Gse Systems (GVP) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	GSE SYSTEMS INC
Entity Central Index Key	944,480
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		19,636,973
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 11,763	$ 19,111
Restricted cash	647	960
Contract receivables, net	18,757	13,997
Prepaid expenses and other current assets	2,680	2,795
Total current assets	33,847	36,863
Equipment, software, and leasehold improvements	5,102	4,782
Accumulated depreciation	(3,828)	(3,719)
Equipment, software, and leasehold improvements, net	1,274	1,063
Software development costs, net	677	690
Goodwill	8,431	8,431
Intangible assets, net	2,456	2,604
Deferred tax assets	6,336	7,167
Other assets	37	37
Total assets	53,058	56,855
Current liabilities:
Accounts payable	557	1,251
Accrued expenses	3,523	2,276
Accrued compensation	2,975	2,866
Billings in excess of revenue earned	12,592	14,543
Accrued warranty	1,186	1,433
Current contingent consideration	0	1,701
Other current liabilities	1,410	1,182
Total current liabilities	22,243	25,252
Other liabilities	1,453	1,931
Total liabilities	23,696	27,183
Commitments and contingencies
Stockholders' equity:
Preferred stock $.01 par value, 2,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock $0.01 par value, 30,000,000 shares authorized, 21,215,884 and 21,024,395 shares issued and 19,616,973 and 19,425,484 shares outstanding in 2018 and 2017	212	210
Additional paid-in capital	77,376	76,802
Accumulated deficit	(43,711)	(42,870)
Accumulated other comprehensive loss	(1,516)	(1,471)
Treasury stock at cost, 1,598,911 shares	(2,999)	(2,999)
Total stockholders' equity	29,362	29,672
Total liabilities and stockholders' equity	$ 53,058	$ 56,855

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	21,215,884	21,024,395
Common stock, shares outstanding (in shares)	19,616,973	19,425,484
Treasury stock (in shares)	1,598,911	1,598,911

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue	$ 22,895	$ 16,342
Cost of revenue	17,997	12,220
Gross profit	4,898	4,122
Operating expenses:
Selling, general and administrative	4,527	3,592
Research and development	329	402
Restructuring charges	917	45
Depreciation	103	76
Amortization of definite-lived intangible assets	150	64
Total operating expenses	6,026	4,179
Operating loss	(1,128)	(57)
Interest income, net	22	27
Loss on derivative instruments, net	(156)	(160)
Other income (expense), net	25	(3)
Loss before income taxes	(1,237)	(193)
(Benefit) provision for income taxes	259	73
Net loss	$ (1,496)	$ (266)
Basic loss per common share	$ (0.08)	$ (0.01)
Diluted loss per common share	$ (0.08)	$ (0.01)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net loss	$ (1,496)	$ (266)
Foreign currency translation adjustment	(45)	93
Comprehensive loss	$ (1,541)	$ (173)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Total
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 655			$ 655
Balance (Scenario, Previously Reported [Member]) at Dec. 31, 2017			(42,870)			29,672
Balance at Dec. 31, 2017	$ 210	$ 76,802		$ (1,471)	$ (2,999)	$ 29,672
Balance (in shares) at Dec. 31, 2017	21,024,395				(1,598,911)	19,425,484
Stock-based compensation expense		595				$ 595
Common stock issued for options exercised (in shares)	109,513
Common stock issued for options exercised	$ 1	56				57
Common stock issued for RSUs vested (in shares)	81,976
Common stock issued for RSUs vested	$ 1	(1)				0
Vested RSU shares withheld to pay taxes		(76)				(76)
Foreign currency translation adjustment				(45)		(45)
Net income			(1,496)			(1,496)
Balance at Mar. 31, 2018	$ 212	$ 77,376	$ (43,711)	$ (1,516)	$ (2,999)	$ 29,362
Balance (in shares) at Mar. 31, 2018	21,215,884				(1,598,911)	19,616,973

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (1,496)	$ (266)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	103	76
Amortization of definite-lived intangible assets	150	64
Amortization of capitalized software development costs	118	117
Change in fair value of contingent consideration, net	0	254
Stock-based compensation expense	627	596
Loss on derivative instruments, net	156	160
Deferred income taxes	(90)	0
Changes in assets and liabilities:
Contract receivables	(4,683)	4,937
Prepaid expenses and other assets	(12)	(523)
Accounts payable, accrued compensation and accrued expenses	647	(1,184)
Billings in excess of revenue earned	(1,127)	(3,279)
Accrued warranty	(75)	67
Other liabilities	154	325
Cash (used in) provided by operating activities	(5,528)	1,090
Cash flows from investing activities:
Capital expenditures	(318)	(44)
Capitalized software development costs	(105)	(29)
Cash used in investing activities	(423)	(73)
Cash flows from financing activities:
Proceeds from issuance of common stock on the exercise of stock options	57	62
Payments on contingent consideration	(1,701)	(597)
RSUs withheld to pay taxes	(76)	(672)
Cash used in financing activities	(1,720)	(1,207)
Effect of exchange rate changes on cash	10	68
Net (decrease) increase in cash and cash equivalents	(7,661)	(122)
Cash and cash equivalents	11,763	21,625
Restricted cash	647	1,140
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Total	$ 12,410	$ 22,765

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The consolidated interim financial statements included herein have been prepared by GSE Systems, Inc. (the Company, GSE, we, us, or our) and are unaudited. In the opinion of the Company's management, all adjustments and reclassifications of a normal and recurring nature necessary to present fairly the financial position, results of operations and cash flows for the periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted. The results of operations for interim periods are not necessarily an indication of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 16, 2018. The Company has two reportable segments as follows: ● Performance Improvement Solutions (approximately 43% of revenue) Our Performance Improvement Solutions segment primarily encompasses our technical engineering and power plant high-fidelity simulation solutions and interactive computer based tutorials/simulation focused on the process industry. This segment includes various simulation products, engineering services, and operation training systems delivered across the industries we serve: primarily nuclear and fossil fuel power generation, as well as the process industries. Our simulation solutions include the following: (1) simulation software and services, including operator training systems, for the nuclear power industry, (2) simulation software and services, including operator training systems, for the fossil power industry, and (3) simulation software and services for the process industries used to teach fundamental industry processes and control systems to newly hired employees and for ongoing workforce development and training. GSE and its predecessors have been providing these services since 1976. ● Nuclear Industry Training and Consulting (approximately 57% of revenue) Nuclear Industry Training and Consulting provides highly specialized and skilled nuclear operations instructors, procedure writers, technical engineers, and other consultants to the nuclear power industry. These employees work at our clients' facilities under client direction. Examples of these highly skilled positions are senior reactor operations instructors, procedure writers, project managers, work management specialists, planners and training material developers. This business is managed through the Hyperspring and Absolute subsidiaries. The business model, management focus, margins and other factors clearly separate this business line from the rest of the Company's product and service portfolio. GSE and its predecessors have been providing these services since 1997. Financial information about the two business segments is provided in Note 18 of the accompanying condensed consolidated financial statements. The preparation of 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 date of the financial statements as well as reported amounts of revenues and expenses during the reporting period. The Company's most significant estimates relate to revenue recognition on contracts with customers, allowance for doubtful accounts, Revenue recognition The Company derives its revenue through three broad revenue streams: 1) System Design and Build (SDB), 2) Software, and 3) Training and Consulting services. We recognize revenue from SDB and software contracts mainly through the Performance Improvement Solutions segment and the training and consulting service contracts through both the Performance Improvement Solutions segment and Nuclear Industry Training and Consulting segment. The SDB contracts are typically fixed-price and consist of initial design, engineering, assembly and installation of training simulators which include hardware, software, labor, and post contract support (PCS) on the software. We generally have two main performance obligations for an SDB contract: the training simulator build and PCS. The training simulator build performance obligation generally includes hardware, software, and labor. The transaction price under the SDB contracts is allocated to each performance obligation based on its standalone selling price. We recognize the training simulator build revenue over the construction and installation period using the cost-to-cost input method as our performance creates or enhances assets with no alternative use to the Company, and we have an enforceable right to payment for performance completed to date. Cost-to-cost input method best measures the progress toward complete satisfaction of the performance obligation. PCS revenue is recognized ratably over the service period, as PCS is deemed as a stand-ready obligation. In applying the cost-to-cost input method, we use the actual costs incurred to date relative to the total estimated costs to measure the work progress toward the completion of the performance obligation and recognize revenue accordingly. Estimated contract costs are reviewed and revised periodically as the work progresses, and the cumulative effect of any change in estimates is recognized in the period in which the change is identified. Estimated losses are recognized in the period such losses are identified. Uncertainties inherent in the performance of contracts include labor availability and productivity, material costs, change order scope and pricing, software modification and customer acceptance issues. The reliability of these cost estimates is critical to the Company's revenue recognition as a significant change in the estimates can cause the Company's revenue and related margins to change significantly from the amounts estimated in the early stages of the project. The SDB contracts generally on the systems. The base warranty will not be accounted for as a separate performance obligation under the contract because it does not provide the customer with a service in addition to the assurance evaluated on a case by case basis to determine if it provides more than just assurance that the product operates as intended, which requires carve-out as a separate performance obligation. Revenue from the sale of standalone software licenses, which do not require significant modification or customization is recognized upon its delivery to the customer. Delivery is considered to have occurred when the customer receives a copy of the software and is able to use and benefit from the software. A software license sale contract with multiple deliverables typically includes the following elements: license, installation and training services and PCS. The total transaction price of a software license sale contract is typically fixed, and is allocated to the identified performance obligations based on their relative standalone selling prices. Revenue is recognized as the performance obligations are satisfied. Specifically, license revenue is recognized when the software license is delivered to the customer; installation and training revenue is recognized when the installation and training is completed without regard to a detailed evaluation of the point in time criteria due to the short-term nature of the installation and training services (one to two days on average); and PCS revenue is recognized ratably over the service period, as PCS is deemed as a stand-ready obligation. The contracts within the training and consulting services revenue stream are primarily time and materials (T&M) based. Under a typical T&M contract, the Company is compensated based on the number of hours of approved time provided by temporary workers and the bill rates which are fixed per type of work, as well as approved expenses incurred. The customers are billed on a regular basis, such as weekly, biweekly or monthly. In accordance with Accounting Standards Codification (ASC) 606-10-55-18, we elected to apply the "right to invoice" practical expedient, under which we recognize revenue in the amount to which we have the right to invoice. The invoice amount represents the number of hours of approved time worked by each temporary worker multiplied by the bill rate for the type of work, as well as approved expenses incurred. For contracts with multiple performance obligations, we allocate the contract price to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncement and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASC 606 is as follows (in thousands): Balance at January 1, 2018 As Reported Adoption of ASC 606 As Adjusted Contract receivables, net $ 13,997 $ (10) $ 13,987 Deferred tax assets 7,167 (241) 6,926 Billings in excess of revenue earned 14,543 (906) 13,637 Accumulated deficit (42,870) 655 (42,215) The impact of adoption on our consolidated statement of operations and balance sheet was as follows (in thousands): Income Statement For the three months ended March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Revenue $ 22,895 $ 22,852 $ 43 Gross profit 4,898 4,855 43 Provision for income taxes 259 231 (28) Net loss (1,496) (1,511) 15 Balance Sheet March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Contract receivables, net $ 18,757 $ 18,874 $ (117) Deferred tax assets 6,336 6,605 (269) Billings in excess of revenue earned 12,592 13,648 (1,056) Accumulated deficit (43,711) (44,381) 670

