0001493152-19-012002.txt : 20190809 0001493152-19-012002.hdr.sgml : 20190809 20190809170128 ACCESSION NUMBER: 0001493152-19-012002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 68 CONFORMED PERIOD OF REPORT: 20190630 FILED AS OF DATE: 20190809 DATE AS OF CHANGE: 20190809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Tecnoglass Inc. CENTRAL INDEX KEY: 0001534675 STANDARD INDUSTRIAL CLASSIFICATION: FLAT GLASS [3211] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-35436 FILM NUMBER: 191013652 BUSINESS ADDRESS: STREET 1: AVENIDA CIRCUNVALAR A 100 MTS DE LA VIA CITY: BARRIO LAS FLORES BARRANQUILLA STATE: F8 ZIP: XXXXX BUSINESS PHONE: 57 1 281 1811 MAIL ADDRESS: STREET 1: AVENIDA CIRCUNVALAR A 100 MTS DE LA VIA CITY: BARRIO LAS FLORES BARRANQUILLA STATE: F8 ZIP: XXXXX FORMER COMPANY: FORMER CONFORMED NAME: Andina Acquisition Corp DATE OF NAME CHANGE: 20111110 10-Q 1 form10-q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(MARK ONE)

[X]

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2019

[ ]

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 001-35436

TECNOGLASS INC.

(Exact Name of Registrant as Specified in Its Charter)

Cayman Islands

98-1271120

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

Avenida Circunvalar a 100 mts de la Via 40, Barrio Las Flores Barranquilla, Colombia

(Address of principal executive offices)

(57)(5) 3734000

(Issuer’s telephone number)

N/A

(Former name, former address and former fiscal year, if changed since last report):

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Ordinary Shares, par value $0.0001 per share		TGLS		The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	[ ]	Accelerated filer	[X]

Non-accelerated filer	[ ]	Smaller reporting company	[X]
(Do not check if smaller reporting company)

		Emerging growth company	[ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 44,858,442 ordinary shares as of June 30, 2019.

TECNOGLASS INC.

FORM 10-Q FOR THE PERIOD ENDED JUNE 30, 2019

TABLE OF CONTENTS

		Page
Part I. Financial Information		3
	Item 1. Financial Statements (Unaudited)	3
	Condensed Consolidated Balance Sheets	3
	Condensed Consolidated Statements of Operations and Comprehensive Income	4
	Condensed Consolidated Statements of Cash Flows	5
	Condensed Consolidated Statements of Shareholders’ Equity	6
	Notes to Condensed Consolidated Financial Statements	7

	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

	Item 3. Quantitative and Qualitative Disclosures About Market Risk	23

	Item 4. Controls and Procedures	23

Part II. Other Information		24
	Item 1. Legal Proceedings	24

	Item 6. Exhibits	24
Signatures		25

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

Tecnoglass Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data)

(Unaudited)

	June 30, 2019			December 31, 2018
ASSETS
Current assets:
Cash and cash equivalents	$	47,638		$	33,040
Investments		2,336			1,163
Trade accounts receivable, net		110,661			92,791
Due from related parties		9,396			8,239
Inventories		90,906			91,849
Contract assets – current portion		50,580			46,018
Other current assets		21,773			20,299
Total current assets	$	333,290		$	293,399

Long term assets:
Property, plant and equipment, net	$	155,900		$	149,199
Deferred income taxes		3,260			4,770
Contract assets – non-current		8,601			6,986
Intangible Assets		7,731			9,006
Goodwill		23,561			23,561
Long term investments		44,978			-
Other long term assets		3,170			2,853
Total long term assets		247,201			196,375
Total assets	$	580,491		$	489,774

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt	$	12,223		$	21,606
Trade accounts payable and accrued expenses		79,092			65,510
Accrued interest expense		7,768			7,567
Due to related parties		4,335			1,500
Dividends payable		1,379			736
Contract liability – current portion		14,013			16,789
Due to equity partners		10,900			-
Other current liabilities		8,579			8,887
Total current liabilities	$	138,289		$	122,595

Long term liabilities:
Deferred income taxes	$	689		$	2,706
Long Term Payable associated to GM&P acquisition		8,500			8,500
Long term receivables from related parties		611			600
Contract liability – non-current		564			1,436
Long term debt		250,234			220,709
Total Long Term Liabilities		260,598			233,951
Total liabilities	$	398,887		$	356,546
COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2019 and December 31, 2018 respectively	$	-		$	-
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 44,858,442 and 38,092,996 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively		4			4
Legal Reserves		1,367			1,367
Additional paid-in capital		203,660			157,604
Retained earnings		12,867			10,439
Accumulated other comprehensive (loss)		(37,340	)		(37,058	)
Shareholders’ equity attributable to controlling interest		180,558			132,356
Shareholders’ equity attributable to non-controlling interest		1,046			872
Total shareholders’ equity		181,604			133,228
Total liabilities and shareholders’ equity	$	580,491		$	489,774

The accompanying notes are an integral part of these condensed consolidated financial statements.

Tecnoglass Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Other Comprehensive Income

(In thousands, except share and per share data)

(Unaudited)

	Three months ended June 30,						Six months ended June 30,
	2019			2018				2019			2018
Operating revenues:
External customers	$	112,259		$	87,785			$	217,067		$	173,992
Related parties		1,624			1,184				3,984			2,137
Total operating revenues		113,883			88,969				221,051			176,129
Cost of sales		75,046			64,327				150,322			124,739
Gross Profit		38,837			24,642				70,729			51,390

Operating expenses:
Selling expense		(11,219	)		(8,567	)			(20,781	)		(17,704	)
General and administrative expense		(9,354	)		(8,453	)			(17,448	)		(16,074	)
Total Operating Expenses		(20,573	)		(17,020	)			(38,229	)		(33,778	)

Operating income		18,264			7,622				32,500			17,612

Non-operating income		353			709				628			1,808
Equity method income (loss)		(22	)		-				(22	)		-
Foreign currency transactions (losses) gains		(1,201	)		(8,307	)			2,085			1,666
Interest expense and deferred cost of financing		(5,757	)		(5,361	)			(11,344	)		(10,411	)

Income (loss) before taxes		11,637			(5,337	)			23,847			10,675

Income tax (provision) benefit		(3,977	)		1,467				(8,856	)		(3,926	)

Net income (loss)	$	7,660		$	(3,870	)		$	14,991		$	6,749

(Income) loss attributable to non-controlling interest		(181	)		212				(174	)		284

Income (loss) attributable to parent	$	7,479		$	(3,658	)		$	14,817		$	7,033

Comprehensive income:
Net income (loss)	$	7,660		$	(3,870	)		$	14,991		$	6,749
Foreign currency translation adjustments		(2,052	)		(6,139	)			(282	)		2,562

Total comprehensive income (loss)	$	5,608		$	(10,009	)		$	14,709		$	9,311
Comprehensive (income) loss attributable to non-controlling interest		(181	)		212				(174	)		284

Total comprehensive income (loss) attributable to parent	$	5,427		$	(9,797	)		$	14,535		$	9,595

Basic income (loss)per share	$	0.17		$	(0.10	)		$	0.35		$	0.18

Diluted income (loss) per share	$	0.17		$	(0.10	)		$	0.35		$	0.17

Basic weighted average common shares outstanding		44,840,263			38,200,792				42,254,672			38,135,096

Diluted weighted average common shares outstanding		45,603,939			38,200,792				43,018,348			38,898,772

The accompanying notes are an integral part of these condensed consolidated financial statements.

Tecnoglass Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Amounts in thousands)

(Unaudited)

	Six months ended June 30,
	2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	14,991		$	6,749
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for bad debts		524			(413	)
Provision for obsolete inventory		-			27
Depreciation and amortization		11,558			11,458
Deferred income taxes		(317	)		2,126
Director stock compensation		-			142
Equity method loss (income)		22			-
Other non-cash adjustments		836			679
Changes in operating assets and liabilities:
Trade accounts receivables		(16,836	)		(3,952	)
Inventories		2,078			(7,329	)
Prepaid expenses		(1,232	)		(425	)
Other assets		(1,279	)		(91	)
Trade accounts payable and accrued expenses		8,621			(2,274	)
Accrued interest expense		194			41
Taxes payable		(1,787	)		(10,617	)
Labor liabilities		(327	)		(114	)
Related parties		1,795			1,279
Contract assets and liabilities		(9,793	)		(3,735	)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	9,048		$	(6,449	)

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of investments		638			367
Acquisition of businesses		(34,100	)		(6,000	)
Purchase of investments		(676	)		(662	)
Acquisition of property and equipment		(13,778	)		(4,889	)
CASH USED IN INVESTING ACTIVITIES	$	(47,916	)	$	(11,184	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt		36,656			9,067
Cash dividend		(2,170	)		(1,359	)
Proceeds from equity offering		36,478			-
Repayments of debt		(17,661	)		(1,934	)
CASH PROVIDED BY FINANCING ACTIVITIES	$	53,303		$	5,774

Effect of exchange rate changes on cash and cash equivalents	$	163		$	861

NET INCREASE (DECREASE) IN CASH		14,598			(10,998	)
CASH - Beginning of period		33,040			40,923
CASH - End of period	$	47,638		$	29,925

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for:
Interest	$	9,529		$	9,074
Income Tax	$	8,369		$	5,517

NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt	$	1,389		$	703
Gain in extinguishment of GM&P payment settlement	$	-		$	3,606

The accompanying notes are an integral part of these condensed consolidated financial statements.

Tecnoglass Inc. and Subsidiaries

Condensed Consolidated Statements of Shareholders’ Equity

(Amounts in thousands, except share and per share data)

(Unaudited)

	Ordinary Shares, $0.0001 Par Value				Additional Paid in		Legal		Retained			Accumulated Other Comprehensive			Total Shareholders'			Non- Controlling			Total Shareholders' Equity and Non-Controlling
	Shares		Amount		Capital		Reserve		Earnings			Loss			Equity			Interest			Interest
Balance at December 31, 2018		38,092,996		4		157,604		1,367		10,439			(37,058	)		132,356			872			133,228

Issuance of common stock		5,000,000		-		33,050		-		-			-			33,050			-			33,050

Stock dividend		538,657		-		5,162		-		(6,109	)		-			(947	)		-			(947	)

Foreign currency translation		-		-		-		-		-			1,770			1,770			-			1,770

Net income		-		-		-		-		7,338			-			7,338			(7	)		7,331

Balance at March 31, 2019		43,631,653		4		195,816		1,367		11,668			(35,288	)		173,567			865			174,432

Issuance of common stock		551,423		-		3,428		-		-			-			3,428			-			3,428

Stock dividend		675,366		-		4,416		-		(6,280	)		-			(1,864	)		-			(1,864	)

Foreign currency translation		-		-		-		-		-			(2,052	)		(2,052	)		-			(2,052	)

Net income		-		-		-		-		7,479			-			7,479			181			7,660

Balance at June 30, 2019		44,858,442		4		203,660		1,367		12,867			(37,340	)		180,558			1,046			181,604

	Ordinary Shares, $0.0001 Par Value				Additional Paid in		Legal		Retained			Accumulated Other Comprehensive			Total Shareholders'			Non- Controlling			Total Shareholders' Equity and Non-Controlling
	Shares		Amount		Capital		Reserve		Earnings			Loss			Equity			Interest			Interest
Balance at December 31, 2017		34,836,575		3		125,317		1,367		22,212			(28,651	)		120,248			1,417			121,665

Issuance of common stock		4,564		-		34		-		-			-			34			-			34

Adoption ASC 606		-		-		-		-		(187	)		-			(187	)		-			(187	)

Stock dividend		499,080		1		4,128		-		(4,947	)		-			(818	)		-			(818	)

Foreign currency translation		-		-		-		-		-			8,701			8,701			-			8,701

Net income		-		-		-		-		10,691			-			10,691			(72	)		10,619

Balance at March 31, 2018		35,340,219		4		129,479		1,367		27,769			(19,950	)		138,669			1,345			140,014

Issuance of common stock		1,238,095		-		14,500		-		-			-			14,500			-			14,500

Adoption ASC 606		-		-		-		-		-			-			-			-			-

Stock dividend		463,355		-		4,396		-		(5,082	)		-			(686	)		-			(686	)

Foreign currency translation		-		-		-		-		-			(6,139	)		(6,139	)		-			(6,139	)

Net income		-		-		-		-		(3,658	)		-			(3,658	)		(212	)		(3,870	)

Balance at June 30, 2018		37,041,669		4		148,375		1,367		19,029			(26,089	)		142,686			1,133			143,819

The accompanying notes are an integral part of these condensed consolidated financial statements.

Tecnoglass Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(Amounts in thousands, except share and per share data)

Note 1. General

Business Description

Tecnoglass Inc., a Cayman Islands exempted company (the “Company”, “Tecnoglass,” “TGI,” “we, “ “us” or “our”) manufactures hi-specification, architectural glass and windows for the global residential and commercial construction industries. Currently the Company offers design, production, marketing, and installation of architectural systems for buildings of high, medium and low elevation size. Products include windows and doors in glass and aluminum, office partitions and interior divisions, floating facades and commercial window showcases. The Company exports most of its production to foreign countries, selling to customers in North, Central and South America.

The Company manufactures both glass and aluminum products. Its glass products include tempered glass, laminated glass, thermo-acoustic glass, curved glass, silk-screened glass, acoustic glass and digital print glass. Its Alutions plant produces mill finished, anodized, painted aluminum profiles and rods, tubes, bars and plates. Alutions’ operations include extrusion, smelting, painting and anodizing processes, and exporting, importing and marketing aluminum products.

The Company also designs, manufactures, markets and installs architectural systems for high, medium and low-rise construction, glass and aluminum windows and doors, office dividers and interiors, floating facades and commercial display windows.

Note 2. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Use of Estimates

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by US GAAP.

The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates inherent in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature.

The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.

Principles of Consolidation

These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”) and ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control.

Non-controlling interest

When the Company owns a majority of a subsidiary’s stock, the Company includes in its condensed consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Consolidated Balance Sheet, is equal to the non-controlling proportionate share of the subsidiary’s net assets.

Foreign Currency Translation

The unaudited condensed consolidated financial statements are presented in U.S. Dollars, the reporting currency. Some of our foreign subsidiaries’ local currency is the Colombian Peso, which is also their functional currency as determined by the analysis of markets, costs and expenses, assets, liabilities, financing and cash flow indicators. As such, our subsidiaries’ assets and liabilities are translated at the exchange rate in effect at the balance sheet date, with equity being translated at the historical rates. Revenues and expenses of our foreign subsidiaries are translated at the average exchange rates for the period. The resulting cumulative foreign currency translation adjustments from this process are included as a component of accumulated other comprehensive income (loss). Therefore, the U.S. Dollar value of these items in our financial statements fluctuates from period to period.

Also, exchange gains and losses arising from transactions denominated in a currency other than the functional currency are included in the Condensed Consolidated Statement of Operations as foreign exchange gains and losses.

Shipping and Handling Costs

The Company classifies amounts billed to customers related to shipping and handling as product revenues. The Company records and presents shipping and handling costs in selling expenses. Shipping and handling costs for the three months ended June 30, 2019 and 2018 were $4,714 and $3,764, respectively. Shipping and handling costs for the six months ended June 30, 2019 and 2018 were $9,024 and $8,496 respectively.

Dividends Payable

The company accounts for its dividend declared as a liability under ASC 480 - Distinguishing Liabilities from Equity since the shareholders have the option to elect cash or stock and reclassifies from dividend payable to additional paid-in capital when shareholders elect a stock dividend instead of cash. The dividend payable is not subject to re-measurement at each balance sheet date since the dividend is a fixed monetary amount known at inception and thus no change in fair value adjustment is necessary.

Recently Issued Accounting Pronouncements

In June 2016, FASB issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, (with early application permitted). During 2019, the FASB issued ASU 2019-04 and ASU 2019-05 with Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements.

New Accounting Standards Implemented

In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under ASU 2016-02, a lessee will recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 retains a distinction between finance leases (i.e. capital leases under current GAAP) and operating leases. The classification criteria for distinguishing between finance leases and operating leases will be substantially similar to the classification criteria for distinguishing between capital leases and operating leases under current GAAP. The amendments of this ASU are effective for reporting periods beginning after December 15, 2018, which for the Company is the fiscal year beginning January 1, 2019.

The Company did not adjust the comparative periods presented as the FASB provided entities the option to instead apply the provisions of the new leases guidance using the modified retrospective application approach. The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which allowed the company to not reassess our prior conclusions about lease identification, lease classification and direct costs. The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualified, primarily for certain equipment leases that are month-to-month leases. This means, for those leases, we did not recognize right-of-use assets or lease liabilities. We also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets.

We have identified and analyzed our lease portfolio and evaluated the new reporting and disclosure requirements of the new guidance, and our lease-related processes and internal controls. The adoption of this standard had no material impact to the Company’s financial statements, as, under prior guidance, we had recognized capital leases which correspond to the right-of-use asset and lease liability described under the new guidance. This standard does not have a significant impact on our liquidity or on our debt covenant compliance under our current agreements.

As of January 1, 2019, the Company had $378 finance lease right-of-use assets related to computing equipment and a lease liability for $380 on its Condensed Consolidated Balance Sheet. As of June 30, 2019, the Company had $682 finance lease right-of-use assets related to computing equipment and a lease liability for $650 on its Condensed Consolidated Balance Sheet. The lease agreements include terms to extend the lease, however the Company does not intend to extend its current leases. The weighted average remaining lease term approximates 2.8 years. The right-of-use assets are depreciated and interest expense from the lease liability are recorded on our Condensed Consolidated Statement of Operations.

Additionally, as of June 30, 2019 the Company had a commitment for $102 under operating leases related to short term apartment leases, installation equipment and computing equipment which expire during the current year that have not been capitalized due to their short-term nature. Rental expense from these leases is recognized on our Condensed Consolidated Income Statement as incurred. Finance lease costs, including amortization of the right-of-use assets and interest expense, short term lease cost, and related cashflows have not been material as of June 30, 2019.

Leases Accounting Policy

We determine if an arrangement is a lease at inception. We include finance lease right-of-use assets as part of property and equipment and the lease liability as part of our current portion of long-term debt and long-term debt on our Condensed Consolidated Balance Sheet. Leases considered short-term are not capitalized, given our election not to recognize right-of-use assets and lease liabilities arising from short-term leases, but instead considered operating leases and the resulting rental expense is recognized on our Condensed Consolidated Statement of Operations as incurred.

Finance lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

Note 3. – Long-term Investments

Saint-Gobain Joint Venture

On January 11, 2019, we entered into a joint venture agreement with Saint-Gobain, a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8% minority ownership interest in Vidrio Andino Holdings S.A.S (“Vidrio Andino”), a Colombia-based subsidiary of Compagnie de Saint-Gobain S.A. (“Saint-Gobain”). The purchase price for our interest in this entity was $45 million, of which $34.1 was paid in cash, and $10.9 million is to be paid with a piece of land near our existing facility in Barranquilla. The land will be contributed on our behalf by our Chief Executive Officer and Chief Operating Officer, José M. Daes and Christian T. Daes in exchange for cash or shares of the Company and subject to an external valuation to support an arm´s length transaction. The land will serve the purpose of developing a second float glass plant nearby our existing manufacturing facilities which we expect to carry significant efficiencies for us once it becomes operative. Vidrio Andino’s float glass plant located in the outskirts of Bogota, Colombia, has been one of our main suppliers of raw glass. We believe this transaction will solidify our vertical integration strategy by acquiring an interest in the first stage of our production chain, while securing ample glass supply for our expected production needs.

On May 3, 2019, we consummated the joint venture agreement acquiring a 25.8% minority ownership interest in Vidrio Andino with a cash payment of $34.1 million, and the land still to be contributed by January 2020, as per the agreement. As of that date the Company recorded the investment within Long-term assets on the Company’s Condensed Consolidated Balance Sheet for $45.0 million and a liability for $10.9 million within current liabilities on the Company’s Condensed Consolidated Balance to be settled with the contribution of the aforementioned piece of land. Since the date of the acquisition, we have recognized the proportional share of Vidrio Andino’s net income using the equity method on the Condensed Consolidated Statement of Operations and Other Comprehensive Income as the Company is deemed to have significant influence, but does not have effective control of Vidrio Andino.

Establishment of a new subsidiary

In April 2019, ESMetals, a Colombian entity in which the Company has 70% equity interest began operations. ESMetals serves as a metalwork contractor to supply the Company with steel accessories used in the assembly of certain architectural systems as part of our vertical integration strategy. When the company owns a majority (but less than 100%) of a subsidiary’s stock, the Company includes in its Consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling interests’ proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Condensed Consolidated Balance Sheet, is equal to the non-controlling interests’ proportionate share of the subsidiary’s net assets. In determining the fair value we used the income approach and the market approach which was performed by third party valuation specialists under management.

