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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Projects $ 3,399 $ 2,393 $ 11,017 $ 7,250
Products 1,373 2,515 3,549 4,617
Services 280 143 621 386
Total revenues 5,052 5,051 15,187 12,253
Cost of sales:        
Projects 2,468 1,849 8,241 5,221
Products 791 1,289 2,113 2,404
Services 120 106 371 301
Total cost of sales 3,379 3,244 10,725 7,926
Gross profit 1,673 1,807 4,462 4,327
Operating expenses:        
Research and development expenses, net of credits 1,754 713 4,771 1,587
Selling, General and Administrative Expense 5,272 3,142 13,891 8,609
Total Operating Expenses 7,026 3,855 18,662 10,196
Operating Income (Loss) (5,353) (2,048) (14,200) (5,869)
Finance income (expense), net (160) 262 (53) 46
Gain on sale of HangXing 0 0 0 (492)
Loss from continuing operations before taxes (5,513) (1,786) (14,253) (5,331)
Income tax benefit (expense) 1,487 [1] 12,111 2,476 [1] 12,072
Net loss from continuing operations (4,026) 10,325 (11,777) 6,741
Loss From Discontinued Operations Net Of Tax 0 (544) 0 (1,948)
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax 0 30,683 0 30,683
Noncontrolling Interest Share of Loss from Discontinued Operations 0 151 0 540
Net Loss (4,026) 40,615 (11,777) 36,016
Net Income (Loss) Attributable to Noncontrolling Interest (276) (181) (737) (484)
Net Income (Loss) Attributable to Acorn Energy, Inc. Shareholders $ (3,750) $ 40,796 $ (11,040) $ 36,500
From continuing operations $ (0.21) $ 0.60 $ (0.62) $ 0.41
From discontinued operations $ 0.00 $ 1.73 $ 0.00 $ 1.68
Basic net income (loss) per share attributable to Acorn Energy, Inc. shareholders $ (0.21) $ 2.33 $ (0.62) $ 2.09
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – basic 17,934 17,508 17,843 17,443
From continuing operations $ (0.21) $ 0.59 $ (0.62) $ 0.41
From discontinued operations $ 0.00 $ 1.70 $ 0.00 $ 1.65
Diluted net income (loss) per share attributable to Acorn Energy, Inc. shareholders $ (0.21) $ 2.29 $ (0.62) $ 2.06
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – diluted 17,934 17,810 17,843 18
Dividends declared per common share $ 0.035 $ 0 $ 0.105 $ 0
[1] ** In the nine months ended September 30, 2012, includes an income tax benefit of $2,600 recorded with respect to net operating loss carryback of the Company's expected consolidated tax loss in the United States. In the three months ended September 30, 2012, includes an income tax benefit of $1,500 recorded with respect to net operating loss carryback of the Company's expected consolidated tax loss in the United States. In the three and nine month periods ended September 30, 2011, relates primarily to the recognition of deferred tax assets of $12,000 following the gain on the sale of CoaLogix.