| Summarized Segment Financial Information |
Summarized financial information concerning our segments as of and for the three and nine months ended September 30, 2017 and 2016, is as follows (in thousands):
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Three Months Ended September 30, 2017 |
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Fabrication |
Shipyards (1)
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Services |
Corporate |
Eliminations |
Consolidated |
Revenue |
$ |
18,318 |
|
$ |
15,074 |
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$ |
17,651 |
|
$ |
— |
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$ |
(1,159 |
) |
$ |
49,884 |
|
Gross profit (loss) |
1,250 |
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(3,504 |
) |
1,912 |
|
(152 |
) |
— |
|
(494 |
) |
Operating income (loss) |
472 |
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(4,392 |
) |
1,217 |
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(2,161 |
) |
— |
|
(4,864 |
) |
Total assets |
205,463 |
|
96,614 |
|
100,820 |
|
364,016 |
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(463,533 |
) |
303,380 |
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Depreciation and amortization expense |
1,133 |
|
1,030 |
|
413 |
|
95 |
|
— |
|
2,671 |
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Capital expenditures |
1,479 |
|
1,054 |
|
94 |
|
25 |
|
— |
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2,652 |
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Three Months Ended September 30, 2016 |
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Fabrication |
Shipyards (1)
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Services |
Corporate |
Eliminations |
Consolidated |
Revenue |
$ |
22,311 |
|
$ |
23,060 |
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$ |
20,928 |
|
$ |
— |
|
$ |
(915 |
) |
$ |
65,384 |
|
Gross profit (loss) |
601 |
|
1,945 |
|
2,918 |
|
(205 |
) |
— |
|
5,259 |
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Operating income (loss) |
(284 |
) |
477 |
|
1,975 |
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(1,995 |
) |
— |
|
173 |
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Total assets |
285,320 |
|
75,779 |
|
100,781 |
|
332,617 |
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(457,285 |
) |
337,212 |
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Depreciation and amortization expense |
4,637 |
|
1,183 |
|
443 |
|
123 |
|
— |
|
6,386 |
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Capital expenditures |
1,228 |
|
318 |
|
565 |
|
14 |
|
— |
|
2,125 |
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Nine Months Ended September 30, 2017 |
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Fabrication |
Shipyards (1)
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Services |
Corporate |
Eliminations |
Consolidated |
Revenue |
$ |
42,517 |
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$ |
51,798 |
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$ |
43,758 |
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$ |
— |
|
$ |
(4,328 |
) |
$ |
133,745 |
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Gross profit (loss) |
216 |
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(19,061 |
) |
2,335 |
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(500 |
) |
— |
|
(17,010 |
) |
Operating income (loss) |
(2,216 |
) |
(22,285 |
) |
327 |
|
(6,165 |
) |
— |
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(30,339 |
) |
Total assets |
205,463 |
|
96,614 |
|
100,820 |
|
364,016 |
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(463,533 |
) |
303,380 |
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Depreciation and amortization expense |
5,420 |
|
3,034 |
|
1,266 |
|
421 |
|
— |
|
10,141 |
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Capital expenditures |
2,327 |
|
1,872 |
|
199 |
|
117 |
|
— |
|
4,515 |
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Nine Months Ended September 30, 2016 |
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Fabrication |
Shipyards (1)
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Services |
Corporate |
Eliminations |
Consolidated |
Revenue |
$ |
70,436 |
|
$ |
86,553 |
|
$ |
76,179 |
|
$ |
— |
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$ |
(2,304 |
) |
$ |
230,864 |
|
Gross profit (loss) |
4,564 |
|
9,742 |
|
11,158 |
|
(439 |
) |
— |
|
25,025 |
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Operating income (loss) |
1,743 |
|
5,524 |
|
8,696 |
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(5,571 |
) |
— |
|
10,392 |
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Total assets |
285,320 |
|
75,779 |
|
100,781 |
|
332,617 |
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(457,285 |
) |
337,212 |
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Depreciation and amortization expense |
14,081 |
|
3,507 |
|
1,342 |
|
332 |
|
— |
|
19,262 |
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Capital expenditures |
2,539 |
|
534 |
|
1,612 |
|
730 |
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— |
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5,415 |
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____________
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(1) |
Revenue includes non-cash amortization of deferred revenue related to the values assigned to contracts acquired in the LEEVAC transaction of $510,000 and $1.5 million for the three months ended September 30, 2017 and 2016 and $2.4 million and $4.1 million for the nine months ended September 30, 2017 and 2016, respectively.
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