XML 18 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash $ 53 $ 66
Accounts receivable, net of allowances of $27 and $183 12,211 10,840
Inventories, net 19,267 15,881
Other current assets 2,164 659
Total current assets 33,695 27,446
OTHER ASSETS:    
Goodwill 8,377 2,556
Intangibles, net 20,877 3,909
Other 3,882 1,839
Total other assets 33,136 8,304
PROPERTY AND EQUIPMENT    
Land and improvements 535 535
Buildings and improvements 6,269 6,175
Machinery and equipment 44,617 52,711
Property and equipment 51,421 59,421
Less - Accumulated depreciation (36,646) (49,263)
Property and equipment 14,775 10,158
Total assets 81,606 45,908
CURRENT LIABILITIES:    
Accounts payable 20,440 7,327
Book overdraft 918 699
Accrued compensation 1,149 1,457
Accrued expenses 7,142 7,093
Payable to related party 0 3,650
Deferred revenue 130 186
Current maturities of long term debt 1,800 0
Revolving credit agreement 23,969 21,967
Total current liabilities 55,548 42,379
DEFERRED REVENUE 0 130
PAYABLE TO RELATED PARTY 4,268 0
LONG TERM DEBT 22,913 0
OTHER LIABILITIES 7,615 4,090
Total liabilities $ 90,344 $ 46,599
COMMITMENTS AND CONTINGENCIES (Note 12)
STOCKHOLDERS' DEFICIT    
15% Convertible preferred stock, $100 par value; authorized 1,200,000 shares; issued and outstanding 1,131,551 shares; liquidation value $113,155 $ 108,256 $ 108,256
Common stock, $1 par value; authorized 35,000,000 shares; issued 9,822,304 shares 9,822 9,822
Additional paid-in capital 27,110 27,110
Accumulated other comprehensive loss (1,631) (1,544)
Accumulated deficit (130,858) (122,898)
Treasury stock, at cost, 1,871,128 shares (21,437) (21,437)
Total stockholders' deficit (8,738) (691)
Total liabilities and stockholders' deficit $ 81,606 $ 45,908