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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 7,109 $ 7,989
Restricted short-term investments 507 507
Accounts receivable-trade, net of allowance of $271 and $225 at March 31, 2016 and December 31, 2015 4,628 6,853
Inventories, net of allowance of $78 and $60 at March 31, 2016 and December 31, 2015 965 1,325
Cost and estimated earnings in excess of billings on uncompleted contracts 4,006 2,302
Prepaid expenses and other current assets 283 324
Total current assets 17,498 19,300
Property, plant and equipment, net 7,848 7,915
Advances to and investments in foreign joint ventures 11,251 11,104
Intangibles 218 218
Other assets 72 49
Total assets 36,887 38,586
Current liabilities:    
Revolving line of credit 2,000 1,043
Current portion of long-term note payable 300 300
Accounts payable 3,555 4,031
Accrued payroll and benefits 625 476
Other accrued expenses 486 666
Billings in excess of costs and estimated earnings on uncompleted contracts 2,289 1,629
Other current liabilities 143 210
Total current liabilities 9,398 8,355
Long-term note payable 4,200 4,200
Deferred compensation 294 305
Deferred income taxes 3,058 3,064
Total liabilities 16,950 15,924
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $658 at March 31, 2016 and $671 at December 31, 2015; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2016 and December 31, 2015 4,342 4,329
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,436,295 and 8,385,929 shares issued and 8,290,418 and 8,254,001 shares outstanding at March 31, 2016 and December 31, 2015 8 8
Treasury stock, at cost 145,877 shares at March 31, 2016 and 131,928 shares at December 31, 2015 (828) (792)
Additional paid-in capital 12,202 12,032
Accumulated other comprehensive income 409 310
Retained earnings; including accumulated statutory reserves in equity method investments of $2722 at March 31, 2016 and December 31, 2015 3,804 6,775
Total stockholders’ equity 15,595 18,333
Total liabilities, convertible preferred stock and stockholders’ equity $ 36,887 $ 38,586