Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 22 $ 626
Accounts receivable, net of allowance for credit losses of $789 and $70, respectively 42,221 35,074
Inventories, net 97,152 98,186
Prepaid expenses and other current assets 14,880 13,229
Total current assets 154,275 147,115
Property, plant and equipment, net 39,386 40,690
Right-of-use assets, operating leases, net 36,072 35,772
Goodwill 17,558 17,558
Intangible assets, net 14,905 15,714
Deferred charges, net 308 348
Total assets 262,504 257,197
Current liabilities    
Accounts payable 26,819 21,150
Accrued expenses 10,373 11,613
Current portion of long-term debt 4,000 4,000
Current portion of operating lease liabilities 957 3,562
Current portion of finance lease liabilities 275 253
Total current liabilities 42,424 40,578
Long-term debt 73,755 71,554
Long-term portion of earn-out liability 2,581 3,578
Long-term portion of operating lease liabilities 36,770 33,723
Long-term portion of finance lease liabilities 200 336
Deferred income taxes 2,109 790
Other long-term liabilities 81 127
Total non-current liabilities 115,496 110,108
Commitments and contingencies – See Note 11
Shareholders' equity    
Common stock, par value $1 per share; authorized 24,000,000 shares; issued 10,300,000 shares 10,300 10,300
Capital in excess of par value 37,035 37,407
Retained earnings 68,924 70,552
Shareholders' equity before treasury stock 116,259 118,259
Less cost of common stock in treasury - 1,241,960 and 1,257,784 shares, respectively 11,675 11,748
Total shareholders' equity 104,584 106,511
Total liabilities and shareholders' equity $ 262,504 $ 257,197