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, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 77,773 $ 82,373
Accounts receivable, net of allowance for doubtful accounts of $138 and $142, respectively 9,694 8,827
Inventories 62,653 66,895
Prepaid expenses and other 10,036 7,722
Total current assets 160,156 165,817
Property, plant and equipment, net 45,271 45,000
Operating lease right-of-use assets 15,966 13,361
Investment securities - trading 802 747
Deferred income tax assets 15,278 15,064
Other assets 9,794 9,784
Total assets 247,267 249,773
Current liabilities:    
Accounts payable 9,029 7,910
Accrued volume incentives and service fees 22,446 22,922
Accrued liabilities 23,257 33,162
Deferred revenue 1,877 1,794
Income taxes payable 7,208 6,418
Current portion of operating lease liabilities 5,064 4,547
Total current liabilities 68,881 76,753
Liability related to unrecognized tax benefits 624 312
Long-term portion of operating lease liabilities 12,648 10,376
Long-term note payable and revolving credit facility 2,107 0
Deferred compensation payable 802 747
Deferred income tax liabilities 1,515 1,401
Other liabilities 983 644
Total liabilities 87,560 90,233
Shareholders’ equity:    
Common stock, no par value, $50,000 shares authorized, $18,786 and $18,875 shares issued and outstanding, respectively 119,063 119,694
Retained earnings 52,032 49,711
Noncontrolling interest 5,651 5,482
Accumulated other comprehensive loss (17,039) (15,347)
Total shareholders’ equity 159,707 159,540
Total liabilities and shareholders’ equity $ 247,267 $ 249,773