Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 17,792 $ 51,167
Contracts receivable and retainage, net 25,513 20,169
Contracts in progress 42,810 26,829
Prepaid expenses and other assets 4,158 3,222
Inventory 12,325 11,973
Assets held for sale 107,010 0
Total current assets 209,608 113,360
Property, plant and equipment, net 90,989 206,222
Other assets 2,783 2,826
Total assets 303,380 322,408
Current liabilities:    
Accounts payable 21,457 9,021
Advance billings on contracts 4,367 3,977
Deferred revenue, current 4,148 11,881
Accrued contract losses 1,982 387
Accrued expenses and other liabilities 13,685 10,032
Income tax payable 0 50
Total current liabilities 45,639 35,348
Net deferred tax liabilities 12,999 23,234
Deferred revenue, noncurrent 0 489
Other liabilities 895 305
Total liabilities 59,533 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, 14,851,949 issued and outstanding at September 30, 2017, and 14,695,020 at December 31, 2016, respectively 10,817 10,641
Additional paid-in capital 100,388 98,813
Retained earnings 132,642 153,578
Total shareholders’ equity 243,847 263,032
Total liabilities and shareholders’ equity $ 303,380 $ 322,408