Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 53,384 $ 36,085
Contracts receivable, net 37,402 80,448
Costs and estimated earnings in excess of billings on uncompleted contracts 25,358 26,989
Prepaid expenses and other 3,563 4,510
Inventory 9,895 10,140
Deferred tax assets 1,155 2,646
Income tax receivable 0 1,350
Assets held for sale 10,327 10,327
Total current assets 141,084 172,495
Property, plant and equipment, net 215,790 224,777
Other assets 672 671
Total assets 357,546 397,943
Current liabilities:    
Accounts payable 15,779 40,272
Billings in excess of costs and estimated earnings on uncompleted contracts 9,228 18,766
Accrued contract losses 213 817
Accrued employee costs 7,217 7,723
Income tax payable 100 0
Accrued expenses and other liabilities 2,384 5,187
Total current liabilities 34,921 72,765
Deferred tax liabilities 37,174 39,380
Total liabilities 72,095 112,145
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, 14,541,268 issued and outstanding at June 30, 2015 and 14,539,104 at December 31, 2014, respectively 10,204 10,090
Additional paid-in capital 94,857 93,828
Retained earnings 180,390 181,880
Total shareholders’ equity 285,451 285,798
Total liabilities and shareholders’ equity $ 357,546 $ 397,943