Basic and Diluted Earnings (Los

Basic and Diluted Earnings (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2018
Basic and Diluted Earnings (Loss) Per Common Share [Abstract]
Basic and Diluted Earnings (Loss) Per Common Share	3. Basic and Diluted Loss per Common Share Basic loss per share is based on the weighted average number of outstanding common shares for the period. Diluted loss per share adjusts the weighted average shares outstanding for the potential dilution that could occur if outstanding vested stock options were exercised. The number of common shares and common share equivalents used in the determination of basic and diluted loss per share were as follows: (in thousands, except for share amounts) Three months ended March 31, 2018 2017 Numerator: Net loss $ (1,496) $ (266) Denominator: Weighted-average shares outstanding for basic loss per share 19,514,385 19,094,382 Effect of dilutive securities: Stock options and restricted stock units - - Adjusted weighted-average shares outstanding and assumed conversions for diluted loss per share 19,514,385 19,094,382 Shares related to dilutive securities excluded because inclusion would be anti-dilutive 763,200 564,833

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2018
Acquisition - Absolute [Abstract]
Acquisition - Absolute [Text Block]	4. Acquisition On September 20, 2017, GSE, through its wholly-owned subsidiary GSE Performance Solutions, Inc. (Performance Solutions), acquired 100% of the capital stock of Absolute Consulting, Inc. (Absolute) for $8.8 million pursuant to the Stock Purchase Agreement by and among Performance Solutions and the sellers of Absolute. The purchase price was subject to a customary working capital adjustment resulting in total consideration of $9.5 million. An indemnification escrow of $1.0 million was funded from the cash paid to the sellers and is available to GSE and Performance Solutions to satisfy indemnification claims until September 20, 2019. Absolute is a provider of technical consulting and staffing solutions to the global nuclear power industry. Located in Navarre, Florida, Absolute has established long-term relationships with blue-chip customers primarily in the nuclear power industry. The acquisition of Absolute is expected to strengthen the Company's global leadership in nuclear training and consulting solutions, add new capacities to our technical consulting and staffing solutions offerings and bring highly complementary customers, while deepening relationships with existing clients. The following table summarizes the consideration paid to acquire Absolute and the fair value of the assets acquired and liabilities assumed at the date of the transaction. (in thousands) Total purchase price $ 9,521 Purchase price allocation: Cash $ 455 Contract receivables 5,121 Prepaid expenses and other current assets 68 Property, and equipment, net 184 Intangible assets 2,569 Accounts payable, accrued expenses, and other liabilities (78) Accrued compensation (1,617) Total identifiable net assets 6,702 Goodwill 2,819 Net assets acquired $ 9,521 The goodwill is primarily attributable to the additional capacities to offer broader solutions to new and existing customers and the expected enhanced cost and growth synergies as a result of the acquisition. The total amount of goodwill that is expected to be tax deductible is $2.8 million. All of the $2.8 million of goodwill was assigned to our Nuclear Industry Training and Consulting segment. The fair value of the assets acquired includes gross trade receivables of $5.1 million, which was collected in full after acquisition. GSE did not acquire any other class of receivable as a result of the acquisition of Absolute. The Company identified $2.6 million of other intangible assets, including customer relationships and trademarks/names, with amortization periods of three to 10 years. The following table summarizes the fair value of intangible assets acquired at the date of acquisition and the related weighted average amortization period: Intangible Assets Weighted average amortization period Fair Value (in years) (in thousands) Customer relationships 10 $ 1,856 Trademarks/Names 3 713 Total $ 2,569

Restructuring Activities

Restructuring Activities	3 Months Ended
	Mar. 31, 2018
Restructuring Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	5. Restructuring Activities On December 27, 2017, the board of GSE Systems, Inc. approved an international restructuring plan to streamline and optimize the Company's global operations. Beginning in December 2017, GSE has been in the process of consolidating its engineering services and R&D activities to Maryland and ceasing an unprofitable non-core business in the U.K. As a result, the Company will be closing its offices in Nyköping, Sweden; Chennai, India; and Stockton-on-Tees, UK. These actions are designed to improve Company productivity by eliminating duplicate employee functions and increasing GSE's focus on its core business, improving efficiency and maintaining the full range of engineering capabilities while reducing costs and organizational complexity. GSE expects to eliminate approximately 40 positions due to these changes, primarily in Europe and India, and will undertake other cost-savings measures. The restructuring plan is expected to be completed in 2018. As a result of these efforts, GSE expects to record a restructuring charge of approximately $1.8 million, primarily related to workforce reductions, contract termination costs and asset write-offs due to the exit activities. As of March 31, 2018, we had recorded a restructuring charge of $1.7 million. The amounts to be transferred from cumulative translation adjustments and included in determining net income for the period, in which the liquidation of these foreign entities are completed, are not included in the estimated total amount of restructuring charge. We expect to record the remaining charges and the translation adjustments by the end of 2018. The following tables summarize the restructuring costs and restructuring liabilities: ( in thousands March 31, 2018 Total Expected Costs Costs Incurred to Date Expected Costs Remaining Employee termination benefits $ 736 $ 729 $ 7 Lease termination costs 555 519 36 Assets write-offs/impairment 222 222 - Other restructuring costs 272 180 92 Total Restructuring costs $ 1,785 $ 1,650 $ 135 The restructuring costs related to our Performance Improvement Solutions segment and are included in the consolidated statement of operations within the "Restructuring charges" line caption. Employee termination benefits Lease termination costs Other Restructuring costs Total Balance as of January 1, 2018 $ 465 $ - $ 33 $ 498 Accruals 264 519 134 917 Payments (406) - (5) (411) Currency translation and other adjustments 1 119 - 120 Balance as of March 31, 2018 $ 324 $ 638 $ 162 $ 1,124 The accrued employee termination benefits were included in "accrued compensation" line, and the accrued lease termination costs and other restructuring costs were included in "accrued expenses" in the consolidated balance sheets.

