Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 42,697 $ 55,287
Contracts receivable, net 52,391 72,474
Contract retainage 6,107 4,313
Costs and estimated earnings in excess of billings on uncompleted contracts 20,602 12,982
Prepaid expenses 13,532 13,075
Inventory 5,740 6,278
Deferred tax assets 6,880 10,157
Income tax receivable 1,891 3,347
Total current assets 149,840 177,913
Property, plant and equipment, net 225,866 216,722
Long-term contracts receivable, net   625
Other assets 673 675
Total assets 376,379 395,935
Current liabilities:    
Accounts payable 17,742 20,502
Billings in excess of costs and estimated earnings on uncompleted contracts 23,075 49,363
Accrued employee costs 7,237 3,512
Accrued expenses 2,832 2,610
Total current liabilities 50,886 75,987
Deferred tax liabilities 37,296 37,149
Total liabilities 88,182 113,136
Shareholders' equity:    
Preferred stock, no par value, 5,000,000 shares authorized, no shares issued and outstanding      
Common stock, no par value, 20,000,000 shares authorized, 14,385,039 issued and outstanding at March 31, 2012 and 14,376,443 at December 31, 2011, respectively 9,928 9,921
Additional paid-in capital 92,002 91,933
Retained earnings 186,267 180,945
Total shareholders' equity 288,197 282,799
Total liabilities and shareholders' equity $ 376,379 $ 395,935