Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Jun. 30, 2018
Current assets    
Cash and cash equivalents $ 5,038 $ 1,330
Accounts receivable, net of allowance for doubtful accounts of $323 and $233, respectively 30,557 16,026
Inventories, net 26,445 15,350
Vendor deposits 403 606
Contract assets 2,487 1,012
Other current assets 2,938 2,050
Total current assets 67,868 36,374
Equipment and improvements, net 5,865 2,983
Intangible assets, net 22,351 15,775
Goodwill 54,501 37,061
Other assets 3,900 3,281
Total assets 154,485 95,474
Current liabilities    
Accounts payable and accrued expenses 17,508 11,742
Accrued employee expenses 5,187 4,248
Customer deposits 7,163 11,624
Contract liabilities 854 259
Current portion of long-term debt 1,195
Total current liabilities 30,712 29,068
Deferred income taxes, net 1,708 558
Long-term debt, net 40,563 8,817
Total liabilities 72,983 38,443
Commitments and contingencies (Note 16)
Common stock related to acquiree's Employee Stock Ownership Plan ("ESOP") 4,240
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; 11,825,615 shares issued at June 30, 2019 and 11,239,656 shares issued at June 30, 2018, including shares held in treasury 296 281
Additional paid-in capital 73,010 49,950
Retained earnings 9,635 7,511
Treasury stock, 72,934 shares, at cost, at June 30, 2019 and 52,686 shares, at cost, at June 30, 2018 (1,439) (711)
Common stock related to acquiree's ESOP (4,240)
Total shareholders' equity 77,262 57,031
Total liabilities and shareholders' equity $ 154,485 $ 95,474