v3.23.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
CURRENT ASSETS:      
Cash and cash equivalents $ 3,082 $ 5,719 $ 5,802
Trade receivables – net 72,566 94,953 115,794
Contract receivables 2,990 0 0
Other receivables 2,225 908 224
Inventories – net 218,327 235,400 287,817
Income tax receivable 3,494 0 6,360
Prepaid expenses 5,522 4,067 5,216
Total current assets 308,206 341,047 421,213
LEASED ASSETS 9,362 11,014 10,376
PROPERTY, PLANT & EQUIPMENT – net 54,032 57,359 61,352
GOODWILL 47,844 50,246 50,246
IDENTIFIED INTANGIBLES – net 114,019 121,782 124,740
OTHER ASSETS 1,049 942 911
TOTAL ASSETS 534,512 582,390 668,838
CURRENT LIABILITIES:      
Accounts payable 61,225 69,686 130,246
Contract liabilities 2,990 0 0
Current Portion of Long-Term Debt 4,625 3,250 3,250
Accrued expenses:      
Salaries and wages 2,791 1,253 4,869
Taxes – other 922 1,325 1,674
Accrued freight 2,491 2,413 2,290
Commissions 844 1,934 1,428
Accrued duty 6,377 6,764 12,144
Accrued interest 2,345 2,822 2,705
Income tax payable 0 1,172 0
Other 5,756 5,675 5,693
Total current liabilities 90,366 96,294 164,299
Long-term debt 217,114 253,646 281,365
LONG-TERM TAXES PAYABLE 169 169 169
LONG-TERM LEASE 6,804 8,216 7,636
DEFERRED INCOME TAXES 8,006 8,006 10,293
DEFERRED LIABILITIES 1,325 586 609
TOTAL LIABILITIES 323,784 366,917 464,371
SHAREHOLDERS' EQUITY:      
Common stock, no par value; 25,000,000 shares authorized; issued and outstanding September 30, 2022 - 7,322,232; December 31, 2021 - 7,302,199; September 30, 2021 - 7,295,435 70,400 69,752 68,680
Retained earnings 140,328 145,721 135,787
Total shareholders' equity 210,728 215,473 204,467
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 534,512 $ 582,390 $ 668,838

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