Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 421 $ 1,441
Accounts receivable, net of allowance for credit losses of $975 and $1,250, respectively 46,779 45,120
Inventories, net 99,792 114,452
Prepaid expenses and other current assets 11,400 8,982
Assets held for sale 0 380
Total current assets 158,392 170,375
Property, plant and equipment, net 41,445 42,346
Right-of-use assets, operating leases, net 28,871 29,224
Goodwill 11,389 11,389
Intangible assets, net 9,991 10,387
Deferred income taxes 1,000 1,353
Deferred charges, net 178 203
Other non-current assets, net 3,766 3,766
Total assets 255,032 269,043
Current liabilities:    
Accounts payable 25,783 22,731
Accrued expenses and other current liabilities 8,040 6,560
Current portion of note payable 98 387
Current portion of long-term debt 2,464 2,464
Current portion of operating lease liabilities 1,077 1,056
Current portion of finance lease liabilities 273 280
Total current liabilities 37,735 33,478
Long-term debt 56,189 69,085
Long-term portion of operating lease liabilities 30,628 30,911
Long-term portion of finance lease liabilities 1,378 1,242
Other long-term liabilities 58 68
Total non-current liabilities 88,253 101,306
Commitments and contingencies – See Note 12
Shareholders' equity:    
Common stock, par value $1 per share; 24,000,000 shares authorized; 11,085,103 and 10,172,265 shares issued and outstanding, respectively 11,085 11,085
Capital in excess of par value 46,903 47,021
Retained earnings 79,947 85,146
Shareholders' equity before treasury stock 137,935 143,252
Less: cost of common stock in treasury - 912,838 and 924,504 shares, respectively (8,891) (8,993)
Total shareholders' equity 129,044 134,259
Total liabilities and shareholders' equity $ 255,032 $ 269,043