Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 4,475 $ 4,594
Restricted cash 467 11,562
Accounts receivable, net of allowance of $140 and $1,568, respectively 22,724 26,060
Contract assets 8,218 11,487
Other current assets 1,735 4,006
Total current assets 37,619 85,631
Property, plant and equipment, net 335 1,712
Goodwill 35,400 35,400
Intangible assets, net 12,500 12,500
Other long-term assets 1,650 573
Total assets 87,504 135,816
Current liabilities:    
Accounts payable 2,953 5,080
Accrued compensation and benefits 10,859 7,481
Contract liabilities 3,278 7,049
Short-term borrowings 3,274  
Current portion of long-term debt 525  
Other current liabilities 5,518 5,552
Total current liabilities 27,047 53,964
Long-term debt, net 32,978 24,304
Deferred tax liabilities 2,682 9,921
Other long-term liabilities 1,396 2,390
Total liabilities 69,291 93,689
Commitments and contingencies (Note 10 and 14)
Stockholders’ equity:    
Common stock, $0.01 par value, 170,000,000 shares authorized and 19,767,605 and 19,360,026 shares issued, respectively, and 18,660,218 and 17,946,386 shares outstanding, respectively 197 193
Paid-in capital 80,424 78,910
Retained earnings (deficit) (62,397) (36,962)
Treasury stock, at par (1,107,387 and 1,413,640 common shares, respectively) (11) (14)
Total stockholders’ equity 18,213 42,127
Total liabilities and stockholders’ equity 87,504 135,816
Discontinued operations, held-for-sale or disposed of by sale    
Current assets:    
Current assets of discontinued operations   27,922
Current liabilities:    
Current liabilities of discontinued operations 640 28,802
Long-term liabilities of discontinued operations $ 5,188 $ 3,110