Contingent Consideration

Contingent Consideration	3 Months Ended
	Mar. 31, 2018
Contingent Consideration [Abstract]
Contingent Consideration	6. Contingent Consideration Acquisitions may include contingent consideration payments based on future financial measures of an acquired company. Under ASC 805, Business Combinations As of December 31, 2017, the remaining contingent consideration, related to our acquisition of Hyperspring in 2014 was $1.7 million, all of which was paid in January 2018. There was no contingent liability as of March 31, 2018.

Contract Receivables

Contract Receivables	3 Months Ended
	Mar. 31, 2018
Contract Receivables [Abstract]
Contract Receivables	7. Contract Receivables Contract receivables represent the Company's unconditional rights to considerations due from a broad base of both domestic and international customers. All contract receivables are considered to be collectible within twelve months. The components of contract receivables are as follows: (in thousands) March 31, December 31, 2018 2017 Billed receivables $ 10,823 $ 8,154 Unbilled receivables 8,071 5,980 Allowance for doubtful accounts (137) (137) Total contract receivables, net $ 18,757 $ 13,997 During April 2018, the Company invoiced $2.8 million of the unbilled amounts related to the balance at March 31, 2018. As of March 31, 2018 and December 31, 2017, the Company had one customer that accounted for 25.8% and 26.7%, respectively, of its consolidated contract receivables.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2018
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid Expenses and Other Current Assets	8. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: (in thousands) March 31, December 31, 2018 2017 Inventory $ 733 $ 755 Income taxes receivable 363 418 Prepaid expenses 628 549 Other current assets 956 1,073 Total prepaid expenses and other current assets $ 2,680 $ 2,795 At March 31, 2018 and December 31, 2017, prepaid expenses and other current assets are comprised primarily of inventory and other current assets. Inventory is being purchased to support the construction of three major nuclear simulation projects related to a significant contract that was executed during the first quarter of 2016. Inventory is recorded at the lower of cost or net realizable value in accordance with ASC 330, Inventory.

Software Development Costs

Software Development Costs	3 Months Ended
	Mar. 31, 2018
Software Development Costs [Abstract]
Software Development Costs	9. Software Development Costs, Net Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon the establishment of technological feasibility. Capitalization ceases and amortization of capitalized costs begins when the software product is commercially available for general release to customers. Amortization of capitalized computer software development costs is included in cost of revenue and is determined using the straight-line method over the remaining estimated economic life of the product, typically three years. On an annual basis, and more frequently as conditions indicate, the Company assesses the recovery of the unamortized software development costs by estimating the net undiscounted cash flows expected to be generated by the sale of the product. If the undiscounted cash flows are not sufficient to recover the unamortized software costs the Company will write-down the carrying amount of such asset to its estimated fair value based on the future discounted cash flows. The excess of any unamortized computer software costs over the related fair value is written down and charged to operations. Software development costs capitalized were approximately $105,000 and $29,000 for the three months ended March 31, 2018 and 2017, respectively. Total amortization expense was approximately $118,000 and $117,000 for the three months ended March 31, 2018 and 2017, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	10. Goodwill and Intangible Assets The Company's intangible assets include amounts recognized in connection with business acquisitions, including customer relationships, trade names, non-compete agreements, and contract backlog. The Company reviews goodwill for impairment annually as of December 31 and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The Company tests goodwill at the reporting unit level. A reporting unit is an operating segment, or one level below an operating segment, as defined by U.S. GAAP. After the acquisition of Hyperspring on November 14, 2014, the Company determined that it had two reporting units, which are the same as our two operating segments: (i) Performance Improvement Solutions; and (ii) Nuclear Industry Training and Consulting (which includes Hyperspring and Absolute). As of March 31, 2018, and December 31, 2017, goodwill of $8.4 million related to the Nuclear Industry Training and Consulting segment. No events or circumstances occurred during the current reporting period that would indicate impairment of such goodwill. Amortization of intangible assets other than goodwill is recognized on a straight-line basis over the estimated useful life of the intangible assets, except for contract backlog and customer relationships which are recognized in proportion to the related projected revenue streams. Intangible assets with definite lives are reviewed for impairment if indicators of impairment arise. The Company does not have any intangible assets with indefinite useful lives, other than goodwill. There were no indications of impairment of intangible assets during the current reporting period.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	11. Fair Value of Financial Instruments ASC 820, Fair Value Measurement The levels of the fair value hierarchy established by ASC 820 are: Level 1: inputs are quoted prices, unadjusted, in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2: inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. A Level 2 input must be observable for substantially the full term of the asset or liability. Level 3: inputs are unobservable and reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability. At March 31, 2018, and December 31, 2017, the Company considers the recorded value of certain of its financial assets and liabilities, which consist primarily of cash equivalents, accounts receivable and accounts payable, to approximate fair value based upon their short-term nature. For the three months ended March 31, 2018, the Company did not have any transfers between fair value Level 1, Level 2 or Level 3. The Company did not hold any non-financial assets or non-financial liabilities subject to fair value measurements on a recurring basis at March 31, 2018. The following table presents assets and liabilities measured at fair value at March 31, 2018: (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Money market funds $ 2,780 $ - $ - $ 2,780 Foreign exchange contracts - 83 - 83 Total assets $ 2,780 $ 83 $ - $ 2,863 Liability awards - (272) - (272) Total liabilities $ - $ (272) $ - $ (272) Money market funds at both March 31, 2018 and December 31, 2017 are included in cash and cash equivalents in the respective consolidated balance sheets. The following table presents assets and liabilities measured at fair value at December 31, 2017: (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Money market funds $ 3,240 $ - $ - $ 3,240 Foreign exchange contracts - 201 - 201 Total assets $ 3,240 $ 201 $ - $ 3,441 Liability awards - (242) - (242) Contingent consideration - - (1,701) (1,701) Total liabilities $ - $ (242) $ (1,701) $ (1,943) The following table provides a roll-forward of the fair value of the contingent consideration categorized as Level 3 for the three months ended March 31, 2018: (in thousands) Balance, January 1, 2018 $ 1,701 Payments made on contingent liabilities (1,701) Change in fair value - Balance, March 31, 2018 $ -

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments [Abstract]
Derivative Instruments	12. Derivative Instruments The Company utilizes forward foreign currency exchange contracts to manage market risks associated with the fluctuations in foreign currency exchange rates and minimize credit exposure by limiting counterparties to nationally recognized financial institutions. As of March 31, 2018, the Company had foreign exchange contracts outstanding of approximately 162.5 million Japanese Yen and 0.2 million Australian Dollars at fixed rates. The contracts expire on various dates through December 2018. At December 31, 2017, the Company had contracts outstanding of approximately 162.5 million Japanese Yen, 24,000 Euro, and 0.2 million Australian Dollars at fixed rates. The Company has not designated the foreign exchange contracts as hedges and recorded the estimated net fair values of the contracts on the consolidated balance sheets as follows: March 31, December 31, (in thousands) 2018 2017 Asset derivatives Prepaid expenses and other current assets $ 83 $ 201 Net fair value $ 83 $ 201 The changes in the fair value of the foreign exchange contracts are included in loss on derivative instruments, net, in the consolidated statements of operations. The foreign currency denominated contract receivables, billings in excess of revenue earned, and subcontractor accruals that are related to the outstanding foreign exchange contracts are remeasured at the end of each period into the functional currency using the current exchange rate at the end of the period. The gain or loss resulting from such remeasurement is also included in loss on derivative instruments, net, in the consolidated statements of operations. For the three months ended March 31, 2018 and 2017, the Company recognized a net loss on its derivative instruments as outlined below: Three months ended March 31, (in thousands) 2018 2017 Foreign exchange contracts - change in fair value $ (118) $ (86) Remeasurement of related contract receivables, and billings in excess of revenue earned (38) (74) Loss on derivative instruments, net $ (156) $ (160)

