Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 24,888 $ 55,287
Contract receivables, net 60,535 72,474
Contract retainage 1,298 4,313
Costs and estimated earnings in excess of billings on uncompleted contracts 26,317 12,982
Prepaid subcontractor costs 33,145 9,731
Prepaid expenses and other 4,457 3,344
Inventory 5,024 6,278
Deferred tax assets 13,039 10,157
Income tax receivable 4,901 3,347
Total current assets 173,604 177,913
Property, plant and equipment, net 229,216 216,722
Long-term contracts receivable, net   625
Other receivables      
Other assets 675 675
Total assets 403,495 395,935
Current liabilities:    
Accounts payable 49,485 20,502
Billings in excess of costs and estimated earnings on uncompleted contracts 28,498 49,363
Accrued employee costs 5,340 3,512
Accrued expenses 5,161 2,610
Accrued contract losses 3,790  
Total current liabilities 92,274 75,987
Deferred tax liabilities 37,721 37,149
Total liabilities 129,995 113,136
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, 14,452,660 and 14,376,443 shares issued and outstanding at December 31, 2012 and December 31, 2011 9,956 9,921
Additional paid-in capital 92,512 91,933
Retained earnings 171,032 180,945
Total shareholders' equity 273,500 282,799
Total liabilities and shareholders' equity $ 403,495 $ 395,935