Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 1,412 $ 626
Accounts receivable, net of allowance for credit losses of $939 and $70, respectively 36,226 35,074
Inventories, net 95,331 98,186
Prepaid expenses and other current assets 14,718 13,229
Total current assets 147,687 147,115
Property, plant and equipment, net 37,359 40,690
Right-of-use assets, operating leases, net 35,717 35,772
Goodwill 17,558 17,558
Intangible assets, net 12,835 15,714
Deferred charges, net 268 348
Total assets 251,424 257,197
Current liabilities    
Accounts payable 24,844 21,150
Accrued expenses and other current liabilities 10,243 11,613
Current portion of long-term debt 4,000 4,000
Current portion of operating lease liabilities 991 3,562
Current portion of finance lease liabilities 31 253
Total current liabilities 40,109 40,578
Long-term debt 74,635 71,554
Long-term portion of earn-out liability 1,642 3,578
Deferred income taxes 333 790
Long-term portion of operating lease liabilities 36,510 33,723
Long-term portion of finance lease liabilities 44 336
Other long-term liabilities 94 127
Total non-current liabilities 113,258 110,108
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 37,465 37,407
Retained earnings 61,967 70,552
Shareholders' equity before treasury stock 109,732 118,259
Less cost of common stock in treasury - 1,241,961 and 1,257,784 shares, respectively 11,675 11,748
Total shareholders' equity 98,057 106,511
Total liabilities and shareholders' equity $ 251,424 $ 257,197