Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2017
Mar. 31, 2017
Current assets:    
Cash and cash equivalents $ 31,102 $ 39,474
Investments 41,000 34,000
Trade accounts receivable, net of allowances ($101 and $168 at September 30 and March 31, 2017, respectively) 11,347 11,483
Unbilled revenue 12,688 15,842
Inventories 8,403 9,246
Prepaid expenses and other current assets 1,361 681
Income taxes receivable 1,190  
Total current assets 107,091 110,726
Property, plant and equipment, net 16,453 17,021
Prepaid pension asset 2,818 2,340
Goodwill 6,938 6,938
Permits 10,300 10,300
Other intangible assets, net 3,978 4,068
Other assets 275 177
Total assets 147,853 151,570
Current liabilities:    
Current portion of capital lease obligations 108 107
Accounts payable 7,162 10,295
Accrued compensation 4,761 5,189
Accrued expenses and other current liabilities 3,234 3,723
Customer deposits 12,978 12,407
Income taxes payable   317
Total current liabilities 28,243 32,038
Capital lease obligations 91 143
Deferred income tax liability 4,366 4,051
Accrued pension liability 512 467
Accrued postretirement benefits 773 761
Total liabilities 33,985 37,460
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $1.00 par value, 500 shares authorized
Common stock, $.10 par value, 25,500 shares authorized 10,580 and 10,548 shares issued and 9,769 and 9,740 shares outstanding at September 30 and March 31, 2017, respectively 1,058 1,055
Capital in excess of par value 23,359 23,176
Retained earnings 109,731 110,544
Accumulated other comprehensive loss (7,954) (8,434)
Treasury stock (811 and 808 shares at September 30 and March 31, 2017, respectively) (12,326) (12,231)
Total stockholders’ equity 113,868 114,110
Total liabilities and stockholders’ equity $ 147,853 $ 151,570