Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Mar. 31, 2020
Current assets:    
Cash and cash equivalents $ 59,532 $ 32,955
Investments 5,500 40,048
Trade accounts receivable, net of allowances ($29 and $33 at March 31, 2021 and 2020, respectively) 17,378 15,400
Unbilled revenue 19,994 14,592
Inventories 17,332 22,291
Prepaid expenses and other current assets 512 906
Income taxes receivable   485
Total current assets 120,248 126,677
Property, plant and equipment, net 17,618 17,587
Prepaid pension asset 6,216 3,460
Operating lease assets 95 243
Other assets 103 153
Total assets 144,280 148,120
Current liabilities:    
Current portion of finance lease obligations 21 40
Accounts payable 17,972 14,253
Accrued compensation 6,106 4,453
Accrued expenses and other current liabilities 4,628 3,352
Customer deposits 14,059 26,983
Operating lease liabilities 46 153
Income taxes payable 741  
Total current liabilities 43,573 49,234
Finance lease obligations 34 55
Operating lease liabilities 37 82
Deferred income tax liability 635 721
Accrued pension liability 1,557 747
Accrued postretirement benefits 515 557
Total liabilities 46,351 51,396
Commitments and contingencies (Notes 8 and 17)
Stockholders’ equity:    
Preferred stock, $1.00 par value, 500 shares authorized
Common stock, $.10 par value, 25,500 shares authorized; 10,748 and 10,689 shares issued and 9,959 and 9,881 shares outstanding at March 31, 2021 and 2020, respectively 1,075 1,069
Capital in excess of par value 27,272 26,361
Retained earnings 89,372 91,389
Accumulated other comprehensive loss (7,397) (9,556)
Treasury stock (790 and 808 shares at March 31, 2021 and 2020, respectively) (12,393) (12,539)
Total stockholders’ equity 97,929 96,724
Total liabilities and stockholders’ equity $ 144,280 $ 148,120