Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.4
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Jun. 30, 2022
Current assets    
Cash $ 4,383 $ 3,974
Accounts receivable, net of allowance for doubtful accounts of $1.8 million and $1.6 million, respectively 38,577 43,014
Inventories, net 60,088 49,359
Vendor deposits 2,208 1,728
Contract assets 8,780 1,519
Other current assets 6,820 6,018
Total current assets 120,856 105,612
Equipment and improvements, net 13,123 13,033
Operating lease assets 6,753 7,480
Intangible assets, net 25,181 26,234
Goodwill 72,895 71,039
Other assets 7,925 7,370
Total assets 246,733 230,768
Current liabilities    
Accounts payable and accrued expenses 42,175 42,026
Accrued employee expenses 8,320 8,508
Customer deposits 22,317 21,288
Contract liabilities 507
Current portion of operating lease liabilities 2,446 2,518
Total current liabilities 75,258 74,847
Deferred tax liabilities, net 4,844 4,666
Long-term operating lease liabilities 5,051 5,736
Long-term debt, net 36,852 27,840
Total liabilities 122,005 113,089
Commitments and contingencies (Note 11)
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; 12,697,444 shares issued at December 31, 2022 and 12,650,126 shares issued at June 30, 2022, including shares held in treasury 317 316
Additional paid-in capital 99,587 97,544
Treasury stock, 131,122 shares at December 31, 2022 and 127,801 shares at June 30, 2022, at cost (3,136) (3,070)
Retained earnings 27,960 22,889
Total shareholders’ equity 124,728 117,679
Total liabilities and shareholders’ equity $ 246,733 $ 230,768