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
Jun. 30, 2019
Mar. 31, 2019
Current assets:    
Cash and cash equivalents $ 13,768 $ 15,021
Investments 58,789 62,732
Trade accounts receivable, net of allowances ($41 and $33 at June 30 and March 31, 2019, respectively) 14,417 17,582
Unbilled revenue 9,845 7,522
Inventories 24,092 24,670
Prepaid expenses and other current assets 1,456 1,333
Income taxes receivable 1,260 1,073
Assets held for sale   4,850
Total current assets 123,627 134,783
Property, plant and equipment, net 16,836 17,071
Prepaid pension asset 4,485 4,267
Operating lease assets 271  
Other assets 112 149
Total assets 145,331 156,270
Current liabilities:    
Current portion of capital lease obligations 51 51
Accounts payable 6,797 12,405
Accrued compensation 4,660 5,126
Accrued expenses and other current liabilities 2,382 2,933
Customer deposits 30,556 30,847
Operating lease liabilities 99  
Liabilities held for sale   3,525
Total current liabilities 44,545 54,887
Capital lease obligations 85 95
Operating lease liabilities 167  
Deferred income tax liability 1,297 1,056
Accrued pension liability 684 662
Accrued postretirement benefits 608 604
Total liabilities 47,386 57,304
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $1.00 par value, 500 shares authorized
Common stock, $.10 par value, 25,500 shares authorized, 10,699 and 10,650 shares issued and 9,881 and 9,843 shares outstanding at June 30 and March 31, 2019, respectively 1,070 1,065
Capital in excess of par value 25,360 25,277
Retained earnings 92,861 93,847
Accumulated other comprehensive loss (8,726) (8,833)
Treasury stock (818 and 807 shares at June 30 and March 31, 2019, respectively) (12,620) (12,390)
Total stockholders’ equity 97,945 98,966
Total liabilities and stockholders’ equity $ 145,331 $ 156,270