Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 22,283 $ 51,167
Contracts receivable and retainage, net 38,080 20,169
Contracts in progress 31,643 26,829
Prepaid expenses and other assets 2,982 3,222
Inventory 11,871 11,973
Assets held for sale 107,262 0
Total current assets 214,121 113,360
Property, plant and equipment, net 90,698 206,222
Other assets 2,767 2,826
Total assets 307,586 322,408
Current liabilities:    
Accounts payable 19,329 9,021
Advance billings on contracts 8,642 3,977
Deferred revenue, current 5,406 11,881
Accrued contract losses 3,514 387
Accrued expenses and other liabilities 9,236 10,032
Income tax payable 257 50
Total current liabilities 46,384 35,348
Net deferred tax liabilities 14,450 23,234
Deferred revenue, noncurrent 0 489
Other liabilities 698 305
Total liabilities 61,532 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, 14,850,833 issued and outstanding at June 30, 2017, and 14,695,020 at December 31, 2016, respectively 10,711 10,641
Additional paid-in capital 99,442 98,813
Retained earnings 135,901 153,578
Total shareholders’ equity 246,054 263,032
Total liabilities and shareholders’ equity $ 307,586 $ 322,408