v3.23.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
CURRENT ASSETS:      
Cash and cash equivalents $ 4,946 $ 5,719 $ 14,950
Trade receivables – net 73,650 94,953 123,387
Contract receivables 0 0 268
Other receivables 2,235 908 260
Inventories – net 224,124 235,400 289,230
Income tax receivable 0 0 2,338
Prepaid expenses 5,619 4,067 5,875
Total current assets 310,574 341,047 436,308
LEASED ASSETS 10,153 11,014 10,696
PROPERTY, PLANT & EQUIPMENT – net 54,666 57,359 60,958
GOODWILL 47,844 50,246 50,246
IDENTIFIED INTANGIBLES – net 114,716 121,782 125,528
OTHER ASSETS 1,028 942 938
TOTAL ASSETS 538,981 582,390 684,674
CURRENT LIABILITIES:      
Accounts payable 66,783 69,686 156,890
Contract liabilities 0 0 268
Current Portion of Long-Term Debt 2,823 3,250 3,250
Accrued expenses:      
Salaries and wages 1,816 1,253 3,715
Taxes – other 857 1,325 2,054
Accrued freight 2,098 2,413 1,735
Commissions 706 1,934 1,689
Accrued duty 6,642 6,764 18,873
Accrued interest 2,311 2,822 0
Income tax payable 1,052 1,172 0
Other 5,902 5,675 8,014
Total current liabilities 90,990 96,294 196,488
Long-term debt 216,973 253,646 264,486
LONG-TERM TAXES PAYABLE 169 169 169
LONG-TERM LEASE 7,501 8,216 8,200
DEFERRED INCOME TAXES 8,006 8,006 10,293
DEFERRED LIABILITIES 1,053 586 584
TOTAL LIABILITIES 324,692 366,917 480,220
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 70,107 69,752 68,454
Retained earnings 144,182 145,721 136,000
Total shareholders' equity 214,289 215,473 204,454
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 538,981 $ 582,390 $ 684,674

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