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Stock-Based Compensation [Abstract]
Stock-Based Compensation	13. Stock-Based Compensation The Company recognizes stock-based compensation expense for all equity-based awards issued to employees, directors and non-employees that are expected to vest. Stock-based compensation expense is based on the fair value of awards as of the grant date. The Company recognized $595,000 and $614,000 of stock-based compensation expense related to equity awards for the three months ended March 31, 2018 and 2017, respectively, under the fair value method. In addition to the stock-based compensation expense recognized, the Company also recognized $32,000 and $(18,000) of expense related to the change in the fair value of cash-settled restricted stock units (RSUs) during the three months ended March 31, 2018 and 2017, respectively. During the three months ended March 31, 2018, the Company granted 210,092 time-based RSUs to employees with an aggregate fair value of $682,799. During the three months ended March 31, 2017, the Company granted 223,802 time-based RSUs to employees with an aggregate fair value of $783,000. A portion of the time-based RSUs vest quarterly in equal amounts over the course of eight quarters and the remainder vest annually in equal amounts over the course of three years. The fair value of the time-based RSUs is expensed ratably over the requisite service period, which ranges from one to three years. During the three months ended March 31, 2018 and 2017, the Company did not grant performance-based RSUs or stock options.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Long-Term Debt [Abstract]
Long-Term Debt	14. Debt Line of Credit Citizens Bank The Company entered into a three-year, $5.0 million revolving line of credit facility (RLOC) with Citizens Bank on December 29, 2016, to fund general working capital needs. Working capital advances bear interest of one-month LIBOR plus 2.25% per annum and letter of credit fees are 1.25% per annum. The Company is not required to maintain a restricted cash collateral account at Citizens Bank for outstanding letters of credit and working capital advances. The maximum availability under the RLOC is subject to a borrowing base equal to 80% of eligible accounts receivable, and is reduced for any issued and outstanding letters of credit and working capital advances. At March 31, 2018, there were no outstanding borrowings on the RLOC and two letters of credit totaling $0.7 million. The amount available at March 31, 2018, after consideration of the borrowing base, letters of credit and working capital advances was approximately $4.3 million. The credit facility agreement is subject to standard financial covenants and reporting requirements. At March 31, 2018, the Company was in compliance with its financial covenants. BB&T Bank At March 31, 2018, the Company had two letters of credit with BB&T totaling $0.6 million, which have expired and are pending release by the bank and customer. At March 31, 2018 and December 31, 2017, the cash collateral account with BB&T totaled $0.6 million and $1.0 million, respectively. The balances were classified as restricted cash on the consolidated balance sheets.

Product Warranty

Product Warranty	3 Months Ended
	Mar. 31, 2018
Product Warranty [Abstract]
Product Warranty	15. Product Warranty The Company accrues for estimated warranty costs at the time the related revenue is recognized based on historical experience and projected claims. The Company's SDB contracts generally provide a one to two-year base warranty on the systems. The portion of the warranty provision expected to be incurred within 12 months is classified as current within accrued warranty and totals $1.2 million, while the remaining $0.7 million is classified as long-term within other liabilities. The activity in the accrued warranty accounts is as follows: (in thousands) Balance, January 1, 2018 $ 1,953 Current period provision 28 Current period claims (103) Currency adjustment 5 Balance at March 31, 2018 $ 1,883

