v3.21.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 26, 2021
Mar. 28, 2021
Current assets:    
Cash and cash equivalents $ 1,904,000 $ 613,000
Accounts receivable (net of allowances of $1,490 at September 26, 2021 and $723 at March 28, 2021):    
Due from factor 17,221,000 18,604,000
Other 1,264,000 734,000
Inventories 24,234,000 20,335,000
Prepaid expenses 716,000 1,184,000
Total current assets 45,339,000 41,470,000
Operating lease right of use assets 3,249,000 4,068,000
Property, plant and equipment - at cost:    
Vehicles 171,000 171,000
Leasehold improvements 429,000 425,000
Machinery and equipment 3,442,000 3,152,000
Furniture and fixtures 345,000 345,000
Property, plant and equipment - gross 4,387,000 4,093,000
Less accumulated depreciation 2,946,000 2,635,000
Property, plant and equipment - net 1,441,000 1,458,000
Finite-lived intangible assets - at cost:    
Customer relationships 7,374,000 7,374,000
Other finite-lived intangible assets 4,266,000 4,266,000
Finite-lived intangible assets - gross 11,640,000 11,640,000
Less accumulated amortization 8,736,000 8,477,000
Finite-lived intangible assets - net 2,904,000 3,163,000
Goodwill 7,125,000 7,125,000
Deferred income taxes 429,000 706,000
Other 89,000 92,000
Total Assets 60,576,000 58,082,000
Current liabilities:    
Accounts payable 7,499,000 5,539,000
Accrued wages and benefits 1,207,000 2,216,000
Accrued royalties 1,078,000 410,000
Dividends payable 806,000 800,000
Operating lease liabilities, current 1,800,000 1,802,000
Other accrued liabilities 152,000 215,000
Current maturities of long-term debt 0 1,964,000
Total current liabilities 12,542,000 12,946,000
Non-current liabilities:    
Operating lease liabilities, noncurrent 1,733,000 2,641,000
Reserve for unrecognized tax liabilities 701,000 630,000
Total non-current liabilities 2,434,000 3,271,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at September 26, 2021 and March 28, 2021; Issued 12,924,918 shares at September 26, 2021 and 12,809,753 shares at March 28, 2021 129,000 128,000
Additional paid-in capital 55,335,000 54,748,000
Treasury stock - at cost - 2,849,846 shares at September 26, 2021 and 2,811,446 shares at March 28, 2021 (15,498,000) (15,202,000)
Retained Earnings 5,634,000 2,191,000
Total shareholders' equity 45,600,000 41,865,000
Total Liabilities and Shareholders' Equity $ 60,576,000 $ 58,082,000

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