Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 39,202 $ 34,828
Contracts receivable and retainage, net 45,306 47,060
Costs and estimated earnings in excess of billings on uncompleted contracts 13,891 12,822
Prepaid expenses and other 2,768 3,418
Inventory 17,823 12,936
Assets held for sale 0 4,805
Total current assets 118,990 115,869
Property, plant and equipment, net 217,403 200,384
Intangible assets, net 2,105 0
Other assets 670 670
Total assets 339,168 316,923
Current liabilities:    
Accounts payable 8,922 13,604
Billings in excess of costs and estimated earnings on uncompleted contracts 7,685 7,081
Deferred revenue, current 20,179 0
Accrued contract losses 5,859 9,495
Accrued employee costs 7,618 6,831
Accrued expenses and other liabilities 1,629 890
Total current liabilities 51,892 37,901
Deferred revenue, noncurrent 6,284 0
Net deferred tax liabilities 22,369 21,825
Total liabilities 80,545 59,726
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, 14,630,686 issued and outstanding at March 31, 2016 and 14,580,216 at December 31, 2015, respectively 10,411 10,352
Additional paid-in capital 96,718 96,194
Retained earnings 151,494 150,651
Total shareholders’ equity 258,623 257,197
Total liabilities and shareholders’ equity $ 339,168 $ 316,923