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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,618 $ 7,989
Short-term investments 507 507
Accounts receivable-trade, net of allowance of $204 and $225 at December 31, 2016 and December 31, 2015 6,717 6,853
Inventories, net of allowance of $60 at both December 31, 2016 and December 31, 2015 1,181 1,325
Cost and estimated earnings in excess of billings on uncompleted contracts 5,829 2,302
Prepaid expenses and other current assets 349 324
Total current assets 16,201 19,300
Property, plant and equipment, net 7,298 7,915
Advances to and investments in foreign joint ventures 10,663 11,104
Retainage receivable 649  
Intangibles 527 218
Other assets 46 49
Total assets 35,384 38,586
Current liabilities:    
Revolving line of credit 1,500 1,043
Current portion of long-term note payable 300 300
Accounts payable and other accrued expenses 9,798 4,907
Accrued payroll and benefits 1,093 476
Billings in excess of costs and estimated earnings on uncompleted contracts 208 1,629
Total current liabilities 12,899 8,355
Long-term note payable 3,900 4,200
Deferred compensation 260 305
Deferred income taxes 2,824 3,064
Total liabilities 19,883 15,924
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $617 at December 31, 2016 and $671 at December 31, 2015; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at December 31, 2016 and December 31, 2015 4,383 4,329
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,499,508 and 8,385,929 shares issued and 8,335,968 and 8,254,001 shares outstanding at December 31, 2016 and December 31, 2015 8 8
Treasury stock, at cost 163,540 shares at December 31, 2016 and 131,928 shares at December 31, 2015 (863) (792)
Additional paid-in capital 12,613 12,032
Accumulated other comprehensive income (2) 310
Retained (deficit) earnings; including accumulated statutory reserves in equity method investments of $2,887 and $2,722 at December 31, 2016 and December 31, 2015 (638) 6,775
Total stockholders’ equity 11,118 18,333
Total liabilities, convertible preferred stock and stockholders’ equity $ 35,384 $ 38,586