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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 10,305 $ 8,935
Accounts receivable, less allowance for doubtful accounts of $7,248 and $6,393, respectively 110,375 107,053
Accounts receivable - other 4,217 5,546
Inventories 127,036 120,555
Contract assets 46,088 38,018
Prepaid expenses and other current assets 20,367 19,162
Total current assets 318,388 299,269
Property, plant and equipment, net 52,970 49,690
Operating lease right-of-use assets 9,513 8,246
Deferred tax asset 1,440 0
Intangible assets, net 58,429 60,420
Goodwill 21,587 39,434
Other assets 11,353 13,186
Total assets 473,680 470,245
Current liabilities:    
Accounts payable 48,569 52,340
Other current liabilities 40,630 38,989
Current portion of long-term debt 15,286 15,286
Current portion of acquisition-related contingent liabilities 1,304 4,507
Total current liabilities 105,789 111,122
Long-term debt 133,407 100,845
Long-term pension liability 15,679 15,420
Long-term acquisition-related contingent liabilities 2,754 2,569
Long-term operating lease liabilities 4,495 3,729
Deferred tax liability 0 359
Other long-term liabilities 8,411 9,211
Commitments and contingencies (Note 6)
Shareholders’ equity:    
Preferred stock, $.001 par value - authorized 300,000 shares (none issued) 0 0
Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding 16,318,059 and 16,127,505 shares, respectively 16 16
Additional paid-in capital 70,629 69,351
Retained earnings 137,986 163,836
Accumulated other comprehensive income (loss), net of tax:    
Pensions (3,939) (4,577)
Cash flow hedges 37 47
Foreign currency translation adjustment (1,584) (1,683)
Total shareholders’ equity 203,145 226,990
Total liabilities and shareholders’ equity $ 473,680 $ 470,245