Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 1,174 $ 236
Accounts receivable, net of allowance for credit losses of $108 and $496, respectively 44,096 28,183
Inventories, net 98,334 85,080
Prepaid expenses and other current assets 8,820 13,384
Total current assets 152,424 126,883
Property, plant and equipment, net 29,691 35,096
Right-of-use assets, operating leases, net 30,975 31,769
Goodwill 1,355 1,355
Intangible assets, net 9,385 11,426
Deferred charges, net 327 455
Total assets 224,157 206,984
Current liabilities    
Accounts payable 34,850 19,732
Accounts payable - related parties 2 0
Accrued expenses and other current liabilities 10,144 6,123
Current portion of long-term debt 1,750 875
Current portion of earn-out liability 2,249 3,434
Current portion of operating lease liabilities 1,019 867
Current portion of finance lease liabilities 40 19
Total current liabilities 50,054 31,050
Long-term debt 47,213 60,495
Long-term portion of earn-out liability 0 287
Long-term portion of operating lease liabilities 32,191 32,771
Long-term portion of finance lease liabilities 46 37
Deferred income taxes 1,342 1,957
Other long-term liabilities 84 92
Total non-current liabilities 80,876 95,639
Commitments and contingencies – See Note 13
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 37,037 37,719
Retained earnings 55,014 42,835
Shareholders' equity before treasury stock 102,351 90,854
Less: cost of common stock in treasury - 970,653 and 1,123,319 shares, respectively 9,124 10,559
Total shareholders' equity 93,227 80,295
Total liabilities and shareholders' equity $ 224,157 $ 206,984