Note 4. - Inventories, net

	June 30, 2019			December 31, 2018
Raw materials	$	52,019		$	43,744
Work in process		28,283			25,957
Finished goods		2,023			14,251
Stores and spares		7,669			7,437
Packing material		999			540
		90,993			91,929
Less: Inventory allowance		(87	)		(80	)
	$	90,906		$	91,849

Note 5. – Revenues, Contract Assets and Contract Liabilities

Disaggregation of Total Net Sales

The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows.

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Fixed price contracts	$	46,721	$	37,814	$	88,897	$	80,030
Product sales		67,162		51,155		132,154		96,099
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

The following table presents geographical information about revenues.

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Colombia	$	12,165	$	15,557	$	25,153	$	37,381
United States		99,326		69,852		191,360		132,845
Panama		913		1,043		1,676		1,857
Other		1,479		2,517		2,862		4,046
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

Contract Assets and Liabilities

Contract assets represent accumulated incurred costs and earned profits on contracts with customers that have been recorded as sales, but have not been billed to customers and are classified as current and a portion of the amounts billed on certain fixed price contracts that are withheld by the customer as a retainage until a final good receipt of the complete project to the customers satisfaction. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue, and represent amounts received in excess of sales recognized on contracts. The Company classifies advance payments and billings in excess of costs incurred as current, and deferred revenue as current or non-current based on the expected timing of sales recognition. Contract assets and contract liabilities are determined on a contract by contract basis at the end of each reporting period. The non-current portion of contract liabilities is included in other liabilities in the Company’s consolidated balance sheets.

The table below presents the components of net contract assets (liabilities).

	June 30, 2019			December 31, 2018
Contract assets — current	$	50,580		$	46,018
Contract assets — non-current		8,601			6,986
Contract liabilities — current		(14,013	)		(16,789	)
Contract liabilities — non-current		(564	)		(1,436	)
Net contract assets	$	44,604		$	34,779

The components of contract assets are presented in the table below.

	June 30, 2019		December 31, 2018
Unbilled contract receivables, gross	$	27,644	$	21,703
Retainage		31,537		31,301
Total contract assets		59,181		53,004
Less: current portion		50,580		46,018
Contract Assets – non-current	$	8,601	$	6,986

The components of contract liabilities are presented in the table below.

	June 30, 2019		December 31, 2018
Billings in excess of costs	$	3,101		4,393
Advances from customers on uncompleted contracts		11,476		13,832
Total contract liabilties		14,577		18,225
Less: current portion		14,013		16,789
Contract liabilities – non-current	$	564		1,436

During the three months and six months ended June 30, 2019, the Company recognized $4,041 and $1,759 of sales related to its contract liabilities at January 1, 2019, respectively. During the three and six months ended June 30, 2018, the Company recognized $2,306 and $1,086 of sales related to its contract liabilities at January 1, 2018, respectively.

Remaining Performance Obligations

As of June 30, 2019, the Company had $285.9 million of remaining performance obligations, which represents the transaction price of firm orders minus sales recognized from inception to date. Remaining performance obligations exclude unexercised contract options, verbal commitments and potential orders under basic ordering agreements. The Company expects to recognize 100% of sales relating to existing performance obligations within three years, of which $145.6 million are expected to be recognized during the year ending December 31, 2019, $115.5 million during the year ending December 31, 2020 and $24.9 million thereafter.

Note 6. Intangible Assets

Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane- resistant glass in Florida. Also, it includes the intangibles acquired from the acquisition of GM&P.

	June 30, 2019
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(457	)	$	523
Notice of Acceptances (NOAs), product designs and other intellectual property		10,870		(5,822	)		5,048
Non-compete Agreement		165		(77	)		88
Customer Relationships		4,140		(2,069	)		2,071
Total	$	16,155	$	(8,425	)	$	7,730

	December 31, 2018
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(359	)	$	621
Notice of Acceptances (NOAs), product designs and other intellectual property		10,881		(5,373	)		5,508
Non-compete Agreement		165		(60	)		105
Contract Backlog		3,090		(2,832	)		258
Customer Relationships		4,140		(1,626	)		2,514
Total	$	19,256	$	(10,250	)	$	9,006

The weighted average amortization period is 5.4 years.

During the six months ended June 30, 2019 and 2018, the amortization expense amounted to $1,485 and $1,776, respectively, and was included within the general and administration expenses in our Condensed Consolidated Statement of Operations. Similarly, amortization expense for the three months ended June 30, 2019 and 2018 amounted to $609 and $891, respectively.

The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2019 is as follows:

Year ending	(in thousands)
2019	$	1,154
2020		2,180
2021		2,150
2022		1,270
2023		789
Thereafter		187
	$	7,730

Note 7. Debt

The Company’s debt is comprised of the following:

	June 30, 2019			December 31, 2018
Revolving lines of credit	$	9,788		$	19,146
Finance lease		650			380
Unsecured senior note		210,000			210,000
Other loans		16,641			17,804
Syndicated loan		30,000			-
Less: Deferred cost of financing		(4,622	)		(5,015	)
Total obligations under borrowing arrangements		262,457			242,315
Less: Current portion of long-term debt and other current borrowings		12,223			21,606
Long-term debt	$	250,234		$	220,709

As of June 30, 2019, and December 31, 2018, the Company had $261,730 and $242,106 of debt denominated in US Dollars with the remaining amounts denominated in Colombian Pesos.

The Company had $5,070 and $5,037 of property, plant and equipment pledged as collateral for various lines of credit as of June 30, 2019 and December 31, 2018, respectively.

On May 2, 2019, the Company closed a $30 million five-year term debt facility with Banco de Crédito del Perú and Banco Sabadell which bears interest at Libor +2.95%. Proceeds from this long-term debt facility were used towards refinancing short-term debt and partially supporting expected capital expenditure needs for capacity expansion and the automatization of some of our processes. This facility also contains a covenant requiring that the company maintain certain leverage and fixed charge coverage ratios with which the Company is in compliance as of June 30, 2019.

As of June 30, 2019, the Company was obligated under various leases under which the aggregate present value of the minimum lease payments amounted to $650. Differences between lease obligations and the value of property, plant and equipment under capital lease arises from differences between the maturities of capital lease obligations and the useful lives of the underlying assets.

Maturities of long-term debt and other current borrowings are as follows as of June 30, 2019:

2020	$	12,411
2021		5,508
2022		219,988
2023		11,400
2024		12,868
Thereafter		4,901
Total	$	267,077

The Company’s loans have maturities ranging from a few weeks to 10 years. Our credit facilities bear interest at a weighted average of rate 7.5%.

Note 8. Fair Value Measurements

The Company accounts for financial assets and liabilities in accordance with accounting standards that define fair value and establish a framework for measuring fair value. The hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and advances from customers approximate their fair value due to their relatively short-term maturities. The Company bases its fair value estimate for long term debt obligations on its internal valuation that all debt is floating rate debt based on current interest rates in Colombia.

As of June 30, 2019, financial instruments carried at amortized cost that do not approximate fair value consist of long-term debt. See Note 7 - Debt. The fair value of long-term debt was calculated based on an analysis of future cash flows discounted with our average cost of debt which is based on market rates, which are level 2 inputs.

The following table summarizes the fair value and carrying amounts of our long-term debt:

	June 30, 2019		December 31, 2018
Fair Value		266,223		234,163
Carrying Value		250,234		220,709

Note 9. Income Taxes

The Company files income tax returns for TG, ES and ES Metals in the Republic of Colombia. On December 28, 2018, a tax reform was implemented in Colombia which decreased the corporate income tax rate to 33% for fiscal year 2019, 32% for fiscal year 2020, 31% for fiscal year 2021 and 30% for fiscal year 2022, in comparison with a tax rate of 37% for 2018.

GM&P, Componenti and ESW LLC are U.S. entities based in Florida subject to U.S. federal and state income taxes. The estimated combined state and federal income tax rate is estimated at a rate of 26.5% based on the recently enacted U.S. Tax Reform. Tecnoglass Inc. as well as all the other subsidiaries in the Cayman Islands do not currently have any tax obligations.

The components of income tax expense are as follows:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Current income tax
United States	$	(903	)	$	1,129		$	(1,415	)	$	722
Colombia		(4,338	)		(317	)		(7,758	)		(2,522	)
		(5,241	)		812			(9,173	)		(1,800	)
Deferred income Tax
United States		957			(992	)		1,126			(1,161	)
Colombia		307			1,647			(809	)		(965	)
		1,264			655			317			(2,126	)
Total income tax (provision) benefit	$	(3,977	)	$	1,467		$	(8,856	)	$	(3,926	)

Effective tax rate		(34	%)		27	%		(37	%)		37	%

The Company’s weighted average statutory income tax rate is 33%.

Note 10. Related Parties

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Sales to related parties	$	1,624	$	1,184	$	3,984	$	2,137

Fees paid to directors and officers	$	1,013	$	801	$	1,822	$	1,628
Payments to other related parties	$	907	$	674	$	1,833	$	1,662

	June 30, 2019		December 31, 2018
Current Assets:
Due from VS	$	6,934	$	6,229
Due from other related parties		2,462		2,010
	$	9,396	$	8,239

Liabilities:
Due to related parties - current	$	4,335	$	1,500
Due to related parties - long term	$	611	$	600

The Company also has a note payable which matures in 2022 related to the acquisition GM&P for $8,500 due to the former owner who holds shares of the Company and a management position within the Company.

Ventana Solar S.A. (“VS”), a Panama Sociedad anónima, is an importer and installer of the Company’s products in Panama. Family members of the Company’s CEO and COO and other related parties own 100% of the equity in VS. The Company’s sales to VS for the three months ended June 30, 2019 and 2018 were $855 and $588, respectively. The Company’s sales to VS for the six months ended June 30, 2019 and 2018 were $1,525 and $1,214, respectively.

Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Charitable contributions	$	178	$	296	$	605	$	567
Sales commissions	$	286	$	336	$	762	$	677

Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.

Note 11. Shareholders’ Equity

Dividends

The Company originally authorized the payment of four regular quarterly dividends to holders of ordinary shares at a quarterly rate of $0.125 per share, or $0.50 per share on an annual basis, with the first quarterly dividend being paid on November 1, 2016. The dividends were payable in cash or ordinary shares, at the option of the holders of ordinary shares. On May 11, 2017, the Company announced that commencing with the declared quarterly dividend for the third quarter of 2017 through any future dividends to be declared and paid through the second quarter of 2018, a 12% increase to $0.14 per share, or $0.56 per share on an annual basis would apply. The Company has continued paying quarterly dividends at this rate through the second quarter of 2019.

As a result, the Company has declared dividends for $12,389 as of June 30, 2019 and recorded a dividend payable amounting to $1,379 as of June 30, 2019. The Company issued 1,214,023 shares for the share dividends resulting in $9,578 being credited to Capital and paid $2,170 in cash during the six months ended June 30, 2019.

The Company analyzed the accounting guidance under ASC 505 and determined that this guidance is not applicable since the dividend are shares of the same class in which each shareholder is given an election to receive cash or shares. As such, the Company analyzed the dividend under ASC 480 — Distinguishing Liabilities from Equity and concluded that the dividend should be accounted for as a liability since the dividend is a fixed monetary amount known at inception. A reclassification from dividend payable to additional paid-in capital was done for the stock dividend elections.

Dividend declarations and the establishment of future record and payment dates are subject to the Board of Directors’ continuing determination that the dividend policy is in the best interests of the Company and its shareholders. The dividend policy may be changed or cancelled at the discretion of the Board of Directors at any time.

Follow-on Equity Offering

On March 25, 2019, the Company closed an underwritten follow-on public offering of 5,000,000 ordinary shares at a price to the public of $7.00 per share. As a result of this offering, the Company received a net amount of $33,050 after deducting underwriting and other related fees, which were credited to share capital and additional paid in capital.

Additionally, the Company granted the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less the underwriting discount, which option was exercised on April 3, 2019 with respect to 551,423 ordinary shares.

Proceeds from the offering were subsequently used to complete the joint venture transaction with Saint-Gobain discussed in Note 3. Vidrio Andino Acquisition.

Earnings per Share

The following table sets forth the computation of the basic and diluted earnings per share for the six months ended June 30, 2019 and 2018:

	Three months ended June 30,					Six months ended June 30,
	2019		2018			2019		2018
Numerator for basic and diluted earnings per shares
Net Income (loss)	$	7,660	$	(3,870	)	$	14,991	$	6,749

Denominator
Denominator for basic earnings per ordinary share - weighted average shares outstanding		44,840,263		38,200,792			42,254,672		38,135,096
Effect of dilutive securities and stock dividend		763,676		-			763,676		763,676
Denominator for diluted earnings per ordinary share - weighted average shares outstanding		45,603,939		38,200,792			43,018,348		38,898,772
Basic earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.18
Diluted earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.17

The effect of dilutive securities includes 763,676 shares for shares potentially issued in relation to the dividends declared. For the quarter ended June 30, 2018, the effect of dilutive securities is excluded from the calculation of diluted earnings per share because including them would be anti-dilutive given the net loss during the period.

Note 12. Commitments and Contingencies

Commitments

As of June 30, 2019, the Company had an outstanding obligation to purchase an aggregate of at least $25,141 of certain raw materials from a specific supplier before May 2026.

General Legal Matters

From time to time, the Company is involved in legal matters arising in the regular course of business. Some disputes are derived directly from our construction projects, related to supply and installation, and even though deemed ordinary, they may involve significant monetary damages. We are also subject to other type of litigations arising from employment practices, worker’s compensation, automobile claims and general liability. It is very difficult to predict precisely what the outcome of these litigations might be. However, with the information at our disposition as this time, there are no indications that such claims will result in a material adverse effect on the business, financial condition or results of operations of the Company.

Note 13. Subsequent Events

Management concluded that no additional subsequent events required disclosure other than those disclosed in these financial statements.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

This Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange Commission (“SEC”) filings. References to “we”, “us” or “our” are to Tecnoglass Inc. (formerly Andina Acquisition Corporation), except where the context requires otherwise. The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements and related notes thereto included elsewhere in this report.

Overview

We are a vertically-integrated manufacturer, supplier and installer of architectural glass, windows and associated aluminum products for the global commercial and residential construction markets. With a focus on innovation, combined with providing highly specified products with the highest quality standards at competitive prices, we have developed a leadership position in each of our core markets. In the United States, which is our largest market, we were ranked as the second largest glass and metal fabricator in 2018 by Glass Magazine. In addition, we believe we are the leading glass transformation company in Colombia. Based on our analysis of third-party industry sources we had an estimated market share of over 45% of the Colombian market in 2017. Our customers, which include developers, general contractors or installers for hotels, office buildings, shopping centers, airports, universities, hospitals and multi-family and residential buildings, look to us as a value-added partner based on our product development capabilities, our high-quality products and our unwavering commitment to exceptional service.

We have more than 30 years of experience in architectural glass and aluminum profile structure assembly, we transform a variety of glass products, including tempered safety, double thermo-acoustic and laminated glass. Our finished glass products are installed in a wide variety of buildings across a number of different applications, including floating facades, curtain walls, windows, doors, handrails, interior and bathroom spatial dividers. We also produce aluminum products such as profiles, rods, bars, plates and other hardware used in the manufacturing of windows.

Our products are manufactured in a 2.7 million square foot, state-of-the-art manufacturing complex in Barranquilla, Colombia that provides easy access to North, Central and South America, the Caribbean and the Pacific. Our products can be found on some of the most distinctive buildings in these regions including El Dorado Airport (Bogota), 50 United Nations Plaza (New York), Trump Plaza (Panama), Icon Bay (Miami), and Salesforce Tower (San Francisco). Our track record of successfully delivering high profile projects has earned us an increasing number of opportunities across the United States, evidenced by our expanding backlog and overall revenue growth.

Our structural competitive advantage is underpinned by our low-cost manufacturing footprint, vertically integrated business model and geographic location. Our integrated facilities in Colombia and distribution and services operations in Florida provide us with a significant cost advantage in both manufacturing and distribution, and we continue to invest in these operations to expand our operational capabilities. Our lower cost manufacturing footprint allows us to offer competitive prices for our customers, while also providing innovative, high quality and high value-added products, together with consistent and reliable service. We have historically generated high margin organic growth based on our position as a value-added solutions provider for our customers.

We have a strong presence in the Florida market, which represents a substantial portion of our revenue stream and backlog. Our success in Florida has primarily been achieved through sustained organic growth, with further penetration now taking place into other highly populated areas of the United States. As part of our strategy to become a fully vertically integrated company, we have supplemented our organic growth with some recent acquisitions that have allowed us added control over our supply chain. In March 2017, we completed the acquisition of GM&P, a consulting and glazing installation business that was previously our largest installation customer. In 2016, we completed the acquisition of ESW, which gave us control over the distribution of products into the United States from our manufacturing facilities in Colombia. These acquisitions allowed for further vertical integration of our business and will act as a platform for our future expansion in the United States. Furthermore, on May 3, 2019, we consummated the joint venture agreement with Saint-Gobain, acquiring a 25.8% minority ownership interest in Vidrio Andino, a Colombia-based subsidiary of Saint-Gobain, solidifying our vertical integration strategy by acquiring an interest in the first stage of our production chain, while securing ample glass supply for our expected production needs.

The continued diversification of the group’s presence and product portfolio is a core component of our strategy. In particular, we are actively seeking to expand our presence in United States outside of Florida. We also launched a residential windows offering which, we believe, will help us expand our presence in the United States and generate additional organic growth. We believe that the quality of our products, coupled with our ability to price competitively given our structural advantages on cost, will allow us to generate further growth in the future.

RESULTS OF OPERATIONS

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Operating Revenues	$	113,883		$	88,969		$	221,051		$	176,129
Cost of sales		75,046			64,327			150,322			124,739
Gross profit		38,837			24,642			70,729			51,390
Operating expenses		(20,573	)		(17,020	)		(38,229	)		(33,778	)
Operating income		18,264			7,622			32,500			17,612
Non-operating income		353			709			628			1,808
Foreign currency transactions (losses) gains		(1,201	)		(8,307	)		2,085			1,666
Equity method income (loss)		(22	)		-			(22	)		-
Interest Expense and deferred cost of financing		(5,757	)		(5,361	)		(11,344	)		(10,411	)
Income tax provision		(3,977	)		1,467			(8,856	)		(3,926	)
Net income		7,660			(3,870	)		14,991			6,749
(Income) loss attributable to non-controlling interest		(181	)		212			(174	)		284
Income attributable to parent	$	7,479		$	(3,658	)	$	14,817		$	7,033

Comparison of quarterly periods ended June 30, 2019 and 2018

Revenues

The Company’s operating revenues increased $24.9 million or 28.0% from $89.0 million to $113.9 million for the quarter ended June 30, 2019 compared with the quarter ended June 30, 2018.

The increase was driven by sales in the U.S. markets, which increased $29.5 million or 42.2% in the second quarter of 2019 compared to the same period of 2018. A portion of the Company’s sales growth in the American market have been driven by our Elite and Prestige lines aimed towards residential markets, in which we did not actively participate prior to 2017. U.S. revenues contributed 87.2% and 78.5% of total sales during the second quarter of 2019 and 2018, respectively. The increase in U.S revenues is aligned with our strategy to penetrate new geographical and end markets.

This growth more than offset a slowdown of sales in the Colombian market, which went from $15.6 million to $12.2 million in the second quarter of 2018 and 2019, respectively. The decrease in the Colombian market sales was mostly related to reduced activity in the construction industry, following a two-year period of economic slowdown, which we expect to undergo a slow recovery in the near and mid-term future.

Gross profit

Gross profit increased $14.2 million, or 57.6% to $38.8 million during the three months ended June 30, 2019, compared with $24.6 million during the same period of 2018. Gross profit margins improved to 34.1% during the second quarter of 2019, from 27.7% during the second quarter of 2018. The margin enhancement is mainly related to economies of scale, enforcing tight cost control over fixed costs and higher sales, along with a mix of business with a smaller portion of revenues being derived from installation work, which carries a lower gross profit margin as a whole.

Expenses

Operating expenses increased $3.6 million, or 20.9%, from $17.0 million to $20.6 million for the quarters ended June 30, 2018 and 2019, respectively. This was primarily related to $0.9 million higher shipping expense, which increased 25% from $3.8 million to $4.7 million as a result of higher sales. Additionally, provision of trade accounts receivable expense amounted to $0.4 million during the second quarter of 2019, compared with a net recovery of previously provisioned amounts for $0.5 million during 2018. Sales commissions increased $0.6 million related to a higher overall amount of sales during the quarter, primarily related to sales of our Elite and Prestige product lines aimed towards residential U.S. markets.

Non-operating Income

During the three months ended June 30, 2019 and 2018, the Company recorded net non-operating income of $0.4 million and $0.7 million, respectively. Non-operating income is comprised primarily of income from rental properties and gains on sale of scrap materials.

