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

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 57,606 $ 16,098
Accounts receivable, net 10,040 12,232
Advances and other receivables 5,389 52
Inventories    
Raw materials 5,589 4,654
Finished goods 3,153 1,073
Total inventories 8,742 5,727
Prepaid expenses and other current assets 1,243 1,122
Current assets of discontinued operations 0 47,841
Total current assets 83,020 83,072
Property, plant and equipment, net 15,762 17,589
Right-of-use assets, operating leases, net 9,368 28,140
Intangible assets, net 2,833 3,445
Deferred charges, net 401 309
Other non-current assets 553 512
Long-term assets of discontinued operations 0 14,183
Total assets 111,937 147,250
Current liabilities:    
Accounts payable 5,490 6,836
Accrued expenses and other current liabilities 5,389 3,598
Current portion of note payable 433 369
Current portion of operating lease liabilities 712 1,495
Current portion of finance lease liabilities 331 293
Current liabilities of discontinued operations 0 9,756
Total current liabilities 12,355 22,347
Long-term portion of operating lease liabilities 11,496 29,972
Long-term portion of finance lease liabilities 808 1,015
Deferred income taxes 241 320
Other long-term liabilities 45 51
Total liabilities 24,945 53,705
Commitments and contingencies – see Note 15
Shareholders' equity:    
Common stock - $1 par value: 24,000,000 shares authorized; 9,400,898 and 10,072,590 shares outstanding as of December 31, 2025 and 2024, respectively 11,085 11,085
Capital in excess of par value 48,276 47,339
Retained earnings 45,786 44,919
Shareholders' equity before treasury stock 105,147 103,343
Less cost of common stock in treasury - 1,684,205 and 1,012,513 shares, respectively (18,155) (9,798)
Total shareholders' equity 86,992 93,545
Total liabilities and shareholders' equity $ 111,937 $ 147,250