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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 7,449 $ 4,444
Accounts receivable, net of allowance for doubtful accounts and discounts & allowances of $1,390 and $1,820 at June 30, 2023 and December 31, 2022 respectively 11,320 11,414
Inventories, net 9,670 9,631
Prepaid expenses and other current assets 1,214 1,445
Refundable income taxes 4 44
Total current assets 29,657 26,978
Property, plant and equipment, net 21,699 20,905
Operating lease right-of-use asset 136 174
Goodwill 11,704 11,704
Intangible assets, net 7,168 7,438
Other assets 1,800 1,800
Total assets 72,164 68,999
Current liabilities    
Current portion of note payable 1,250 1,250
Accounts payable 5,565 7,979
Accrued expenses 4,294 3,813
Accrued income taxes 1,024 0
Total current liabilities 12,133 13,042
Line of credit 2,777 2,777
Note payable 1,980 2,477
Operating lease liabilities 73 104
Deferred income taxes, net 3,029 3,029
Total liabilities 19,992 21,429
Commitments and contingencies (Note 9)
Stockholders’ equity    
Preferred stock, no par value; 2,500 shares authorized; no shares issued or outstanding at June 30, 2023 and December 31, 2022 0 0
Common stock, no par value; 40,000 shares authorized; 17,274 shares issued; 14,656 and 14,645 outstanding at June 30, 2023 and December 31, 2022, respectively 6,509 6,509
Paid-in capital 4,167 3,624
Treasury stock, at cost (16,920) (16,993)
Retained earnings 58,416 54,430
Total stockholders' equity 52,172 47,570
Total liabilities and stockholders' equity $ 72,164 $ 68,999