Foreign currency transaction gains and losses

During the quarter ended June 30, 2019, the Company recorded a non-cash loss of $1.2 million associated with foreign currency transactions. Most of this impact is associated with the remeasurement of a net liability position of $152.0 million U.S. dollar denominated monetary assets and liabilities held by the Company’s subsidiaries with the Colombian peso as their functional currency during a period in which the Colombian peso depreciated by 1%. Comparatively, the Company recorded a net loss of $8.3 million during the three months ended June 30, 2018 while the Colombian peso depreciated 5.4% during the quarter.

Interest Expense

Interest expense was $5.8 million and $5.4 million during the quarters ended June 30, 2019 and 2018, respectively. The 7.4% increase in interest expense is related to a proportional increase of 13% in the Company’s total debt at June 30, 2019 compared with June 30, 2018 to support its ongoing growth.

As a result of the foregoing, the Company recorded net income for the three months ended June 30, 2019 of $7.7 million compared to a net loss of $3.9 million in the three months ended June 30, 2018.

Comparison of six-month periods ended June 30, 2019 and 2018

Revenues

The Company’s operating revenues increased $44.9 million or 25.5% from $176.1 million to a record $221.1 million for the six months ended June 30, 2019 compared with the six months ended June 30, 2018.

The increase was driven by sales in the U.S. markets, which increased $58.5 million or 44.0% in the first half of 2019 compared to the same period of 2018. A portion of the Company’s sales growth in the American market have been driven by our Elite and Prestige lines aimed towards residential markets, in which we did not actively participate prior to 2018. U.S. revenues contributed 86.6% and 75.4% of total sales during the first half of 2019 and 2018, respectively. The increase in U.S revenues is aligned with our strategy to penetrate new geographical and end markets.

This growth more than offset a slowdown of sales in the Colombian market, which went from $37.4 million to $24.7 million in the first half of 2018 and 2019, respectively. The decrease in the Colombian market sales was mostly related to reduced activity in the construction industry, following a two-year period of economic slowdown, which we expect to undergo a slow recovery in the near and mid-term future.

Gross profit

Gross profit increased $19.3 million, or 37.6% to $70.7 million during the six months ended June 30, 2019, compared with $51.4 million during the same period of 2018. Gross profit margins improved to 32.0% during the first half of 2019, from 29.2% during the first half of 2018. The margin enhancement is mainly related to economies of scale, enforcing tight cost control over fixed costs over higher sales.

Expenses

Operating expenses increased $4.5 million, or 13.2%, from $33.8 million to $38.2 million for the six months ended June 30, 2018 and 2019, respectively. The increase was related, in part, to $1.0 million higher sales commissions related to a higher overall amount of sales during the quarter, especially related to sales of our Elite and Prestige product lines aimed towards residential U.S. markets, a $0.9 million increase in provision of trade accounts receivable expense, which amounted to $0.5 million during the first half of 2019, compared with a net recovery of previously provisioned amounts for $0.4 million during 2018. Shipping expense increased $0.5 million, or 6.2%, despite higher sales growth, through our efforts for efficient logistics favoring maritime freights and minimizing costlier land transportation. Additionally, the Company recorded $0.5 million incremental personnel expense, mostly to strengthen our sales force to support growth. The US Steel and Aluminum Tariff levied during the second quarter of 2018 resulted in an increase of $0.4 during the six-month period as the tariff was in effect during the full term in the first half of 2019.

Non-operating Income

During the six months ended June 30, 2019 and 2018, the Company recorded net non-operating income of $0.6 million and $1.8 million, respectively. Non-operating income is comprised primarily of income from rental properties and gains on sale of scrap materials.

Foreign currency transaction gains and losses

During the quarter ended June 30, 2019, the Company recorded a non-cash gain of $2.1 million associated to foreign currency transactions. Most of this impact is associated to the remeasurement of a net liability position of $152.0 million U.S. dollar denominated monetary assets and liabilities held by the Company’s subsidiaries with the Colombian peso as their functional currency during a period in which the Colombian peso appreciated 1%. Comparatively, the Company recorded a net gain of $1.7 million during the six months ended June 30, 2018 while the Colombian peso appreciated 2%.

Interest Expense

Interest expense was $11.3 million and $10.4 million during the six months ended June 30, 2019 and 2018, respectively. The 9% increase in interest expense is related to a proportional increase of 13% in the Company’s total debt at June 30, 2019 compared with June 30, 2018 to support its ongoing growth.

As a result of the foregoing, the Company recorded net income for the six months ended June 30, 2019 of $15.0 million compared to $6.7 million in the six months ended June 30, 2018.

Liquidity

As of June 30, 2019, and December 31, 2018, we had cash and cash equivalents of approximately $47.7 million and $33.0 million, respectively. During the six months ended June 30, 2019, the main source of cash was derived from its operations, an underwritten follow-on public offering of 5,551,423 ordinary shares, including the underwriters’ over-allotment option, for net proceeds of $36.5 million, and proceeds from a $30 million long-term syndicate loan facility further described below under “Cash Flow from Operations, Investing and Financing Activities”. While operating cashflow supported strong growth during the period, proceeds from the equity issuance were used to finance our joint venture with Saint-Gobain. The new syndicate facility was mainly used to reprofile debt into a longer tenor and a lower interest rate.

As of June 30, 2019, the Company had $15.8 million of borrowings available under several facilities with relationship banks, as most of the outstanding balances under such lines were repaid with the long-term syndicate loan facility issued in April of this year.

Capital Resources

On January 11, 2019, we entered into a joint venture agreement with Saint-Gobain, a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8% minority ownership interest in Vidrio Andino Holdings S.A.S, a Colombia-based subsidiary of Saint-Gobain. The purchase price for our interest in this entity was $45 million, $34.1 million were paid in cash, and a $10.9 million lot of land near our facility in Barranquilla, which will be contributed on our behalf by our Chief Executive Officer and Chief Operating Officer, José M. Daes and Christian T. Daes with a third-party valuation to be conducted. Vidrio Andino’s float glass plant located in the outskirts of Bogota, Colombia, had been one of our main suppliers of raw glass. We believe this transaction solidifies our vertical integration strategy by acquiring an interest in the first stage of our production chain, while securing ample glass supply for our expected production needs. The acquisition was consummated on May 3, 2019, and under the joint venture agreement, Saint Gobain will retain a majority ownership position and will have control over the operations of Vidrio Andino Holdings SAS and as such, the transaction is being accounted for under the equity method.

The joint venture agreement also includes plans to build a new plant in Galapa, Colombia that will be located approximately 20 miles from our main manufacturing facility, in which we will also have a 25.8% interest. The new plant will be funded with proceeds from the original cash contribution made by the Company, operating cashflows from the Bogota plant, debt incurred at the joint venture level that will not consolidate into the Company and an additional contribution by us of approximately $12.5 million to be paid between 2020 and 2021.

Additionally, the Company is carrying out enhancements at its glass and aluminum facilities to increase production capacity and automate operations. The Company anticipates that these high return investments will speed up production processes in response to strong customer demand, especially for aluminum products. The Company expects to improve efficiency in its glass production by automating certain processes to increase capacity on the transformed glass tempering lines by approximately 2.5 times, while reducing material waste and overall lead times. In its aluminum operations, the Company intends to benefit from a 25% increase in capacity and favorable operating leverage with the addition of an aluminum furnace and a new extrusion line, along with working capital improvements through the automation of warehousing systems. The Company completed this aluminum capacity expansion in the middle of July of 2019 and expects the full implementation of its automation initiatives by the end of 2019, with a total anticipated investment of approximately $20 million with this funding being executed since the end of 2018 and expected to be completed by the first quarter of 2020 (as some payments are expected post completion based on certain performance conditions). The Company expects to continue funding these capital investments mainly with cash on hand.

Cash Flow from Operations, Investing and Financing Activities

	Six months ended June 30,
	2019			2018
Cash Flow provided by (used in) Operating Activities	$	9,048		$	(6,449	)
Cash Flow used in Investing Activities		(47,916	)		(11,184	)
Cash Flow from Financing Activities		53,303			5,774
Effect of exchange rates on cash and cash equivalents		163			861
Cash Balance - Beginning of Period		33,040			40,923
Cash Balance - End of Period	$	47,638		$	29,925

During the six months ended June 30, 2019 operating activities generated $9.0 million, in contrast to a use of $6.5 million during the six months ended June 30, 2018.

While growing sales 25.5% year-over-year during the first half of 2019, the Company was able to generate cashflow from operating activities through careful management of inventories, receivables and better supplier terms. The main source of operating cashflow during the first half of 2019 was trade accounts payable, generating $8.6 million, in contrast with a use of $2.3 million in 2018, mostly related to more purchases of raw materials to supply our growing operation. Despite this, inventory levels have remained relatively stable and even generated moderate $2.1 million as a result of our efforts to streamline our vertically integrated operation and speed up inventory turnover.

Main use of cash within operating activities was trade accounts receivable, which used $16.8 million during the six-month period ended June 30, 2019. Despite the nominal balance of receivables increasing as of June 30, 2019 relative to fiscal year end, Days Sales Outstanding ratio remained flat, at 90 days as of June 30, 2019 and December 31, 2018. Comparably, trade accounts receivable used $4.0 million during the first half of 2018. Contract assets and liabilities used $9.8 million, as per industry common practice, retainage receivables associated with installation work, are built up throughout the life of a project and released upon completion. Comparably, contract assets and liabilities used $3.8 million during the six months ended June 30, 2018.

The main source of cash during the six months ended June 30, 2019 was from Financing Activities, which generated $53.3 million. In March, 2019, the Company closed an underwritten follow-on public offering of 5,551,423 ordinary shares, including the underwriters’ over-allotment option, for net proceeds of $36.5 million. Additionally, the Company generated proceeds of debt for $36.7 million, mostly related to a $30 million five year term facility, proceeds which were mostly used to repay then existing short-term debt the Company had accumulated to fund working capital required to support nine quarters with consecutive quarter-over-quarter sales growth. Net of repayments, we generated $19.0 million from debt while continuing the decrease of its leverage metrics given the Company´s continued growth and income from operations.

The Company used $47.9 million and $11.2 million in investing activities during the six months ended June 30, 2019 and 2018. Main use of cash in investing activities was a payment for the acquisition of 25.8% equity interest in Vidrio Andino Holding, a joint-venture with Saint-Gobain described above under Capital Resources. Additionally, during the first half of 2019, the company paid $13.8 million to acquire property plant and equipment, which in combination with $1.4 million acquired under credit, amount to total Capital Expenditures of $15.2 million as part of our high return investment plan further described above in the Capital Resources section.

Off-Balance Sheet Arrangements

None

Item 3. Quantitative and Qualitative Disclosures about Market Risk

None

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We performed an evaluation required by Rules 13a-15 and 15d-15 of the Securities Exchange Act of 1934, as amended, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of Tecnoglass, Inc.´s design and operating effectiveness of the internal controls over financial reporting as of the end of the period covered by this Quarterly Report. Based on this evaluation, our principal executive officer and principal financial officer concluded that, due to the material weakness described on our Annual Report on form 10-K for the year ended December 31, 2018, our internal controls over financial reporting were not effective as of June 30, 2019. Notwithstanding the material weakness in our internal control over financial reporting referenced above, we believe the consolidated financial statements are fairly stated in all material respects in accordance with generally accepted accounting principles in the United States of America for each of the periods presented herein.

We identified and disclosed a material weakness in the accounting for income taxes as of December 31, 2018, and have started to design and implement certain remediating controls gradually. We intend to continue our remediation plan to address the material weakness.

We currently have most of our enhanced review procedures and documentation standards in place and operating. Our main objective is to remediate this material weakness by the end of fiscal year 2019, in order to have enough opportunities to conclude, through our testing, that the enhanced monitoring and control activities are operating effectively as of year-end.

Changes in Internal Control over Financial Reporting

For the quarter ended June 30, 2019, there have been no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

General Legal Matters

From time to time, the Company is involved in legal matters arising in the ordinary course of business. While management believes that such matters are currently not material, there can be no assurance that matters arising in the ordinary course of business for which the Company is, or could be, involved in litigation, will not have a material adverse effect on its business, financial condition or results of operations.

Item 6. Exhibits

Exhibit No.		Description

31.1		Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32		Certification of Chief Executive Officers pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101		Financial statements from the Quarterly Report on Form 10-Q of Tecnoglass Inc. for the quarter ended June 30, 2019, formatted in XBRL: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations, (iii) Condensed Consolidated Statement of Changes in Stockholders’ Equity, (iv) Condensed Consolidated Statement of Cash Flows and (v) Notes to Unaudited Condensed Consolidated Financial Statements, as blocks of text and in detail.

101.INS		XBRL Instance Document

101.SCH		XBRL Taxonomy Extension Schema Document

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		XBRL Taxonomy Extension Label Linkbase Document

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TECNOGLASS INC.

	By:	/s/ Jose M. Daes
		Jose M. Daes
		Chief Executive Officer
		(Principal executive officer)

	By:	/s/ Santiago Giraldo
		Santiago Giraldo
		Chief Financial Officer
		(Principal financial and accounting officer)

Date: August 9, 2019

EX-31.1 2 ex31-1.htm

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jose M. Daes, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Tecnoglass Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 9, 2019

	/s/ Jose M. Daes
	Jose M. Daes
	Chief Executive Officer

EX-31.2 3 ex31-2.htm

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Santiago Giraldo, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Tecnoglass Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 9, 2019

	/s/ Santiago Giraldo
	Santiago Giraldo
	Chief Financial Officer
	(Principal financial and accounting officer)

EX-32 4 ex32.htm

EXHIBIT 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Tecnoglass Inc. (the “Company”) on Form 10-Q, for the period ended June 30, 2019 as filed with the Securities and Exchange Commission (the “Report”), the undersigned, in the capacities and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated August 9, 2019

	By:	/s/ Jose M. Daes
		Jose M. Daes
		Chief Executive Officer
		(Principal executive officer)

	By:	/s/ Santiago Giraldo
		Santiago Giraldo
		Chief Financial Officer
		(Principal financial and accounting officer)

EX-101.INS 5 tgls-20190630.xml XBRL INSTANCE FILE 0001534675 2019-01-01 2019-06-30 0001534675 2019-06-30 0001534675 us-gaap:TaxYear2019Member 2018-12-27 2018-12-28 0001534675 us-gaap:CommonStockMember 2017-12-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001534675 us-gaap:RetainedEarningsMember 2017-12-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001534675 us-gaap:NoncontrollingInterestMember 2017-12-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2017-12-31 0001534675 2018-12-31 0001534675 us-gaap:CommonStockMember 2018-12-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001534675 us-gaap:RetainedEarningsMember 2018-12-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2018-12-31 0001534675 us-gaap:NoncontrollingInterestMember 2018-12-31 0001534675 us-gaap:TradeNamesMember 2018-12-31 0001534675 TGLS:NoticeOfAcceptancesProductDesignsAndIntellectualPropertyMember 2018-12-31 0001534675 TGLS:NoncompeteAgreementMember 2018-12-31 0001534675 TGLS:ContractBacklogMember 2018-12-31 0001534675 us-gaap:CustomerRelationshipsMember 2018-12-31 0001534675 us-gaap:PropertyPlantAndEquipmentMember 2018-12-31 0001534675 us-gaap:FairValueInputsLevel2Member 2018-12-31 0001534675 2018-01-01 2018-06-30 0001534675 TGLS:LegalReservesMember 2017-12-31 0001534675 TGLS:LegalReservesMember 2018-12-31 0001534675 TGLS:ExternalCustomersMember 2018-01-01 2018-06-30 0001534675 TGLS:ExternalCustomersMember 2019-01-01 2019-06-30 0001534675 TGLS:RelatedPartiesMember 2018-01-01 2018-06-30 0001534675 TGLS:RelatedPartiesMember 2019-01-01 2019-06-30 0001534675 TGLS:ContractAssetsMember 2019-01-01 2019-06-30 0001534675 TGLS:ContractLiabilitiesMember 2019-01-01 2019-06-30 0001534675 us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001534675 us-gaap:CommonStockMember 2018-06-30 0001534675 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001534675 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001534675 TGLS:LegalReservesMember 2018-04-01 2018-06-30 0001534675 TGLS:LegalReservesMember 2018-06-30 0001534675 us-gaap:RetainedEarningsMember 2018-04-01 2018-06-30 0001534675 us-gaap:RetainedEarningsMember 2018-06-30 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2018-04-01 2018-06-30 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2018-06-30 0001534675 us-gaap:NoncontrollingInterestMember 2018-04-01 2018-06-30 0001534675 us-gaap:NoncontrollingInterestMember 2018-06-30 0001534675 2018-04-01 2018-06-30 0001534675 2018-03-31 0001534675 2018-06-30 0001534675 us-gaap:CommonStockMember 2019-06-30 0001534675 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001534675 TGLS:LegalReservesMember 2019-06-30 0001534675 us-gaap:RetainedEarningsMember 2019-06-30 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2019-06-30 0001534675 us-gaap:NoncontrollingInterestMember 2019-06-30 0001534675 2017-12-31 0001534675 TGLS:FixedPriceContractsMember 2019-01-01 2019-06-30 0001534675 TGLS:FixedPriceContractsMember 2018-01-01 2018-06-30 0001534675 TGLS:ProductSalesMember 2019-01-01 2019-06-30 0001534675 TGLS:ProductSalesMember 2018-01-01 2018-06-30 0001534675 country:CO 2019-01-01 2019-06-30 0001534675 country:CO 2018-01-01 2018-06-30 0001534675 country:US 2019-01-01 2019-06-30 0001534675 country:US 2018-01-01 2018-06-30 0001534675 country:PA 2019-01-01 2019-06-30 0001534675 country:PA 2018-01-01 2018-06-30 0001534675 TGLS:OtherMember 2019-01-01 2019-06-30 0001534675 TGLS:OtherMember 2018-01-01 2018-06-30 0001534675 us-gaap:TradeNamesMember 2019-06-30 0001534675 TGLS:NoticeOfAcceptancesProductDesignsAndIntellectualPropertyMember 2019-06-30 0001534675 TGLS:NoncompeteAgreementMember 2019-06-30 0001534675 us-gaap:CustomerRelationshipsMember 2019-06-30 0001534675 us-gaap:PropertyPlantAndEquipmentMember 2019-06-30 0001534675 us-gaap:FairValueInputsLevel2Member 2019-06-30 0001534675 TGLS:TaxYearTwoThousandTwentyMember 2018-12-27 2018-12-28 0001534675 TGLS:TaxYearTwoThousandTwentyOneMember 2018-12-27 2018-12-28 0001534675 TGLS:TaxYearTwoThousandTwentyTwoMember 2018-12-27 2018-12-28 0001534675 TGLS:TaxYearTwoThousandEighteenMember 2018-12-27 2018-12-28 0001534675 TGLS:GMAndPMember 2019-01-01 2019-06-30 0001534675 TGLS:CEOCOOandOtherRelatedPartiesMember 2019-06-30 0001534675 TGLS:VentanaSolarSaMember 2019-01-01 2019-06-30 0001534675 TGLS:VentanaSolarSaMember 2018-01-01 2018-06-30 0001534675 TGLS:CharitablecontributionsMember 2018-01-01 2018-06-30 0001534675 TGLS:SalesCommissionsMember 2018-01-01 2018-06-30 0001534675 TGLS:QuarterlyRateMember 2016-11-01 0001534675 TGLS:AnnualBasisMember 2016-11-01 0001534675 TGLS:QuarterlyRateMember 2017-05-10 2017-05-11 0001534675 TGLS:QuarterlyRateMember 2017-05-11 0001534675 TGLS:AnnualBasisMember 2017-05-11 0001534675 TGLS:CapitalMember 2019-01-01 2019-06-30 0001534675 us-gaap:CashMember 2019-01-01 2019-06-30 0001534675 TGLS:FollowOnEquityOfferingMember 2019-03-24 2019-03-25 0001534675 TGLS:FollowOnEquityOfferingMember 2019-03-25 0001534675 TGLS:FollowOnEquityOfferingMember TGLS:UnderwritersMember 2019-03-24 2019-03-25 0001534675 TGLS:FollowOnEquityOfferingMember TGLS:UnderwritersMember 2019-04-02 2019-04-03 0001534675 TGLS:SaintGobainJointVentureAgreementMember TGLS:VidrioAndinoHoldingsSASMember 2019-01-11 0001534675 TGLS:SaintGobainJointVentureAgreementMember TGLS:VidrioAndinoHoldingsSASMember 2019-01-10 2019-01-11 0001534675 TGLS:SaintGobainJointVentureAgreementMember TGLS:VidrioAndinoHoldingsSASMember 2019-05-01 2019-05-03 0001534675 TGLS:FormerOwnerMember 2019-06-30 0001534675 TGLS:CharitablecontributionsMember 2019-01-01 2019-06-30 0001534675 TGLS:SalesCommissionsMember 2019-01-01 2019-06-30 0001534675 2019-04-01 2019-06-30 0001534675 TGLS:ExternalCustomersMember 2019-04-01 2019-06-30 0001534675 TGLS:ExternalCustomersMember 2018-04-01 2018-06-30 0001534675 TGLS:RelatedPartiesMember 2019-04-01 2019-06-30 0001534675 TGLS:RelatedPartiesMember 2018-04-01 2018-06-30 0001534675 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001534675 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001534675 us-gaap:CommonStockMember 2019-03-31 0001534675 us-gaap:CommonStockMember 2018-03-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001534675 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001534675 TGLS:LegalReservesMember 2019-01-01 2019-03-31 0001534675 TGLS:LegalReservesMember 2018-01-01 2018-03-31 0001534675 TGLS:LegalReservesMember 2019-03-31 0001534675 TGLS:LegalReservesMember 2018-03-31 0001534675 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001534675 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0001534675 us-gaap:RetainedEarningsMember 2019-03-31 0001534675 us-gaap:RetainedEarningsMember 2018-03-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2019-01-01 2019-03-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2018-01-01 2018-03-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2019-03-31 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2018-03-31 0001534675 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001534675 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-03-31 0001534675 us-gaap:NoncontrollingInterestMember 2019-03-31 0001534675 us-gaap:NoncontrollingInterestMember 2018-03-31 0001534675 2019-01-01 2019-03-31 0001534675 2018-01-01 2018-03-31 0001534675 2019-03-31 0001534675 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001534675 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001534675 TGLS:LegalReservesMember 2019-04-01 2019-06-30 0001534675 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001534675 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001534675 TGLS:TotalShareholdersEquityAttributableToParentMember 2019-04-01 2019-06-30 0001534675 us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0001534675 us-gaap:AccountingStandardsUpdate201602Member 2019-01-02 0001534675 TGLS:FixedPriceContractsMember 2019-04-01 2019-06-30 0001534675 TGLS:FixedPriceContractsMember 2018-04-01 2018-06-30 0001534675 TGLS:ProductSalesMember 2019-04-01 2019-06-30 0001534675 TGLS:ProductSalesMember 2018-04-01 2018-06-30 0001534675 country:CO 2019-04-01 2019-06-30 0001534675 country:CO 2018-04-01 2018-06-30 0001534675 country:US 2019-04-01 2019-06-30 0001534675 country:US 2018-04-01 2018-06-30 0001534675 country:PA 2019-04-01 2019-06-30 0001534675 country:PA 2018-04-01 2018-06-30 0001534675 TGLS:OtherMember 2019-04-01 2019-06-30 0001534675 TGLS:OtherMember 2018-04-01 2018-06-30 0001534675 TGLS:ESMetalsMember 2019-04-30 0001534675 TGLS:DebtFacilityMember TGLS:BancodeCreditodelPeruandBancoSabadellMember 2019-04-29 2019-05-02 0001534675 TGLS:DebtFacilityMember TGLS:BancodeCreditodelPeruandBancoSabadellMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-04-29 2019-05-02 0001534675 TGLS:VentanaSolarSaMember 2019-04-01 2019-06-30 0001534675 TGLS:VentanaSolarSaMember 2018-04-01 2018-06-30 0001534675 TGLS:CharitablecontributionsMember 2019-04-01 2019-06-30 0001534675 TGLS:CharitablecontributionsMember 2018-04-01 2018-06-30 0001534675 TGLS:SalesCommissionsMember 2019-04-01 2019-06-30 0001534675 TGLS:SalesCommissionsMember 2018-04-01 2018-06-30 0001534675 TGLS:SaintGobainJointVentureAgreementMember TGLS:VidrioAndinoHoldingsSASMember 2019-05-03 0001534675 TGLS:SaintGobainJointVentureAgreementMember TGLS:VidrioAndinoHoldingsSASMember us-gaap:LandMember 2019-01-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure 10-Q 2019-06-30 false --12-31 Accelerated Filer

