Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2021
SIGNIFICANT ACCOUNTING POLICIES  
Summary of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis:

September 30, 2021

December 31, 2020

Carrying 

Fair Value

Carrying 

Fair Value

    

amount

    

Level 1

    

Level 2

    

Level 3

    

amount

    

Level 1

    

Level 2

    

Level 3

Assets:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Interest rate swap (Note 5)

$

829

$

$

829

$

$

$

$

$

Liabilities:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Interest rate swap (Note 5)

 

709

 

 

709

 

 

 

 

 

Summary of changes in the accrued warranties and related costs

The following table represents changes in the Company’s accrued warranties and related costs:

Nine months ended September 30,

    

2021

    

2020

Beginning accrued warranty expense

$

1,133

$

2,114

Current period claims

 

(236)

 

(223)

Provision for current period sales

 

256

 

357

Ending accrued warranty expense

$

1,153

$

2,248

Summary of calculation of weighted average shares outstanding and net (loss) income per share

Three months ended September 30,

    

Nine months ended September 30,

    

2021

    

2020

    

2021

    

2020

Numerator for basic and diluted earnings per share:

 

  

 

  

 

  

 

  

Net (loss) income

$

(5,306)

$

6,447

$

8,373

$

22,673

Denominator:

 

  

 

  

 

  

 

  

Weighted average shares outstanding - basic

 

27,483,350

 

27,483,350

 

27,483,350

 

27,483,350

Diluted weighted average shares outstanding

 

27,483,350

 

27,483,350

 

27,483,350

 

27,483,350

Net (loss) income per share:

 

  

 

  

 

  

 

  

Basic

$

(0.19)

$

0.23

$

0.30

$

0.82

Diluted

$

(0.19)

$

0.23

$

0.30

$

0.82