PDF - Somero Enterprises

Section 4Financial Statements: Somero Enterprises GroupCombined Balance SheetsAs of 31 December 2003 and 2004, 30 June 2005 (unaudited) and 10 August 200530 June31 December 31 December 2005 10 August2003 2004 (Unaudited) 2005US$ 000 US$ 000 US$ 000 US$ 000AssetsCurrent assets:Cash and cash equivalents 326 8 13 9Accounts receivable – net 2,409 1,440 2,539 2,407Inventories – net 6,099 4,351 4,320 4,688Refundable income taxes 101 – – –Prepaid expenses and other current assets 173 302 164 175Deferred tax assets 474 377 737 827Total current assets 9,582 6,478 7,773 8,106Property, plant and equipment – net 4,515 4,134 3,699 3,695Other assets 35 35 33 45Intangible assets – net 7,845 6,890 6,413 6,310Goodwill 1,197 1,197 1,197 1,197Total assets 23,174 18,734 19,115 19,353Liabilities and net parent company investmentCurrent liabilities:Notes payable – affiliate 7,217 7,217 7,217 7,217Accounts payable 1,840 1,784 2,736 2,894Accrued expenses 1,565 2,083 2,153 2,443Income taxes payable – 1,957 3,998 4,141Total current liabilities 10,622 13,041 16,104 16,695Obligation under capital lease 657 657 657 657Other long-term liabilities – 300 – –Deferred tax liabilities 2,993 2,507 2,458 2,419Total liabilities 14,272 16,505 19,219 19,771Commitments and contingenciesNet parent company investment 8,902 2,229 (104) (418)Total liabilities and net parentcompany investment 23,174 18,734 19,115 19,353See notes to combined financial statements.46Somero Enterprises, Inc.Annual Report and Accounts 2006