44858442

38092996

-282000

2562000

-6139000

-2052000

1770000

8701000

1770000

8701000

1770000

8701000

-2052000

Tecnoglass Inc.

Maturities of long-term debt and other current borrowings are as follows as of June 30, 2019:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 65%; text-align: center">2020</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 30%; text-align: right">12,411</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,988</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,868</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,901</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: center">Total</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">267,077</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr></table>

The following table summarizes the fair value and carrying amounts of our long-term debt:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 47%; text-align: left">Fair Value</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 23%; text-align: right">266,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 23%; text-align: right">234,163</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Carrying Value</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">220,709</td><td style="text-align: left"> </td></tr></table>

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Sales to related parties</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,624</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">3,984</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,137</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fees paid to directors and officers</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,822</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payments to other related parties</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">674</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,833</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,662</td><td style="text-align: left"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left">Due from VS</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,934</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,229</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Due from other related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,462</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,010</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,396</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,239</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related parties - current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,335</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due to related parties - long term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">600</td><td style="text-align: left"> </td></tr></table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0">June 30, 2019</td><td style="padding: 0; font-weight: bold"> </td><td style="font-weight: bold; padding: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0">December 31, 2018</td><td style="padding: 0; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; text-align: left; padding: 0">Raw materials</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 22%; text-align: right; padding: 0">52,019</td><td style="width: 1%; text-align: left; padding: 0"> </td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 22%; text-align: right; padding: 0">43,744</td><td style="width: 1%; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Work in process</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">28,283</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">25,957</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Finished goods</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">2,023</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">14,251</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Stores and spares</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">7,669</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">7,437</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Packing material</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">999</td><td style="padding: 0; text-align: left"> </td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">540</td><td style="padding: 0; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; text-align: right; padding: 0">90,993</td><td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; text-align: right; padding: 0">91,929</td><td style="font-weight: bold; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Less: Inventory allowance</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">(87</td><td style="padding: 0; text-align: left">)</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">(80</td><td style="padding: 0; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right">90,906</td><td style="padding: 0; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right">91,849</td><td style="padding: 0; font-weight: bold; text-align: left"> </td></tr> </table>

0.35

0.17

-0.10

0.17

0.35

0.18

-0.10

0.17

0001534675

The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2019 is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year ending</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 65%; text-align: center">2019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 30%; text-align: right">1,154</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2020</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">789</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">187</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,730</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr></table>

181604000

3000

125317000

22212000

-28651000

1417000

120248000

133228000

4000

157604000

10439000

-37058000

132356000

872000

1367000

4000

148375000

1367000

19029000

-26089000

142686000

1133000

140014000

143819000

4000

203660000

1367000

12867000

-37340000

180558000

1046000

121665000

4000

195816000

129479000

1367000

11668000

27769000

-35288000

-19950000

173567000

138669000

865000

1345000

174432000

12867000

10439000

398887000

356546000

580491000

489774000

90906000

91849000

110661000

92791000

14991000

6749000

-3658000

-212000

-3870000

7660000

7338000

10691000

7338000

10691000

-7000

-72000

7331000

10619000

7479000

181000

23847000

10675000

-5337000

11637000

70729000

51390000

24642000

38837000

2019

8579000

8887000

0.0001

1000000

0.0001

100000000

44858442

38092996

The Company’s debt is comprised of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Revolving lines of credit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">9,788</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">19,146</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">380</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured senior note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,641</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,804</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Syndicated loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Deferred cost of financing</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,015</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total obligations under borrowing arrangements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">262,457</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">242,315</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Current portion of long-term debt and other current borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,606</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Long-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">250,234</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">220,709</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr></table>

50580000

46018000

14013000

16789000

564000

1436000

285900000

44604000 34779000

11476000

13832000

14577000

18225000

27644000

21703000

31537000

31301000

150322000

124739000

64327000

75046000

8601000

6986000

32500000

17612000

7622000

18264000

628000

1808000

709000

353000

2085000

1666000

-8307000

-1201000

174000

-284000

-212000

181000

14709000

9311000

-10009000

5608000

42254672

38135096

38200792

44840263

43018348

38898772

38200792

45603939

27000

11558000

11458000

-317000

2126000

142000

836000

679000

16836000

3952000

-2078000

7329000

1232000

425000

1279000

91000

194000

41000

-1787000

-10617000

-327000

-114000

1795000

1279000

9793000

3735000

9048000

-6449000

638000

367000

676000

662000

13778000

4889000

-47916000

-11184000

36656000

9067000

2170000

1359000

53303000

5774000

163000

861000

47638000

33040000

9529000

9074000

8369000

5517000

59181000

53004000

221051000

176129000

173992000

217067000

2137000

3984000

88969000

88897000

80030000

132154000

96099000

25153000

37381000

191360000

132845000

1676000

1857000

2862000

4046000

113883000

112259000

87785000

1624000

1184000

46721000

37814000

67162000

51155000

12165000

15557000

99326000

69852000

913000

1043000

1479000

2517000

174000

-284000

-212000

181000

14535000

9595000

-9797000

5427000

true false false

34836575

38092996

37041669

44858442

43631653

35340219

1238095

5000000

4564

551423

14500000

3428000

33050000

34000

33050000

34000

33050000

34000

3428000

-187000 -187000 -187000

463355

538657

499080

675366

-4396000

5082000

686000

1864000

-1000

-5162000

-4128000

6109000

4947000

947000

818000

947000

818000

-4416000

6280000

1864000

145600000 115500000

2336000

1163000

9396000

8239000

21773000

20299000

333290000

293399000

155900000

149199000

7731000

9006000

23561000

3260000

4770000

3170000

2853000

247201000

196375000

12223000

21606000

7768000

7567000

1379000

736000

4335000

1500000

138289000

122595000

689000

2706000

8500000

250234000

220709000

260598000

233951000

4000

1367000 1367000

203660000

157604000

1046000

872000

611000 600000

-37340000

-37058000

180558000

132356000

580491000

489774000

52019000

43744000

28283000

25957000

2023000

14251000

7669000

7437000

999000 540000

90993000

91929000

87000

80000

Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Charitable contributions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">296</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">567</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales commissions</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">336</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">762</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">677</td><td style="text-align: left"> </td></tr></table>

Note 1. General   Business Description   Tecnoglass Inc., a Cayman Islands exempted company (the “Company”, “Tecnoglass,” “TGI,” “we, “ “us” or “our”) manufactures hi-specification, architectural glass and windows for the global residential and commercial construction industries. Currently the Company offers design, production, marketing, and installation of architectural systems for buildings of high, medium and low elevation size. Products include windows and doors in glass and aluminum, office partitions and interior divisions, floating facades and commercial window showcases. The Company exports most of its production to foreign countries, selling to customers in North, Central and South America.   The Company manufactures both glass and aluminum products. Its glass products include tempered glass, laminated glass, thermo-acoustic glass, curved glass, silk-screened glass, acoustic glass and digital print glass. Its Alutions plant produces mill finished, anodized, painted aluminum profiles and rods, tubes, bars and plates. Alutions’ operations include extrusion, smelting, painting and anodizing processes, and exporting, importing and marketing aluminum products.   The Company also designs, manufactures, markets and installs architectural systems for high, medium and low-rise construction, glass and aluminum windows and doors, office dividers and interiors, floating facades and commercial display windows.

Note 2. Basis of Presentation and Summary of Significant Accounting Policies   Basis of Presentation and Use of Estimates   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by US GAAP.   The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates inherent in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature.   The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.   Principles of Consolidation   These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”) and ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control.   Non-controlling interest   When the Company owns a majority of a subsidiary’s stock, the Company includes in its condensed consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Consolidated Balance Sheet, is equal to the non-controlling proportionate share of the subsidiary’s net assets.   Foreign Currency Translation   The unaudited condensed consolidated financial statements are presented in U.S. Dollars, the reporting currency. Some of our foreign subsidiaries’ local currency is the Colombian Peso, which is also their functional currency as determined by the analysis of markets, costs and expenses, assets, liabilities, financing and cash flow indicators. As such, our subsidiaries’ assets and liabilities are translated at the exchange rate in effect at the balance sheet date, with equity being translated at the historical rates. Revenues and expenses of our foreign subsidiaries are translated at the average exchange rates for the period. The resulting cumulative foreign currency translation adjustments from this process are included as a component of accumulated other comprehensive income (loss). Therefore, the U.S. Dollar value of these items in our financial statements fluctuates from period to period.   Also, exchange gains and losses arising from transactions denominated in a currency other than the functional currency are included in the Condensed Consolidated Statement of Operations as foreign exchange gains and losses.   Shipping and Handling Costs   The Company classifies amounts billed to customers related to shipping and handling as product revenues. The Company records and presents shipping and handling costs in selling expenses. Shipping and handling costs for the three months ended June 30, 2019 and 2018 were $4,714 and $3,764, respectively. Shipping and handling costs for the six months ended June 30, 2019 and 2018 were $9,024 and $8,496 respectively.   Dividends Payable   The company accounts for its dividend declared as a liability under ASC 480 - Distinguishing Liabilities from Equity since the shareholders have the option to elect cash or stock and reclassifies from dividend payable to additional paid-in capital when shareholders elect a stock dividend instead of cash. The dividend payable is not subject to re-measurement at each balance sheet date since the dividend is a fixed monetary amount known at inception and thus no change in fair value adjustment is necessary.   Recently Issued Accounting Pronouncements   In June 2016, FASB issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, (with early application permitted). During 2019, the FASB issued ASU 2019-04 and ASU 2019-05 with Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements.   New Accounting Standards Implemented   In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under ASU 2016-02, a lessee will recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 retains a distinction between finance leases (i.e. capital leases under current GAAP) and operating leases. The classification criteria for distinguishing between finance leases and operating leases will be substantially similar to the classification criteria for distinguishing between capital leases and operating leases under current GAAP. The amendments of this ASU are effective for reporting periods beginning after December 15, 2018, which for the Company is the fiscal year beginning January 1, 2019.   The Company did not adjust the comparative periods presented as the FASB provided entities the option to instead apply the provisions of the new leases guidance using the modified retrospective application approach. The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which allowed the company to not reassess our prior conclusions about lease identification, lease classification and direct costs. The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualified, primarily for certain equipment leases that are month-to-month leases. This means, for those leases, we did not recognize right-of-use assets or lease liabilities. We also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets.   We have identified and analyzed our lease portfolio and evaluated the new reporting and disclosure requirements of the new guidance, and our lease-related processes and internal controls. The adoption of this standard had no material impact to the Company’s financial statements, as, under prior guidance, we had recognized capital leases which correspond to the right-of-use asset and lease liability described under the new guidance. This standard does not have a significant impact on our liquidity or on our debt covenant compliance under our current agreements.   As of January 1, 2019, the Company had $378 finance lease right-of-use assets related to computing equipment and a lease liability for $380 on its Condensed Consolidated Balance Sheet. As of June 30, 2019, the Company had $682 finance lease right-of-use assets related to computing equipment and a lease liability for $650 on its Condensed Consolidated Balance Sheet. The lease agreements include terms to extend the lease, however the Company does not intend to extend its current leases. The weighted average remaining lease term approximates 2.8 years. The right-of-use assets are depreciated and interest expense from the lease liability are recorded on our Condensed Consolidated Statement of Operations.   Additionally, as of June 30, 2019 the Company had a commitment for $102 under operating leases related to short term apartment leases, installation equipment and computing equipment which expire during the current year that have not been capitalized due to their short-term nature. Rental expense from these leases is recognized on our Condensed Consolidated Income Statement as incurred. Finance lease costs, including amortization of the right-of-use assets and interest expense, short term lease cost, and related cashflows have not been material as of June 30, 2019.   Leases Accounting Policy   We determine if an arrangement is a lease at inception. We include finance lease right-of-use assets as part of property and equipment and the lease liability as part of our current portion of long-term debt and long-term debt on our Condensed Consolidated Balance Sheet. Leases considered short-term are not capitalized, given our election not to recognize right-of-use assets and lease liabilities arising from short-term leases, but instead considered operating leases and the resulting rental expense is recognized on our Condensed Consolidated Statement of Operations as incurred.   Finance lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

Note 8. Fair Value Measurements   The Company accounts for financial assets and liabilities in accordance with accounting standards that define fair value and establish a framework for measuring fair value. The hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.   The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and advances from customers approximate their fair value due to their relatively short-term maturities. The Company bases its fair value estimate for long term debt obligations on its internal valuation that all debt is floating rate debt based on current interest rates in Colombia.   As of June 30, 2019, financial instruments carried at amortized cost that do not approximate fair value consist of long-term debt. See Note 7 - Debt. The fair value of long-term debt was calculated based on an analysis of future cash flows discounted with our average cost of debt which is based on market rates, which are level 2 inputs.   The following table summarizes the fair value and carrying amounts of our long-term debt:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 47%; text-align: left">Fair Value</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 23%; text-align: right">266,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 23%; text-align: right">234,163</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Carrying Value</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">220,709</td><td style="text-align: left"> </td></tr></table>

Note 10. Related Parties   The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Sales to related parties</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,624</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">3,984</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,137</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fees paid to directors and officers</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,822</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payments to other related parties</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">674</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,833</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,662</td><td style="text-align: left"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left">Due from VS</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,934</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,229</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Due from other related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,462</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,010</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,396</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,239</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related parties - current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,335</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due to related parties - long term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">600</td><td style="text-align: left"> </td></tr> </table>   The Company also has a note payable which matures in 2022 related to the acquisition GM&P for $8,500 due to the former owner who holds shares of the Company and a management position within the Company.   Ventana Solar S.A. (“VS”), a Panama Sociedad anónima, is an importer and installer of the Company’s products in Panama. Family members of the Company’s CEO and COO and other related parties own 100% of the equity in VS. The Company’s sales to VS for the three months ended June 30, 2019 and 2018 were $855 and $588, respectively. The Company’s sales to VS for the six months ended June 30, 2019 and 2018 were $1,525 and $1,214, respectively.   Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Charitable contributions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">296</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">567</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales commissions</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">336</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">762</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">677</td><td style="text-align: left"> </td></tr> </table>   Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.

Note 12. Commitments and Contingencies   Commitments   As of June 30, 2019, the Company had an outstanding obligation to purchase an aggregate of at least $25,141 of certain raw materials from a specific supplier before May 2026.   General Legal Matters   From time to time, the Company is involved in legal matters arising in the regular course of business. Some disputes are derived directly from our construction projects, related to supply and installation, and even though deemed ordinary, they may involve significant monetary damages. We are also subject to other type of litigations arising from employment practices, worker’s compensation, automobile claims and general liability. It is very difficult to predict precisely what the outcome of these litigations might be. However, with the information at our disposition as this time, there are no indications that such claims will result in a material adverse effect on the business, financial condition or results of operations of the Company.

Note 11. Shareholders’ Equity   Dividends   The Company originally authorized the payment of four regular quarterly dividends to holders of ordinary shares at a quarterly rate of $0.125 per share, or $0.50 per share on an annual basis, with the first quarterly dividend being paid on November 1, 2016. The dividends were payable in cash or ordinary shares, at the option of the holders of ordinary shares. On May 11, 2017, the Company announced that commencing with the declared quarterly dividend for the third quarter of 2017 through any future dividends to be declared and paid through the second quarter of 2018, a 12% increase to $0.14 per share, or $0.56 per share on an annual basis would apply. The Company has continued paying quarterly dividends at this rate through the second quarter of 2019.   As a result, the Company has declared dividends for $12,389 as of June 30, 2019 and recorded a dividend payable amounting to $1,379 as of June 30, 2019. The Company issued 1,214,023 shares for the share dividends resulting in $9,578 being credited to Capital and paid $2,170 in cash during the six months ended June 30, 2019.   The Company analyzed the accounting guidance under ASC 505 and determined that this guidance is not applicable since the dividend are shares of the same class in which each shareholder is given an election to receive cash or shares. As such, the Company analyzed the dividend under ASC 480 — Distinguishing Liabilities from Equity and concluded that the dividend should be accounted for as a liability since the dividend is a fixed monetary amount known at inception. A reclassification from dividend payable to additional paid-in capital was done for the stock dividend elections.   Dividend declarations and the establishment of future record and payment dates are subject to the Board of Directors’ continuing determination that the dividend policy is in the best interests of the Company and its shareholders. The dividend policy may be changed or cancelled at the discretion of the Board of Directors at any time.   Follow-on Equity Offering   On March 25, 2019, the Company closed an underwritten follow-on public offering of 5,000,000 ordinary shares at a price to the public of $7.00 per share. As a result of this offering, the Company received a net amount of $33,050 after deducting underwriting and other related fees, which were credited to share capital and additional paid in capital. Additionally, the Company granted the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less the underwriting discount, which option was exercised on April 3, 2019 with respect to 551,423 ordinary shares.   Proceeds from the offering were subsequently used to complete the joint venture transaction with Saint-Gobain discussed in Note 3. Vidrio Andino Acquisition.   Earnings per Share   The following table sets forth the computation of the basic and diluted earnings per share for the six months ended June 30, 2019 and 2018:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Numerator for basic and diluted earnings per shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Net Income (loss)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,660</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(3,870</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,991</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,749</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Denominator for basic earnings per ordinary share - weighted average shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,840,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,200,792</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,254,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,135,096</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Effect of dilutive securities and stock dividend</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Denominator for diluted earnings per ordinary share - weighted average shares outstanding</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">45,603,939</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">38,200,792</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">43,018,348</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">38,898,772</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic earnings (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.18</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted earnings (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td><td style="text-align: left"> </td></tr> </table>   The effect of dilutive securities includes 763,676 shares for shares potentially issued in relation to the dividends declared. For the quarter ended June 30, 2018, the effect of dilutive securities is excluded from the calculation of diluted earnings per share because including them would be anti-dilutive given the net loss during the period.