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Revenue [Text Block]	16. Revenue We generate revenue primarily through three broad revenue streams: 1) SDB, 2) Software, and 3) Training and Consulting Services. We recognize revenue from SDB and software contracts mainly through the Performance Improvement Solutions segment and the training and consulting service contracts through both the Performance Improvement Solutions segment and Nuclear Industry Training and Consulting segment. The following table represents a disaggregation of revenue by type of goods or services for the three months ended March 31, 2018 and 2017, along with the reportable segment for each category: ( in thousands Three Months Ended March 31, 2018 2017 (1) Performance Improvement Solutions System Design and Build $ 7,495 $ 7,319 Software 869 456 Training and Consulting Services 1,537 1,895 Nuclear Industry Training and Consulting Training and Consulting Services 12,994 6,672 Total revenue $ 22,895 $ 16,342 (1) SDB contracts are typically fixed-priced, and we receive payments based on a billing schedule as established in our contracts. The transaction price for software contracts is generally fixed. Fees for software are normally due in advance of or shortly after delivery of the software. Fees for PCS are normally paid in advance of the service period. For Training and Consulting Services, the customers are generally billed on a regular basis, such as weekly, biweekly or monthly, for services provided. Contract liability, which we classify as billing in excess of revenue earned, relates to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as performance obligations are satisfied. The following table reflects the balance of contract liabilities and the revenue recognized in the reporting period that was included in the contract liabilities from contracts with customers: ( in thousands March 31, 2018 December 31, 2017 Billings in excess of revenue earned (BIE) $ 12,592 $ 14,543 Revenue recognized in the period from amounts included in BIE at the beginning of the period $ 5,115 N/A For an SDB contract, we generally have two main performance obligations: the training simulator build and PCS. The training simulator build generally includes hardware, software, and labor. We recognize the training simulator build revenue over the construction and installation period using the cost-to-cost input method. In applying the cost-to-cost input method, we use the actual costs incurred to date relative to the total estimated costs to measure the work progress toward the completion of the performance obligation and recognize revenue accordingly. Estimated contract costs are reviewed and revised periodically as the work progresses, and the cumulative effect of any change in estimates is recognized in the period in which the change is identified. Estimated losses are recognized in the period such losses are identified. Uncertainties inherent in the performance of contracts include labor availability and productivity, material costs, change order scope and pricing, software modification and customer acceptance issues. The reliability of these cost estimates is critical to the Company's revenue recognition as a significant change in the estimates can cause the Company's revenue and related margins to change significantly from the amounts estimated in the early stages of the project. For the three months ended March 31, 2018, the Company did not recognize significant revenue related to performance obligations satisfied in previous periods. As of March 31, 2018, the aggregate amount of transaction price allocated to the remaining performance obligations of SDB and Software contracts is $35.6 million. The Company will recognize the revenue as the performance obligations are satisfied, which is expected to occur over the next 12 months. Training and consulting services contracts are primarily T&M based. Under a typical T&M contract, the Company is compensated based on the number of hours of approved time provided by temporary workers and the bill rates, which are fixed per type of work, as well as approved expenses incurred. As part of our adoption of ASU 2014-09, we have elected to use the optional exemption under ASC 606-10-50-14(b), pursuant to which we have excluded disclosures of transaction prices allocated to remaining performance obligations under such contracts and when we expect to recognize the revenue.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Income Taxes	17. Income Taxes The following table presents the provision for income taxes and the effective tax rates: Three months ended March 31, ($ in thousands) 2018 2017 Provision for income taxes $ 259 $ 73 Effective tax rate (20.9%) (37.8%) The Company's income tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. Tax expense in 2018 is comprised mainly of federal income tax expense, foreign income tax expense, and state taxes. Tax expense in 2017 is comprised mainly of foreign income tax expense, Alternative Minimum Tax, state taxes, and deferred tax expense relating to the tax amortization of goodwill. Our effective tax rate was (20.9%) for the three months ended March 31, 2018. The difference in our effective tax rate and the U.S. statutory federal income tax rate of 21% was primarily due to our China subsidiary which had a taxable income for the three months ended March 31, 2018 and the accruals related to uncertain tax positions for certain foreign tax contingencies. Because of its net operating loss carryforwards, the Company is subject to U.S. federal and state income tax examinations from the year 1997 and forward. The Company is subject to foreign tax examinations by tax authorities for years 2011 forward for Sweden, 2014 forward for China, and 2015 forward for both India and the UK. An uncertain tax position taken or expected to be taken in a tax return is recognized in the consolidated financial statements when it is more likely than not ( i.e. The Company recognizes deferred tax assets to the extent that it is believed that these assets are more likely than not to be realized. The Company has evaluated all positive and negative evidence and determined that it will continue to assess a full valuation allowance on its Swedish and U.K. net deferred assets as of March 31, 2018. The Company has determined that it is more likely than not that it will realize the benefits of its deferred taxes in the U.S, China, and India. The Company recognizes the tax on GILTI as a period cost in the period the tax is incurred. Under this policy, we have not provided deferred taxes related to temporary differences that upon their reversal will affect the amount of income subject to GILTI in the period. The Company has made an entity classification (CTB) election to treat GSE UK as a disregarded entity effective January 1, 2018. Therefore, as of January 1, 2018, GSE UK is treated as a branch of the US for tax purposes. Accordingly, GSE UK's 2018 first quarter activity has been included in the US Company's income tax provision.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Information [Abstract]
Segment Information	18. Segment Information The Company has two reportable business segments. The Performance Improvement Solutions segment provides simulation, training and engineering products and services delivered across the breadth of industries we serve. Solutions include simulation for both training and engineering applications. Example training applications include turnkey and custom training services, while engineering services include plant design verification and validation. The Company provides these services across all market segments. Contract terms are typically less than two years. The Nuclear Industry Training and Consulting segment provides specialized workforce solutions primarily to the nuclear industry, working at clients' facilities. This business is managed through our Hyperspring and Absolute subsidiaries. The business model, management focus, margins and other factors clearly separate this business line from the rest of the GSE product and service portfolio. The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated loss before income taxes: (in thousands) Three months ended March 31, 2018 2017 Revenue: Performance Improvement Solutions $ 9,901 $ 9,670 Nuclear Industry Training and Consulting 12,994 6,672 $ 22,895 $ 16,342 Operating income: Performance Improvement Solutions $ (790) $ (110) Nuclear Industry Training and Consulting (338) 307 Change in fair value of contingent consideration, net - (254) Operating loss (1,128) (57) Interest income, net 22 27 Loss on derivative instruments, net (156) (160) Other income (expense), net 25 (3) Loss before income taxes $ (1,237) $ (193) Effective January 2018, and due to the acquisition of Absolute, the Performance Improvement Solutions allocated corporate overhead to the Nuclear Industry Training and Consulting segment. For the three months ended March 31, 2018 and 2017, a total of $1.2 million and $0.6 million of corporate overhead, respectively, was allocated to Nuclear Industry Training and Consulting segment. Prior period amounts were reclassified to reflect the change.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	19. Subsequent Events On May 14, 2018, we announced that the Company acquired True North Consulting, LLC (True North) on May 11, 2018, a leading provider of specialty engineering solutions to the nuclear power industry. Founded in 1999 in Montrose, Colorado, True North generated revenue of approximately $11 million for the year ended December 31, 2017, of which over 85% came from the nuclear power industry. True North employs roughly 60 full-time and part-time professionals with expertise in areas such as in-service testing for engineering programs focused on ASME OM code including Appendix J, balance of plant programs, thermal performance, in-service inspection for specialty engineering including ASME Section XI and software solutions. The Company acquired True North for approximately approximately approximately On May 11, 2018, the Company entered into an amended and restated credit agreement with Citizen's Bank, consisting of a five-year $5 million revolving line of credit and a five-year $25 million delayed draw term loan facility to fund acquisitions approved by the Lender. We drew down approximately $10.3 million to fund the acquisition of True North. Interest is based on a LIBOR spread of 200 to 275 basis points, depending on pre-defined leverage thresholds defined in the agreement.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated interim financial statements included herein have been prepared by GSE Systems, Inc. (the Company, GSE, we, us, or our) and are unaudited. In the opinion of the Company's management, all adjustments and reclassifications of a normal and recurring nature necessary to present fairly the financial position, results of operations and cash flows for the periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted. The results of operations for interim periods are not necessarily an indication of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 16, 2018. The Company has two reportable segments as follows: ● Performance Improvement Solutions (approximately 43% of revenue) Our Performance Improvement Solutions segment primarily encompasses our technical engineering and power plant high-fidelity simulation solutions and interactive computer based tutorials/simulation focused on the process industry. This segment includes various simulation products, engineering services, and operation training systems delivered across the industries we serve: primarily nuclear and fossil fuel power generation, as well as the process industries. Our simulation solutions include the following: (1) simulation software and services, including operator training systems, for the nuclear power industry, (2) simulation software and services, including operator training systems, for the fossil power industry, and (3) simulation software and services for the process industries used to teach fundamental industry processes and control systems to newly hired employees and for ongoing workforce development and training. GSE and its predecessors have been providing these services since 1976. ● Nuclear Industry Training and Consulting (approximately 57% of revenue) Nuclear Industry Training and Consulting provides highly specialized and skilled nuclear operations instructors, procedure writers, technical engineers, and other consultants to the nuclear power industry. These employees work at our clients' facilities under client direction. Examples of these highly skilled positions are senior reactor operations instructors, procedure writers, project managers, work management specialists, planners and training material developers. This business is managed through the Hyperspring and Absolute subsidiaries. The business model, management focus, margins and other factors clearly separate this business line from the rest of the Company's product and service portfolio. GSE and its predecessors have been providing these services since 1997. Financial information about the two business segments is provided in Note 18 of the accompanying condensed consolidated financial statements. The preparation of 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 date of the financial statements as well as reported amounts of revenues and expenses during the reporting period. The Company's most significant estimates relate to revenue recognition on contracts with customers, allowance for doubtful accounts,
Revenue Recognition	Revenue recognition The Company derives its revenue through three broad revenue streams: 1) System Design and Build (SDB), 2) Software, and 3) Training and Consulting services. We recognize revenue from SDB and software contracts mainly through the Performance Improvement Solutions segment and the training and consulting service contracts through both the Performance Improvement Solutions segment and Nuclear Industry Training and Consulting segment. The SDB contracts are typically fixed-price and consist of initial design, engineering, assembly and installation of training simulators which include hardware, software, labor, and post contract support (PCS) on the software. We generally have two main performance obligations for an SDB contract: the training simulator build and PCS. The training simulator build performance obligation generally includes hardware, software, and labor. The transaction price under the SDB contracts is allocated to each performance obligation based on its standalone selling price. We recognize the training simulator build revenue over the construction and installation period using the cost-to-cost input method as our performance creates or enhances assets with no alternative use to the Company, and we have an enforceable right to payment for performance completed to date. Cost-to-cost input method best measures the progress toward complete satisfaction of the performance obligation. PCS revenue is recognized ratably over the service period, as PCS is deemed as a stand-ready obligation. In applying the cost-to-cost input method, we use the actual costs incurred to date relative to the total estimated costs to measure the work progress toward the completion of the performance obligation and recognize revenue accordingly. Estimated contract costs are reviewed and revised periodically as the work progresses, and the cumulative effect of any change in estimates is recognized in the period in which the change is identified. Estimated losses are recognized in the period such losses are identified. Uncertainties inherent in the performance of contracts include labor availability and productivity, material costs, change order scope and pricing, software modification and customer acceptance issues. The reliability of these cost estimates is critical to the Company's revenue recognition as a significant change in the estimates can cause the Company's revenue and related margins to change significantly from the amounts estimated in the early stages of the project. The SDB contracts generally on the systems. The base warranty will not be accounted for as a separate performance obligation under the contract because it does not provide the customer with a service in addition to the assurance evaluated on a case by case basis to determine if it provides more than just assurance that the product operates as intended, which requires carve-out as a separate performance obligation. Revenue from the sale of standalone software licenses, which do not require significant modification or customization is recognized upon its delivery to the customer. Delivery is considered to have occurred when the customer receives a copy of the software and is able to use and benefit from the software. A software license sale contract with multiple deliverables typically includes the following elements: license, installation and training services and PCS. The total transaction price of a software license sale contract is typically fixed, and is allocated to the identified performance obligations based on their relative standalone selling prices. Revenue is recognized as the performance obligations are satisfied. Specifically, license revenue is recognized when the software license is delivered to the customer; installation and training revenue is recognized when the installation and training is completed without regard to a detailed evaluation of the point in time criteria due to the short-term nature of the installation and training services (one to two days on average); and PCS revenue is recognized ratably over the service period, as PCS is deemed as a stand-ready obligation. The contracts within the training and consulting services revenue stream are primarily time and materials (T&M) based. Under a typical T&M contract, the Company is compensated based on the number of hours of approved time provided by temporary workers and the bill rates which are fixed per type of work, as well as approved expenses incurred. The customers are billed on a regular basis, such as weekly, biweekly or monthly. In accordance with Accounting Standards Codification (ASC) 606-10-55-18, we elected to apply the "right to invoice" practical expedient, under which we recognize revenue in the amount to which we have the right to invoice. The invoice amount represents the number of hours of approved time worked by each temporary worker multiplied by the bill rate for the type of work, as well as approved expenses incurred. For contracts with multiple performance obligations, we allocate the contract price to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers.

