v3.20.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 27, 2020
Mar. 29, 2020
Current assets:    
Cash and cash equivalents $ 6,832,000 $ 282,000
Accounts receivable (net of allowances of $684 at September 27, 2020 and $530 at March 29, 2020):    
Due from factor 17,928,000 17,072,000
Other 869,000 731,000
Inventories 19,191,000 17,732,000
Prepaid expenses 725,000 1,224,000
Total current assets 45,545,000 37,041,000
Operating lease right of use assets 4,029,000 4,896,000
Property, plant and equipment - at cost:    
Vehicles 246,000 246,000
Leasehold improvements 453,000 404,000
Machinery and equipment 4,294,000 3,991,000
Furniture and fixtures 793,000 793,000
Property, plant and equipment - gross 5,786,000 5,434,000
Less accumulated depreciation 3,804,000 3,434,000
Property, plant and equipment - net 1,982,000 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 9,026,000 8,623,000
Finite-lived intangible assets - net 5,174,000 5,577,000
Goodwill 7,125,000 7,125,000
Deferred income taxes 467,000 439,000
Other 95,000 95,000
Total Assets 64,417,000 57,173,000
Current liabilities:    
Accounts payable 8,054,000 2,972,000
Accrued wages and benefits 1,379,000 1,781,000
Accrued royalties 1,026,000 370,000
Dividend payable 818,000 813,000
Operating lease liabilities, current 178,000 191,000
Other accrued liabilities 465,000 352,000
Current maturities of long-term debt 906,000
Total current liabilities 12,826,000 6,479,000
Non-current liabilities:    
Long-term debt 1,057,000 2,578,000
Operating lease liabilities, noncurrent 4,242,000 4,959,000
Reserve for unrecognized tax liabilities 785,000 721,000
Total non-current liabilities 6,084,000 8,258,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at September 27, 2020 and March 29, 2020; Issued 12,664,753 shares at September 27, 2020 and 12,603,301 shares at March 29, 2020 127,000 126,000
Additional paid-in capital 53,796,000 53,610,000
Treasury stock - at cost - 2,436,494 shares at September 27, 2020 and March 29, 2020 (12,408,000) (12,408,000)
Retained Earnings 3,992,000 1,108,000
Total shareholders' equity 45,507,000 42,436,000
Total Liabilities and Shareholders' Equity $ 64,417,000 $ 57,173,000

Source