Segment Information

12 Months Ended

Dec. 31, 2014

Segment Information [Abstract]

Segment Information

16.  Segment Information

The Company has two reportable business segments.  The Performance Improvement Solutions

business segment provides simulation, training and engineering products and services delivered across the breadth of industries we serve.  Solutions include simulation for both training and engineering applications.  Example training applications include turnkey and custom training services, while engineering services include plant design verification and validation. We provide these services across all our market segments.  Contracts typically range from 10 months to three years.

The Staff Augmentation services segment provide specialized workforce solutions primarily to the nuclear industry, working at our clients' facilities.  This business is managed through our Hyperspring, LLC subsidiary.  The business model, management focus, margins and other factors clearly separate this business line from the rest of the GSE product and service portfolio.  Hyperspring has been providing these services since 2005.

The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated income before income tax expense:

(in thousands)	Years ended December 31,
	2014			2013
Contract revenue:
Performance Improvement Solutions	$	35,675		$	47,562
Staff Augmentation		2,255			-
	$	37,930		$	47,562
Operating income (loss):
Performance Improvement Solutions	$	(6,805	)	$	(10,414	)
Staff Augmentation		105			-
Loss on change in fair value of contingent consideration, net		(229	)		(254	)
Operating loss	$	(6,929	)	$	(10,668	)
Interest income, net		143			105
Gain on derivative instruments, net		209			265
Other income (expense) , net		1			(67	)
Net loss	$	(6,576	)	$	(10,365	)

Additional information relating to our business segments is as follows:

(in thousands)	December 31,
	2014			2013
Identifiable assets:
Performance Improvement Solutions	$	38,309		$	48,827
Staff Augmentation		8,090			-
Intercompany receivable elimination		(400	)		-
Total Assets	$	45,999		$	48,827

For the years ended December 31, 2014 and 2013, 57% and 65%, respectively, of the Company's consolidated revenue was from customers in the nuclear power industry. The Company designs, develops and delivers business and technology solutions to the energy industry worldwide.  Revenue, operating income (loss) and total assets for the Company's United States, European, and Asian subsidiaries as of and for the years ended December 31, 2014 and 2013 are as follows:

(in thousands)	Year ended December 31, 2014
	United States				Europe				Asia				Eliminations				Consolidated
Contract revenue		$	29,038			$	6,414			$	2,478			$	-			$	37,930
Transfers between geographic locations			2,176				741				1,242				(4,159	)			-
Total contract revenue		$	31,214			$	7,155			$	3,720			$	(4,159	)		$	37,930
Operating loss		$	(4,743	)		$	(2,094	)		$	(92	)		$	-			$	(6,929	)
Total assets, at December 31		$	116,586			$	5,828			$	4,694			$	(81,109	)		$	45,999
(in thousands)	Year ended December 31, 2013
	United States				Europe				Asia				Eliminations				Consolidated
Contract revenue		$	33,419			$	8,639			$	5,504			$	-			$	47,562
Transfers between geographic locations			5,602				446				636				(6,684	)			-
Total contract revenue		$	39,021			$	9,085			$	6,140			$	(6,684	)		$	47,562
Operating income (loss)		$	(7,767	)		$	(3,053	)		$	152			$	-			$	(10,668	)
Total assets, at December 31		$	67,255			$	11,206			$	6,508			$	(36,142	)		$	48,827

Approximately 52% and 67%, of the Company's 2014 and 2013 revenue, respectively, was derived from international sales of its products and services from all of its subsidiaries.