Basis of Presentation and Use of Estimates   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by US GAAP.   The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates inherent in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature.   The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.

Principles of Consolidation   These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”) and ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control.

Non-controlling interest   When the Company owns a majority of a subsidiary’s stock, the Company includes in its condensed consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Consolidated Balance Sheet, is equal to the non-controlling proportionate share of the subsidiary’s net assets.

Foreign Currency Translation   The unaudited condensed consolidated financial statements are presented in U.S. Dollars, the reporting currency. Some of our foreign subsidiaries’ local currency is the Colombian Peso, which is also their functional currency as determined by the analysis of markets, costs and expenses, assets, liabilities, financing and cash flow indicators. As such, our subsidiaries’ assets and liabilities are translated at the exchange rate in effect at the balance sheet date, with equity being translated at the historical rates. Revenues and expenses of our foreign subsidiaries are translated at the average exchange rates for the period. The resulting cumulative foreign currency translation adjustments from this process are included as a component of accumulated other comprehensive income (loss). Therefore, the U.S. Dollar value of these items in our financial statements fluctuates from period to period.   Also, exchange gains and losses arising from transactions denominated in a currency other than the functional currency are included in the Condensed Consolidated Statement of Operations as foreign exchange gains and losses.

44858442

79092000

65510000

1389000

703000

36478000

8621000

-2274000

Note 5. – Revenues, Contract Assets and Contract Liabilities   Disaggregation of Total Net Sales   The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Six months ended</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30, </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="width: 44%; font: 10pt Times New Roman, Times, Serif">Fixed price contracts</td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">46,721</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">37,814</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">88,897</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">80,030</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Product sales</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">67,162</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">51,155</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">132,154</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">96,099</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total Revenues</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">113,883</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">88,969</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">221,051</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">176,129</td><td style="text-align: left; padding-bottom: 2.5pt"> </td></tr> </table>   The following table presents geographical information about revenues.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Six months ended</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="width: 44%; font: 10pt Times New Roman, Times, Serif">Colombia</td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">12,165</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">15,557</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">25,153</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">37,381</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">United States</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">99,326</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">69,852</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">191,360</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">132,845</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Panama</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">913</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,043</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,676</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,857</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">1,479</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">2,517</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">2,862</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">4,046</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total Revenues</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">113,883</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">88,969</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">221,051</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">176,129</td><td style="text-align: left; padding-bottom: 2.5pt"> </td></tr> </table>   Contract Assets and Liabilities   Contract assets represent accumulated incurred costs and earned profits on contracts with customers that have been recorded as sales, but have not been billed to customers and are classified as current and a portion of the amounts billed on certain fixed price contracts that are withheld by the customer as a retainage until a final good receipt of the complete project to the customers satisfaction. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue, and represent amounts received in excess of sales recognized on contracts. The Company classifies advance payments and billings in excess of costs incurred as current, and deferred revenue as current or non-current based on the expected timing of sales recognition. Contract assets and contract liabilities are determined on a contract by contract basis at the end of each reporting period. The non-current portion of contract liabilities is included in other liabilities in the Company’s consolidated balance sheets.   The table below presents the components of net contract assets (liabilities).   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Contract assets — current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">50,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">46,018</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets — non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,601</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,986</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities — current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,789</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Contract liabilities — non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(564</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,436</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net contract assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">44,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,779</td><td style="text-align: left"> </td></tr> </table>   The components of contract assets are presented in the table below.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Unbilled contract receivables, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">27,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">21,703</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Retainage</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,537</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,301</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total contract assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">59,181</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">53,004</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,580</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">46,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Contract Assets – non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,601</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,986</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   The components of contract liabilities are presented in the table below.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Billings in excess of costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">3,101</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">4,393</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Advances from customers on uncompleted contracts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,832</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total contract liabilties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,577</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,013</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,789</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Contract liabilities – non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">564</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,436</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   During the three months and six months ended June 30, 2019, the Company recognized $4,041 and $1,759 of sales related to its contract liabilities at January 1, 2019, respectively. During the three and six months ended June 30, 2018, the Company recognized $2,306 and $1,086 of sales related to its contract liabilities at January 1, 2018, respectively.   Remaining Performance Obligations   As of June 30, 2019, the Company had $285.9 million of remaining performance obligations, which represents the transaction price of firm orders minus sales recognized from inception to date. Remaining performance obligations exclude unexercised contract options, verbal commitments and potential orders under basic ordering agreements. The Company expects to recognize 100% of sales relating to existing performance obligations within three years, of which $145.6 million are expected to be recognized during the year ending December 31, 2019, $115.5 million during the year ending December 31, 2020 and $24.9 million thereafter.

Note 6. Intangible Assets   Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane- resistant glass in Florida. Also, it includes the intangibles acquired from the acquisition of GM&P.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">June 30, 2019</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Gross</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Acc. Amort.</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Net</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding: 0">Trade Names</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">980</td><td style="width: 1%; text-align: left; padding: 0"> </td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">(457</td><td style="width: 1%; text-align: left; padding: 0">)</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">523</td><td style="width: 1%; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Notice of Acceptances (NOAs), product designs and other intellectual property</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">10,870</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">(5,822</td><td style="text-align: left; padding: 0">)</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">5,048</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Non-compete Agreement</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">165</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">(77</td><td style="text-align: left; padding: 0">)</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">88</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 1.5pt">Customer Relationships</td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">4,140</td><td style="padding: 0 0 1.5pt; text-align: left"> </td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">(2,069</td><td style="padding: 0 0 1.5pt; text-align: left">)</td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">2,071</td><td style="padding: 0 0 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 2.5pt">Total</td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">16,155</td><td style="padding: 0 0 2.5pt; text-align: left"> </td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">(8,425</td><td style="padding: 0 0 2.5pt; text-align: left">)</td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">7,730</td><td style="padding: 0 0 2.5pt; text-align: left"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Acc. Amort.</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Trade Names</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">980</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(359</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">621</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Notice of Acceptances (NOAs), product designs and other intellectual property</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,373</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-compete Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract Backlog</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,090</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,832</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Customer Relationships</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,626</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,514</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,256</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(10,250</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   The weighted average amortization period is 5.4 years.   During the six months ended June 30, 2019 and 2018, the amortization expense amounted to $1,485 and $1,776, respectively, and was included within the general and administration expenses in our Condensed Consolidated Statement of Operations. Similarly, amortization expense for the three months ended June 30, 2019 and 2018 amounted to $609 and $891, respectively.   The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2019 is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year ending</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 65%; text-align: center">2019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 30%; text-align: right">1,154</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2020</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">789</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">187</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,730</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr></table>

Dividends Payable   The company accounts for its dividend declared as a liability under ASC 480 - Distinguishing Liabilities from Equity since the shareholders have the option to elect cash or stock and reclassifies from dividend payable to additional paid-in capital when shareholders elect a stock dividend instead of cash. The dividend payable is not subject to re-measurement at each balance sheet date since the dividend is a fixed monetary amount known at inception and thus no change in fair value adjustment is necessary. New Accounting Standards Implemented   In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under ASU 2016-02, a lessee will recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 retains a distinction between finance leases (i.e. capital leases under current GAAP) and operating leases. The classification criteria for distinguishing between finance leases and operating leases will be substantially similar to the classification criteria for distinguishing between capital leases and operating leases under current GAAP. The amendments of this ASU are effective for reporting periods beginning after December 15, 2018, which for the Company is the fiscal year beginning January 1, 2019.   The Company did not adjust the comparative periods presented as the FASB provided entities the option to instead apply the provisions of the new leases guidance using the modified retrospective application approach. The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which allowed the company to not reassess our prior conclusions about lease identification, lease classification and direct costs. The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualified, primarily for certain equipment leases that are month-to-month leases. This means, for those leases, we did not recognize right-of-use assets or lease liabilities. We also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets.   We have identified and analyzed our lease portfolio and evaluated the new reporting and disclosure requirements of the new guidance, and our lease-related processes and internal controls. The adoption of this standard had no material impact to the Company’s financial statements, as, under prior guidance, we had recognized capital leases which correspond to the right-of-use asset and lease liability described under the new guidance. This standard does not have a significant impact on our liquidity or on our debt covenant compliance under our current agreements.   As of January 1, 2019, the Company had $378 finance lease right-of-use assets related to computing equipment and a lease liability for $380 on its Condensed Consolidated Balance Sheet. As of June 30, 2019, the Company had $682 finance lease right-of-use assets related to computing equipment and a lease liability for $650 on its Condensed Consolidated Balance Sheet. The lease agreements include terms to extend the lease, however the Company does not intend to extend its current leases. The weighted average remaining lease term approximates 2.8 years. The right-of-use assets are depreciated and interest expense from the lease liability are recorded on our Condensed Consolidated Statement of Operations.   Additionally, as of June 30, 2019 the Company had a commitment for $102 under operating leases related to short term apartment leases, installation equipment and computing equipment which expire during the current year that have not been capitalized due to their short-term nature. Rental expense from these leases is recognized on our Condensed Consolidated Income Statement as incurred. Finance lease costs, including amortization of the right-of-use assets and interest expense, short term lease cost, and related cashflows have not been material as of June 30, 2019.   Leases Accounting Policy   We determine if an arrangement is a lease at inception. We include finance lease right-of-use assets as part of property and equipment and the lease liability as part of our current portion of long-term debt and long-term debt on our Condensed Consolidated Balance Sheet. Leases considered short-term are not capitalized, given our election not to recognize right-of-use assets and lease liabilities arising from short-term leases, but instead considered operating leases and the resulting rental expense is recognized on our Condensed Consolidated Statement of Operations as incurred.   Finance lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

The table below presents the components of net contract assets (liabilities).   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Contract assets — current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">50,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">46,018</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets — non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,601</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,986</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities — current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,789</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Contract liabilities — non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(564</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,436</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net contract assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">44,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,779</td><td style="text-align: left"> </td></tr></table>

The components of contract assets are presented in the table below.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Unbilled contract receivables, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">27,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">21,703</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Retainage</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,537</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,301</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total contract assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">59,181</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">53,004</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,580</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">46,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Contract Assets – non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,601</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,986</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The components of contract liabilities are presented in the table below.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Billings in excess of costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">3,101</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">4,393</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Advances from customers on uncompleted contracts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,832</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total contract liabilties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,577</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,013</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,789</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Contract liabilities – non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">564</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,436</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr></table>

9024000 8496000 3764000 4714000

682000

378000

650000

380000

102000

1759000 1086000 2306000 4041000

17661000

1934000

P5Y4M24D

1485000

1776000

891000

609000

16155000

19256000

980000

10881000

165000

3090000

4140000

980000

10870000

165000

4140000

8425000

10250000

359000

5373000

60000

2832000

1626000

457000

5822000

77000

2069000

7730000

9006000

621000

5508000

105000

258000

2514000

523000

5048000

88000

2071000

1154000

2180000

2150000

1270000

789000

187000

261730000

242106000

5037000

5070000

Few weeks to 10 years

2022

0.075

9788000

19146000

210000000

16641000

17804000

4622000

5015000

262457000

242315000

220709000

250234000

12223000

21606000

234163000

266223000

-0.37

0.33

0.37

0.27

0.32

0.31

0.30

0.37

-0.34

0.265

-1415000

722000

1129000

-903000

-7758000

-2522000

-317000

-4338000

-9173000

-1800000

812000

-5241000

1126000

-1161000

-992000

957000

-809000

-965000

1647000

307000

317000

-2126000

655000

1264000

611000

600000

8500000

1.00

0.70

3984000

2137000

1184000

1525000

1214000

1624000

855000

588000

1822000

1628000

801000

1013000

1833000 1662000 674000 907000

6934000

6229000

2462000

2010000

567000

677000

605000

762000

178000

296000

286000

336000

0.125

0.50

0.14

0.56

0.12

1379000

1214023

9578000 2170000

5000000

7.00

551423

763676

25141000

45000000

34100000

6000000

34100000

P5Y

Note 4. - Inventories, net   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0">June 30, 2019</td><td style="padding: 0; font-weight: bold"> </td><td style="font-weight: bold; padding: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0">December 31, 2018</td><td style="padding: 0; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; text-align: left; padding: 0">Raw materials</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 22%; text-align: right; padding: 0">52,019</td><td style="width: 1%; text-align: left; padding: 0"> </td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 22%; text-align: right; padding: 0">43,744</td><td style="width: 1%; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Work in process</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">28,283</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">25,957</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Finished goods</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">2,023</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">14,251</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Stores and spares</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">7,669</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">7,437</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Packing material</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">999</td><td style="padding: 0; text-align: left"> </td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">540</td><td style="padding: 0; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; text-align: right; padding: 0">90,993</td><td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="font-weight: bold; text-align: left; padding: 0"> </td><td style="font-weight: bold; text-align: right; padding: 0">91,929</td><td style="font-weight: bold; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Less: Inventory allowance</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">(87</td><td style="padding: 0; text-align: left">)</td><td style="padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right">(80</td><td style="padding: 0; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right">90,906</td><td style="padding: 0; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right">91,849</td><td style="padding: 0; font-weight: bold; text-align: left"> </td></tr> </table>

Note 7. Debt   The Company’s debt is comprised of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Revolving lines of credit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">9,788</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">19,146</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">380</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured senior note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,641</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,804</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Syndicated loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Deferred cost of financing</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,015</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total obligations under borrowing arrangements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">262,457</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">242,315</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Current portion of long-term debt and other current borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,606</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Long-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">250,234</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">220,709</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>   As of June 30, 2019, and December 31, 2018, the Company had $261,730 and $242,106 of debt denominated in US Dollars with the remaining amounts denominated in Colombian Pesos.   The Company had $5,070 and $5,037 of property, plant and equipment pledged as collateral for various lines of credit as of June 30, 2019 and December 31, 2018, respectively.   On May 2, 2019, the Company closed a $30 million five-year term debt facility with Banco de Crédito del Perú and Banco Sabadell which bears interest at Libor +2.95%. Proceeds from this long-term debt facility were used towards refinancing short-term debt and partially supporting expected capital expenditure needs for capacity expansion and the automatization of some of our processes. This facility also contains a covenant requiring that the company maintain certain leverage and fixed charge coverage ratios with which the Company is in compliance as of June 30, 2019.   As of June 30, 2019, the Company was obligated under various leases under which the aggregate present value of the minimum lease payments amounted to $650. Differences between lease obligations and the value of property, plant and equipment under capital lease arises from differences between the maturities of capital lease obligations and the useful lives of the underlying assets.   Maturities of long-term debt and other current borrowings are as follows as of June 30, 2019:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 65%; text-align: center">2020</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 30%; text-align: right">12,411</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,988</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,868</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,901</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: center">Total</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">267,077</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   The Company’s loans have maturities ranging from a few weeks to 10 years. Our credit facilities bear interest at a weighted average of rate 7.5%.

Note 9. Income Taxes   The Company files income tax returns for TG, ES and ES Metals in the Republic of Colombia. On December 28, 2018, a tax reform was implemented in Colombia which decreased the corporate income tax rate to 33% for fiscal year 2019, 32% for fiscal year 2020, 31% for fiscal year 2021 and 30% for fiscal year 2022, in comparison with a tax rate of 37% for 2018.   GM&P, Componenti and ESW LLC are U.S. entities based in Florida subject to U.S. federal and state income taxes. The estimated combined state and federal income tax rate is estimated at a rate of 26.5% based on the recently enacted U.S. Tax Reform. Tecnoglass Inc. as well as all the other subsidiaries in the Cayman Islands do not currently have any tax obligations.   The components of income tax expense are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(903</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,129</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,415</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">722</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Colombia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,338</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(317</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,758</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,522</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,173</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,800</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred income Tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">957</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(992</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,161</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Colombia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">307</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,647</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(809</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(965</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">655</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">317</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,126</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax (provision) benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,977</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,467</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,856</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,926</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(34</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left">%</td></tr> </table>   The Company’s weighted average statutory income tax rate is 33%.

Note 13. Subsequent Events   Management concluded that no additional subsequent events required disclosure other than those disclosed in these financial statements.

The following table sets forth the computation of the basic and diluted earnings per share for the six months ended June 30, 2019 and 2018:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Numerator for basic and diluted earnings per shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Net Income (loss)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,660</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(3,870</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,991</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,749</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Denominator for basic earnings per ordinary share - weighted average shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,840,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,200,792</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,254,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,135,096</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Effect of dilutive securities and stock dividend</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">763,676</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Denominator for diluted earnings per ordinary share - weighted average shares outstanding</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">45,603,939</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">38,200,792</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">43,018,348</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">38,898,772</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic earnings (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.18</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted earnings (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.17</td></tr></table>

The components of income tax expense are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(903</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,129</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,415</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">722</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Colombia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,338</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(317</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,758</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,522</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,173</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,800</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred income Tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">957</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(992</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,161</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Colombia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">307</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,647</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(809</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(965</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">655</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">317</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,126</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax (provision) benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,977</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,467</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,856</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,926</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(34</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left">%</td></tr> </table>

Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane- resistant glass in Florida. Also, it includes the intangibles acquired from the acquisition of GM&P.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">June 30, 2019</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Gross</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Acc. Amort.</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding: 0 0 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0">Net</td><td style="padding: 0 0 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding: 0">Trade Names</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">980</td><td style="width: 1%; text-align: left; padding: 0"> </td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">(457</td><td style="width: 1%; text-align: left; padding: 0">)</td><td style="width: 2%; padding: 0"> </td> <td style="width: 1%; text-align: left; padding: 0">$</td><td style="width: 12%; text-align: right; padding: 0">523</td><td style="width: 1%; text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0">Notice of Acceptances (NOAs), product designs and other intellectual property</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">10,870</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">(5,822</td><td style="text-align: left; padding: 0">)</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">5,048</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0">Non-compete Agreement</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">165</td><td style="text-align: left; padding: 0"> </td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">(77</td><td style="text-align: left; padding: 0">)</td><td style="padding: 0"> </td> <td style="text-align: left; padding: 0"> </td><td style="text-align: right; padding: 0">88</td><td style="text-align: left; padding: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 1.5pt">Customer Relationships</td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">4,140</td><td style="padding: 0 0 1.5pt; text-align: left"> </td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">(2,069</td><td style="padding: 0 0 1.5pt; text-align: left">)</td><td style="padding: 0 0 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">2,071</td><td style="padding: 0 0 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 2.5pt">Total</td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">16,155</td><td style="padding: 0 0 2.5pt; text-align: left"> </td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">(8,425</td><td style="padding: 0 0 2.5pt; text-align: left">)</td><td style="padding: 0 0 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right">7,730</td><td style="padding: 0 0 2.5pt; text-align: left"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Acc. Amort.</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Trade Names</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">980</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(359</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">621</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Notice of Acceptances (NOAs), product designs and other intellectual property</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,373</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-compete Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract Backlog</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,090</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,832</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Customer Relationships</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,626</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,514</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,256</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(10,250</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr></table>

The following table presents geographical information about revenues.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Six months ended</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="width: 44%; font: 10pt Times New Roman, Times, Serif">Colombia</td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">12,165</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">15,557</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">25,153</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">37,381</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">United States</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">99,326</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">69,852</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">191,360</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">132,845</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Panama</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">913</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,043</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,676</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1,857</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">1,479</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">2,517</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">2,862</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">4,046</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total Revenues</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">113,883</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">88,969</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">221,051</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">176,129</td><td style="text-align: left; padding-bottom: 2.5pt"> </td></tr> </table>

The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Six months ended</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30, </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">June 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="width: 44%; font: 10pt Times New Roman, Times, Serif">Fixed price contracts</td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">46,721</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">37,814</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">88,897</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td><td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td><td style="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif">80,030</td><td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Product sales</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">67,162</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">51,155</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">132,154</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">96,099</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total Revenues</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">113,883</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">88,969</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">221,051</td><td style="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">$</td><td style="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double">176,129</td><td style="text-align: left; padding-bottom: 2.5pt"> </td></tr></table>

3101000 4393000 Shipping and Handling Costs   The Company classifies amounts billed to customers related to shipping and handling as product revenues. The Company records and presents shipping and handling costs in selling expenses. Shipping and handling costs for the three months ended June 30, 2019 and 2018 were $4,714 and $3,764, respectively. Shipping and handling costs for the six months ended June 30, 2019 and 2018 were $9,024 and $8,496 respectively.

