v3.23.3
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
CURRENT ASSETS:      
Cash and cash equivalents $ 4,240 $ 5,719 $ 7,277
Trade receivables – net 97,844 94,953 118,193
Contract receivables 2,990 0 0
Other receivables 2,207 908 490
Inventories – net 194,734 235,400 265,082
Income tax receivable 2,445 0 1,633
Prepaid expenses 4,985 4,067 4,360
Total current assets 309,445 341,047 397,035
LEASED ASSETS 7,982 11,014 9,971
PROPERTY, PLANT & EQUIPMENT – net 53,124 57,359 60,271
GOODWILL 47,844 50,246 50,246
IDENTIFIED INTANGIBLES – net 113,321 121,782 122,552
OTHER ASSETS 1,015 942 878
TOTAL ASSETS 532,731 582,390 640,953
CURRENT LIABILITIES:      
Accounts payable 62,733 69,686 101,683
Contract liabilities 2,990 0 0
Current Portion of Long-Term Debt 2,704 3,250 3,250
Accrued expenses:      
Salaries and wages 2,685 1,253 3,667
Taxes – other 832 1,325 1,784
Accrued freight 2,707 2,413 3,842
Commissions 823 1,934 1,619
Accrued duty 6,395 6,764 8,051
Accrued interest 2,280 2,822 2,314
Income tax payable 0 1,172 0
Other 5,553 5,675 5,486
Total current liabilities 89,702 96,294 131,696
Long-term debt 211,190 253,646 281,515
LONG-TERM TAXES PAYABLE 169 169 169
LONG-TERM LEASE 5,715 8,216 7,394
DEFERRED INCOME TAXES 8,006 8,006 10,293
DEFERRED LIABILITIES 1,179 586 558
TOTAL LIABILITIES 315,961 366,917 431,625
SHAREHOLDERS' EQUITY:      
Common stock, no par value; 25,000,000 shares authorized; issued and outstanding September 30, 2023 - 7,366,201; December 31, 2022 - 7,339,011; September 30, 2022 - 7,322,232 70,757 69,752 68,986
Retained earnings 146,013 145,721 140,342
Total shareholders' equity 216,770 215,473 209,328
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 532,731 $ 582,390 $ 640,953

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