Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 236 $ 626
Accounts receivable, net 28,183 35,074
Inventories, net    
Raw materials 35,997 42,643
Work-in-process 20,304 17,354
Finished goods 28,779 38,189
Total inventories, net 85,080 98,186
Prepaid expenses and other current assets 13,384 13,229
Total current assets 126,883 147,115
Property, plant and equipment, net 35,096 40,690
Right-of-use assets, operating leases, net 31,769 35,772
Goodwill 1,355 17,558
Intangible assets, net 11,426 15,714
Deferred charges, net 455 348
Total assets 206,984 257,197
Current liabilities    
Accounts payable 19,732 21,150
Accrued expenses and other current liabilities 6,123 6,037
Current portion of long-term debt 875 4,000
Current portion of earn-out liability 3,434 5,576
Current portion of operating lease liabilities 867 3,562
Current portion of finance lease liabilities 19 253
Total current liabilities 31,050 40,578
Long-term debt 60,495 71,554
Long-term portion of earn-out liability 287 3,578
Long-term portion of operating lease liabilities 32,771 33,723
Long-term portion of finance lease liabilities 37 336
Deferred income taxes 1,957 790
Other long-term liabilities 92 127
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 37,719 37,407
Retained earnings 42,835 70,552
Shareholders' equity before treasury stock 90,854 118,259
Less cost of common stock in treasury - 1,123,319 and 1,257,784 shares, respectively 10,559 11,748
Total shareholders' equity 80,295 106,511
Commitments and contingencies – see Note 12
Total liabilities and shareholders' equity $ 206,984 $ 257,197