XML 46 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 5,422 $ 4,477
Accounts receivable-trade, net of allowance of $354 and $225 at June 30, 2013 and December 31, 2012 8,675 9,731
Inventories, net 6,796 5,616
Costs and estimated earnings in excess of billings on uncompleted contracts 4,155 2,205
Prepaid expenses and other current assets 1,535 318
Total current assets 26,583 22,347
Property, plant and equipment, net 5,144 4,922
Investments in foreign joint ventures 12,741 11,408
Other assets 232 297
Total assets 44,700 38,974
Current liabilities:    
Accounts payable 6,480 4,438
Accrued payroll and benefits 1,250 1,519
Other accrued expenses 337 513
Billings in excess of costs and estimated earnings on uncompleted contracts 4,221 3,576
Short-term notes payable   54
Other current liabilities 14 9
Total current liabilities 12,302 10,109
Notes payable 500 500
Deferred income taxes 3,646 3,058
Deferred compensation 174 122
Total liabilities 16,622 13,789
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $785 at June 30, 2013 and $806 at December 31, 2012; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at June 30, 2013 and December 31, 2012 4,215 4,194
Stockholders' equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,002,916 and 7,919,032 shares issued and outstanding at June 30, 2013 and December 31, 2012 8 8
Treasury stock, at cost (49,863 shares at June 30, 2013 and 20,222 shares at December 31, 2012) (238) (92)
Additional paid-in capital 9,951 9,597
Accumulated other comprehensive income 849 900
Retained earnings; including accumulated statutory reserves in equity method investments of $1,857 and $1,620 at June 30, 2013 and December 31, 2012 13,293 10,578
Total stockholders' equity 23,863 20,991
Total liabilities and stockholders' equity $ 44,700 $ 38,974