The following tables summarize the impact of adopting ASC 606 on our consolidated financial statements for the year ended December 31, 2018 (in thousands, except per share data):



	December 31, 2018
Consolidated Balance Sheets	As Reported			Effect of Adoption			Balances Without Adoption of ASC 606
Assets
Current Assets
Cash and cash equivalents	$	10,263		$	—		$	10,263
Accounts receivable, net of allowance for doubtful accounts of $1,135 at December 31, 2018	67,819			—			67,819
Contract assets	86,665			(86,665		)	—
Inventories	101,125			57,527			158,652
Production cost of contracts	11,679			—			11,679
Other current assets	9,839			1,085			10,924
Total Current Assets	287,390			(28,053		)	259,337
Property and equipment, net	107,045			—			107,045
Goodwill	136,057			—			136,057
Intangibles, net	112,092			—			112,092
Non-current deferred income taxes	308			8			316
Other assets	5,251			—			5,251
Total Assets	$	648,143		$	(28,045	)	$	620,098
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	69,274		$	—		$	69,274
Contract liabilities	17,145			(17,145		)	—
Accrued liabilities	37,786			4,994			42,780
Current portion of long-term debt	2,330			—			2,330
Total Current Liabilities	126,535			(12,151		)	114,384
Long-term debt, less current portion	226,961			—			226,961
Non-current deferred income taxes	18,070			(2,570		)	15,500
Other long-term liabilities	19,752			—			19,752
Total Liabilities	391,318			(14,721		)	376,597
Commitments and contingencies (Notes 13, 16)
Shareholders’ Equity
Common stock - $0.01 par value; 35,000,000 shares authorized; 11,417,863 shares issued and outstanding at December 31, 2018	114			—			114
Additional paid-in capital	83,712			—			83,712
Retained earnings	180,356			(13,324		)	167,032
Accumulated other comprehensive loss	(7,357		)	—			(7,357		)
Total Shareholders’ Equity	256,825			(13,324		)	243,501
Total Liabilities and Shareholders’ Equity	$	648,143		$	(28,045	)	$	620,098



	Year Ended December 31, 2018
Consolidated Statements of Income	As Reported			Effect of Adoption			Balances Without Adoption of ASC 606
Net Revenues	$	629,307		$	(15,712	)	$	613,595
Cost of Sales	506,711			(11,458		)	495,253
Gross Profit	122,596			(4,254		)	118,342
Selling, General and Administrative Expenses	84,007			—			84,007
Restructuring Charges	14,671			—			14,671
Operating Income	23,918			(4,254		)	19,664
Interest Expense	(13,024		)	(1,526		)	(14,550		)
Loss on Extinguishment of Debt	(926		)	—			(926		)
Other Income	303			—			303
Income Before Taxes	10,271			(5,780		)	4,491
Income Tax Expense	1,236			(1,120		)	116
Net Income	$	9,035		$	(4,660	)	$	4,375
Earnings Per Share
Basic earnings per share	$	0.79					$	0.38
Diluted earnings per share	$	0.77					$	0.38
Weighted-Average Number of Common Shares Outstanding
Basic	11,390						11,390
Diluted	11,659						11,659



	Year Ended December 31, 2018
Consolidated Statements of Comprehensive Income	As Reported			Effect of Adoption			Balances Without Adoption of ASC 606
Net Income	$	9,035		$	(4,660	)	$	4,375
Other Comprehensive Income (Loss), Net of Tax:
Amortization of actuarial losses included in net income, net of tax benefit of $173, for the year ended December 31, 2018	570			—			570
Actuarial loss arising during the period, net of tax benefit of $302, for the year ended December 31, 2018	(899		)	—			(899		)
Change in unrealized gains on cash flow hedges, net of tax of $121 for the year ended December 31, 2018	407			—			407
Other Comprehensive Income (Loss), Net of Tax	78			—			78
Comprehensive Income	$	9,113		$	(4,660	)	$	4,453



	Year Ended December 31, 2018
Consolidated Statements of Cash Flows	As Reported			Effect of Adoption			Balances Without Adoption of ASC 606
Cash Flows from Operating Activities
Net Income	$	9,035		$	(4,660	)	$	4,375
Adjustments to Reconcile Net Income to
Net Cash Provided by Operating Activities:
Depreciation and amortization	25,296			—			25,296
Property and equipment impairment due to restructuring	6,207			—			6,207
Stock-based compensation expense	5,040			—			5,040
Deferred income taxes	2,042			(2,578		)	(536		)
Provision for doubtful accounts	267			—			267
Noncash loss on extinguishment of debt	926			—			926
Other	11,659			(8,364		)	3,295
Changes in Assets and Liabilities:
Accounts receivable	7,495			—			7,495
Contract assets	(86,665		)	86,665			—
Inventories	23,243			(57,527		)	(34,284		)
Production cost of contracts	(1,569		)	—			(1,569		)
Other assets	1,881			(1,084		)	797
Accounts payable	18,496			—			18,496
Contract liabilities	17,145			(17,145		)	—
Accrued and other liabilities	5,739			4,693			10,432
Net Cash Provided by Operating Activities	46,237			—			46,237
Cash Flows from Investing Activities
Purchases of property and equipment	(17,617		)	—			(17,617		)
Proceeds from sale of assets	396			—			396
Payments for purchase of Certified Thermoplastics Co., LLC, net of cash acquired	(30,712		)	—			(30,712		)
Net Cash Used in Investing Activities	(47,933		)	—			(47,933		)
Cash Flows from Financing Activities
Borrowings from senior secured revolving credit facility	296,400			—			296,400
Repayments of senior secured revolving credit facility	(354,500		)	—			(354,500		)
Borrowings from term loan	240,000			—			240,000
Repayments of term loan	(167,000		)	—			(167,000		)
Debt issuance costs	(3,541		)	—			(3,541		)
Net cash paid upon issuance of common stock under stock plans	(1,550		)	—			(1,550		)
Net Cash Provided by Financing Activities	9,809			—			9,809
Net Increase in Cash and Cash Equivalents	8,113			—			8,113
Cash and Cash Equivalents at Beginning of Period	2,150			—			2,150
Cash and Cash Equivalents at End of Period	$	10,263		$	—		$	10,263



	Year Ended December 31, 2018
Consolidated Statements of Changes in Shareholders’ Equity	As Reported			Effect of Adoption			Balances Without Adoption of ASC 606
Net Income	$	9,035		$	(4,660	)	$	4,375
Other Comprehensive Loss, Net of Tax	$	78		$	—		$	78
Adoption of ASC 606 Adjustment	$	8,665		$	(8,665	)	$	—
Adoption of ASU 2018-02 adjustment	$	(26	)	$	—		$	(26	)
Stock Options Exercised	$	1,822		$	—		$	1,822
Stock Repurchased Related to the Exercise of Stock Options	$	(6,345	)	$	—		$	(6,345	)
Stock Awards Vested	$	2,973		$	—		$	2,973
Stock-Based Compensation	$	5,040		$	—		$	5,040