Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 34,663 $ 51,167
Contracts receivable and retainage, net 21,061 20,169
Contracts in progress 30,380 26,829
Prepaid expenses and other assets 2,369 3,222
Inventory 11,798 11,973
Assets held for sale 110,545 0
Total current assets 210,816 113,360
Property, plant and equipment, net 91,014 206,222
Other assets 2,830 2,826
Total assets 304,660 322,408
Current liabilities:    
Accounts payable 8,501 9,021
Advance billings on contracts 4,762 3,977
Deferred revenue, current 6,577 11,881
Accrued contract losses 152 387
Accrued expenses and other liabilities 7,541 10,032
Income tax payable 347 50
Total current liabilities 27,880 35,348
Net deferred tax liabilities 20,199 23,234
Deferred revenue, noncurrent 80 489
Other liabilities 501 305
Total liabilities 48,660 59,376
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, 14,850,154 issued and outstanding at March 31, 2017, and 14,695,020 at December 31, 2016, respectively 10,598 10,641
Additional paid-in capital 98,427 98,813
Retained earnings 146,975 153,578
Total shareholders’ equity 256,000 263,032
Total liabilities and shareholders’ equity $ 304,660 $ 322,408