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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
[1]
Cash $ 730 $ 351
Restricted Cash 244 309
Accounts Receivable, less allowances of $325 and $335 20,226 18,558
Inventories 15,363 14,279
Contract Assets 6,774 7,659
Prepaid Expenses and Other Current Assets 2,119 2,128
Total Current Assets 45,456 43,284
Property and Equipment, Net 9,338 9,581
Operating Lease Assets 4,637 4,827
Goodwill 2,375 2,375
Other Intangible Assets, Net 1,297 1,343
Total Assets 63,103 61,410
Current Liabilities    
Current Maturities of Long-Term Debt 444 444
Current Portion of Finance Lease Obligation 611 557
Current Portion of Operating Lease Obligations 825 858
Accounts Payable 16,369 14,014
Accrued Payroll and Commissions 2,800 3,493
Other Accrued Liabilities 2,738 2,866
Total Current Liabilities 23,787 22,232
Long-Term Liabilities    
Long Term Line of Credit 10,255 10,088
Long-Term Debt, Net 3,069 3,179
Long Term Finance Lease Obligation, Net 1,537 1,451
Long-Term Operating Lease Obligation, Net 4,252 4,366
Other Long-Term Liabilities 112 118
Total Long-Term Liabilities 19,225 19,202
Total Liabilities 43,012 41,434
Commitments and Contingencies
Shareholders' Equity    
Preferred Stock, $1 par value; 1,000,000 Shares Authorized: 250,000 Shares Issued and Outstanding 250 250
Common Stock - $0.01 par value; 9,000,000 Shares Authorized: 2,657,530 and 2,657,530 Shares Issued and Outstanding, respectively 27 27
Additional Paid-In Capital 15,787 15,748
Accumulated Other Comprehensive Loss (318) (257)
Retained Earnings 4,345 4,208
Total Shareholders' Equity 20,091 19,976
Total Liabilities and Shareholders' Equity $ 63,103 $ 61,410
[1] The balance sheet at December 31, 2019 has been derived from the audited financial statements at that date