Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 34,828 $ 36,085
Contract retainage 52 0
Contracts receivable, net 47,008 80,448
Costs and estimated earnings in excess of billings on uncompleted contracts 12,822 26,989
Prepaid expenses and other 3,418 4,510
Inventory 12,936 10,140
Income tax receivable 0 1,350
Assets held for sale 4,805 10,327
Total current assets 115,869 169,849
Property, plant and equipment, net 200,384 224,777
Other assets 670 671
Total assets 316,923 395,297
Current liabilities:    
Accounts payable 13,604 40,272
Billings in excess of costs and estimated earnings on uncompleted contracts 7,081 18,766
Accrued contract losses 9,495 817
Accrued employee costs 6,831 7,723
Accrued expenses and other liabilities 777 5,187
Income taxes payable 113 0
Total current liabilities 37,901 72,765
Net deferred tax liabilities 21,825 36,734
Total liabilities $ 59,726 $ 109,499
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, 14,580,216 issued and outstanding at December 31, 2015 and 14,539,104 at December 31, 2014, respectively $ 10,352 $ 10,090
Additional paid-in capital 96,194 93,828
Retained earnings 150,651 181,880
Total shareholders’ equity 257,197 285,798
Total liabilities and shareholders’ equity $ 316,923 $ 395,297