of the outstanding shares of Telkoor. As a result of this transaction, an existing manufacturing agreement between Digital Power and Telkoor was updated and extended. | |
The Company has classified its investment in Telkoor's shares as available-for-sale securities in accordance with ASC 320, "Investment in Debt and Equity Securities". Marketable securities classified as "available for sale securities" are carried at fair value, based on quoted market prices. Unrealized gains and losses are reported in a separate component of shareholders' equity in "accumulated other comprehensive loss". When evaluating the investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not that it will be required to sell, the investment before recovery of the investment's amortized cost basis. | |
Equity securities that do not have readily determinable fair values (i.e. non-marketable equity securities) and are not required to be accounted for under the equity method are typically carried at cost(i.e., cost method investments), as described in ASC 325-20. | |
The Company recorded an impairment of its investment in Telkoor of $50 for the three months ended March 31, 2015 compared to $175 for the year ended December 31, 2014. In the year ended December 31, 2014, an independent appraiser evaluated the holding value of this investment based upon guidelines outlined in ASC 320 and concluded the fair value of the asset had declined by $175 from its value reported in the financial statements for the year ended December 31, 2013. For the three months ended March 31, 2015, the Company further reduced the fair value of its investment based upon a decline in the value of Telkoor’s investment in the Company’s shares from December 31, 2014 to March 31, 2015. In accordance with ASC 325, Telkoor’s equity shares held by the Company are presented at cost and will be reviewed for impairment in accordance with ASC 320. |
Note_7_Segments_Major_Customer
Note 7 - Segments, Major Customers and Geographic Information | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Segment Reporting Disclosure [Text Block] | NOTE 7:- SEGMENTS, MAJOR CUSTOMERS AND GEOGRAPHIC INFORMATION | ||||||||||||||||
The Company has two reportable geographic segments (see Note 1 for a brief description of the Company's business). | |||||||||||||||||
The following data presents the revenues, expenditures and other operating data of the Company's geographic operating segments in accordance with ASC 218 "Segment Reporting" ("ASC 218"). | |||||||||||||||||
Three months ended March 31, 2015 (unaudited) | |||||||||||||||||
DPC | DPL | Eliminations | Total | ||||||||||||||
Revenues | $ | 924 | $ | 972 | $ | - | $ | 1,896 | |||||||||
Intersegment revenues | 111 | - | (111 | ) | - | ||||||||||||
Total revenues | $ | 1,035 | $ | 972 | $ | (111 | ) | $ | 1,896 | ||||||||
Depreciation and amortization expense | $ | 18 | $ | 40 | $ | - | $ | 58 | |||||||||
Operating income (loss) | $ | (265 | ) | $ | 46 | $ | - | $ | (219 | ) | |||||||
Impairment of investment | (50 | ) | |||||||||||||||
Other income, net | 65 | ||||||||||||||||
Tax expense | - | ||||||||||||||||
Net income (loss) | $ | (265 | ) | $ | 61 | $ | - | $ | (204 | ) | |||||||
Expenditures for segment assets, as of March 31, 2015 | $ | 46 | $ | 53 | $ | - | $ | 99 | |||||||||
Total assets as of March 31, 2015 | $ | 2,799 | $ | 3,249 | $ | - | $ | 6,048 | |||||||||
Three months ended March 31, 2014 (unaudited) | |||||||||||||||||
DPC | DPL | Eliminations | Total | ||||||||||||||
Revenues | $ | 1, 166 | $ | 871 | $ | - | $ | 2,037 | |||||||||
Intersegment revenues | 7 | - | (7 | ) | - | ||||||||||||
Total revenues | $ | 1,173 | $ | 871 | $ | (7 | ) | $ | 2,037 | ||||||||
Depreciation and amortization expense | $ | 16 | $ | 45 | $ | - | $ | 61 | |||||||||
Operating loss | $ | (148 | ) | $ | (7 | ) | $ | - | $ | (155 | ) | ||||||
Other expense, net | (3 | ) | |||||||||||||||
Tax expense | - | ||||||||||||||||
Net loss | $ | (148 | ) | $ | (10 | ) | $ | - | $ | (158 | ) | ||||||
Expenditures for segment assets, as of March 31, 2014 | $ | 38 | $ | (16 | ) | $ | - | $ | 22 | ||||||||
Total assets as of March 31, 2014 | $ | 3,416 | $ | 2,820 | $ | - | $ | 6,236 | |||||||||
Major customer data as a percentage of total revenues: | |||||||||||||||||
The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. | |||||||||||||||||
Three months ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
C&A Korea | 18 | % | (*) | ||||||||||||||
(*) Less than 10% |
Note_3_Inventories_Tables
