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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 5,209 $ 4,444
Accounts receivable, net of allowance for doubtful accounts and discounts & allowances of $1,750 and $1,820 at March 31, 2023 and December 31, 2022 respectively 11,985 11,414
Inventories, net 9,292 9,631
Prepaid expenses and other current assets 1,068 1,445
Refundable income taxes 44
Total current assets 27,554 26,978
Property, plant and equipment, net 22,140 20,905
Operating lease right-of-use asset 154 174
Goodwill 11,704 11,704
Intangible assets, net 7,303 7,438
Other assets 1,800 1,800
Total assets 70,655 68,999
Current liabilities    
Current portion of note payable 1,000 1,250
Accounts payable 9,146 7,979
Accrued expenses 3,228 3,813
Accrued income taxes 416 0
Total current liabilities 13,790 13,042
Line of credit 2,777 2,777
Note payable 2,228 2,477
Operating lease liabilities 88 104
Deferred income taxes, net 3,029 3,029
Total liabilities 21,912 21,429
Commitments and contingencies (Note 9)
Stockholders' equity    
Preferred stock, no par value; 2,500 shares authorized; no shares issued or outstanding at March 31, 2023 and December 31, 2022 0 0
Common stock, no par value; 40,000 shares authorized; 17,274 shares issued; 14,645 outstanding at March 31, 2023 and December 31, 2022 6,509 6,509
Paid-in capital 3,967 3,624
Treasury stock, at cost (16,993) (16,993)
Retained earnings 55,260 54,430
Total stockholders' equity 48,743 47,570
Total liabilities and stockholders' equity $ 70,655 $ 68,999