Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Mar. 31, 2013
Current assets:    
Cash and cash equivalents $ 32,146 $ 24,194
Investments 29,000 27,498
Trade accounts receivable, net of allowances ($46 and $33 at March 31, 2014 and 2013, respectively) 10,339 9,440
Unbilled revenue 7,830 13,113
Inventories 16,518 11,171
Prepaid expenses and other current assets 457 783
Income taxes receivable 498 2,635
Deferred income tax asset 668 69
Total current assets 97,456 88,903
Property, plant and equipment, net 16,449 13,288
Prepaid pension asset 5,759 2,349
Goodwill 6,938 6,938
Permits 10,300 10,300
Other intangible assets, net 4,608 4,788
Other assets 124 167
Total assets 141,634 126,733
Current liabilities:    
Current portion of capital lease obligations 80 87
Accounts payable 10,084 9,429
Accrued compensation 5,701 5,018
Accrued expenses and other current liabilities 2,233 3,051
Customer deposits 8,012 6,919
Deferred income tax liability   373
Total current liabilities 26,110 24,877
Capital lease obligations 136 127
Accrued compensation 158 308
Deferred income tax liability 8,197 7,131
Accrued pension liability 272 227
Accrued postretirement benefits 853 923
Other long-term liabilities   145
Total liabilities 35,726 33,738
Commitments and contingencies (Notes 7 and 15)      
Stockholders' equity:    
Preferred stock, $1.00 par value - Authorized, 500 shares      
Common stock, $.10 par value - Authorized, 25,500 shares Issued, 10,409 and 10,331 shares at March 31, 2014 and 2013, respectively 1,041 1,033
Capital in excess of par value 20,274 18,596
Retained earnings 93,469 84,632
Accumulated other comprehensive loss (5,765) (8,033)
Treasury stock (311 and 327 shares at March 31, 2014 and 2013, respectively) (3,111) (3,233)
Total stockholders' equity 105,908 92,995
Total liabilities and stockholders' equity $ 141,634 $ 126,733