Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 45,301 $ 36,085
Contracts receivable and retainage, net 35,347 80,448
Costs and estimated earnings in excess of billings on uncompleted contracts 27,226 26,989
Prepaid expenses and other 2,438 4,510
Inventory 13,346 10,140
Deferred tax assets 2,260 2,646
Income tax receivable 1,349 1,350
Assets held for sale 0 10,327
Total current assets 127,267 172,495
Property, plant and equipment, net 211,355 224,777
Other assets 674 671
Total assets 339,296 397,943
Current liabilities:    
Accounts payable 14,870 40,272
Billings in excess of costs and estimated earnings on uncompleted contracts 5,272 18,766
Accrued contract losses 2,184 817
Accrued employee costs 8,066 7,723
Accrued expenses and other liabilities 2,817 5,187
Total current liabilities 33,209 72,765
Deferred tax liabilities 33,530 39,380
Total liabilities 66,739 112,145
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, 14,542,971 issued and outstanding at September 30, 2015 and 14,539,104 at December 31, 2014, respectively 10,275 10,090
Additional paid-in capital 95,496 93,828
Retained earnings 166,786 181,880
Total shareholders’ equity 272,557 285,798
Total liabilities and shareholders’ equity $ 339,296 $ 397,943