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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 26,600 $ 17,722
Accounts receivable, less allowance for doubtful accounts of $6,346 and $7,622, respectively 94,859 104,813
Accounts receivable - other 398 3,326
Inventories 122,214 124,976
Contract assets 51,390 52,980
Prepaid expenses and other current assets 11,856 14,166
Total current assets 307,317 317,983
Property, plant and equipment, net 51,460 51,392
Operating lease right-of-use assets 13,853 9,113
Deferred tax asset 10,704 10,718
Intangible assets, net 54,427 55,753
Other assets 12,658 11,982
Total assets 450,419 456,941
Current liabilities:    
Accounts payable 50,580 42,060
Other current liabilities 31,608 38,646
Current portion of long-term debt 3,750 3,750
Current portion of acquisition-related contingent liabilities 806 736
Total current liabilities 86,744 85,192
Long-term debt 139,673 151,567
Long-term pension liability 13,019 12,864
Long-term acquisition-related contingent liabilities 1,612 2,245
Long-term operating lease liabilities 8,468 3,936
Other long-term liabilities 8,248 8,538
Total liabilities 257,764 264,342
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 16,498,312 and 16,376,683 shares, respectively 16 16
Additional paid-in capital 73,730 72,615
Retained earnings 121,572 122,979
Accumulated other comprehensive loss, net of tax:    
Pensions (1,072) (1,113)
Foreign currency translation adjustment (1,591) (1,898)
Total shareholders’ equity 192,655 192,599
Total liabilities and shareholders’ equity $ 450,419 $ 456,941