Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 50,065 $ 34,828
Contracts receivable and retainage, net 40,501 47,060
Costs and estimated earnings in excess of billings on uncompleted contracts 11,272 12,822
Prepaid expenses and other 4,814 3,418
Inventory 18,932 12,936
Assets held for sale 0 4,805
Total current assets 125,584 115,869
Property, plant and equipment, net 213,689 200,384
Intangible assets, net 2,086 0
Other assets 672 670
Total assets 342,031 316,923
Current liabilities:    
Accounts payable 12,079 13,604
Billings in excess of costs and estimated earnings on uncompleted contracts 7,328 7,081
Deferred revenue, current 16,466 0
Accrued contract losses 3,521 9,495
Accrued employee costs 8,127 6,831
Accrued expenses and other liabilities 2,474 890
Total current liabilities 49,995 37,901
Deferred revenue, noncurrent 1,408 0
Net deferred tax liabilities 25,724 21,825
Total liabilities 77,127 59,726
Shareholders’ equity:    
Preferred stock, no par value, 5,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, no par value, 20,000,000 shares authorized, 14,631,507 issued and outstanding at June 30, 2016 and 14,580,216 at December 31, 2015, respectively 10,499 10,352
Additional paid-in capital 97,520 96,194
Retained earnings 156,885 150,651
Total shareholders’ equity 264,904 257,197
Total liabilities and shareholders’ equity $ 342,031 $ 316,923