XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,961 $ 7,989
Restricted short-term investments 507 507
Accounts receivable-trade, net of allowance of $257 and $225 at June 30, 2016 and December 31, 2015 7,444 6,853
Inventories, net of allowance of $73 and $60 at June 30, 2016 and December 31, 2015 1,093 1,325
Cost and estimated earnings in excess of billings on uncompleted contracts 5,374 2,302
Prepaid expenses and other current assets 298 324
Total current assets 18,677 19,300
Property, plant and equipment, net 7,591 7,915
Advances to and investments in foreign joint ventures 10,650 11,104
Intangibles 409 218
Other assets 64 49
Total assets 37,391 38,586
Current liabilities:    
Revolving line of credit 900 1,043
Current portion of long-term note payable 300 300
Accounts payable and other accrued expenses 7,463 4,907
Accrued payroll and benefits 631 476
Billings in excess of costs and estimated earnings on uncompleted contracts 906 1,629
Total current liabilities 10,200 8,355
Long-term note payable 4,050 4,200
Deferred compensation 283 305
Deferred income taxes 2,901 3,064
Total liabilities 17,434 15,924
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $645 at June 30, 2016 and $671 at December 31, 2015; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at June 30, 2016 and December 31, 2015 4,355 4,329
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,438,630 and 8,385,929 shares issued and 8,292,753 and 8,254,001 shares outstanding at June 30, 2016 and December 31, 2015 8 8
Treasury stock, at cost 145,877 shares at June 30, 2016 and 131,928 shares at December 31, 2015 (827) (792)
Additional paid-in capital 12,309 12,032
Accumulated other comprehensive income 245 310
Retained earnings; including accumulated statutory reserves in equity method investments of $2,722 at June 30, 2016 and December 31, 2015 3,867 6,775
Total stockholders’ equity 15,602 18,333
Total liabilities, convertible preferred stock and stockholders’ equity $ 37,391 $ 38,586