Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 16,108 $ 1,851
Accounts receivable, net 23,880 26,604
Inventories    
Raw materials 12,119 21,020
Work-in-process 12,689 13,711
Finished goods 16,154 17,575
Total inventories 40,962 52,306
Prepaid expenses and other current assets 2,075 4,879
Assets held for sale 0 2,912
Current assets of discontinued operations 46 861
Total current assets 83,071 89,413
Property, plant and equipment, net 25,462 29,755
Right-of-use assets, operating leases, net 28,225 27,784
Intangible assets, net 7,009 8,496
Deferred income taxes 0 5,808
Deferred charges, net 309 104
Other non-current assets 3,174 1,935
Total assets 147,250 163,295
Current liabilities:    
Accounts payable 13,072 16,416
Accrued expenses and other current liabilities 5,042 5,046
Deferred revenue 1,360 62
Current portion of note payable 369 360
Current portion of operating lease liabilities 1,513 1,140
Current portion of finance lease liabilities 334 292
Current liabilities of discontinued operations 590 1,473
Total current liabilities 22,280 24,789
Long-term portion of operating lease liabilities 30,039 29,729
Long-term portion of finance lease liabilities 1,015 1,307
Deferred income taxes 320 0
Other long-term liabilities 51 60
Total liabilities 53,705 55,885
Commitments and contingencies – see Note 15
Shareholders' equity:    
Common stock - $1 par value: 24,000,000 shares authorized; 11,085,103 and 10,072,590 shares issued and outstanding, respectively 11,085 11,085
Capital in excess of par value 47,339 47,333
Retained earnings 44,919 58,517
Shareholders' equity before treasury stock 103,343 116,935
Less cost of common stock in treasury - 1,012,513 and 990,282 shares, respectively (9,798) (9,525)
Total shareholders' equity 93,545 107,410
Total liabilities and shareholders' equity $ 147,250 $ 163,295