Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Mar. 31, 2017
Current assets:    
Cash and cash equivalents $ 40,456 $ 39,474
Investments 36,023 34,000
Trade accounts receivable, net of allowances ($339 and $168 at March 31, 2018 and 2017, respectively) 17,026 11,483
Unbilled revenue 8,079 15,842
Inventories 11,566 9,246
Prepaid expenses and other current assets 772 681
Income taxes receivable 1,478  
Total current assets 115,400 110,726
Property, plant and equipment, net 17,052 17,021
Prepaid pension asset 4,369 2,340
Goodwill 1,222 6,938
Permits 1,700 10,300
Other intangible assets, net 3,388 4,068
Other assets 202 177
Total assets 143,333 151,570
Current liabilities:    
Current portion of capital lease obligations 88 107
Accounts payable 16,151 10,295
Accrued compensation 4,958 5,189
Accrued expenses and other current liabilities 2,885 3,723
Customer deposits 13,213 12,407
Income taxes payable   317
Total current liabilities 37,295 32,038
Capital lease obligations 55 143
Deferred income tax liability 1,427 4,051
Accrued pension liability 565 467
Accrued postretirement benefits 642 761
Total liabilities 39,984 37,460
Commitments and contingencies (Notes 6 and 17)
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 9,772 and 9,740 shares outstanding at March 31, 2018 and 2017, respectively 1,058 1,055
Capital in excess of par value 23,826 23,176
Retained earnings 99,011 110,544
Accumulated other comprehensive loss (8,250) (8,434)
Treasury stock (807 and 808 shares at March 31, 2018 and 2017, respectively) (12,296) (12,231)
Total stockholders’ equity 103,349 114,110
Total liabilities and stockholders’ equity $ 143,333 $ 151,570