20781000

17704000

8567000

11219000

17448000

16074000

8453000

9354000

524000

-413000

11344000 10411000 5361000 5757000 12389000

14991000

6749000

-3870000

7660000

14817000

7033000

-3658000

7479000

false Yes Yes

44978000

-22000

3606000

14598000

-10998000

47638000

33040000

29925000

40923000

Note 3. – Long-term Investments   Saint-Gobain Joint Venture   On January 11, 2019, we entered into a joint venture agreement with Saint-Gobain, a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8% minority ownership interest in Vidrio Andino Holdings S.A.S (“Vidrio Andino”), a Colombia-based subsidiary of Compagnie de Saint-Gobain S.A. (“Saint-Gobain”). The purchase price for our interest in this entity was $45 million, of which $34.1 was paid in cash, and $10.9 million is to be paid with a piece of land near our existing facility in Barranquilla. The land will be contributed on our behalf by our Chief Executive Officer and Chief Operating Officer, José M. Daes and Christian T. Daes in exchange for cash or shares of the Company and subject to an external valuation to support an arm´s length transaction. The land will serve the purpose of developing a second float glass plant nearby our existing manufacturing facilities which we expect to carry significant efficiencies for us once it becomes operative. Vidrio Andino’s float glass plant located in the outskirts of Bogota, Colombia, has been one of our main suppliers of raw glass. We believe this transaction will solidify our vertical integration strategy by acquiring an interest in the first stage of our production chain, while securing ample glass supply for our expected production needs.   On May 3, 2019, we consummated the joint venture agreement acquiring a 25.8% minority ownership interest in Vidrio Andino with a cash payment of $34.1 million, and the land still to be contributed by January 2020, as per the agreement. As of that date the Company recorded the investment within Long-term assets on the Company’s Condensed Consolidated Balance Sheet for $45.0 million and a liability for $10.9 million within current liabilities on the Company’s Condensed Consolidated Balance to be settled with the contribution of the aforementioned piece of land. Since the date of the acquisition, we have recognized the proportional share of Vidrio Andino’s net income using the equity method on the Condensed Consolidated Statement of Operations and Other Comprehensive Income as the Company is deemed to have significant influence, but does not have effective control of Vidrio Andino.   Establishment of a new subsidiary   In April 2019, ESMetals, a Colombian entity in which the Company has 70% equity interest began operations. ESMetals serves as a metalwork contractor to supply the Company with steel accessories used in the assembly of certain architectural systems as part of our vertical integration strategy. When the company owns a majority (but less than 100%) of a subsidiary’s stock, the Company includes in its Consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling interests’ proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Condensed Consolidated Balance Sheet, is equal to the non-controlling interests’ proportionate share of the subsidiary’s net assets. In determining the fair value we used the income approach and the market approach which was performed by third party valuation specialists under management.

1.00

24900000

0.258

30000000

0.0295

30000000

33050000

38229000

33778000

17020000

20573000

8856000

3926000

-1467000

3977000

0.33

750000

12411000

5508000

219988000

11400000

12868000

4901000

267077000

10900000

P2Y9M18D

45000000

10900000

EX-101.SCH 6 tgls-20190630.xsd XBRL SCHEMA FILE 00000001 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - General link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Long-term Investments link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Inventories, Net link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Revenues, Contract Assets and Contract Liabilities link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Intangible Assets link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Debt link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Related Parties link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Shareholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Inventories, Net (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Revenues, Contract Assets and Contract Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Intangible Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Debt (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Fair Value Measurements (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Income Taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Related Parties (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Shareholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Long-term Investments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Inventories, Net - Schedule of Inventories (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Revenues, Contract Assets and Contract Liabilities (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Disaggregation by Revenue (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Geographical Information of Revenue from External Customer (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets and Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Intangible Assets (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Debt (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Debt - Schedule of Long Term Debt (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Debt - Schedule of Maturities of Long Term Debt (Details) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - Fair Value Measurements - Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - Related Parties (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - Related Parties - Schedule of Related Parties (Details) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - Related Parties - Schedule of Payments to Other Related Parties (Details) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - Shareholders' Equity (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - Shareholders' Equity - Schedule of Earnings Per Share, Basic and Diluted (Details) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - Commitments and Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 tgls-20190630_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 tgls-20190630_def.xml XBRL DEFINITION FILE EX-101.LAB 9 tgls-20190630_lab.xml XBRL LABEL FILE Tax Period [Axis] Tax Year 2019 [Member] Equity Components [Axis] Ordinary Shares [Member] Additional Paid in Capital [Member] Retained Earnings [Member] Accumulated Other Comprehensive Loss [Member] Non-Controlling Interest [Member] Total Shareholders' Equity [Member] Finite-Lived Intangible Assets by Major Class [Axis] Trade Names [Member] Notice of Acceptances (NOAs), Product Designs and Other Intellectual Property [Member] Non-compete Agreement [Member] Contract Backlog [Member] Customer Relationships [Member] Asset Class [Axis] Property, Plant and Equipment [Member] Fair Value, Hierarchy [Axis] Fair Value, Inputs, Level 2 [Member] Legal Reserve [Member] Product and Service [Axis] External Customers [Member] Related Parties [Member] Contract Assets [Member] Liability Class [Axis] Contract Liabilities [Member] Fixed Price Contracts [Member] Product Sales [Member] Geographical [Axis] Colombia [Member] United States [Member] Panama [Member] Other [Member] Tax Year 2020 [Member] Tax Year 2021 [Member] Tax Year 2022 [Member] Tax Year 2018 [Member] Business Acquisition [Axis] GM&P [Member] Title of Individual [Axis] CEO, COO and Other Related Parties [Member] Related Party Transaction [Axis] Ventana Solar S.A. [Member] Related Party [Axis] Charitable Contributions [Member] Sales Commissions [Member] Award Date [Axis] Quarterly Rate [Member] Annual Basis [Member] Cash and Cash Equivalents [Axis] Capital [Member] Cash [Member] Sale of Stock [Axis] Follow-on Equity Offering [Member] Underwriters [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Saint-Gobain Joint Venture Agreement [Member] Ownership [Axis] Vidrio Andino Holdings S.A.S [Member] Former Owner [Member] Adjustments for New Accounting Pronouncements [Axis] ASU 2016-02 [Member] ESMetals [Member] Credit Facility [Axis] Debt Facility [Member] Lender Name [Axis] Banco de Crédito del Perú and Banco Sabadell [Member] Variable Rate [Axis] London Interbank Offered Rate (LIBOR) [Member] Property, Plant and Equipment, Type [Axis] Land [Member] Document And Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Current Reporting Status Entity Interactive Data Current Entity Filer Category Entity Small Business Flag Entity Emerging Growth Company Entity Ex Transition Period Entity Shell Company Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets: Cash and cash equivalents Investments Trade accounts receivable, net Due from related parties Inventories Contract assets - current portion Other current assets Total current assets Long term assets: Property, plant and equipment, net Deferred income taxes Contract assets - non-current Intangible Assets Goodwill Long term investments Other long term assets Total long term assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt and current portion of long-term debt Trade accounts payable and accrued expenses Accrued interest expense Due to related parties Dividends payable Contract liability - current portion Due to equity partners Other current liabilities Total current liabilities Long term liabilities: Deferred income taxes Long Term Payable associated to GM&P acquisition Long term receivables from related parties Contract liability - non-current Long term debt Total Long Term Liabilities Total liabilities COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2019 and December 31, 2018 respectively Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 44,858,442 and 38,092,996 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively Legal Reserves Additional paid-in capital Retained earnings Accumulated other comprehensive (loss) Shareholders' equity attributable to controlling interest Shareholders' equity attributable to non-controlling interest Total shareholders' equity Total liabilities and shareholders' equity Preferred shares, par value Preferred shares, shares authorized Preferred shares, shares issued Preferred shares, shares outstanding Ordinary shares, par value Ordinary shares, shares authorized Ordinary shares, shares issued Ordinary shares, shares outstanding Statement [Table] Statement [Line Items] Operating revenues: Total operating revenues Cost of sales Gross Profit Operating expenses: Selling expense General and administrative expense Total Operating Expenses Operating income Non-operating income Equity method income (loss) Foreign currency transactions (losses) gains Interest expense and deferred cost of financing Income (loss) before taxes Income tax (provision) benefit Net income (loss) (Income) loss attributable to non-controlling interest Income (loss) attributable to parent Comprehensive income: Net income (loss) Foreign currency translation adjustments Total comprehensive income (loss) Comprehensive (income) loss attributable to non-controlling interest Total comprehensive income (loss) attributable to parent Basic income (loss) per share Diluted income (loss) per share Basic weighted average common shares outstanding Diluted weighted average common shares outstanding Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Net income Adjustments to reconcile net income to net cash provided by (used in) operating activities: Provision for bad debts Provision for obsolete inventory Depreciation and amortization Deferred income taxes Director stock compensation Equity method loss (income) Other non-cash adjustments Changes in operating assets and liabilities: Trade accounts receivables Inventories EX-101.PRE 10 tgls-20190630_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2019 shares
Document And Entity Information [Abstract]
Entity Registrant Name	Tecnoglass Inc.
Entity Central Index Key	0001534675
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	44,858,442
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

XML 12 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 47,638	$ 33,040
Investments	2,336	1,163
Trade accounts receivable, net	110,661	92,791
Due from related parties	9,396	8,239
Inventories	90,906	91,849
Contract assets - current portion	50,580	46,018
Other current assets	21,773	20,299
Total current assets	333,290	293,399
Long term assets:
Property, plant and equipment, net	155,900	149,199
Deferred income taxes	3,260	4,770
Contract assets - non-current	8,601	6,986
Intangible Assets	7,731	9,006
Goodwill	23,561	23,561
Long term investments	44,978
Other long term assets	3,170	2,853
Total long term assets	247,201	196,375
Total assets	580,491	489,774
Current liabilities:
Short-term debt and current portion of long-term debt	12,223	21,606
Trade accounts payable and accrued expenses	79,092	65,510
Accrued interest expense	7,768	7,567
Due to related parties	4,335	1,500
Dividends payable	1,379	736
Contract liability - current portion	14,013	16,789
Due to equity partners	10,900
Other current liabilities	8,579	8,887
Total current liabilities	138,289	122,595
Long term liabilities:
Deferred income taxes	689	2,706
Long Term Payable associated to GM&P acquisition	8,500	8,500
Long term receivables from related parties	611	600
Contract liability - non-current	564	1,436
Long term debt	250,234	220,709
Total Long Term Liabilities	260,598	233,951
Total liabilities	398,887	356,546
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2019 and December 31, 2018 respectively
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 44,858,442 and 38,092,996 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	4	4
Legal Reserves	1,367	1,367
Additional paid-in capital	203,660	157,604
Retained earnings	12,867	10,439
Accumulated other comprehensive (loss)	(37,340)	(37,058)
Shareholders' equity attributable to controlling interest	180,558	132,356
Shareholders' equity attributable to non-controlling interest	1,046	872
Total shareholders' equity	181,604	133,228
Total liabilities and shareholders' equity	$ 580,491	$ 489,774

XML 13 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred shares, par value	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, shares issued	44,858,442	38,092,996
Ordinary shares, shares outstanding	44,858,442	38,092,996

XML 14 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating revenues:
Total operating revenues	$ 113,883	$ 88,969	$ 221,051	$ 176,129
Cost of sales	75,046	64,327	150,322	124,739
Gross Profit	38,837	24,642	70,729	51,390
Operating expenses:
Selling expense	(11,219)	(8,567)	(20,781)	(17,704)
General and administrative expense	(9,354)	(8,453)	(17,448)	(16,074)
Total Operating Expenses	(20,573)	(17,020)	(38,229)	(33,778)
Operating income	18,264	7,622	32,500	17,612
Non-operating income	353	709	628	1,808
Equity method income (loss)	(22)		(22)
Foreign currency transactions (losses) gains	(1,201)	(8,307)	2,085	1,666
Interest expense and deferred cost of financing	(5,757)	(5,361)	(11,344)	(10,411)
Income (loss) before taxes	11,637	(5,337)	23,847	10,675
Income tax (provision) benefit	(3,977)	1,467	(8,856)	(3,926)
Net income (loss)	7,660	(3,870)	14,991	6,749
(Income) loss attributable to non-controlling interest	(181)	212	(174)	284
Income (loss) attributable to parent	7,479	(3,658)	14,817	7,033
Comprehensive income:
Net income (loss)	7,660	(3,870)	14,991	6,749
Foreign currency translation adjustments	(2,052)	(6,139)	(282)	2,562
Total comprehensive income (loss)	5,608	(10,009)	14,709	9,311
Comprehensive (income) loss attributable to non-controlling interest	(181)	212	(174)	284
Total comprehensive income (loss) attributable to parent	$ 5,427	$ (9,797)	$ 14,535	$ 9,595
Basic income (loss) per share	$ 0.17	$ (0.10)	$ 0.35	$ 0.18
Diluted income (loss) per share	$ 0.17	$ (0.10)	$ 0.35	$ 0.17
Basic weighted average common shares outstanding	44,840,263	38,200,792	42,254,672	38,135,096
Diluted weighted average common shares outstanding	45,603,939	38,200,792	43,018,348	38,898,772
External Customers [Member]
Operating revenues:
Total operating revenues	$ 112,259	$ 87,785	$ 217,067	$ 173,992
Related Parties [Member]
Operating revenues:
Total operating revenues	$ 1,624	$ 1,184	$ 3,984	$ 2,137

XML 15 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 14,991	$ 6,749
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for bad debts	524	(413)
Provision for obsolete inventory		27
Depreciation and amortization	11,558	11,458
Deferred income taxes	(317)	2,126
Director stock compensation		142
Equity method loss (income)	22
Other non-cash adjustments	836	679
Changes in operating assets and liabilities:
Trade accounts receivables	(16,836)	(3,952)
Inventories	2,078	(7,329)
Prepaid expenses	(1,232)	(425)
Other assets	(1,279)	(91)
Trade accounts payable and accrued expenses	8,621	(2,274)
Accrued interest expense	194	41
Taxes payable	(1,787)	(10,617)
Labor liabilities	(327)	(114)
Related parties	1,795	1,279
Contract assets and liabilities	(9,793)	(3,735)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	9,048	(6,449)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of investments	638	367
Acquisition of businesses	(34,100)	(6,000)
Purchase of investments	(676)	(662)
Acquisition of property and equipment	(13,778)	(4,889)
CASH USED IN INVESTING ACTIVITIES	(47,916)	(11,184)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	36,656	9,067
Cash dividend	(2,170)	(1,359)
Proceeds from equity offering	36,478
Repayments of debt	(17,661)	(1,934)
CASH PROVIDED BY FINANCING ACTIVITIES	53,303	5,774
Effect of exchange rate changes on cash and cash equivalents	163	861
NET INCREASE (DECREASE) IN CASH	14,598	(10,998)
CASH - Beginning of period	33,040	40,923
CASH - End of period	47,638	29,925
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	9,529	9,074
Income Tax	8,369	5,517
NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt	1,389	703
Gain in extinguishment of GM&P payment settlement		$ 3,606

XML 16 R6.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Ordinary Shares [Member]	Additional Paid in Capital [Member]	Legal Reserve [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total Shareholders' Equity [Member]	Non-Controlling Interest [Member]	Total
Balance beginning at Dec. 31, 2017	$ 3	$ 125,317	$ 1,367	$ 22,212	$ (28,651)	$ 120,248	$ 1,417	$ 121,665
Balance beginning, shares at Dec. 31, 2017	34,836,575
Issuance of common stock		34				34		34
Issuance of common stock, shares	4,564
Adoption of ASC 606				(187)		(187)		(187)
Stock dividend	$ 1	4,128		(4,947)		(818)		(818)
Stock dividend, shares	499,080
Foreign currency translation					8,701	8,701		8,701
Net Income				10,691		10,691	(72)	10,619
Balance ending at Mar. 31, 2018	$ 4	129,479	1,367	27,769	(19,950)	138,669	1,345	140,014
Balance ending, shares at Mar. 31, 2018	35,340,219
Balance beginning at Dec. 31, 2017	$ 3	125,317	1,367	22,212	(28,651)	120,248	1,417	121,665
Balance beginning, shares at Dec. 31, 2017	34,836,575
Foreign currency translation								2,562
Net Income								6,749
Balance ending at Jun. 30, 2018	$ 4	148,375	1,367	19,029	(26,089)	142,686	1,133	143,819
Balance ending, shares at Jun. 30, 2018	37,041,669
Balance beginning at Mar. 31, 2018	$ 4	129,479	1,367	27,769	(19,950)	138,669	1,345	140,014
Balance beginning, shares at Mar. 31, 2018	35,340,219
Issuance of common stock		14,500				14,500		14,500
Issuance of common stock, shares	1,238,095
Adoption of ASC 606
Stock dividend		4,396		(5,082)		(686)		(686)
Stock dividend, shares	463,355
Foreign currency translation					(6,139)	(6,139)		(6,139)
Net Income				(3,658)		(3,658)	(212)	(3,870)
Balance ending at Jun. 30, 2018	$ 4	148,375	1,367	19,029	(26,089)	142,686	1,133	143,819
Balance ending, shares at Jun. 30, 2018	37,041,669
Balance beginning at Dec. 31, 2018	$ 4	157,604	1,367	10,439	(37,058)	132,356	872	133,228
Balance beginning, shares at Dec. 31, 2018	38,092,996
Issuance of common stock		33,050				33,050		33,050
Issuance of common stock, shares	5,000,000
Stock dividend		5,162		(6,109)		(947)		(947)
Stock dividend, shares	538,657
Foreign currency translation					1,770	1,770		1,770
Net Income				7,338		7,338	(7)	7,331
Balance ending at Mar. 31, 2019	$ 4	195,816	1,367	11,668	(35,288)	173,567	865	174,432
Balance ending, shares at Mar. 31, 2019	43,631,653
Balance beginning at Dec. 31, 2018	$ 4	157,604	1,367	10,439	(37,058)	132,356	872	133,228
Balance beginning, shares at Dec. 31, 2018	38,092,996
Foreign currency translation								(282)
Net Income								14,991
Balance ending at Jun. 30, 2019	$ 4	203,660	1,367	12,867	(37,340)	180,558	1,046	181,604
Balance ending, shares at Jun. 30, 2019	44,858,442
Balance beginning at Mar. 31, 2019	$ 4	195,816	1,367	11,668	(35,288)	173,567	865	174,432
Balance beginning, shares at Mar. 31, 2019	43,631,653
Issuance of common stock		3,428				3,428		3,428
Issuance of common stock, shares	551,423
Stock dividend		4,416		(6,280)		(1,864)		(1,864)
Stock dividend, shares	675,366
Foreign currency translation					(2,052)	(2,052)		(2,052)
Net Income				7,479		7,479	181	7,660
Balance ending at Jun. 30, 2019	$ 4	$ 203,660	$ 1,367	$ 12,867	$ (37,340)	$ 180,558	$ 1,046	$ 181,604
Balance ending, shares at Jun. 30, 2019	44,858,442

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

XML 17 R7.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Ordinary shares, par value	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001

XML 18 R8.htm IDEA: XBRL DOCUMENT

General

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

Note 1. General

Business Description

XML 19 R9.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Note 2. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Use of Estimates

Principles of Consolidation

Non-controlling interest

Foreign Currency Translation

Shipping and Handling Costs

Dividends Payable

Recently Issued Accounting Pronouncements

New Accounting Standards Implemented

Leases Accounting Policy

XML 20 R10.htm IDEA: XBRL DOCUMENT

Long-term Investments

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-term Investments

Note 3. – Long-term Investments

Saint-Gobain Joint Venture

Establishment of a new subsidiary

XML 21 R11.htm IDEA: XBRL DOCUMENT

Inventories, Net

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories, Net

Note 4. - Inventories, net

	June 30, 2019			December 31, 2018
Raw materials	$	52,019		$	43,744
Work in process		28,283			25,957
Finished goods		2,023			14,251
Stores and spares		7,669			7,437
Packing material		999			540
		90,993			91,929
Less: Inventory allowance		(87	)		(80	)
	$	90,906		$	91,849

XML 22 R12.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities

6 Months Ended

Jun. 30, 2019

Operating revenues:

Revenues, Contract Assets and Contract Liabilities

Note 5. – Revenues, Contract Assets and Contract Liabilities

Disaggregation of Total Net Sales

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Fixed price contracts	$	46,721	$	37,814	$	88,897	$	80,030
Product sales		67,162		51,155		132,154		96,099
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

The following table presents geographical information about revenues.

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Colombia	$	12,165	$	15,557	$	25,153	$	37,381
United States		99,326		69,852		191,360		132,845
Panama		913		1,043		1,676		1,857
Other		1,479		2,517		2,862		4,046
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

Contract Assets and Liabilities

The table below presents the components of net contract assets (liabilities).

	June 30, 2019			December 31, 2018
Contract assets — current	$	50,580		$	46,018
Contract assets — non-current		8,601			6,986
Contract liabilities — current		(14,013	)		(16,789	)
Contract liabilities — non-current		(564	)		(1,436	)
Net contract assets	$	44,604		$	34,779

The components of contract assets are presented in the table below.

