Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,441 $ 2,021
Accounts receivable, net 45,120 50,126
Inventories, net    
Raw materials 57,518 48,448
Work-in-process 22,966 24,990
Finished goods 33,968 29,811
Total inventories, net 114,452 103,249
Prepaid expenses and other current assets 8,982 3,728
Assets held for sale 380 855
Total current assets 170,375 159,979
Property, plant and equipment, net 42,346 43,720
Right-of-use assets, operating leases, net 29,224 30,811
Goodwill 11,389 12,637
Intangible assets, net 10,387 14,382
Deferred income taxes 1,353 0
Deferred charges, net 203 302
Other non-current assets 3,766 4,171
Total assets 269,043 266,002
Current liabilities:    
Accounts payable 22,731 32,318
Accounts payable - related parties 0 2
Accrued expenses and other current liabilities 6,560 12,407
Current portion of note payable 387 0
Current portion of long-term debt 2,464 2,464
Current portion of earn-out liability 0 1,961
Current portion of operating lease liabilities 1,056 1,104
Current portion of finance lease liabilities 280 233
Total current liabilities 33,478 50,489
Long-term debt 69,085 67,928
Long-term portion of operating lease liabilities 30,911 32,059
Long-term portion of finance lease liabilities 1,242 1,414
Deferred income taxes 0 2,433
Other long-term liabilities 68 89
Total liabilities 134,784 154,412
Commitments and contingencies – see Note 15
Shareholders' equity:    
Common stock - $1 par value: 24,000,000 shares authorized; 11,085,103 and 10,160,599 shares issued and outstanding, respectively 11,085 11,085
Capital in excess of par value 47,021 46,058
Retained earnings 85,146 63,080
Shareholders' equity before treasury stock 143,252 120,223
Less cost of common stock in treasury - 924,504 and 918,471 shares, respectively (8,993) (8,633)
Total shareholders' equity 134,259 111,590
Total liabilities and shareholders' equity $ 269,043 $ 266,002