Recent Accounting Pronounceme28

Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncement and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASC 606 is as follows (in thousands): Balance at January 1, 2018 As Reported Adoption of ASC 606 As Adjusted Contract receivables, net $ 13,997 $ (10) $ 13,987 Deferred tax assets 7,167 (241) 6,926 Billings in excess of revenue earned 14,543 (906) 13,637 Accumulated deficit (42,870) 655 (42,215) The impact of adoption on our consolidated statement of operations and balance sheet was as follows (in thousands): Income Statement For the three months ended March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Revenue $ 22,895 $ 22,852 $ 43 Gross profit 4,898 4,855 43 Provision for income taxes 259 231 (28) Net loss (1,496) (1,511) 15 Balance Sheet March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Contract receivables, net $ 18,757 $ 18,874 $ (117) Deferred tax assets 6,336 6,605 (269) Billings in excess of revenue earned 12,592 13,648 (1,056) Accumulated deficit (43,711) (44,381) 670

Basic and Diluted Earnings (L29

Basic and Diluted Earnings (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Basic and Diluted Earnings (Loss) Per Common Share [Abstract]
Number of Common Shares and Common Share Equivalents Used in the Determination of Basic and Diluted Income (Loss) per Share	The number of common shares and common share equivalents used in the determination of basic and diluted loss per share were as follows: (in thousands, except for share amounts) Three months ended March 31, 2018 2017 Numerator: Net loss $ (1,496) $ (266) Denominator: Weighted-average shares outstanding for basic loss per share 19,514,385 19,094,382 Effect of dilutive securities: Stock options and restricted stock units - - Adjusted weighted-average shares outstanding and assumed conversions for diluted loss per share 19,514,385 19,094,382 Shares related to dilutive securities excluded because inclusion would be anti-dilutive 763,200 564,833

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2018
Acquisition - Absolute [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the consideration paid to acquire Absolute and the fair value of the assets acquired and liabilities assumed at the date of the transaction. (in thousands) Total purchase price $ 9,521 Purchase price allocation: Cash $ 455 Contract receivables 5,121 Prepaid expenses and other current assets 68 Property, and equipment, net 184 Intangible assets 2,569 Accounts payable, accrued expenses, and other liabilities (78) Accrued compensation (1,617) Total identifiable net assets 6,702 Goodwill 2,819 Net assets acquired $ 9,521
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The Company identified $2.6 million of other intangible assets, including customer relationships and trademarks/names, with amortization periods of three to 10 years. The following table summarizes the fair value of intangible assets acquired at the date of acquisition and the related weighted average amortization period: Intangible Assets Weighted average amortization period Fair Value (in years) (in thousands) Customer relationships 10 $ 1,856 Trademarks/Names 3 713 Total $ 2,569

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following tables summarize the restructuring costs and restructuring liabilities: ( in thousands March 31, 2018 Total Expected Costs Costs Incurred to Date Expected Costs Remaining Employee termination benefits $ 736 $ 729 $ 7 Lease termination costs 555 519 36 Assets write-offs/impairment 222 222 - Other restructuring costs 272 180 92 Total Restructuring costs $ 1,785 $ 1,650 $ 135 The restructuring costs related to our Performance Improvement Solutions segment and are included in the consolidated statement of operations within the "Restructuring charges" line caption.
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Employee termination benefits Lease termination costs Other Restructuring costs Total Balance as of January 1, 2018 $ 465 $ - $ 33 $ 498 Accruals 264 519 134 917 Payments (406) - (5) (411) Currency translation and other adjustments 1 119 - 120 Balance as of March 31, 2018 $ 324 $ 638 $ 162 $ 1,124 The accrued employee termination benefits were included in "accrued compensation" line, and the accrued lease termination costs and other restructuring costs were included in "accrued expenses" in the consolidated balance sheets.

Contract Receivables (Tables)

Contract Receivables (Tables)	3 Months Ended
	Mar. 31, 2018
Contract Receivables [Abstract]
Components of Contract Receivables	The components of contract receivables are as follows: (in thousands) March 31, December 31, 2018 2017 Billed receivables $ 10,823 $ 8,154 Unbilled receivables 8,071 5,980 Allowance for doubtful accounts (137) (137) Total contract receivables, net $ 18,757 $ 13,997

Prepaid Expenses and Other Cu33

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Prepaid Expenses and Other Current Assets [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: (in thousands) March 31, December 31, 2018 2017 Inventory $ 733 $ 755 Income taxes receivable 363 418 Prepaid expenses 628 549 Other current assets 956 1,073 Total prepaid expenses and other current assets $ 2,680 $ 2,795

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value of Financial Instruments [Abstract]
Assets and Liabilities Measured at Fair Value	The following table presents assets and liabilities measured at fair value at March 31, 2018: (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Money market funds $ 2,780 $ - $ - $ 2,780 Foreign exchange contracts - 83 - 83 Total assets $ 2,780 $ 83 $ - $ 2,863 Liability awards - (272) - (272) Total liabilities $ - $ (272) $ - $ (272) Money market funds at both March 31, 2018 and December 31, 2017 are included in cash and cash equivalents in the respective consolidated balance sheets. The following table presents assets and liabilities measured at fair value at December 31, 2017: (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Money market funds $ 3,240 $ - $ - $ 3,240 Foreign exchange contracts - 201 - 201 Total assets $ 3,240 $ 201 $ - $ 3,441 Liability awards - (242) - (242) Contingent consideration - - (1,701) (1,701) Total liabilities $ - $ (242) $ (1,701) $ (1,943)
Rollforward of Fair Value of Contingent Consideration as Level 3	The following table provides a roll-forward of the fair value of the contingent consideration categorized as Level 3 for the three months ended March 31, 2018: (in thousands) Balance, January 1, 2018 $ 1,701 Payments made on contingent liabilities (1,701) Change in fair value - Balance, March 31, 2018 $ -

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments [Abstract]
Estimated Fair Value of the Contracts in the Consolidated Balance Sheets	The Company has not designated the foreign exchange contracts as hedges and recorded the estimated net fair values of the contracts on the consolidated balance sheets as follows: March 31, December 31, (in thousands) 2018 2017 Asset derivatives Prepaid expenses and other current assets $ 83 $ 201 Net fair value $ 83 $ 201
Net (Loss) Gain on Derivative Instruments	For the three months ended March 31, 2018 and 2017, the Company recognized a net loss on its derivative instruments as outlined below: Three months ended March 31, (in thousands) 2018 2017 Foreign exchange contracts - change in fair value $ (118) $ (86) Remeasurement of related contract receivables, and billings in excess of revenue earned (38) (74) Loss on derivative instruments, net $ (156) $ (160)

Product Warranty (Tables)

Product Warranty (Tables)	3 Months Ended
	Mar. 31, 2018
Product Warranty [Abstract]
Activities in the Product Warranty Accounts	The Company accrues for estimated warranty costs at the time the related revenue is recognized based on historical experience and projected claims. The Company's SDB contracts generally provide a one to two-year base warranty on the systems. The portion of the warranty provision expected to be incurred within 12 months is classified as current within accrued warranty and totals $1.2 million, while the remaining $0.7 million is classified as long-term within other liabilities. The activity in the accrued warranty accounts is as follows: (in thousands) Balance, January 1, 2018 $ 1,953 Current period provision 28 Current period claims (103) Currency adjustment 5 Balance at March 31, 2018 $ 1,883

