Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 02, 2022
Jan. 01, 2022
Current Assets    
Cash and cash equivalents $ 26,626 $ 13,192
Accounts receivable, less allowance for credit losses; $5,733 and $5,449, at April 2, 2022 and January 1, 2022, respectively 118,758 107,372
Costs and estimated earnings in excess of billing on uncompleted contracts 30,286 23,121
Inventory, net 64,226 56,596
Prepaid expenses 12,255 9,843
Other current assets 2,922 4,057
Total current assets 255,073 214,181
Right-of-use assets, net 41,518 0
Property and equipment, net 42,584 41,607
Tradename and trademarks 107,826 107,980
Goodwill 369,279 369,286
Deferred tax asset, net 59,998 58,915
Other assets 1,855 1,973
Total assets 1,198,708 1,122,002
Current Liabilities    
Accounts payable 65,336 54,961
Billing in excess of costs and estimated earnings on uncompleted contracts 28,053 23,207
Current maturities of long-term debt 8,215 8,067
Other accrued expenses 65,867 54,111
Total current liabilities 167,471 140,346
Line of credit 0 6,369
Long-term debt, net 703,022 703,718
Deferred tax liability, net 1,804 749
Other long-term liabilities 39,260 2,533
Total liabilities 911,557 853,715
STOCKHOLDERS’ EQUITY    
Common Stock, 825,000,000 shares authorized, $.0001 par value, 146,561,717 and 146,561,717 shares issued and outstanding at April 2, 2022 and January 1, 2022, respectively 15 15
Additional paid-in capital 278,399 277,799
Accumulated other comprehensive loss (1,465) (949)
Accumulated surplus (deficit) 10,202 (8,578)
Total stockholders’ equity 287,151 268,287
Total liabilities and stockholders’ equity 1,198,708 1,122,002
Customer relationships, net    
Current Assets    
Finite-lived assets 305,080 312,199
Other intangibles, net    
Current Assets    
Finite-lived assets $ 15,495 $ 15,861