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, 2019
Mar. 31, 2019
Current assets:    
Cash and cash equivalents $ 10,851 $ 15,021
Investments 59,000 62,732
Trade accounts receivable, net of allowances ($35 and $33 at December 31 and March 31, 2019, respectively) 17,901 17,582
Unbilled revenue 14,321 7,522
Inventories 20,408 24,670
Prepaid expenses and other current assets 1,289 1,333
Income taxes receivable 772 1,073
Assets held for sale   4,850
Total current assets 124,542 134,783
Property, plant and equipment, net 16,906 17,071
Prepaid pension asset 4,920 4,267
Operating lease assets 283  
Other assets 150 149
Total assets 146,801 156,270
Current liabilities:    
Current portion of finance lease obligations 47 51
Accounts payable 9,253 12,405
Accrued compensation 4,855 5,126
Accrued expenses and other current liabilities 2,835 2,933
Customer deposits 28,816 30,847
Operating lease liabilities 153  
Liabilities held for sale   3,525
Total current liabilities 45,959 54,887
Finance lease obligations 61 95
Operating lease liabilities 122  
Deferred income tax liability 1,273 1,056
Accrued pension liability 726 662
Accrued postretirement benefits 619 604
Total liabilities 48,760 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, 10,700 and 10,650 shares issued and 9,884 and 9,843 shares outstanding at December 31 and March 31, 2019, respectively 1,070 1,065
Capital in excess of par value 26,057 25,277
Retained earnings 91,900 93,847
Accumulated other comprehensive loss (8,385) (8,833)
Treasury stock (816 and 807 shares at December 31 and March 31, 2019, respectively) (12,601) (12,390)
Total stockholders’ equity 98,041 98,966
Total liabilities and stockholders’ equity $ 146,801 $ 156,270