Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Jun. 30, 2016
Current assets    
Cash and cash equivalents $ 3,612 $ 3,942
Accounts receivable, net of allowance for doubtful accounts of $195 and $160, respectively 10,672 1,833
Inventories, net 6,465 2,627
Vendor deposits 1,265 803
Other current assets 561 673
Total current assets 22,575 9,878
Equipment and improvements, net 979 135
Intangible assets, net 6,240 27
Goodwill 22,139
Other assets 330 121
Total assets 52,263 10,161
Current liabilities    
Accounts payable and accrued expenses 8,649 2,898
Accrued employee expenses 900 961
Customer deposits 3,863 1,213
Billings in excess of costs on uncompleted contracts 5,055
Current portion of long-term debt 714
Total current liabilities 19,181 5,072
Deferred income taxes 298
Long-term debt, net 3,906
Total liabilities 23,385 5,072
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 March 31, 2017 and 15,000,000 shares authorized at June 30, 2016; 10,850,787 shares issued at March 31, 2017 and 7,065,500 shares issued at June 30, 2016, including shares held in treasury 260 177
Additional paid-in capital 24,271 2,095
Retained earnings 4,351 2,821
Treasury stock, 31,768 shares, at cost (4) (4)
Total shareholders' equity 28,878 5,089
Total liabilities and shareholders' equity $ 52,263 $ 10,161