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table represents a disaggregation of revenue by type of goods or services for the three months ended March 31, 2018 and 2017, along with the reportable segment for each category: ( in thousands Three Months Ended March 31, 2018 2017 (1) Performance Improvement Solutions System Design and Build $ 7,495 $ 7,319 Software 869 456 Training and Consulting Services 1,537 1,895 Nuclear Industry Training and Consulting Training and Consulting Services 12,994 6,672 Total revenue $ 22,895 $ 16,342 (1)
Contract with Customer, Asset and Liability [Table Text Block]	SDB contracts are typically fixed-priced, and we receive payments based on a billing schedule as established in our contracts. The transaction price for software contracts is generally fixed. Fees for software are normally due in advance of or shortly after delivery of the software. Fees for PCS are normally paid in advance of the service period. For Training and Consulting Services, the customers are generally billed on a regular basis, such as weekly, biweekly or monthly, for services provided. Contract liability, which we classify as billing in excess of revenue earned, relates to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as performance obligations are satisfied. The following table reflects the balance of contract liabilities and the revenue recognized in the reporting period that was included in the contract liabilities from contracts with customers: ( in thousands March 31, 2018 December 31, 2017 Billings in excess of revenue earned (BIE) $ 12,592 $ 14,543 Revenue recognized in the period from amounts included in BIE at the beginning of the period $ 5,115 N/A For an SDB contract, we generally have two main performance obligations: the training simulator build and PCS. The training simulator build generally includes hardware, software, and labor. We recognize the training simulator build revenue over the construction and installation period using the cost-to-cost input method. In applying the cost-to-cost input method, we use the actual costs incurred to date relative to the total estimated costs to measure the work progress toward the completion of the performance obligation and recognize revenue accordingly. Estimated contract costs are reviewed and revised periodically as the work progresses, and the cumulative effect of any change in estimates is recognized in the period in which the change is identified. Estimated losses are recognized in the period such losses are identified. Uncertainties inherent in the performance of contracts include labor availability and productivity, material costs, change order scope and pricing, software modification and customer acceptance issues. The reliability of these cost estimates is critical to the Company's revenue recognition as a significant change in the estimates can cause the Company's revenue and related margins to change significantly from the amounts estimated in the early stages of the project. For the three months ended March 31, 2018, the Company did not recognize significant revenue related to performance obligations satisfied in previous periods.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Schedule of Income Taxes	The following table presents the provision for income taxes and the effective tax rates: Three months ended March 31, ($ in thousands) 2018 2017 Provision for income taxes $ 259 $ 73 Effective tax rate (20.9%) (37.8%)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Information [Abstract]
Reconciliation of Revenue and Operating Results to Consolidated Income (Loss) Before Income Tax Expense	The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated loss before income taxes: (in thousands) Three months ended March 31, 2018 2017 Revenue: Performance Improvement Solutions $ 9,901 $ 9,670 Nuclear Industry Training and Consulting 12,994 6,672 $ 22,895 $ 16,342 Operating income: Performance Improvement Solutions $ (790) $ (110) Nuclear Industry Training and Consulting (338) 307 Change in fair value of contingent consideration, net - (254) Operating loss (1,128) (57) Interest income, net 22 27 Loss on derivative instruments, net (156) (160) Other income (expense), net 25 (3) Loss before income taxes $ (1,237) $ (193) Effective January 2018, and due to the acquisition of Absolute, the Performance Improvement Solutions allocated corporate overhead to the Nuclear Industry Training and Consulting segment. For the three months ended March 31, 2018 and 2017, a total of $1.2 million and $0.6 million of corporate overhead, respectively, was allocated to Nuclear Industry Training and Consulting segment. Prior period amounts were reclassified to reflect the change.

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2018Segment
Summary of Significant Accounting Policies [Abstract]
Number of reportable segment	2
Term of warranty - min	1 year
Term of Warranty - max	2 years
Revenue [Member] | Performance Improvement Solutions [Member]
Revenue by major customers [Abstract]
Percentage of revenue contributed by major customers	43.00%
Revenue [Member] | Nuclear Industry Training and Consulting [Member]
Revenue by major customers [Abstract]
Percentage of revenue contributed by major customers	57.00%

Recent Accounting Pronounceme41

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract receivables, net	$ 18,757		$ 13,997
Deferred tax assets	6,336		7,167	$ 7,167
Billings in excess of revenue earned	12,592		14,543
Accumulated Deficit	(43,711)		(42,870)
Contracts Revenue	22,895	$ 16,342
Gross Profit	4,898	4,122
(Benefit) provision for income taxes	259	73
Net Income (Loss) Attributable to Parent	(1,496)	(266)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	0	$ 254
Restatement Adjustment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract receivables, net			13,987
Deferred tax assets			6,926
Billings in excess of revenue earned			13,637
Accumulated Deficit			(42,215)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract receivables, net	(117)		(10)
Deferred tax assets	(269)		(241)
Billings in excess of revenue earned	(1,056)		(906)
Accumulated Deficit	670		$ 655
Contracts Revenue	43
Gross Profit	43
(Benefit) provision for income taxes	(28)
Net Income (Loss) Attributable to Parent	15
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract receivables, net	18,874
Deferred tax assets	6,605
Billings in excess of revenue earned	13,648
Accumulated Deficit	(44,381)
Contracts Revenue	22,852
Gross Profit	4,855
(Benefit) provision for income taxes	231
Net Income (Loss) Attributable to Parent	$ (1,511)

Basic and Diluted Earnings (L42

Basic and Diluted Earnings (Loss) Per Common Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator [Abstract]
Net loss	$ (1,496)	$ (266)
Denominator [Abstract]
Weighted-average shares outstanding for basic earnings per share (in shares)	19,514,385	19,094,382
Effect of dilutive securities [Abstract]
Stock options and restricted stock units (in shares)	0	0
Adjusted weighted-average shares outstanding and assumed conversions for diluted income (loss) per share (in shares)	19,514,385	19,094,382
Shares related to dilutive securities excluded because inclusion would be anti-dilutive (in shares)	763,200	564,833

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 20, 2017	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Cash consideration before working capital adj		$ 8,750
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill			$ 8,431	$ 8,431
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired		2,569
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired		$ 1,856
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired		$ 713
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		3 years
Absolute Consulting, Inc. [Member]
Business Acquisition [Line Items]
Percentage of ownership interest acquired		100.00%
Business Acquisition, Name of Acquired Entity	Absolute Consulting, Inc.
Business Acquisition, Effective Date of Acquisition		Sep. 20, 2017
Cash purchase price		$ 9,521
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Cash		455
Contract receivables		5,121
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		68
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment		184
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		2,569
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(78)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		(1,617)
Identifiable Net assets acquired		6,702
Goodwill		2,819
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total		9,521
Business Combination, Acquired Receivables [Abstract]
Business Combination, Acquired Receivable, Fair Value		5,121
Business Combination, Acquired Receivables, Gross Contractual Amount		5,121
Business Combination, Acquired Receivables, Estimated Uncollectible		0
Business Acquisition, Goodwill, Expected Tax Deductible Amount		2,819
Cash consideration in escrow		$ 1,000

Restructuring Activities (Detai

Restructuring Activities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Position	Mar. 31, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated | Position	40
Restructuring and Related Cost, Expected Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	$ 1,650
Restructuring and Related Cost, Expected Cost Remaining	135
Restructuring and Related Cost, Expected Cost, Total	1,785
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	498
Restructuring charges	917	$ 45
Payments for Restructuring	(411)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	120
Restructuring Reserve, Ending Balance	1,124
Employee Severance [Member]
Restructuring and Related Cost, Expected Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	729
Restructuring and Related Cost, Expected Cost Remaining	7
Restructuring and Related Cost, Expected Cost, Total	736
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	465
Restructuring charges	264
Payments for Restructuring	(406)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	1
Restructuring Reserve, Ending Balance	324
Contract Termination [Member]
Restructuring and Related Cost, Expected Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	519
Restructuring and Related Cost, Expected Cost Remaining	36
Restructuring and Related Cost, Expected Cost, Total	555
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Restructuring charges	519
Payments for Restructuring	0
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	119
Restructuring Reserve, Ending Balance	638
Other Restructuring [Member]
Restructuring and Related Cost, Expected Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	180
Restructuring and Related Cost, Expected Cost Remaining	92
Restructuring and Related Cost, Expected Cost, Total	272
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	33
Restructuring charges	134
Payments for Restructuring	(5)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	0
Restructuring Reserve, Ending Balance	162
Assets Write-off [Member]
Restructuring and Related Cost, Expected Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	222
Restructuring and Related Cost, Expected Cost Remaining	0
Restructuring and Related Cost, Expected Cost, Total	$ 222

Contingent Consideration (Detai

Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Contingent Consideration [Abstract]
Contingent consideration accrued, current	$ 0		$ 1,701
Payments on contingent consideration	$ (1,701)	$ (597)

Contract Receivables (Details)

Contract Receivables (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2017USD ($)	Mar. 31, 2018USD ($)Customer	Dec. 31, 2016	Dec. 31, 2017USD ($)Customer
Contract Receivables [Abstract]
Maximum term of contract receivables		12 months
Components of contract receivables [Abstract]
Billed receivables		$ 10,823		$ 8,154
Unbilled receivables		8,071		5,980
Allowance for doubtful accounts		(137)		(137)
Total contract receivables, net		$ 18,757		$ 13,997
Unbilled contract receivables billed during Oct 2017	$ 2,800
Contract Receivable [Member]
Concentration Risk [Line Items]
Number of customers accounting for contract receivables | Customer		1		1
Percentage of contract receivables accounted by major customers		25.80%	26.70%
Reorganizations [Abstract]
Percentage of accounts receivable, unbilled receivables, and billings in excess reserved		25.80%	26.70%

