Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Jun. 30, 2020
Current assets    
Cash $ 6,057 $ 9,789
Accounts receivable, net of allowance for doubtful accounts 28,904 23,042
Inventories, net 25,129 24,063
Vendor deposits 367 1,276
Contract assets 347 3,443
Other current assets 4,419 3,041
Total current assets 65,223 64,654
Equipment and improvements, net 10,594 7,992
Operating lease assets 7,060 5,311
Intangible assets, net 23,677 21,754
Goodwill 63,881 56,678
Other assets 7,415 4,329
Total assets 177,850 160,718
Current liabilities    
Accounts payable and accrued expenses 26,227 24,292
Accrued employee expenses 7,528 4,764
Customer deposits 10,344 8,511
Contract liabilities 3,232 558
Current portion of long-term debt 2,680
Current portion of operating lease liabilities 2,131 1,672
Total current liabilities 49,462 42,477
Deferred income taxes, net 4,208 1,728
Long-term operating lease liabilities 5,567 3,657
Long-term debt, net 11,873 25,030
Total liabilities 71,110 72,892
Commitments and contingencies (Note 17)
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding
Common stock, $.025 par value; authorized shares - 20,000,000; 12,399,137 shares issued at June 30, 2021 and 12,029,910 shares issued at June 30, 2020, including shares held in treasury 310 301
Additional paid-in capital 90,501 79,127
Retained earnings 18,794 10,410
Treasury stock, 120,706 shares, at cost, at June 30, 2021 and 95,396 shares, at cost, at June 30, 2020 (2,865) (2,012)
Total shareholders' equity 106,740 87,826
Total liabilities and shareholders' equity $ 177,850 $ 160,718