	June 30, 2019		December 31, 2018
Unbilled contract receivables, gross	$	27,644	$	21,703
Retainage		31,537		31,301
Total contract assets		59,181		53,004
Less: current portion		50,580		46,018
Contract Assets – non-current	$	8,601	$	6,986

The components of contract liabilities are presented in the table below.

	June 30, 2019		December 31, 2018
Billings in excess of costs	$	3,101		4,393
Advances from customers on uncompleted contracts		11,476		13,832
Total contract liabilties		14,577		18,225
Less: current portion		14,013		16,789
Contract liabilities – non-current	$	564		1,436

Remaining Performance Obligations

XML 23 R13.htm IDEA: XBRL DOCUMENT

Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 6. Intangible Assets

	June 30, 2019
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(457	)	$	523
Notice of Acceptances (NOAs), product designs and other intellectual property		10,870		(5,822	)		5,048
Non-compete Agreement		165		(77	)		88
Customer Relationships		4,140		(2,069	)		2,071
Total	$	16,155	$	(8,425	)	$	7,730

	December 31, 2018
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(359	)	$	621
Notice of Acceptances (NOAs), product designs and other intellectual property		10,881		(5,373	)		5,508
Non-compete Agreement		165		(60	)		105
Contract Backlog		3,090		(2,832	)		258
Customer Relationships		4,140		(1,626	)		2,514
Total	$	19,256	$	(10,250	)	$	9,006

The weighted average amortization period is 5.4 years.

The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2019 is as follows:

Year ending	(in thousands)
2019	$	1,154
2020		2,180
2021		2,150
2022		1,270
2023		789
Thereafter		187
	$	7,730

XML 24 R14.htm IDEA: XBRL DOCUMENT

Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

Note 7. Debt

The Company’s debt is comprised of the following:

	June 30, 2019			December 31, 2018
Revolving lines of credit	$	9,788		$	19,146
Finance lease		650			380
Unsecured senior note		210,000			210,000
Other loans		16,641			17,804
Syndicated loan		30,000			-
Less: Deferred cost of financing		(4,622	)		(5,015	)
Total obligations under borrowing arrangements		262,457			242,315
Less: Current portion of long-term debt and other current borrowings		12,223			21,606
Long-term debt	$	250,234		$	220,709

As of June 30, 2019, and December 31, 2018, the Company had $261,730 and $242,106 of debt denominated in US Dollars with the remaining amounts denominated in Colombian Pesos.

The Company had $5,070 and $5,037 of property, plant and equipment pledged as collateral for various lines of credit as of June 30, 2019 and December 31, 2018, respectively.

Maturities of long-term debt and other current borrowings are as follows as of June 30, 2019:

2020	$	12,411
2021		5,508
2022		219,988
2023		11,400
2024		12,868
Thereafter		4,901
Total	$	267,077

The Company’s loans have maturities ranging from a few weeks to 10 years. Our credit facilities bear interest at a weighted average of rate 7.5%.

XML 25 R15.htm IDEA: XBRL DOCUMENT

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 8. Fair Value Measurements

The following table summarizes the fair value and carrying amounts of our long-term debt:

	June 30, 2019		December 31, 2018
Fair Value		266,223		234,163
Carrying Value		250,234		220,709

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 26 R16.htm IDEA: XBRL DOCUMENT

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

The components of income tax expense are as follows:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Current income tax
United States	$	(903	)	$	1,129		$	(1,415	)	$	722
Colombia		(4,338	)		(317	)		(7,758	)		(2,522	)
		(5,241	)		812			(9,173	)		(1,800	)
Deferred income Tax
United States		957			(992	)		1,126			(1,161	)
Colombia		307			1,647			(809	)		(965	)
		1,264			655			317			(2,126	)
Total income tax (provision) benefit	$	(3,977	)	$	1,467		$	(8,856	)	$	(3,926	)

Effective tax rate		(34	%)		27	%		(37	%)		37	%

The Company’s weighted average statutory income tax rate is 33%.

XML 27 R17.htm IDEA: XBRL DOCUMENT

Related Parties

6 Months Ended

Jun. 30, 2019

Related Parties

Note 10. Related Parties

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Sales to related parties	$	1,624	$	1,184	$	3,984	$	2,137

Fees paid to directors and officers	$	1,013	$	801	$	1,822	$	1,628
Payments to other related parties	$	907	$	674	$	1,833	$	1,662

	June 30, 2019		December 31, 2018
Current Assets:
Due from VS	$	6,934	$	6,229
Due from other related parties		2,462		2,010
	$	9,396	$	8,239

Liabilities:
Due to related parties - current	$	4,335	$	1,500
Due to related parties - long term	$	611	$	600

Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Charitable contributions	$	178	$	296	$	605	$	567
Sales commissions	$	286	$	336	$	762	$	677

Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.

XML 28 R18.htm IDEA: XBRL DOCUMENT

Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Shareholders' Equity

Note 11. Shareholders’ Equity

Dividends

Follow-on Equity Offering

Proceeds from the offering were subsequently used to complete the joint venture transaction with Saint-Gobain discussed in Note 3. Vidrio Andino Acquisition.

Earnings per Share

The following table sets forth the computation of the basic and diluted earnings per share for the six months ended June 30, 2019 and 2018:

	Three months ended June 30,					Six months ended June 30,
	2019		2018			2019		2018
Numerator for basic and diluted earnings per shares
Net Income (loss)	$	7,660	$	(3,870	)	$	14,991	$	6,749

Denominator
Denominator for basic earnings per ordinary share - weighted average shares outstanding		44,840,263		38,200,792			42,254,672		38,135,096
Effect of dilutive securities and stock dividend		763,676		-			763,676		763,676
Denominator for diluted earnings per ordinary share - weighted average shares outstanding		45,603,939		38,200,792			43,018,348		38,898,772
Basic earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.18
Diluted earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.17

XML 29 R19.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 12. Commitments and Contingencies

Commitments

As of June 30, 2019, the Company had an outstanding obligation to purchase an aggregate of at least $25,141 of certain raw materials from a specific supplier before May 2026.

General Legal Matters

XML 30 R20.htm IDEA: XBRL DOCUMENT

Subsequent Events

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Note 13. Subsequent Events

Management concluded that no additional subsequent events required disclosure other than those disclosed in these financial statements.

XML 31 R21.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by US GAAP. The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates inherent in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature. The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”) and ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control.
Non-Controlling Interest	Non-controlling interest When the Company owns a majority of a subsidiary’s stock, the Company includes in its condensed consolidated Financial Statements the non-controlling interest in the subsidiary. The non-controlling interest in the Condensed Consolidated Statements of Operations and Other Comprehensive Income is equal to the non-controlling proportionate share of the subsidiary’s net income and, as included in Shareholders’ Equity on the Consolidated Balance Sheet, is equal to the non-controlling proportionate share of the subsidiary’s net assets.
Foreign Currency Translation	Foreign Currency Translation The unaudited condensed consolidated financial statements are presented in U.S. Dollars, the reporting currency. Some of our foreign subsidiaries’ local currency is the Colombian Peso, which is also their functional currency as determined by the analysis of markets, costs and expenses, assets, liabilities, financing and cash flow indicators. As such, our subsidiaries’ assets and liabilities are translated at the exchange rate in effect at the balance sheet date, with equity being translated at the historical rates. Revenues and expenses of our foreign subsidiaries are translated at the average exchange rates for the period. The resulting cumulative foreign currency translation adjustments from this process are included as a component of accumulated other comprehensive income (loss). Therefore, the U.S. Dollar value of these items in our financial statements fluctuates from period to period. Also, exchange gains and losses arising from transactions denominated in a currency other than the functional currency are included in the Condensed Consolidated Statement of Operations as foreign exchange gains and losses.
Shipping and Handling Costs	Shipping and Handling Costs The Company classifies amounts billed to customers related to shipping and handling as product revenues. The Company records and presents shipping and handling costs in selling expenses. Shipping and handling costs for the three months ended June 30, 2019 and 2018 were $4,714 and $3,764, respectively. Shipping and handling costs for the six months ended June 30, 2019 and 2018 were $9,024 and $8,496 respectively.
Dividends Payable	Dividends Payable The company accounts for its dividend declared as a liability under ASC 480 - Distinguishing Liabilities from Equity since the shareholders have the option to elect cash or stock and reclassifies from dividend payable to additional paid-in capital when shareholders elect a stock dividend instead of cash. The dividend payable is not subject to re-measurement at each balance sheet date since the dividend is a fixed monetary amount known at inception and thus no change in fair value adjustment is necessary.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, FASB issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, (with early application permitted). During 2019, the FASB issued ASU 2019-04 and ASU 2019-05 with Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements.
New Accounting Standards Implemented	New Accounting Standards Implemented In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under ASU 2016-02, a lessee will recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 retains a distinction between finance leases (i.e. capital leases under current GAAP) and operating leases. The classification criteria for distinguishing between finance leases and operating leases will be substantially similar to the classification criteria for distinguishing between capital leases and operating leases under current GAAP. The amendments of this ASU are effective for reporting periods beginning after December 15, 2018, which for the Company is the fiscal year beginning January 1, 2019. The Company did not adjust the comparative periods presented as the FASB provided entities the option to instead apply the provisions of the new leases guidance using the modified retrospective application approach. The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which allowed the company to not reassess our prior conclusions about lease identification, lease classification and direct costs. The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualified, primarily for certain equipment leases that are month-to-month leases. This means, for those leases, we did not recognize right-of-use assets or lease liabilities. We also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets. We have identified and analyzed our lease portfolio and evaluated the new reporting and disclosure requirements of the new guidance, and our lease-related processes and internal controls. The adoption of this standard had no material impact to the Company’s financial statements, as, under prior guidance, we had recognized capital leases which correspond to the right-of-use asset and lease liability described under the new guidance. This standard does not have a significant impact on our liquidity or on our debt covenant compliance under our current agreements. As of January 1, 2019, the Company had $378 finance lease right-of-use assets related to computing equipment and a lease liability for $380 on its Condensed Consolidated Balance Sheet. As of June 30, 2019, the Company had $682 finance lease right-of-use assets related to computing equipment and a lease liability for $650 on its Condensed Consolidated Balance Sheet. The lease agreements include terms to extend the lease, however the Company does not intend to extend its current leases. The weighted average remaining lease term approximates 2.8 years. The right-of-use assets are depreciated and interest expense from the lease liability are recorded on our Condensed Consolidated Statement of Operations. Additionally, as of June 30, 2019 the Company had a commitment for $102 under operating leases related to short term apartment leases, installation equipment and computing equipment which expire during the current year that have not been capitalized due to their short-term nature. Rental expense from these leases is recognized on our Condensed Consolidated Income Statement as incurred. Finance lease costs, including amortization of the right-of-use assets and interest expense, short term lease cost, and related cashflows have not been material as of June 30, 2019. Leases Accounting Policy We determine if an arrangement is a lease at inception. We include finance lease right-of-use assets as part of property and equipment and the lease liability as part of our current portion of long-term debt and long-term debt on our Condensed Consolidated Balance Sheet. Leases considered short-term are not capitalized, given our election not to recognize right-of-use assets and lease liabilities arising from short-term leases, but instead considered operating leases and the resulting rental expense is recognized on our Condensed Consolidated Statement of Operations as incurred. Finance lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

XML 32 R22.htm IDEA: XBRL DOCUMENT

Inventories, Net (Tables)

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories

	June 30, 2019			December 31, 2018
Raw materials	$	52,019		$	43,744
Work in process		28,283			25,957
Finished goods		2,023			14,251
Stores and spares		7,669			7,437
Packing material		999			540
		90,993			91,929
Less: Inventory allowance		(87	)		(80	)
	$	90,906		$	91,849

XML 33 R23.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Disaggregation by Revenue

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Fixed price contracts	$	46,721	$	37,814	$	88,897	$	80,030
Product sales		67,162		51,155		132,154		96,099
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

Schedule of Geographical Information of Revenue from External Customer

The following table presents geographical information about revenues.

	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Colombia	$	12,165	$	15,557	$	25,153	$	37,381
United States		99,326		69,852		191,360		132,845
Panama		913		1,043		1,676		1,857
Other		1,479		2,517		2,862		4,046
Total Revenues	$	113,883	$	88,969	$	221,051	$	176,129

Schedule of Contract Assets and Liabilities

The table below presents the components of net contract assets (liabilities).

	June 30, 2019			December 31, 2018
Contract assets — current	$	50,580		$	46,018
Contract assets — non-current		8,601			6,986
Contract liabilities — current		(14,013	)		(16,789	)
Contract liabilities — non-current		(564	)		(1,436	)
Net contract assets	$	44,604		$	34,779

Contract Liabilities [Member]

Schedule of Contract Assets and Liabilities

The components of contract liabilities are presented in the table below.

	June 30, 2019		December 31, 2018
Billings in excess of costs	$	3,101		4,393
Advances from customers on uncompleted contracts		11,476		13,832
Total contract liabilties		14,577		18,225
Less: current portion		14,013		16,789
Contract liabilities – non-current	$	564		1,436

Contract Assets [Member]

Schedule of Contract Assets and Liabilities

The components of contract assets are presented in the table below.

	June 30, 2019		December 31, 2018
Unbilled contract receivables, gross	$	27,644	$	21,703
Retainage		31,537		31,301
Total contract assets		59,181		53,004
Less: current portion		50,580		46,018
Contract Assets – non-current	$	8,601	$	6,986

XML 34 R24.htm IDEA: XBRL DOCUMENT

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

	June 30, 2019
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(457	)	$	523
Notice of Acceptances (NOAs), product designs and other intellectual property		10,870		(5,822	)		5,048
Non-compete Agreement		165		(77	)		88
Customer Relationships		4,140		(2,069	)		2,071
Total	$	16,155	$	(8,425	)	$	7,730

	December 31, 2018
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(359	)	$	621
Notice of Acceptances (NOAs), product designs and other intellectual property		10,881		(5,373	)		5,508
Non-compete Agreement		165		(60	)		105
Contract Backlog		3,090		(2,832	)		258
Customer Relationships		4,140		(1,626	)		2,514
Total	$	19,256	$	(10,250	)	$	9,006

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2019 is as follows:

Year ending	(in thousands)
2019	$	1,154
2020		2,180
2021		2,150
2022		1,270
2023		789
Thereafter		187
	$	7,730

XML 35 R25.htm IDEA: XBRL DOCUMENT

Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The Company’s debt is comprised of the following:

	June 30, 2019			December 31, 2018
Revolving lines of credit	$	9,788		$	19,146
Finance lease		650			380
Unsecured senior note		210,000			210,000
Other loans		16,641			17,804
Syndicated loan		30,000			-
Less: Deferred cost of financing		(4,622	)		(5,015	)
Total obligations under borrowing arrangements		262,457			242,315
Less: Current portion of long-term debt and other current borrowings		12,223			21,606
Long-term debt	$	250,234		$	220,709

Schedule of Maturities of Long Term Debt

Maturities of long-term debt and other current borrowings are as follows as of June 30, 2019:

2020	$	12,411
2021		5,508
2022		219,988
2023		11,400
2024		12,868
Thereafter		4,901
Total	$	267,077

XML 36 R26.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Fair Value and Carrying Amounts of Long Term Debt

The following table summarizes the fair value and carrying amounts of our long-term debt:

	June 30, 2019		December 31, 2018
Fair Value		266,223		234,163
Carrying Value		250,234		220,709

XML 37 R27.htm IDEA: XBRL DOCUMENT

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Current income tax
United States	$	(903	)	$	1,129		$	(1,415	)	$	722
Colombia		(4,338	)		(317	)		(7,758	)		(2,522	)
		(5,241	)		812			(9,173	)		(1,800	)
Deferred income Tax
United States		957			(992	)		1,126			(1,161	)
Colombia		307			1,647			(809	)		(965	)
		1,264			655			317			(2,126	)
Total income tax (provision) benefit	$	(3,977	)	$	1,467		$	(8,856	)	$	(3,926	)

Effective tax rate		(34	%)		27	%		(37	%)		37	%

XML 38 R28.htm IDEA: XBRL DOCUMENT

Related Parties (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Related Parties

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Sales to related parties	$	1,624	$	1,184	$	3,984	$	2,137

Fees paid to directors and officers	$	1,013	$	801	$	1,822	$	1,628
Payments to other related parties	$	907	$	674	$	1,833	$	1,662

	June 30, 2019		December 31, 2018
Current Assets:
Due from VS	$	6,934	$	6,229
Due from other related parties		2,462		2,010
	$	9,396	$	8,239

Liabilities:
Due to related parties - current	$	4,335	$	1,500
Due to related parties - long term	$	611	$	600

Schedule of Payments to Other Related Parties

Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Charitable contributions	$	178	$	296	$	605	$	567
Sales commissions	$	286	$	336	$	762	$	677

XML 39 R29.htm IDEA: XBRL DOCUMENT

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of the basic and diluted earnings per share for the six months ended June 30, 2019 and 2018:

	Three months ended June 30,					Six months ended June 30,
	2019		2018			2019		2018
Numerator for basic and diluted earnings per shares
Net Income (loss)	$	7,660	$	(3,870	)	$	14,991	$	6,749

Denominator
Denominator for basic earnings per ordinary share - weighted average shares outstanding		44,840,263		38,200,792			42,254,672		38,135,096
Effect of dilutive securities and stock dividend		763,676		-			763,676		763,676
Denominator for diluted earnings per ordinary share - weighted average shares outstanding		45,603,939		38,200,792			43,018,348		38,898,772
Basic earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.18
Diluted earnings (loss) per ordinary share	$	0.17	$	(0.10	)	$	0.35	$	0.17

XML 40 R30.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 02, 2019	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Shipping and handling costs	$ 4,714	$ 3,764	$ 9,024	$ 8,496
Finance lease right-of-use assets	682		682
Lease liability	$ 650		$ 650			$ 380
Finance lease, weighted average remaining lease term	2 years 9 months 18 days		2 years 9 months 18 days
Operating leases liability	$ 102		$ 102
ASU 2016-02 [Member]
Significant Accounting Policies [Line Items]
Finance lease right-of-use assets					$ 378
Lease liability					$ 380

XML 41 R31.htm IDEA: XBRL DOCUMENT

Long-term Investments (Details Narrative) - USD ($) $ in Thousands			6 Months Ended
	May 03, 2019	Jan. 11, 2019	Jun. 30, 2019	Jun. 30, 2018	Apr. 30, 2019	Dec. 31, 2018
Cash consideration paid for acquisition of minority interest			$ 34,100	$ 6,000
Long-term investments			$ 44,978
ESMetals [Member]
Equity method investment, ownership percentage					70.00%
Saint-Gobain Joint Venture Agreement [Member] \| Vidrio Andino Holdings S.A.S [Member]
Minority ownership interest		25.80%
Purchase price for acquiring minority interest		$ 45,000
Cash consideration paid for acquisition of minority interest	$ 34,100
Recorded investments in relation to acquisition	45,000
Recorded current liabilities in relation to acquisition	$ 10,900
Saint-Gobain Joint Venture Agreement [Member] \| Vidrio Andino Holdings S.A.S [Member] \| Land [Member]
Recorded current liabilities in relation to acquisition		$ 10,900

XML 42 R32.htm IDEA: XBRL DOCUMENT

Inventories, Net - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 52,019	$ 43,744
Work in process	28,283	25,957
Finished goods	2,023	14,251
Stores and spares	7,669	7,437
Packing material	999	540
Total Inventories	90,993	91,929
Less: Inventory allowance	(87)	(80)
Total inventories, net	$ 90,906	$ 91,849

XML 43 R33.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating revenues:
Sales related to contract liabilities	$ 4,041	$ 2,306	$ 1,759	$ 1,086
Remaining performance obligation	$ 285,900		$ 285,900
Performance obligation, percentage	100.00%		100.00%
Performance obligation expected to be satisfied in the first year	$ 145,600		$ 145,600
Performance obligation expected to be satisfied in the second year	115,500		115,500
Performance obligation expected to be satisfied thereafter	$ 24,900		$ 24,900

XML 44 R34.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities - Schedule of Disaggregation by Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Total Revenues	$ 113,883	$ 88,969	$ 221,051	$ 176,129
Fixed Price Contracts [Member]
Total Revenues	46,721	37,814	88,897	80,030
Product Sales [Member]
Total Revenues	$ 67,162	$ 51,155	$ 132,154	$ 96,099

XML 45 R35.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities - Schedule of Geographical Information of Revenue from External Customer (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Total Revenues	$ 113,883	$ 88,969	$ 221,051	$ 176,129
Colombia [Member]
Total Revenues	12,165	15,557	25,153	37,381
United States [Member]
Total Revenues	99,326	69,852	191,360	132,845
Panama [Member]
Total Revenues	913	1,043	1,676	1,857
Other [Member]
Total Revenues	$ 1,479	$ 2,517	$ 2,862	$ 4,046

