Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.6.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Jun. 30, 2016
Current assets    
Cash and cash equivalents $ 2,842 $ 3,942
Accounts receivable, net of allowance for doubtful accounts of $194 and $160, respectively 16,686 1,833
Inventories, net 5,830 2,627
Vendor deposits 1,214 803
Other current assets 1,641 673
Total current assets 28,213 9,878
Equipment and improvements, net 942 135
Intangible assets, net 6,412 27
Goodwill 22,069
Other assets 306 121
Total assets 57,942 10,161
Current liabilities    
Accounts payable and accrued expenses 13,434 2,898
Accrued employee expenses 2,410 961
Customer deposits 3,533 1,213
Billings in excess of costs on uncompleted contracts 5,778
Current portion of long-term debt 714
Total current liabilities 25,869 5,072
Deferred income taxes 140
Long-term debt 4,104
Total liabilities 30,113 5,072
Commitments and contingencies
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding
Common stock, $.025 par value; 20,000,000 shares authorized at December 31, 2016 and 15,000,000 shares authorized at June 30, 2016; 10,815,575 shares issued at December 31, 2016 and 7,065,500 shares issued at June 260 177
Additional paid-in capital 24,111 2,095
Retained earnings 3,462 2,821
Treasury stock, 31,768 shares, at cost (4) (4)
Total shareholders' equity 27,829 5,089
Total liabilities and shareholders' equity $ 57,942 $ 10,161