Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 55,642 $ 34,828
Contracts receivable and retainage, net 26,619 47,060
Costs and estimated earnings in excess of billings on uncompleted contracts 18,679 12,822
Prepaid expenses and other assets 4,034 3,418
Inventory 18,281 12,936
Assets held for sale 0 4,805
Total current assets 123,255 115,869
Property, plant and equipment, net 211,215 200,384
Intangible assets, net 2,069 0
Other assets 673 670
Total assets 337,212 316,923
Current liabilities:    
Accounts payable 8,654 13,604
Billings in excess of costs and estimated earnings on uncompleted contracts 7,154 7,081
Deferred revenue, current 14,178 0
Accrued contract losses 1,494 9,495
Accrued employee costs 8,493 6,831
Accrued expenses and other liabilities 3,510 890
Total current liabilities 43,483 37,901
Deferred revenue, noncurrent 2,029 0
Other long-term liabilities 109 0
Net deferred tax liabilities 25,476 21,825
Total liabilities 71,097 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, 14,632,507 issued and outstanding at September 30, 2016 and 14,580,216 at December 31, 2015, respectively 10,579 10,352
Additional paid-in capital 98,256 96,194
Retained earnings 157,280 150,651
Total shareholders’ equity 266,115 257,197
Total liabilities and shareholders’ equity $ 337,212 $ 316,923