Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 28,069 $ 57,606
Accounts receivable, net of allowance for credit losses of $119 and $1,004, respectively 18,642 10,040
Advances and other receivables 5,406 5,389
Inventories 10,488 8,742
Prepaid expenses and other current assets 2,115 1,243
Total current assets 64,720 83,020
Property, plant and equipment, net 15,693 15,762
Right-of-use assets, operating leases, net 9,074 9,368
Goodwill 4,735 0
Intangible assets, net 10,008 2,833
Deferred income taxes 279 0
Deferred charges, net 301 401
Other non-current assets, net 1,506 553
Total assets 106,316 111,937
Current liabilities:    
Accounts payable 9,125 5,490
Accrued expenses and other current liabilities 3,689 5,389
Current portion of note payable 997 433
Deferred revenue 34 0
Current portion of operating lease liabilities 754 712
Current portion of finance lease liabilities 340 331
Total current liabilities 14,939 12,355
Long-term portion of operating lease liabilities 11,105 11,496
Long-term portion of finance lease liabilities 635 808
Deferred income taxes 0 241
Other long-term liabilities 41 45
Total non-current liabilities 11,781 12,590
Total liabilities 26,720 24,945
Commitments and contingencies – See Note 14
Shareholders' equity:    
Common stock, par value $1 per share; 24,000,000 shares authorized; 9,009,453 and 9,400,898 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 11,085 11,085
Capital in excess of par value 47,791 48,276
Retained earnings 44,476 45,786
Shareholders' equity before treasury stock 103,352 105,147
Less: cost of common stock in treasury - 2,075,650 and 1,684,205 shares, respectively (23,756) (18,155)
Total shareholders' equity 79,596 86,992
Total liabilities and shareholders' equity $ 106,316 $ 111,937