XML 23 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 6,084 $ 3,749
Accounts receivable-trade, net of allowance of 241 and $393 at September 30, 2012 and December 31, 2011, respectively 8,232 11,291
Inventories, net 5,577 4,945
Costs and estimated earnings in excess of billings on uncompleted contracts 1,486 2,026
Prepaid expenses and other current assets 153 336
Total current assets 21,532 22,347
Property, plant and equipment, net 4,561 4,489
Investments in foreign joint ventures 11,059 9,308
Other assets 330 87
Total assets 37,482 36,231
Current liabilities:    
Accounts payable 4,445 5,772
Accrued payroll and benefits 1,070 1,414
Other accrued expenses 438 855
Billings in excess of costs and estimated earnings on uncompleted contracts 2,135 2,909
Short-term notes payable 94 154
Total current liabilities 8,182 11,104
Notes payable 1,500 5,057
Deferred income taxes 2,957 2,433
Deferred compensation 121 116
Total liabilities 12,760 18,710
Convertible preferred stock    
Mandatorily redeemable convertible preferred stock - Series A, net of discount of $816 and $0 at September 30, 2012 and December 31, 2011; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at September 30, 2012, none at December 31,2011 4,184   
Common stockholders' equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 7,937,783 and 7,828,509 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively 8 8
Additional paid-in capital 9,555 8,171
Treasury stock; 20,222 shares at cost (92)   
Accumulated other comprehensive income, foreign currency translation, net 978 849
Retained earnings; including accumulated statutory reserves in equity method investments of $1,620 and $1,284 at September 30, 2012 and December 31, 2011, respectively 10,089 8,493
Total common stockholders' equity 20,538 17,521
Total liabilities, preferred stock and stockholders' equity $ 37,482 $ 36,231