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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 18,749 $ 17,722
Accounts receivable, less allowance for doubtful accounts of $4,803 and $7,622, respectively 96,732 104,813
Accounts receivable - other 294 3,326
Inventories 114,419 124,976
Contract assets 47,614 52,980
Prepaid expenses and other current assets 14,645 14,166
Total current assets 292,453 317,983
Property, plant and equipment, net 50,849 51,392
Operating lease right-of-use assets 14,775 9,113
Deferred tax asset 10,691 10,718
Intangible assets, net 53,148 55,753
Other assets 13,364 11,982
Total assets 435,280 456,941
Current liabilities:    
Accounts payable 47,879 42,060
Other current liabilities 34,181 38,646
Current portion of long-term debt 3,750 3,750
Current portion of acquisition-related contingent liabilities 1,375 736
Total current liabilities 87,185 85,192
Long-term debt 122,479 151,567
Long-term pension liability 13,135 12,864
Long-term acquisition-related contingent liabilities 873 2,245
Long-term operating lease liabilities 9,678 3,936
Other long-term liabilities 8,691 8,538
Total liabilities 242,041 264,342
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 16,499,312 and 16,376,683 shares, respectively 16 16
Additional paid-in capital 75,078 72,615
Retained earnings 120,490 122,979
Accumulated other comprehensive loss, net of tax:    
Pensions (1,032) (1,113)
Foreign currency translation adjustment (1,313) (1,898)
Total shareholders’ equity 193,239 192,599
Total liabilities and shareholders’ equity $ 435,280 $ 456,941