v3.24.1.u1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
CURRENT ASSETS:      
Cash and cash equivalents $ 3,059 $ 4,470 $ 4,946
Trade receivables – net 70,662 77,028 73,650
Contract receivables 0 927 0
Other receivables 1,913 1,933 2,235
Inventories – net 165,129 169,201 224,124
Income tax receivable 538 1,253 0
Prepaid expenses 6,037 3,361 5,619
Total current assets 247,338 258,173 310,574
LEASED ASSETS 7,139 7,809 10,153
PROPERTY, PLANT & EQUIPMENT – net 51,305 51,976 54,666
GOODWILL 47,844 47,844 47,844
IDENTIFIED INTANGIBLES – net 111,919 112,618 114,716
OTHER ASSETS 982 965 1,028
TOTAL ASSETS 466,527 479,385 538,981
CURRENT LIABILITIES:      
Accounts payable 53,479 49,840 66,783
Contract liabilities 0 927 0
Current portion of long-term debt 2,650 2,650 2,823
Accrued expenses:      
Salaries and wages 1,774 1,204 1,816
Taxes – other 523 925 857
Accrued freight 2,193 2,284 2,098
Commissions 657 904 706
Accrued duty 5,867 5,440 6,642
Accrued interest 1,979 2,104 2,311
Income tax payable 0 0 1,052
Other 5,626 5,251 5,902
Total current liabilities 74,748 71,529 90,990
Long-term debt 153,302 170,480 216,973
LONG-TERM TAXES PAYABLE 169 169 169
LONG-TERM LEASE 4,801 5,461 7,501
DEFERRED INCOME TAXES 7,475 7,475 8,006
DEFERRED LIABILITIES 737 716 1,053
TOTAL LIABILITIES 241,232 255,830 324,692
SHAREHOLDERS' EQUITY:      
Common stock, no par value; 25,000,000 shares authorized; issued and outstanding March 31, 2024 - 7,417,546; December 31, 2023 - 7,412,480; March 31, 2023 - 7,346,650 72,312 71,973 70,107
Retained earnings 152,983 151,582 144,182
Total shareholders' equity 225,295 223,555 214,289
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 466,527 $ 479,385 $ 538,981

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