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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 8,246 $ 3,550
Accounts receivable-trade, net of allowance of $285 and $315 at June 30, 2015 and December 31, 2014 7,641 11,877
Inventories, net of allowance of $108 and $73 at June 30, 2015 and December 31, 2014 2,110 2,769
Cost and estimated earnings in excess of billings on uncompleted contracts 3,789 2,989
Prepaid expenses and other current assets 504 750
Total current assets 22,290 21,935
Property, plant and equipment, net 8,363 8,373
Advances to and investments in foreign joint ventures 11,436 12,054
Other assets 502 242
Long-term assets held for sale 650 650
Total assets 43,241 43,254
Current liabilities:    
Accounts payable 4,271 6,447
Accrued payroll and benefits 710 1,145
Other accrued expenses 459 640
Billings in excess of costs and estimated earnings on uncompleted contracts 2,715 1,983
Revolving line of credit 1,500  
Current portion of long-term note payable 267 222
Other current liabilities 67 150
Total current liabilities 9,989 10,587
Long-term note payable 3,644 3,778
Deferred income taxes 2,996 3,046
Deferred compensation 297 290
Total liabilities 16,926 17,701
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $695 at June 30, 2015 and $719 at December 31, 2014; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at June 30, 2015 and December 31, 2014 4,305 4,281
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,250,897 and 8,185,323 shares issued and outstanding at June 30, 2015 and December 31, 2014 8 8
Treasury stock, at cost 131,928 shares at June 30, 2015 and 111,640 shares at December 31, 2014 (792) (722)
Additional paid-in capital 11,674 11,418
Accumulated other comprehensive income 756 851
Retained earnings; including accumulated statutory reserves in equity method investments of $2,237 and $2,100 at June 30, 2015 and December 31, 2014 10,364 9,717
Total stockholders’ equity 22,010 21,272
Total liabilities and stockholders’ equity $ 43,241 $ 43,254