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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 4,131,000 $ 1,856,000
Accounts receivable, net 27,584,000 32,424,000
Inventories:    
Raw materials and components 11,640,000 13,041,000
Work in process 1,679,000 1,818,000
Finished goods 5,041,000 6,823,000
Total inventories, net 18,360,000 21,682,000
Contract assets 554,000 888,000
Income tax receivable 2,026,000 653,000
Prepaid expenses and other current assets 3,823,000 3,721,000
Total current assets 56,478,000 61,225,000
Right of use asset 2,754,000 4,484,000
Property, plant and equipment, net 74,052,000 79,206,000
Deferred tax asset 929,000 2,026,000
Goodwill 17,376,000 17,376,000
Intangibles, net 11,516,000 13,464,000
Other non-current assets 2,403,000 1,525,000
Total Assets 165,508,000 179,306,000
Current liabilities:    
Current portion of long-term debt 2,535,000 37,443,000
Current portion of revolving debt 420,000 12,008,000
Accounts payable 16,994,000 19,910,000
Taxes payable 2,613,000 331,000
Contract liabilities 1,319,000 3,698,000
Current portion of post retirement benefits liability 1,286,000 1,233,000
Accrued liabilities:    
Compensation and related benefits 8,305,000 5,515,000
Other 2,523,000 4,027,000
Total current liabilities 35,995,000 83,834,000
Other non-current liabilities 2,560,000 3,119,000
Long-term Debt 25,198,000 0
Post retirement benefits liability 7,823,000 7,927,000
Total Liabilities 71,576,000 94,880,000
Commitments and Contingencies
Stockholders Equity:    
Preferred stock - $0.01 par value, authorized shares - 10,000,000; no shares outstanding at December 31, 2020 and December 31, 2019 0 0
Common stock - $0.01 par value, authorized shares - 20,000,000; outstanding shares: 7,980,516 at December 31, 2020 and 7,877,945 at December 31, 2019 80,000 79,000
Paid-in capital 36,127,000 34,772,000
Accumulated other comprehensive income, net of income taxes 1,375,000 1,370,000
Treasury stock - at cost, 3,810,929 shares at December 31, 2020 and 3,806,355 shares at December 31, 2019 (28,521,000) (28,501,000)
Retained earnings 84,871,000 76,706,000
Total Stockholders' Equity 93,932,000 84,426,000
Total Liabilities and Stockholders' Equity $ 165,508,000 $ 179,306,000