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, 2015
Mar. 31, 2015
Current assets:    
Cash and cash equivalents $ 29,616 $ 27,271
Investments 33,000 33,000
Trade accounts receivable, net of allowances ($21 and $62 at June 30 and March 31, 2015, respectively) 15,547 17,249
Unbilled revenue 18,487 18,665
Inventories 11,710 13,994
Prepaid expenses and other current assets 985 529
Income taxes receivable   339
Deferred income tax asset 534 647
Total current assets 109,879 111,694
Property, plant and equipment, net 19,361 19,812
Prepaid pension asset 1,637 1,332
Goodwill 6,938 6,938
Permits 10,300 10,300
Other intangible assets, net 4,383 4,428
Other assets 144 150
Total assets 152,642 154,654
Current liabilities:    
Current portion of capital lease obligations 57 60
Accounts payable 12,036 13,334
Accrued compensation 6,227 9,343
Accrued expenses and other current liabilities 4,079 3,247
Customer deposits 3,383 4,179
Income taxes payable 21  
Deferred income tax liability 266 164
Total current liabilities 26,069 30,327
Capital lease obligations 86 98
Accrued compensation 10 124
Deferred income tax liability 6,644 6,363
Accrued pension liability 328 315
Accrued postretirement benefits 883 876
Total liabilities $ 34,020 $ 38,103
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 10,469 and 10,433 shares issued and 10,169 and 10,133 shares outstanding $ 1,047 $ 1,043
Capital in excess of par value 21,722 21,398
Retained earnings 107,726 106,178
Accumulated other comprehensive loss (8,861) (9,056)
Treasury stock, (299 shares) (3,012) (3,012)
Total stockholders' equity 118,622 116,551
Total liabilities and stockholders' equity $ 152,642 $ 154,654