Note 3 - Inventories (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Schedule of Inventory, Current [Table Text Block] | March 31, | December 31, | |||||||
2015 | 2014 | ||||||||
Unaudited | |||||||||
Raw materials, parts and supplies | $ | 414 | $ | 287 | |||||
Work in progress | 336 | 357 | |||||||
Finished products | 1,117 | 1,009 | |||||||
$ | 1,867 | $ | 1,653 |
Note_4_Accounting_for_Stockbas1
Note 4 - Accounting for Stock-based Compensation (Tables) (Option Plans [Member]) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Option Plans [Member] | |||||||||||||||||
Note 4 - Accounting for Stock-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Three months ended March 31, 2015 | ||||||||||||||||
Amount | Weighted | Weighted average remaining contractual term (years) | Aggregate | ||||||||||||||
of options | average | intrinsic | |||||||||||||||
exercise | value *) | ||||||||||||||||
price | |||||||||||||||||
Outstanding at the beginning of the period | 1,262,763 | $ | 1.57 | 7.65 | $ | 40.57 | |||||||||||
Outstanding at the end of the period | 1,227,763 | $ | 1.57 | 7.56 | $ | 8.09 | |||||||||||
Exercisable options at the end of the period | 482,763 | $ | 1.47 | 5.22 | $ | 6.09 |
Note_5_Loss_Per_Share_Tables
Note 5 - Loss Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended | ||||||||
March 31, | |||||||||
Numerator: | 2015 | 2014 | |||||||
Unaudited | |||||||||
Loss available to Common shareholders | $ | (204 | ) | $ | (158 | ) | |||
Denominator: | 6,775,971 | 6,841,201 | |||||||
Total weighted average number of shares used in | |||||||||
Computing basic and diluted loss per share | |||||||||
Basic and diluted loss per share | $ | (0.03 | ) | $ | (0.02 | ) |
Note_7_Segments_Major_Customer1
Note 7 - Segments, Major Customers and Geographic Information (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended March 31, 2015 (unaudited) | ||||||||||||||||
DPC | DPL | Eliminations | Total | ||||||||||||||
Revenues | $ | 924 | $ | 972 | $ | - | $ | 1,896 | |||||||||
Intersegment revenues | 111 | - | (111 | ) | - | ||||||||||||
Total revenues | $ | 1,035 | $ | 972 | $ | (111 | ) | $ | 1,896 | ||||||||
Depreciation and amortization expense | $ | 18 | $ | 40 | $ | - | $ | 58 | |||||||||
Operating income (loss) | $ | (265 | ) | $ | 46 | $ | - | $ | (219 | ) | |||||||
Impairment of investment | (50 | ) | |||||||||||||||
Other income, net | 65 | ||||||||||||||||
Tax expense | - | ||||||||||||||||
Net income (loss) | $ | (265 | ) | $ | 61 | $ | - | $ | (204 | ) | |||||||
Expenditures for segment assets, as of March 31, 2015 | $ | 46 | $ | 53 | $ | - | $ | 99 | |||||||||
Total assets as of March 31, 2015 | $ | 2,799 | $ | 3,249 | $ | - | $ | 6,048 | |||||||||
Three months ended March 31, 2014 (unaudited) | |||||||||||||||||
DPC | DPL | Eliminations | Total | ||||||||||||||
Revenues | $ | 1, 166 | $ | 871 | $ | - | $ | 2,037 | |||||||||
Intersegment revenues | 7 | - | (7 | ) | - | ||||||||||||
Total revenues | $ | 1,173 | $ | 871 | $ | (7 | ) | $ | 2,037 | ||||||||
Depreciation and amortization expense | $ | 16 | $ | 45 | $ | - | $ | 61 | |||||||||
Operating loss | $ | (148 | ) | $ | (7 | ) | $ | - | $ | (155 | ) | ||||||
Other expense, net | (3 | ) | |||||||||||||||
Tax expense | - | ||||||||||||||||
Net loss | $ | (148 | ) | $ | (10 | ) | $ | - | $ | (158 | ) | ||||||
Expenditures for segment assets, as of March 31, 2014 | $ | 38 | $ | (16 | ) | $ | - | $ | 22 | ||||||||
Total assets as of March 31, 2014 | $ | 3,416 | $ | 2,820 | $ | - | $ | 6,236 | |||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months ended | ||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
C&A Korea | 18 | % | (*) |
Note_1_General_Details
Note 1 - General (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Number of Reportable Segments | 2 |
Note_3_Inventories_Details_Inv
Note 3 - Inventories (Details) - Inventories (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ||
Raw materials, parts and supplies | $414 | $287 |
Work in progress | 336 | 357 |
Finished products | 1,117 | 1,009 |
$1,867 | $1,653 |
Note_4_Accounting_for_Stockbas2
Note 4 - Accounting for Stock-based Compensation (Details) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 |
Note 4 - Accounting for Stock-based Compensation (Details) [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 690,130 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Share Price | $0.88 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $680 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 58 days |
Maximum [Member] | |
Note 4 - Accounting for Stock-based Compensation (Details) [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Officers, Management, Other Key Employees and Others [Member] | |
