Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 65,720 $ 60,032
Accounts receivable, net of allowance for doubtful accounts of $122 and $120, respectively 10,474 14,106
Inventories 67,524 67,949
Prepaid expenses and other 10,702 7,420
Total current assets 154,420 149,507
Property, plant and equipment, net 46,080 46,162
Operating lease right-of-use assets 16,152 16,145
Investment securities - trading 718 702
Deferred income tax assets 6,965 6,859
Other assets 10,249 10,403
Total assets 234,584 229,778
Current liabilities:    
Accounts payable 8,775 6,349
Accrued volume incentives and service fees 22,611 21,830
Accrued liabilities 28,730 25,591
Deferred revenue 1,128 2,255
Income taxes payable 4,654 4,117
Current portion of operating lease liabilities 4,671 4,266
Current portion of note payable and revolving credit facility 1,007 1,174
Total current liabilities 71,576 65,582
Liability related to unrecognized tax benefits 215 209
Long-term portion of operating lease liabilities 13,382 13,745
Deferred compensation payable 718 702
Deferred income tax liabilities 936 1,439
Other liabilities 1,040 1,054
Total liabilities 87,867 82,731
Shareholders’ equity:    
Common stock, no par value, 50,000 shares authorized, 19,045 and 19,093 shares issued and outstanding, respectively 121,653 121,583
Retained earnings 35,495 34,635
Noncontrolling interest 4,535 4,142
Accumulated other comprehensive loss (14,966) (13,313)
Total shareholders’ equity 146,717 147,047
Total liabilities and shareholders’ equity $ 234,584 $ 229,778