Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 36,295 $ 20,245
Accounts receivable, net of allowance for doubtful accounts of $709 and $842, respectively 222,269 154,596
Inventory, net 3,741 4,766
Vendor prepayments and advances   890
Prepaid expenses and other current assets 6,755 4,141
Total current assets 269,060 184,638
Equipment and leasehold improvements, net 8,850 3,515
Goodwill 27,182 18,963
Other intangibles, net 26,930 19,693
Right-of-use assets, net 878 1,235
Accounts receivable, net of current portion 797 3,114
Other assets 1,077 350
Deferred income tax assets 324 348
Total assets 335,098 231,856
Current liabilities:    
Accounts payable and accrued expenses 249,648 160,650
Lease liability, current portion 450 521
Term loan, current portion 540 520
Total current liabilities 250,638 161,691
Lease liability, net of current portion 879 1,296
Deferred income tax liabilities 5,554 4,137
Term loan, net of current portion 752 1,292
Non-current liabilities 2,505 2,866
Total liabilities 260,328 171,282
Commitments and contingencies
Stockholders' equity:    
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,573,448 and 4,478,432 shares outstanding, respectively 53 53
Additional paid-in capital 34,647 32,715
Treasury stock, at cost, 711,052 and 806,068 shares, respectively (12,623) (13,230)
Retained earnings 53,215 43,904
Accumulated other comprehensive loss (522) (2,868)
Total stockholders' equity 74,770 60,574
Total liabilities and stockholders' equity $ 335,098 $ 231,856