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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,098 $ 1,618
Restricted short-term investments 50 507
Accounts receivable-trade, net of allowance of $89 and $204 at September 30, 2017 and December 31, 2016 7,822 6,717
Inventories, net of allowance of $134 and $60 at September 30, 2017 and December 31, 2016 1,169 1,181
Cost and estimated earnings in excess of billings on uncompleted contracts 7,477 5,829
Prepaid expenses and other current assets 233 349
Total current assets 17,849 16,201
Property, plant and equipment, net 6,936 7,298
Advances to and investments in foreign joint ventures 10,546 10,663
Retainage receivable 772 649
Intangibles 476 527
Other assets 107 46
Total assets 36,686 35,384
Current liabilities:    
Revolving line of credit   1,500
Current portion of long-term note payable   300
Short-term note payable 238  
Accounts payable and other accrued expenses 11,528 9,798
Accrued payroll and benefits 1,188 1,093
Billings in excess of costs and estimated earnings on uncompleted contracts 3,003 208
Total current liabilities 15,957 12,899
Long-term note payable, net 6,132 3,900
Deferred compensation 225 260
Deferred income taxes 2,805 2,824
Total liabilities 25,119 19,883
Convertible preferred stock:    
Redeemable convertible preferred stock, Series A, net of discount of $576 at September 30, 2017 and $617 at December 31, 2016; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at September 30, 2017 and December 31, 2016 4,424 4,383
Stockholders’ equity:    
Common stock; $0.001 par value, 50,000,000 shares authorized, 8,799,948 and 8,499,508 shares issued and 8,619,066 and 8,335,968 shares outstanding at September 30, 2017 and December 31, 2016 9 8
Treasury stock, at cost 180,882 and 163,540 shares at September 30, 2017 and December 31, 2016 (916) (863)
Additional paid-in capital 13,277 12,613
Accumulated other comprehensive income 272 (2)
Retained Deficit; including accumulated statutory reserves in equity method investments of $2,887 at September 30, 2017 and December 31, 2016 (5,499) (638)
Total stockholders’ equity 7,143 11,118
Total liabilities, convertible preferred stock and stockholders’ equity $ 36,686 $ 35,384