Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Jun. 30, 2016
Current assets    
Cash and cash equivalents $ 727 $ 3,942
Accounts receivable, net of allowance for doubtful accounts of $150 and $160, respectively 13,638 1,833
Inventories, net 7,677 2,627
Vendor deposits 1,393 803
Other current assets 365 673
Total current assets 23,800 9,878
Equipment and improvements, net 1,272 135
Intangible assets, net 7,160 27
Goodwill 24,753
Deferred income tax assets, net 124 121
Other assets 26
Total assets 57,135 10,161
Current liabilities    
Accounts payable and accrued expenses 12,317 2,898
Accrued employee expenses 1,546 961
Customer deposits 4,457 1,213
Billings in excess of costs on uncompleted contracts 2,146
Current portion of long-term debt 714
Total current liabilities 21,180 5,072
Long-term debt, net 3,731
Total liabilities 24,911 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 June 30, 2017 and 15,000,000 shares authorized at June 30, 2016; 10,499,481 shares issued at June 30, 2017 and 7,065,500 shares issued at June 30, 2016, including shares held in treasury 262 177
Additional paid-in capital 27,018 2,095
Retained earnings 4,948 2,821
Treasury stock, 31,768 shares, at cost (4) (4)
Total shareholders' equity 32,224 5,089
Total liabilities and shareholders' equity $ 57,135 $ 10,161