Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Jun. 30, 2021
Current assets    
Cash $ 2,773 $ 6,057
Accounts receivable, net of allowance for doubtful accounts of $1.1 million and $1.0 million, respectively 33,685 28,904
Inventories, net 29,055 25,129
Vendor deposits 410 367
Contract assets 125 347
Other current assets 5,595 4,419
Total current assets 71,643 65,223
Equipment and improvements, net 10,693 10,594
Operating lease assets 7,153 7,060
Intangible assets, net 23,190 23,677
Goodwill 63,895 63,881
Other assets 6,998 7,415
Total assets 183,572 177,850
Current liabilities    
Accounts payable and accrued expenses 23,774 26,227
Accrued employee expenses 7,210 7,528
Customer deposits 11,327 10,344
Contract liabilities 200 3,232
Current portion of operating lease liabilities 2,293 2,131
Total current liabilities 44,804 49,462
Deferred tax liabilities, net 4,046 4,208
Long-term operating lease liabilities 5,598 5,567
Long-term debt, net 19,886 11,873
Total liabilities 74,334 71,110
Commitments and contingencies (Note 10)
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 September 30, 2021 and June 30, 2021, including shares held in treasury 310 310
Additional paid-in capital 90,980 90,501
Treasury stock, 120,706 shares at September 30, 2021 and June 30, 2021, at cost (2,865) (2,865)
Retained earnings 20,813 18,794
Total shareholders' equity 109,238 106,740
Total liabilities and shareholders' equity $ 183,572 $ 177,850