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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,559 $ 1,618
Restricted short-term investments 507 507
Accounts receivable-trade, net of allowance of $211 and $204 at March 31, 2017 and December 31, 2016 5,110 6,717
Inventories, net of allowance of $134 and $60 at March 31, 2017 and December 31, 2016 958 1,181
Cost and estimated earnings in excess of billings on uncompleted contracts 6,170 5,829
Prepaid expenses and other current assets 422 349
Total current assets 14,726 16,201
Property, plant and equipment, net 7,187 7,298
Advances to and investments in foreign joint ventures 10,730 10,663
Retainage receivable 649 649
Intangibles 510 527
Other assets 74 46
Total assets 33,876 35,384
Current liabilities:    
Revolving line of credit   1,500
Current portion of long-term note payable 500 300
Accounts payable and other accrued expenses 9,001 9,798
Accrued payroll and benefits 1,018 1,093
Billings in excess of costs and estimated earnings on uncompleted contracts 716 208
Total current liabilities 11,235 12,899
Long-term note payable 6,166 3,900
Deferred compensation 248 260
Deferred income taxes 2,864 2,824
Total liabilities 20,513 19,883
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $604 at March 31, 2017 and $617 at December 31, 2016; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2017 and December 31, 2016 4,396 4,383
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,650,410 and 8,499,508 shares issued and 8,486,870 and 8,335,968 shares outstanding at March 31, 2017 and December 31, 2016 8 8
Treasury stock, at cost 163,540 shares at March 31, 2017 and at December 31, 2016 (863) (863)
Additional paid-in capital 13,005 12,613
Accumulated other comprehensive income 39 (2)
Retained earnings; including accumulated statutory reserves in equity method investments of $2,887 at March 31, 2017 and December 31, 2016 (3,222) (638)
Total stockholders’ equity 8,967 11,118
Total liabilities, convertible preferred stock and stockholders’ equity $ 33,876 $ 35,384