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Balance Sheet

Balance Sheet

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 375 $ 626
Restricted cash 113 113
Accounts receivable, net 126,843 129,343
Costs and estimated earnings in excess of billings on uncompleted contracts 29,969 33,006
Other current assets 4,300 3,172
Total current assets 161,600 166,260
Property and equipment, net of accumulated depreciation of $8.8 million and $7.8 million at March 31, 2018 and December 31, 2017, respectively 18,320 17,918
Intangible assets, net 13,890 14,225
Goodwill 10,488 10,488
Deferred tax asset 4,707 3,664
Other assets 493 465
Total assets 209,498 213,020
Current liabilities    
Current portion of long-term debt 7,301 6,358
Accounts payable, including retainage 62,077 67,438
Billings in excess of costs and estimated earnings on uncompleted contracts 31,181 28,543
Accrued income taxes 2,088 2,220
Accrued expenses and other current liabilities 26,528 30,925
Total current liabilities 129,175 135,484
Long-term debt 35,188 20,556
Other long-term liabilities 1,038 861
Total liabilities 165,401 156,901
Commitments and contingencies (Note 14)
Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, no shares issued and outstanding at March 31, 2018 and 280,000 issued and outstanding at December 31, 2017, respectively ($7,853 redemption value at December 31, 2017) 0 7,959
STOCKHOLDERS’ EQUITY    
Common stock, $.0001 par value; 100,000,000 shares authorized, 7,542,249 issued and outstanding at March 31, 2018 and 7,504,133 at December 31, 2017 1 1
Additional paid-in capital 53,099 54,738
Accumulated deficit (9,003) (6,579)
Total stockholders’ equity 44,097 48,160
Total liabilities and stockholders’ equity $ 209,498 $ 213,020

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