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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 11,464 $ 18,364
Accounts receivable (less allowance for doubtful accounts of $144 and $474 at March 31, 2024 and December 31, 2023, respectively) 32,778 34,313
Contract assets and unbilled accounts receivable 8,278 7,935
Prepaid expenses 2,222 1,915
Prepaid income taxes and income tax receivable 1,758 1,758
Other current assets 1,270 928
Total current assets 57,770 65,213
Property, plant and equipment (less accumulated depreciation of $37,225 and $36,533, respectively) 8,412 8,855
Right-of-use assets 24,507 25,417
Other assets    
Intangible assets, net 2,640 2,820
Goodwill 1,926 1,926
Deferred tax assets, net 17,106 17,268
Other long-term assets 1,083 1,258
Total other assets 22,755 23,272
Total assets 113,444 122,757
Current liabilities    
Accounts payable and accrued expenses 15,991 23,176
Accrued payroll and related expenses 4,749 5,615
Deferred revenue and customer advances 3,713 3,195
Customer postage and program deposits 1,603 1,815
Other current liabilities 9,580 9,495
Current portion of lease liabilities 4,519 4,815
Total current liabilities 40,155 48,111
Long-term lease liabilities, net of current portion 22,811 23,691
Other long-term liabilities 1,924 1,928
Total liabilities 93,482 102,900
Stockholders’ equity    
Common stock, $1 par value, 25,000,000 shares authorized;12,221,484 shares issued, 7,240,905 and 7,224,718 shares outstanding at March 31, 2024 and December 31, 2023, respectively 12,221 12,221
Additional paid-in capital 153,177 157,889
Retained earnings 844,749 844,920
Less treasury stock, 4,980,579 shares at cost at March 31, 2024 and 4,996,766 shares at cost at December 31, 2023 (945,906) (951,083)
Accumulated other comprehensive loss (44,279) (44,090)
Total stockholders’ equity 19,962 19,857
Total liabilities and stockholders’ equity 113,444 122,757
Qualified Plan    
Current liabilities    
Pension liabilities 10,166 10,540
Nonqualified Plan    
Current liabilities    
Pension liabilities $ 18,426 $ 18,630