Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 68,970 $ 60,032
Accounts receivable, net of allowance for doubtful accounts of $207 and $120, respectively 12,468 14,106
Inventories 65,858 67,949
Prepaid expenses and other 8,609 7,420
Total current assets 155,905 149,507
Property, plant and equipment, net 45,373 46,162
Operating lease right-of-use assets 15,322 16,145
Investment securities - trading 740 702
Deferred income tax assets 8,807 6,859
Other assets 10,005 10,403
Total assets 236,152 229,778
Current liabilities:    
Accounts payable 6,938 6,349
Accrued volume incentives and service fees 24,239 21,830
Accrued liabilities 29,132 25,591
Deferred revenue 1,430 2,255
Income taxes payable 4,061 4,117
Current portion of operating lease liabilities 4,674 4,266
Current portion of note payable 537 1,174
Total current liabilities 71,011 65,582
Liability related to unrecognized tax benefits 215 209
Long-term portion of operating lease liabilities 12,549 13,745
Deferred compensation payable 740 702
Deferred income tax liabilities 1,198 1,439
Other liabilities 1,041 1,054
Total liabilities 86,754 82,731
Shareholders’ equity:    
Common stock, no par value, 50,000 shares authorized, 19,098 and 19,093 shares issued and outstanding, respectively 122,902 121,583
Retained earnings 37,917 34,635
Noncontrolling interest 4,790 4,142
Accumulated other comprehensive loss (16,211) (13,313)
Total shareholders’ equity 149,398 147,047
Total liabilities and shareholders’ equity $ 236,152 $ 229,778