Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,856,000	$ 1,891,000
Accounts receivable, net	32,424,000	45,468,000
Inventories:
Raw materials and components	13,041,000	17,278,000
Work in process	1,818,000	2,034,000
Finished goods	6,823,000	6,453,000
Total inventories, net	21,682,000	25,765,000
Contract with Customer, Asset, Net	888,000	3,915,000
Foreign sales tax receivable	2,627,000	1,789,000
Prepaid expenses and other current assets	1,748,000	1,474,000
Total current assets	61,225,000	80,302,000
Operating Lease, Right-of-Use Asset	4,484,000	0
Property, plant and equipment, net	79,206,000	80,657,000
Deferred Tax Assets, Net, Noncurrent	2,026,000	1,153,000
Goodwill	17,376,000	21,476,000
Intangible Assets, Net (Excluding Goodwill)	13,464,000	15,413,000
Other Assets, Noncurrent	1,525,000	2,197,000
Total Assets	179,306,000	201,198,000
Current liabilities:
Current portion of long-term debt	37,443,000	3,230,000
Line of Credit, Current	12,008,000	0
Accounts payable	19,910,000	25,450,000
Contract with Customer, Liability	3,698,000	1,686,000
Current portion of post retirement benefits liability	1,233,000	1,157,000
Accrued liabilities:
Compensation and related benefits	5,515,000	5,154,000
Other	4,027,000	3,514,000
Total current liabilities	83,834,000	40,191,000
Operating Lease, Liability, Noncurrent	3,119,000	0
Long-term Debt	0	37,784,000
Long-term Line of Credit	0	17,375,000
Post retirement benefits liability	7,927,000	6,919,000
Total Liabilities	94,880,000	102,269,000
Commitments and Contingencies	0	0
Stockholders’ Equity:
Preferred stock — $0.01 par value, authorized shares - 10,000,000; no shares outstanding at December 31, 2019 and December 31, 2018	0	0
Common stock — $0.01 par value, authorized shares - 20,000,000; outstanding shares: 7,877,945 at December 31, 2019 and 7,776,164 at December 31, 2018	79,000	78,000
Paid-in capital	34,772,000	33,208,000
Accumulated other comprehensive income, net of income taxes	1,370,000	2,117,000
Treasury stock — at cost, 3,806,355 shares at December 31, 2019 and 3,790,308 shares at December 31, 2018	(28,501,000)	(28,403,000)
Retained earnings	76,706,000	91,929,000
Total Stockholders’ Equity	84,426,000	98,929,000
Total Liabilities and Stockholders’ Equity	$ 179,306,000	$ 201,198,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 8
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130549-203045

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682