Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 86,486 $ 84,700
Accounts receivable, net of allowance for doubtful accounts of $91 and $97, respectively 11,413 9,477
Inventories 64,928 59,443
Prepaid expenses and other 7,955 6,959
Total current assets 170,782 160,579
Property, plant and equipment, net 37,701 39,585
Operating lease right-of-use assets 13,461 12,799
Restricted investment securities - trading 937 915
Deferred income tax assets 20,019 17,644
Other assets 9,802 9,333
Total assets 252,702 240,855
Current liabilities:    
Accounts payable 9,865 8,912
Accrued volume incentives and service fees 22,697 20,563
Accrued liabilities 24,859 25,399
Deferred revenue 2,487 2,774
Income taxes payable 6,542 4,117
Current portion of operating lease liabilities 4,291 3,927
Total current liabilities 70,741 65,692
Liability related to unrecognized tax benefits 627 628
Long-term portion of operating lease liabilities 10,557 10,277
Deferred compensation payable 937 915
Deferred income tax liabilities 1,160 1,007
Other liabilities 1,580 1,345
Total liabilities 85,602 79,864
Shareholders’ equity:    
Common stock, no par value, 50,000 shares authorized, 18,474 and 18,483 shares issued and outstanding, respectively 115,146 114,577
Retained earnings 62,154 57,407
Noncontrolling interest 5,815 5,678
Accumulated other comprehensive loss (16,015) (16,671)
Total shareholders’ equity 167,100 160,991
Total liabilities and shareholders’ equity $ 252,702 $ 240,855