Note 4 - Accounting for Stock-based Compensation (Details) [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,372,360 |
Note_4_Accounting_for_Stockbas3
Note 4 - Accounting for Stock-based Compensation (Details) - Option Activity (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | |||
Option Activity [Abstract] | ||||
Outstanding | 1,262,763 | |||
Outstanding, weighted average exercise price | $1.57 | |||
Outstanding, weighted average remaining contractual term (years) | 7 years 204 days | 7 years 237 days | ||
Outstanding, aggregate intrinsic value | $40,570 | [1] | ||
Exercisable options at the end of the period | 482,763 | |||
Exercisable options at the end of the period | $1.47 | |||
Exercisable options at the end of the period | 5 years 80 days | |||
Exercisable options at the end of the period | 6,090 | [1] | ||
Outstanding | 1,227,763 | |||
Outstanding, weighted average exercise price | $1.57 | |||
Outstanding, weighted average remaining contractual term (years) | 7 years 204 days | 7 years 237 days | ||
Outstanding, aggregate intrinsic value | $8,090 | [1] | ||
[1] | Calculation of aggregate intrinsic value is based on the share price of the Company's common stock as of March 31, 2015 ($ 0.88 per share). |
Note_5_Loss_Per_Share_Details_
Note 5 - Loss Per Share (Details) - Computation of the Basic and Diluted Earnings Per Share (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Computation of the Basic and Diluted Earnings Per Share [Abstract] | ||
Loss available to Common shareholders | ($204) | ($158) |
Denominator: Total weighted average number of shares used in Computing basic and diluted loss per share | 6,775,971 | 6,841,201 |
Basic and diluted loss per share | ($0.03) | ($0.02) |
Note_6_Investment_in_Telkoor_D
Note 6 - Investment in Telkoor (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 16, 2011 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 16, 2011 |
Note 6 - Investment in Telkoor (Details) [Line Items] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | $50 | ||||
Telkoor [Member] | |||||
Note 6 - Investment in Telkoor (Details) [Line Items] | |||||
Business Acquisition Shares Acquired (in Shares) | 1,136,666 | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 8.80% | 8.80% | |||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | $50 | $175 | $175 |
Note_7_Segments_Major_Customer2
Note 7 - Segments, Major Customers and Geographic Information (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 2 |
Note_7_Segments_Major_Customer3
Note 7 - Segments, Major Customers and Geographic Information (Details) - Segment Reporting (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenues | $1,896 | $2,037 |
Depreciation and amortization expense | 58 | 61 |
Operating income (loss) | -219 | -155 |
Other expense, net | -3 | |
Impairment of investment | -50 | |
Other income, net | 65 | |
Net income (loss) | -204 | -158 |
Expenditures for segment assets | 99 | 22 |
Total assets | 6,048 | 6,236 |
Intersegment Eliminations [Member] | Intersegment Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | -111 | -7 |
Intersegment Eliminations [Member] | Total Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | -111 | -7 |
DPC [Member] | Intersegment Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 111 | 7 |
DPC [Member] | Total Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 1,035 | 1,173 |
DPC [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 924 | 1,166 |
Depreciation and amortization expense | 18 | 16 |
Operating income (loss) | -265 | -148 |
Net income (loss) | -265 | -148 |
Expenditures for segment assets | 46 | 38 |
Total assets | 2,799 | 3,416 |
DPL [Member] | Total Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 972 | 871 |
DPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 972 | 871 |
Depreciation and amortization expense | 40 | 45 |
Operating income (loss) | 46 | -7 |
Net income (loss) | 61 | -10 |
Expenditures for segment assets | 53 | -16 |
Total assets | 3,249 | 2,820 |
Total Revenues [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $1,896 | $2,037 |
Note_7_Segments_Major_Customer4
Note 7 - Segments, Major Customers and Geographic Information (Details) - Major Customer Data as a Percentage of Total Revenues (C&A Korea [Member], Customer Concentration Risk [Member], Sales Revenue, Net [Member]) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | ||
C&A Korea [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Concentration Risk [Line Items] | |||
C&A Korea | 18.00% | [1] | |
[1] | Less than 10% |