Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 19,319 $ 23,762
Restricted cash 13,555 12,818
Accounts receivable, net 68,605 71,661
Accounts receivable retainage 11,900 15,968
Costs and estimated earnings in excess of billings 68,905 66,325
Inventory, net 10,118 8,896
Prepaid expenses and other current assets 12,073 8,666
Income tax receivable 2,855 3,525
Deferred income taxes 5,363 5,440
Project development costs 14,416 9,674
Total current assets 227,109 226,735
Federal ESPC receivable 82,659 79,167
Property and equipment, net 6,361 7,372
Project assets, net 223,772 217,772
Deferred financing fees, net 4,922 4,313
Goodwill 59,883 60,479
Intangible assets, net 9,197 11,238
Other assets 23,194 22,583
Total assets 637,097 629,659
Current liabilities:    
Current portions of long-term debt and capital lease liabilities 12,246 12,255
Accounts payable 79,275 87,787
Accrued expenses and other current liabilities 26,155 26,944
Billings in excess of cost and estimated earnings 23,930 18,291
Income taxes payable 0 812
Total current liabilities 141,606 146,089
Long-term debt and capital lease liabilities, less current portions 90,566 90,037
Federal ESPC liabilities 85,426 70,875
Deferred income taxes 5,277 7,210
Deferred grant income 8,567 8,842
Other liabilities $ 20,350 $ 20,300
Commitments and contingencies (Note 5)    
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at June 30, 2015 and December 31, 2014 $ 0 $ 0
Additional paid-in capital 109,015 107,445
Retained earnings 179,280 181,477
Accumulated other comprehensive loss, net (2,995) (2,620)
Non-controlling interest 0 (1)
Total stockholders’ equity 285,305 286,306
Total liabilities and stockholders’ equity 637,097 629,659
Common Class A    
Stockholders’ equity:    
Common Stock 3 3
Common Class B    
Stockholders’ equity:    
Common Stock $ 2 $ 2