Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Jun. 30, 2018
Current assets    
Cash and cash equivalents $ 1,877 $ 1,330
Accounts receivable, net of allowance for doubtful accounts of $265 and $233, respectively 24,467 16,026
Inventories, net 20,537 15,350
Vendor deposits 738 606
Contract assets 643 1,012
Other current assets 2,767 2,050
Total current assets 51,029 36,374
Equipment and improvements, net 3,846 2,983
Intangible assets, net 19,106 15,775
Goodwill 43,993 37,061
Other assets 3,126 3,281
Total assets 121,100 95,474
Current liabilities    
Accounts payable and accrued expenses 14,852 11,742
Accrued employee expenses 2,428 4,248
Customer deposits 12,344 11,624
Contract liabilities 913 259
Current portion of long-term debt 1,195 1,195
Total current liabilities 31,732 29,068
Deferred tax liabilities, net 573 558
Long-term debt, net 20,172 8,817
Total liabilities 52,477 38,443
Commitments and contingencies (Note 10)
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; 11,417,347 shares issued at September 30, 2018 and 11,239,656 shares issued at June 30, 2018, including shares held in treasury 287 281
Additional paid-in capital 60,740 49,950
Retained earnings 8,307 7,511
Treasury stock, 52,686 shares at September 30, 2018 and June 30, 2018, at cost (711) (711)
Total shareholders' equity 68,623 57,031
Total liabilities and shareholders' equity $ 121,100 $ 95,474