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, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 68,695 $ 82,373
Accounts receivable, net of allowance for doubtful accounts of $138 and $142, respectively 11,290 8,827
Inventories 62,304 66,895
Prepaid expenses and other 9,747 7,722
Total current assets 152,036 165,817
Property, plant and equipment, net 44,832 45,000
Operating lease right-of-use assets 13,722 13,361
Investment securities - trading 890 747
Deferred income tax assets 14,704 15,064
Other assets 9,647 9,784
Total assets 235,831 249,773
Current liabilities:    
Accounts payable 8,422 7,910
Accrued volume incentives and service fees 22,144 22,922
Accrued liabilities 22,994 33,162
Deferred revenue 2,217 1,794
Income taxes payable 3,911 6,418
Current portion of operating lease liabilities 3,961 4,547
Total current liabilities 63,649 76,753
Liability related to unrecognized tax benefits 935 312
Long-term portion of operating lease liabilities 11,390 10,376
Deferred compensation payable 890 747
Deferred income tax liabilities 1,164 1,401
Other liabilities 1,403 644
Total liabilities 79,431 90,233
Commitments and contingencies
Shareholders’ equity:    
Common stock, no par value, 50,000 shares authorized, 18,508 and 18,875 shares issued and outstanding, respectively 114,014 119,694
Retained earnings 53,381 49,711
Noncontrolling interest 5,790 5,482
Accumulated other comprehensive loss (16,785) (15,347)
Total shareholders’ equity 156,400 159,540
Total liabilities and shareholders’ equity $ 235,831 $ 249,773