XML 46 R36.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating revenues:
Contract assets - current	$ 50,580	$ 46,018
Contract assets - non-current	8,601	6,986
Contract liabilities - current	(14,013)	(16,789)
Contract liabilities - non-current	(564)	(1,436)
Net contract assets (liabilities)	$ 44,604	$ 34,779

XML 47 R37.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating revenues:
Unbilled contract receivables, gross	$ 27,644	$ 21,703
Retainage	31,537	31,301
Total contract assets	59,181	53,004
Less: current portion	50,580	46,018
Contract Assets - non-current	$ 8,601	$ 6,986

XML 48 R38.htm IDEA: XBRL DOCUMENT

Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating revenues:
Billings in excess of costs	$ 3,101	$ 4,393
Advances from customers on uncompleted contracts	11,476	13,832
Total contract liabilities	14,577	18,225
Less: current portion	14,013	16,789
Contract liabilities - non-current	$ 564	$ 1,436

XML 49 R39.htm IDEA: XBRL DOCUMENT

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period			5 years 4 months 24 days
Amortization expense	$ 609	$ 891	$ 1,485	$ 1,776

XML 50 R40.htm IDEA: XBRL DOCUMENT

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Income Tax [Line Items]
Intangible assets, Gross	$ 16,155	$ 19,256
Accumulated Amortization	(8,425)	(10,250)
Intangible assets, net	7,730	9,006
Trade Names [Member]
Income Tax [Line Items]
Intangible assets, Gross	980	980
Accumulated Amortization	(457)	(359)
Intangible assets, net	523	621
Notice of Acceptances (NOAs), Product Designs and Other Intellectual Property [Member]
Income Tax [Line Items]
Intangible assets, Gross	10,870	10,881
Accumulated Amortization	(5,822)	(5,373)
Intangible assets, net	5,048	5,508
Non-compete Agreement [Member]
Income Tax [Line Items]
Intangible assets, Gross	165	165
Accumulated Amortization	(77)	(60)
Intangible assets, net	88	105
Customer Relationships [Member]
Income Tax [Line Items]
Intangible assets, Gross	4,140	4,140
Accumulated Amortization	(2,069)	(1,626)
Intangible assets, net	$ 2,071	2,514
Contract Backlog [Member]
Income Tax [Line Items]
Intangible assets, Gross		3,090
Accumulated Amortization		(2,832)
Intangible assets, net		$ 258

XML 51 R41.htm IDEA: XBRL DOCUMENT

Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 1,154
2020	2,180
2021	2,150
2022	1,270
2023	789
Thereafter	187
Intangible assets, net	$ 7,730	$ 9,006

XML 52 R42.htm IDEA: XBRL DOCUMENT

Debt (Details Narrative) - USD ($) $ in Thousands		6 Months Ended
Debt (Details Narrative) - USD ($) $ in Thousands	May 02, 2019	Jun. 30, 2019	Dec. 31, 2018
Debt face amount		$ 261,730	$ 242,106
Present value of minimum lease payments		$ 650	380
Loan maturity period		Few weeks to 10 years
Debt, weighted average interest rate		7.50%
Debt Facility [Member] \| Banco de Crédito del Perú and Banco Sabadell [Member]
Repayments of lines of credit	$ 30,000
Debt instrument term	5 years
Debt Facility [Member] \| Banco de Crédito del Perú and Banco Sabadell [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Interest rate during period	2.95%
Property, Plant and Equipment [Member]
Debt instrument, collateral amount		$ 5,070	$ 5,037

XML 53 R43.htm IDEA: XBRL DOCUMENT

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Revolving lines of credit	$ 9,788	$ 19,146
Finance lease	650	380
Unsecured senior note	210,000	210,000
Other loans	16,641	17,804
Syndicated loan	30,000
Less: Deferred cost of financing	(4,622)	(5,015)
Total obligations under borrowing arrangements	262,457	242,315
Less: Current portion of long-term debt and other current borrowings	12,223	21,606
Long-term debt	$ 250,234	$ 220,709

XML 54 R44.htm IDEA: XBRL DOCUMENT

Debt - Schedule of Maturities of Long Term Debt (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 12,411
2021	5,508
2022	219,988
2023	11,400
2024	12,868
Thereafter	4,901
Total	$ 267,077

XML 55 R45.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Carrying Value	$ 262,457	$ 242,315
Fair Value, Inputs, Level 2 [Member]
Fair Value	266,223	234,163
Carrying Value	$ 250,234	$ 220,709

XML 56 R46.htm IDEA: XBRL DOCUMENT

Income Taxes (Details Narrative)		3 Months Ended		6 Months Ended
Income Taxes (Details Narrative)	Dec. 28, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Effective income tax rate reconciliation, percent		(34.00%)	27.00%	(37.00%)	37.00%
State and federal income tax rate				26.50%
Weighted average statutory income tax rate				33.00%
Tax Year 2019 [Member]
Effective income tax rate reconciliation, percent	33.00%
Tax Year 2020 [Member]
Effective income tax rate reconciliation, percent	32.00%
Tax Year 2021 [Member]
Effective income tax rate reconciliation, percent	31.00%
Tax Year 2022 [Member]
Effective income tax rate reconciliation, percent	30.00%
Tax Year 2018 [Member]
Effective income tax rate reconciliation, percent	37.00%

XML 57 R47.htm IDEA: XBRL DOCUMENT

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Current income tax, United States	$ (903)	$ 1,129	$ (1,415)	$ 722
Current income tax, Colombia	(4,338)	(317)	(7,758)	(2,522)
Total current income tax	(5,241)	812	(9,173)	(1,800)
Deferred income Tax, United States	957	(992)	1,126	(1,161)
Deferred income Tax, Colombia	307	1,647	(809)	(965)
Total deferred income tax	1,264	655	317	(2,126)
Total income tax (provision) benefit	$ (3,977)	$ 1,467	$ (8,856)	$ (3,926)
Effective tax rate	(34.00%)	27.00%	(37.00%)	37.00%

XML 58 R48.htm IDEA: XBRL DOCUMENT

Related Parties (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt instrument maturity			Few weeks to 10 years
Due to related party	$ 611		$ 611		$ 600
Sales revenue from related party	1,624	$ 1,184	3,984	$ 2,137
Ventana Solar S.A. [Member]
Sales revenue from related party	855	$ 588	1,525	$ 1,214
Former Owner [Member]
Due to related party	$ 8,500		$ 8,500
CEO, COO and Other Related Parties [Member]
Equity percentage	100.00%		100.00%
GM&P [Member]
Debt instrument maturity			2022

XML 59 R49.htm IDEA: XBRL DOCUMENT

Related Parties - Schedule of Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transactions [Abstract]
Sales to related parties	$ 1,624	$ 1,184	$ 3,984	$ 2,137
Fees paid to directors and officers	1,013	801	1,822	1,628
Payments to other related parties	907	$ 674	1,833	$ 1,662
Due from VS	6,934		6,934		$ 6,229
Due from other related parties	2,462		2,462		2,010
Due from related parties, current	9,396		9,396		8,239
Due to related parties - current	4,335		4,335		1,500
Due to related parties - long term	$ 611		$ 611		$ 600

XML 60 R50.htm IDEA: XBRL DOCUMENT

Related Parties - Schedule of Payments to Other Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Charitable Contributions [Member]
Payment to other related parties	$ 178	$ 296	$ 605	$ 567
Sales Commissions [Member]
Payment to other related parties	$ 286	$ 336	$ 762	$ 677

XML 61 R51.htm IDEA: XBRL DOCUMENT

Shareholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				6 Months Ended
	Apr. 03, 2019	Mar. 25, 2019	May 11, 2017	Jun. 30, 2019	Nov. 01, 2016
Dividends declared				$ 12,389
Dividends payable				$ 1,379
Dividends paid to shareholders shares				1,214,023
Anti-dilutive securities				763,676
Follow-on Equity Offering [Member]
Sale of stock, number of shares Issued in Transaction		5,000,000
Sale of stock, price per share		$ 7.00
Proceeds from offering		$ 33,050
Follow-on Equity Offering [Member] \| Underwriters [Member]
Number of options to purchase additional ordinary shares		750,000
Number of options exercises in period	551,423
Capital [Member]
Dividends paid to shareholders value				$ 9,578
Cash [Member]
Dividends paid to shareholders value				$ 2,170
Quarterly Rate [Member]
Dividends payable, amount per share			$ 0.14		$ 0.125
Dividends price percentage			12.00%
Annual Basis [Member]
Dividends payable, amount per share			$ 0.56		$ 0.50

XML 62 R52.htm IDEA: XBRL DOCUMENT

Shareholders' Equity - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Net Income (loss)	$ 7,660	$ 7,331	$ (3,870)	$ 10,619	$ 14,991	$ 6,749
Denominator for basic earnings per ordinary share - weighted average shares outstanding	44,840,263		38,200,792		42,254,672	38,135,096
Effect of dilutive securities and stock dividend	763,676				763,676	763,676
Denominator for diluted earnings per ordinary share - weighted average shares outstanding	45,603,939		38,200,792		43,018,348	38,898,772
Basic earnings (loss) per ordinary share	$ 0.17		$ (0.10)		$ 0.35	$ 0.18
Diluted earnings (loss) per ordinary share	$ 0.17		$ (0.10)		$ 0.35	$ 0.17

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

XML 63 R53.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details Narrative) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase of aggregate raw material	$ 25,141

EXCEL 64 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 65 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 66 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 67 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.2 html 169 341 1 false 49 0 false 4 false false R1.htm 00000001 - Document - Document And Entity Information Sheet http://tecnoglass.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Consolidated Balance Sheets (Unaudited) Sheet http://tecnoglass.com/role/BalanceSheets Condensed Consolidated Balance Sheets (Unaudited) Statements 2 false false R3.htm 00000003 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) Sheet http://tecnoglass.com/role/BalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) Sheet http://tecnoglass.com/role/StatementsOfOperationsAndOtherComprehensiveIncome Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://tecnoglass.com/role/StatementsOfCashFlows Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Sheet http://tecnoglass.com/role/StatementsOfShareholdersEquity Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Statements 6 false false R7.htm 00000007 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) Sheet http://tecnoglass.com/role/StatementsOfShareholdersEquityParenthetical Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) Statements 7 false false R8.htm 00000008 - Disclosure - General Sheet http://tecnoglass.com/role/General General Notes 8 false false R9.htm 00000009 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies Sheet http://tecnoglass.com/role/BasisOfPresentationAndSummaryOfSignificantAccountingPolicies Basis of Presentation and Summary of Significant Accounting Policies Notes 9 false false R10.htm 00000010 - Disclosure - Long-term Investments Sheet http://tecnoglass.com/role/Long-termInvestments Long-term Investments Notes 10 false false R11.htm 00000011 - Disclosure - Inventories, Net Sheet http://tecnoglass.com/role/InventoriesNet Inventories, Net Notes 11 false false R12.htm 00000012 - Disclosure - Revenues, Contract Assets and Contract Liabilities Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities Revenues, Contract Assets and Contract Liabilities Notes 12 false false R13.htm 00000013 - Disclosure - Intangible Assets Sheet http://tecnoglass.com/role/IntangibleAssets Intangible Assets Notes 13 false false R14.htm 00000014 - Disclosure - Debt Sheet http://tecnoglass.com/role/Debt Debt Notes 14 false false R15.htm 00000015 - Disclosure - Fair Value Measurements Sheet http://tecnoglass.com/role/FairValueMeasurements Fair Value Measurements Notes 15 false false R16.htm 00000016 - Disclosure - Income Taxes Sheet http://tecnoglass.com/role/IncomeTaxes Income Taxes Notes 16 false false R17.htm 00000017 - Disclosure - Related Parties Sheet http://tecnoglass.com/role/RelatedParties Related Parties Notes 17 false false R18.htm 00000018 - Disclosure - Shareholders' Equity Sheet http://tecnoglass.com/role/ShareholdersEquity Shareholders' Equity Notes 18 false false R19.htm 00000019 - Disclosure - Commitments and Contingencies Sheet http://tecnoglass.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 19 false false R20.htm 00000020 - Disclosure - Subsequent Events Sheet http://tecnoglass.com/role/SubsequentEvents Subsequent Events Notes 20 false false R21.htm 00000021 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies (Policies) Sheet http://tecnoglass.com/role/BasisOfPresentationAndSummaryOfSignificantAccountingPoliciesPolicies Basis of Presentation and Summary of Significant Accounting Policies (Policies) Policies http://tecnoglass.com/role/BasisOfPresentationAndSummaryOfSignificantAccountingPolicies 21 false false R22.htm 00000022 - Disclosure - Inventories, Net (Tables) Sheet http://tecnoglass.com/role/InventoriesNetTables Inventories, Net (Tables) Tables http://tecnoglass.com/role/InventoriesNet 22 false false R23.htm 00000023 - Disclosure - Revenues, Contract Assets and Contract Liabilities (Tables) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilitiesTables Revenues, Contract Assets and Contract Liabilities (Tables) Tables http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities 23 false false R24.htm 00000024 - Disclosure - Intangible Assets (Tables) Sheet http://tecnoglass.com/role/IntangibleAssetsTables Intangible Assets (Tables) Tables http://tecnoglass.com/role/IntangibleAssets 24 false false R25.htm 00000025 - Disclosure - Debt (Tables) Sheet http://tecnoglass.com/role/DebtTables Debt (Tables) Tables http://tecnoglass.com/role/Debt 25 false false R26.htm 00000026 - Disclosure - Fair Value Measurements (Tables) Sheet http://tecnoglass.com/role/FairValueMeasurementsTables Fair Value Measurements (Tables) Tables http://tecnoglass.com/role/FairValueMeasurements 26 false false R27.htm 00000027 - Disclosure - Income Taxes (Tables) Sheet http://tecnoglass.com/role/IncomeTaxesTables Income Taxes (Tables) Tables http://tecnoglass.com/role/IncomeTaxes 27 false false R28.htm 00000028 - Disclosure - Related Parties (Tables) Sheet http://tecnoglass.com/role/RelatedPartiesTables Related Parties (Tables) Tables http://tecnoglass.com/role/RelatedParties 28 false false R29.htm 00000029 - Disclosure - Shareholders' Equity (Tables) Sheet http://tecnoglass.com/role/ShareholdersEquityTables Shareholders' Equity (Tables) Tables http://tecnoglass.com/role/ShareholdersEquity 29 false false R30.htm 00000030 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) Sheet http://tecnoglass.com/role/BasisOfPresentationAndSummaryOfSignificantAccountingPoliciesDetailsNarrative Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) Details http://tecnoglass.com/role/BasisOfPresentationAndSummaryOfSignificantAccountingPoliciesPolicies 30 false false R31.htm 00000031 - Disclosure - Long-term Investments (Details Narrative) Sheet http://tecnoglass.com/role/Long-termInvestmentsDetailsNarrative Long-term Investments (Details Narrative) Details http://tecnoglass.com/role/Long-termInvestments 31 false false R32.htm 00000032 - Disclosure - Inventories, Net - Schedule of Inventories (Details) Sheet http://tecnoglass.com/role/InventoriesNet-ScheduleOfInventoriesDetails Inventories, Net - Schedule of Inventories (Details) Details 32 false false R33.htm 00000033 - Disclosure - Revenues, Contract Assets and Contract Liabilities (Details Narrative) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilitiesDetailsNarrative Revenues, Contract Assets and Contract Liabilities (Details Narrative) Details http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilitiesTables 33 false false R34.htm 00000034 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Disaggregation by Revenue (Details) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities-ScheduleOfDisaggregationByRevenueDetails Revenues, Contract Assets and Contract Liabilities - Schedule of Disaggregation by Revenue (Details) Details 34 false false R35.htm 00000035 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Geographical Information of Revenue from External Customer (Details) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities-ScheduleOfGeographicalInformationOfRevenueFromExternalCustomerDetails Revenues, Contract Assets and Contract Liabilities - Schedule of Geographical Information of Revenue from External Customer (Details) Details 35 false false R36.htm 00000036 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets and Liabilities (Details) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities-ScheduleOfContractAssetsAndLiabilitiesDetails Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets and Liabilities (Details) Details 36 false false R37.htm 00000037 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets (Details) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities-ScheduleOfContractAssetsDetails Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Assets (Details) Details 37 false false R38.htm 00000038 - Disclosure - Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Liabilities (Details) Sheet http://tecnoglass.com/role/RevenuesContractAssetsAndContractLiabilities-ScheduleOfContractLiabilitiesDetails Revenues, Contract Assets and Contract Liabilities - Schedule of Contract Liabilities (Details) Details 38 false false R39.htm 00000039 - Disclosure - Intangible Assets (Details Narrative) Sheet http://tecnoglass.com/role/IntangibleAssetsDetailsNarrative Intangible Assets (Details Narrative) Details http://tecnoglass.com/role/IntangibleAssetsTables 39 false false R40.htm 00000040 - Disclosure - Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) Sheet http://tecnoglass.com/role/IntangibleAssets-ScheduleOfFinite-livedIntangibleAssetsDetails Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) Details 40 false false R41.htm 00000041 - Disclosure - Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) Sheet http://tecnoglass.com/role/IntangibleAssets-ScheduleOfFinite-livedIntangibleAssetsFutureAmortizationExpenseDetails Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) Details 41 false false R42.htm 00000042 - Disclosure - Debt (Details Narrative) Sheet http://tecnoglass.com/role/DebtDetailsNarrative Debt (Details Narrative) Details http://tecnoglass.com/role/DebtTables 42 false false R43.htm 00000043 - Disclosure - Debt - Schedule of Long Term Debt (Details) Sheet http://tecnoglass.com/role/Debt-ScheduleOfLongTermDebtDetails Debt - Schedule of Long Term Debt (Details) Details 43 false false R44.htm 00000044 - Disclosure - Debt - Schedule of Maturities of Long Term Debt (Details) Sheet http://tecnoglass.com/role/Debt-ScheduleOfMaturitiesOfLongTermDebtDetails Debt - Schedule of Maturities of Long Term Debt (Details) Details 44 false false R45.htm 00000045 - Disclosure - Fair Value Measurements - Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) Sheet http://tecnoglass.com/role/FairValueMeasurements-SummaryOfFairValueAndCarryingAmountsOfLongTermDebtDetails Fair Value Measurements - Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) Details 45 false false R46.htm 00000046 - Disclosure - Income Taxes (Details Narrative) Sheet http://tecnoglass.com/role/IncomeTaxesDetailsNarrative Income Taxes (Details Narrative) Details http://tecnoglass.com/role/IncomeTaxesTables 46 false false R47.htm 00000047 - Disclosure - Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) Sheet http://tecnoglass.com/role/IncomeTaxes-ScheduleOfComponentsOfIncomeTaxExpenseBenefitDetails Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) Details 47 false false R48.htm 00000048 - Disclosure - Related Parties (Details Narrative) Sheet http://tecnoglass.com/role/RelatedPartiesDetailsNarrative Related Parties (Details Narrative) Details http://tecnoglass.com/role/RelatedPartiesTables 48 false false R49.htm 00000049 - Disclosure - Related Parties - Schedule of Related Parties (Details) Sheet http://tecnoglass.com/role/RelatedParties-ScheduleOfRelatedPartiesDetails Related Parties - Schedule of Related Parties (Details) Details 49 false false R50.htm 00000050 - Disclosure - Related Parties - Schedule of Payments to Other Related Parties (Details) Sheet http://tecnoglass.com/role/RelatedParties-ScheduleOfPaymentsToOtherRelatedPartiesDetails Related Parties - Schedule of Payments to Other Related Parties (Details) Details 50 false false R51.htm 00000051 - Disclosure - Shareholders' Equity (Details Narrative) Sheet http://tecnoglass.com/role/ShareholdersEquityDetailsNarrative Shareholders' Equity (Details Narrative) Details http://tecnoglass.com/role/ShareholdersEquityTables 51 false false R52.htm 00000052 - Disclosure - Shareholders' Equity - Schedule of Earnings Per Share, Basic and Diluted (Details) Sheet http://tecnoglass.com/role/ShareholdersEquity-ScheduleOfEarningsPerShareBasicAndDilutedDetails Shareholders' Equity - Schedule of Earnings Per Share, Basic and Diluted (Details) Details 52 false false R53.htm 00000053 - Disclosure - Commitments and Contingencies (Details Narrative) Sheet http://tecnoglass.com/role/CommitmentsAndContingenciesDetailsNarrative Commitments and Contingencies (Details Narrative) Details http://tecnoglass.com/role/CommitmentsAndContingencies 53 false false All Reports Book All Reports tgls-20190630.xml tgls-20190630.xsd tgls-20190630_cal.xml tgls-20190630_def.xml tgls-20190630_lab.xml tgls-20190630_pre.xml http://xbrl.sec.gov/country/2017-01-31 http://fasb.org/us-gaap/2019-01-31 http://xbrl.sec.gov/dei/2019-01-31 http://fasb.org/srt/2019-01-31 true true ZIP 69 0001493152-19-012002-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001493152-19-012002-xbrl.zip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end