Prepaid Expenses and Other Cu47

Prepaid Expenses and Other Current Assets (Details) $ in Thousands	Mar. 31, 2018USD ($)Project	Dec. 31, 2017USD ($)
Prepaid Expenses and Other Current Assets [Abstract]
Inventory	$ 733	$ 755
Income tax receivable	363	418
Prepaid expenses	628	549
Other current assets	956	1,073
Total prepaid expenses and other current assets	$ 2,680	$ 2,795
Number of projects | Project	3

Software Development Costs (Det

Software Development Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Software Development Costs [Abstract]
Economic life of product	3 years
Additions	$ 105	$ 29
Capitalized software amortization	$ 118	$ 117

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)
Goodwill and Intangible Assets [Abstract]
Number of operating segments | Segment	2
Goodwill | $	$ 8,431	$ 8,431

Fair Value of Financial Instr50

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Assets and liabilities measured at fair value [Abstract]
Money market funds	$ 2,780		$ 3,240
Foreign exchange contracts - Assets	83		201
Total assets	2,863		3,441
Liability awards	(272)		(242)
Contingent consideration			(1,701)
Total liabilities	(272)		(1,943)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, January 1, 2017	1,701
Payments made on contingent liabilities	(1,701)
Change in fair value	0	$ (254)
Balance, March 31, 2017	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets and liabilities measured at fair value [Abstract]
Money market funds	2,780		3,240
Foreign exchange contracts - Assets	0		0
Total assets	2,780		3,240
Contingent consideration			0
Total liabilities	0		0
Significant Other Observable Inputs (Level 2) [Member]
Assets and liabilities measured at fair value [Abstract]
Money market funds	0		0
Foreign exchange contracts - Assets	83		201
Total assets	83		201
Liability awards	(272)		(242)
Contingent consideration			0
Total liabilities	(272)		(242)
Significant Unobservable Inputs (Level 3) [Member]
Assets and liabilities measured at fair value [Abstract]
Money market funds	0		0
Foreign exchange contracts - Assets	0		0
Total assets	0		0
Contingent consideration			(1,701)
Total liabilities	$ 0		$ (1,701)

Derivative Instruments, Foreign

Derivative Instruments, Foreign Exchange Contracts (Details) - Foreign Exchange Contract [Member] ¥ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018JPY (¥)	Mar. 31, 2018AUD ($)	Dec. 31, 2016JPY (¥)	Dec. 31, 2016EUR (€)	Dec. 31, 2016AUD ($)
Derivative [Line Items]
Foreign exchange contract outstanding	¥ 162.5	$ 0.2	¥ 162.5	€ 24,000	$ 0.2
Expiration date of contract	Dec. 31, 2018

Derivative Instruments, Fair Va

Derivative Instruments, Fair Values Derivatives, Balance Sheet Location (Details) - Foreign Exchange Contract [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Estimated fair value of the contracts in the consolidated balance sheets [Abstract]
Asset derivatives	$ 83	$ 201
Liability derivatives	272	242
Net fair value	355	443
Prepaid Expenses and Other Current Assets [Member]
Estimated fair value of the contracts in the consolidated balance sheets [Abstract]
Asset derivatives	$ 83	$ 201

Derivative Instruments, Gain (L

Derivative Instruments, Gain (Loss) On Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative, Gain (Loss) on Derivative, Net [Abstract]
Foreign exchange contracts- change in fair value	$ (118)	$ (86)
Remeasurement of related contract receivables, billings in excess of revenue earned, and subcontractor accruals	(38)	(74)
(Loss) gain on derivative instruments, net	$ (156)	$ (160)

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	3 Months Ended
	Mar. 31, 2018USD ($)Quartershares	Mar. 31, 2017USD ($)Quartershares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 595,000	$ 614,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 32,000	$ (18,000)
Granted time-based RSUs (in shares) | shares	210,092	223,802
Aggregate fair value for time-based RSUs	$ 682,799	$ 783,000
Number of quarters RSU's will vest quarterly | Quarter	8	8
Period in which RSU's will vest annually in equal amounts	3 years	3 years

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Letter	May 11, 2018USD ($)	Dec. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Principal amount of the line of credit		$ 5
Citizen's Bank [Member]
Line of Credit Facility [Line Items]
Number of letters of credit | Letter	2
Citizen's Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility term	3 years
Principal amount of the line of credit	$ 5
Percentage of letter of credit fees per annum	1.25%
Percentage of borrowing base equal to eligible accounts receivable	80.00%
Outstanding letter of credit balance	$ 0
Number of letters of credit | Letter	2
Letters of credit, amount outstanding	$ 0.7
Line of credit facility, remaining borrowing capacity	$ 4.3
Citizen's Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.25%
BB&T Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Number of letters of credit | Letter	2
Letters of credit, amount outstanding	$ 0.6
Restricted cash and cash equivalents	$ 0.6		$ 1

Product Warranty (Details)

Product Warranty (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Product warranty provision [Abstract]
Warranty terms for SDB contracts - Min	1 year
Warranty terms for SDB contracts - Max	2 years
Accrued warranty, current	$ 1,186
Accrued warranty, noncurrent	697
Activities in product warranty account [Abstract]
Balance, January 1, 2017	1,953
Warranty provision	28
Warranty claims	(103)
Currency adjustment	5
Balance, March 31, 2017	$ 1,883

Revenue (Details)

Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 22,895,000	$ 16,342,000
Revenue, Remaining Performance Obligation	$ 35,570,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Contract with Customer, Asset and Liability [Abstract]
Contract with Customer, Liability, Current	$ 12,592,000		$ 14,543,000
Contract with Customer, Liability, Revenue Recognized	5,115,000
Contract with Customer, Performance Obligation Satisfied in Previous Period	0
Performance Improvement Solutions [Member] | System Design and Build [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	7,495,000	7,319,000
Performance Improvement Solutions [Member] | Software [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	869,000	456,000
Performance Improvement Solutions [Member] | Training and Consulting Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,537,000	1,895,000
Nuclear Industry Training and Consulting [Member] | Training and Consulting Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 12,994,000	$ 6,672,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes [Abstract]
(Benefit) provision for income taxes	$ 259	$ 73
Effective tax rate	(20.90%)	(37.80%)
Minimum [Member]
Income Tax Examination [Line Items]
Probability of uncertain tax position to be recognized	50.00%
Percentage of tax position realized upon ultimate settlement	50.00%
Sweden [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	2,011
China [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	2,014
India [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	2,015
UK [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	2,015
Federal [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	1,997
State [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income tax examination, year under examination	1,997

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable business segments | Segment	2
Corporate charge allocated to Training segment	$ 1,174	$ 628
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	22,895	16,342
Change in fair value of contingent consideration, net	0	(254)
Operating income (loss)	(1,128)	(57)
Interest income, net	22	27
Loss on derivative instruments, net	(156)	(160)
Other income (expense), net	25	(3)
Income (loss) before income taxes	(1,237)	(193)
Performance Improvement Solutions [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	9,901	9,670
Operating income (loss)	(790)	(110)
Nuclear Industry Training and Consulting [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	12,994	6,672
Operating income (loss)	$ (338)	$ 307
Maximum [Member]
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Contract term	2 years

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	May 11, 2018USD ($)Employees	Dec. 31, 2017USD ($)
Subsequent Event [Line Items]
Percentage of revenue from nuclear industry		85.00%
Business Combination, Consideration Transferred, Liabilities Incurred	$ 10.3
Line of Credit Facility, Expiration Period	5 years
Principal amount of the line of credit	$ 5
Long-term Debt, Gross	25
True North [Member]
Subsequent Event [Line Items]
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period		$ 11
Cash purchase price	9.8
Cash consideration in escrow	1.5
Cash Payment to sellers on acquisition date	$ 8.3
Number of employees of the acquiree | Employees	60
Maximum [Member]
Subsequent Event [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	27500.00%
Minimum [Member]
Subsequent Event [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	20000.00%

Uncategorized Items - gvp-20180

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 22,887,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 20,071,000