v3.20.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 28, 2020
Mar. 29, 2020
Current assets:    
Cash and cash equivalents $ 6,710,000 $ 282,000
Accounts receivable (net of allowances of $587 at June 28, 2020 and $530 at March 29, 2020):    
Due from factor 14,473,000 17,072,000
Other 599,000 731,000
Inventories 17,330,000 17,732,000
Prepaid expenses 1,041,000 1,224,000
Total current assets 40,153,000 37,041,000
Operating lease right of use assets 4,465,000 4,896,000
Property, plant and equipment - at cost:    
Vehicles 246,000 246,000
Leasehold improvements 409,000 404,000
Machinery and equipment 4,055,000 3,991,000
Furniture and fixtures 793,000 793,000
Property, plant and equipment - gross 5,503,000 5,434,000
Less accumulated depreciation 3,621,000 3,434,000
Property, plant and equipment - net 1,882,000 2,000,000
Finite-lived intangible assets - at cost:    
Tradename and trademarks 3,667,000 3,667,000
Customer relationships 7,374,000 7,374,000
Other finite-lived intangible assets 3,159,000 3,159,000
Finite-lived intangible assets - gross 14,200,000 14,200,000
Less accumulated amortization 8,832,000 8,623,000
Finite-lived intangible assets - net 5,368,000 5,577,000
Goodwill 7,125,000 7,125,000
Deferred income taxes 612,000 439,000
Other 95,000 95,000
Total Assets 59,700,000 57,173,000
Current liabilities:    
Accounts payable 4,573,000 2,972,000
Accrued wages and benefits 2,220,000 1,781,000
Accrued royalties 521,000 370,000
Dividends payable 813,000
Income taxes payable 541,000 102,000
Operating lease liabilities, current 134,000 191,000
Unearned revenue 524,000 155,000
Other accrued liabilities 85,000 95,000
Current maturities of long-term debt 737,000
Total current liabilities 9,335,000 6,479,000
Non-current liabilities:    
Long-term debt 1,227,000 2,578,000
Operating lease liabilities, noncurrent 4,650,000 4,959,000
Reserve for unrecognized tax liabilities 751,000 721,000
Total non-current liabilities 6,628,000 8,258,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 28, 2020 and March 29, 2020; Issued 12,623,301 shares at June 28, 2020 and 12,603,301 shares at March 29, 2020 126,000 126,000
Additional paid-in capital 53,696,000 53,610,000
Treasury stock - at cost - 2,436,494 shares at June 28, 2020 and March 29, 2020 (12,408,000) (12,408,000)
Retained Earnings 2,323,000 1,108,000
Total shareholders' equity 43,737,000 42,436,000
Total Liabilities and Shareholders' Equity $ 59,700,000 $ 57,173,000

Source