Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,851 $ 1,440
Accounts receivable, net 26,604 33,202
Inventories    
Raw materials 21,020 33,405
Work-in-process 13,711 10,811
Finished goods 17,575 23,455
Total inventories 52,306 67,671
Prepaid expenses and other current assets 4,879 7,770
Assets held for sale 2,912 380
Current assets of discontinued operations 861 59,912
Total current assets 89,413 170,375
Property, plant and equipment, net 29,755 35,534
Right-of-use assets, operating leases, net 27,784 29,142
Goodwill 0 11,389
Intangible assets, net 8,496 10,001
Deferred income taxes 5,808 1,353
Deferred charges, net 104 203
Other non-current assets 1,935 1,862
Long-term assets of discontinued operations 0 9,184
Total assets 163,295 269,043
Current liabilities:    
Accounts payable 16,416 14,114
Accrued expenses and other current liabilities 5,108 5,509
Current portion of note payable 360 387
Current portion of long-term debt 0 2,464
Current portion of operating lease liabilities 1,140 1,015
Current portion of finance lease liabilities 292 280
Current liabilities of discontinued operations 1,473 9,709
Total current liabilities 24,789 33,478
Long-term debt 0 69,085
Long-term portion of operating lease liabilities 29,729 30,869
Long-term portion of finance lease liabilities 1,307 1,242
Other long-term liabilities 60 68
Long-term liabilities of discontinued operations 0 42
Total liabilities 55,885 134,784
Commitments and contingencies – see Note 15
Shareholders' equity:    
Common stock - $1 par value: 24,000,000 shares authorized; 11,085,103 and 10,094,821 shares issued and outstanding, respectively 11,085 11,085
Capital in excess of par value 47,333 47,021
Retained earnings 58,517 85,146
Shareholders' equity before treasury stock 116,935 143,252
Less cost of common stock in treasury - 990,282 and 924,504 shares, respectively (9,525) (8,993)
Total shareholders' equity 107,410 134,259
Total liabilities and shareholders' equity $ 163,295 $ 269,043