Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Jun. 30, 2013
Current assets:    
Cash $ 7,873 $ 21,565
Receivables, net 81,587 109,947
Inventories 144,117 123,824
Restricted Inventory 49,684 38,554
Restricted and Nonrestricted Inventory, Net 193,801 162,378
Deferred tax assets 5,993 5,993
Prepaid expenses and other assets 939 487
Total current assets 290,193 300,370
Property and equipment, net 1,541 1,213
Goodwill 4,884 4,884
Intangibles, net 2,853 3,141
Investments 500 0
Total assets 299,971 309,608
Current liabilities:    
Lines of credit 119,800 95,000
Liability on borrowed metals 8,620 20,117
Product financing arrangement 49,684 38,554
Accounts Payable, Current 62,244 86,010
Accrued liabilities 5,904 6,601
Payable to Former Parent 0 1,015
Income taxes payable to Former Parent 5,291 8,505
Total current liabilities 251,543 255,802
Deferred tax liabilities 552 552
Total liabilities 252,095 256,354
Commitments and contingencies      
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; issued and outstanding: none at March 31, 2014 and June 30, 2013 0 0
Common Stock, par value $0.01; 40,000,000 authorized; 7,402,664 issued and outstanding at March 31, 2014 and June 30, 2013 74 74
Additional paid-in capital 22,282 24,370
Retaining earnings 25,520 28,810
Total stockholders’ equity 47,876 53,254
Total liabilities and stockholders’ equity $ 299,971 $ 309,608