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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 10,974 $ 18,364
Accounts receivable (less allowance for doubtful accounts of $14 and $474 at June 30, 2024 and December 31, 2023, respectively) 30,564 34,313
Contract assets and unbilled accounts receivable 8,119 7,935
Prepaid expenses 2,330 1,915
Prepaid income taxes and income tax receivable 1,758 1,758
Other current assets 1,292 928
Total current assets 55,037 65,213
Property, plant and equipment (less accumulated depreciation of $37,701 and $36,533, respectively) 8,430 8,855
Right-of-use assets 23,896 25,417
Other assets    
Intangible assets, net 2,460 2,820
Goodwill 1,926 1,926
Deferred tax assets, net 17,131 17,268
Other long-term assets 853 1,258
Total other assets 22,370 23,272
Total assets 109,733 122,757
Current liabilities    
Accounts payable and accrued expenses 20,248 23,176
Accrued payroll and related expenses 4,410 5,615
Deferred revenue and customer advances 3,484 3,195
Customer postage and program deposits 1,318 1,815
Other current liabilities 2,808 9,495
Current portion of lease liabilities 4,134 4,815
Total current liabilities 36,402 48,111
Long-term lease liabilities, net of current portion 22,291 23,691
Other long-term liabilities 2,476 1,928
Total liabilities 89,125 102,900
Stockholders’ equity    
Common stock, $1 par value, 25,000,000 shares authorized; 12,221,484 shares issued, 7,279,945 and 7,224,718 shares outstanding at June 30, 2024 and December 31, 2023, respectively 12,221 12,221
Additional paid-in capital 145,703 157,889
Retained earnings 816,915 844,920
Less treasury stock, 4,941,541 shares at cost at June 30, 2024 and 4,996,766 shares at cost at December 31, 2023 (937,728) (951,083)
Accumulated other comprehensive loss (16,503) (44,090)
Total stockholders’ equity 20,608 19,857
Total liabilities and stockholders’ equity 109,733 122,757
Qualified Plan    
Current liabilities    
Pension liabilities 9,766 10,540
Nonqualified Plan    
Current liabilities    
Pension liabilities $ 18,190 $ 18,630