Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 626 $ 7,406
Restricted cash 113 113
Accounts receivable, net 129,343 113,972
Costs and estimated earnings in excess of billings on uncompleted contracts 33,006 31,959
Advances to and equity in joint ventures, net 11 10
Other current assets 3,161 1,723
Total current assets 166,260 155,183
Property and equipment, net 17,918 18,541
Intangible assets, net 14,225 17,807
Goodwill 10,488 10,488
Deferred tax asset 3,664 4,268
Other assets 465 588
Total assets 213,020 206,875
Current liabilities    
Current portion of long-term debt 6,358 4,476
Accounts payable, including retainage 67,438 57,034
Billings in excess of costs and estimated earnings on uncompleted contracts 28,543 39,190
Accrued income taxes 2,220 0
Accrued expenses and other current liabilities 30,925 26,029
Total current liabilities 135,484 126,729
Long-term debt 20,556 21,507
Other long-term liabilities 861 817
Total liabilities 156,901 149,053
Commitments and contingencies
Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, 280,000 issued and outstanding as of December 31, 2017 and 400,000 issued and outstanding as of December 31, 2016 ($7,853 and $10,365 redemption value as of December 31, 2017 and December 31, 2016, respectively) 7,959 10,374
STOCKHOLDERS’ EQUITY    
Common stock, $.0001 par value; 100,000,000 shares authorized, 7,504,133 issued and outstanding at December 31, 2017 and 7,454,491 at December 31, 2016 1 1
Additional paid-in capital 54,738 55,162
Accumulated deficit (6,579) (7,715)
Total stockholders’ equity 48,160 47,448
Total liabilities and stockholders’ equity $ 213,020 $ 206,875