Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Mar. 31, 2015
Current assets:    
Cash and cash equivalents $ 79,101 $ 93,774
Accounts receivable, net of allowance for doubtful accounts of $748 and $785 as of December 31, 2015 and March 31, 2015, respectively 52,958 60,441
Inventories, net 44,098 41,008
Costs and estimated earnings in excess of billings on uncompleted contracts 7,934 6,804
Prepaid expenses and other current assets 8,344 5,128
Deferred income taxes 3,290 3,549
Total current assets 195,725 210,704
Property, plant and equipment, net 39,963 34,824
Goodwill 120,460 105,232
Intangible assets, net 105,043 100,813
Debt issuance costs, net 1,074 1,358
Other long term assets 349 378
Total assets 462,614 453,309
Current liabilities:    
Accounts payable 19,169 17,145
Accrued liabilities 13,107 17,417
Current portion of long term debt 13,500 13,500
Outstanding borrowings 5,000 0
Billings in excess of costs and estimated earnings on uncompleted contracts 3,223 2,366
Income taxes payable 2,816 2,710
Total current liabilities 56,815 53,138
Long-term debt, net of current maturities 84,375 94,500
Deferred income taxes 34,061 30,835
Other noncurrent liabilities 3,046 3,070
Total liabilities 178,297 181,543
Equity    
Common stock: $.001 par value; 150,000,000 authorized; 32,210,938 and 32,082,393 shares issued and outstanding at December 31, 2015 and March 31, 2015, respectively 32 32
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding 0 0
Additional paid in capital 215,726 213,885
Accumulated other comprehensive income (54,501) (41,400)
Retained earnings (accumulated deficit) 119,054 99,249
Shareholders’ equity 280,311 271,766
Non-controlling interests 4,006 0
Total equity 284,317 271,766
Total liabilities and equity $ 462,614 $ 453,309