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
Dec. 31, 2017
Mar. 31, 2017
Current assets:    
Cash and cash equivalents $ 36,159 $ 39,474
Investments 38,023 34,000
Trade accounts receivable, net of allowances ($336 and $168 at December 31 and March 31, 2017, respectively) 16,555 11,483
Unbilled revenue 10,709 15,842
Inventories 8,899 9,246
Prepaid expenses and other current assets 1,181 681
Income taxes receivable 1,288  
Total current assets 112,814 110,726
Property, plant and equipment, net 16,098 17,021
Prepaid pension asset 3,110 2,340
Goodwill 1,222 6,938
Permits 1,700 10,300
Other intangible assets, net 3,433 4,068
Other assets 246 177
Total assets 138,623 151,570
Current liabilities:    
Current portion of capital lease obligations 105 107
Accounts payable 9,386 10,295
Accrued compensation 4,418 5,189
Accrued expenses and other current liabilities 2,722 3,723
Customer deposits 17,814 12,407
Income taxes payable   317
Total current liabilities 34,445 32,038
Capital lease obligations 67 143
Deferred income tax liability 736 4,051
Accrued pension liability 534 467
Accrued postretirement benefits 780 761
Other long-term liabilities 126  
Total liabilities 36,688 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 10,579 and 10,548 shares issued and 9,768 and 9,740 shares outstanding at December 31 and March 31, 2017, respectively 1,058 1,055
Capital in excess of par value 23,573 23,176
Retained earnings 97,229 110,544
Accumulated other comprehensive loss (7,599) (8,434)
Treasury stock (811 and 808 shares at December 31 and March 31, 2017, respectively) (12,326) (12,231)
Total stockholders’ equity 101,935 114,110
Total liabilities and stockholders’ equity $ 138,623 $ 151,570