Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Mar. 28, 2021
Mar. 29, 2020
Current assets:    
Cash and cash equivalents $ 613,000 $ 282,000
Accounts receivable (net of allowances of $723 at March 28, 2021 and $530 at March 29, 2020):    
Due from factor 18,604,000 17,072,000
Other 734,000 731,000
Inventories 20,335,000 17,732,000
Prepaid expenses 1,184,000 1,224,000
Total current assets 41,470,000 37,041,000
Operating lease right of use assets 4,068,000 4,896,000
Property, plant and equipment - at cost:    
Vehicles 171,000 246,000
Leasehold improvements 425,000 404,000
Machinery and equipment 3,152,000 3,991,000
Furniture and fixtures 345,000 793,000
Property, plant and equipment - gross 4,093,000 5,434,000
Less accumulated depreciation 2,635,000 3,434,000
Property, plant and equipment - net 1,458,000 2,000,000
Finite-lived intangible assets - at cost:    
Tradename and trademarks 2,567,000 3,667,000
Customer relationships 7,374,000 7,374,000
Other finite-lived intangible assets 1,699,000 3,159,000
Finite-lived intangible assets - gross 11,640,000 14,200,000
Less accumulated amortization 8,477,000 8,623,000
Finite-lived intangible assets - net 3,163,000 5,577,000
Goodwill 7,125,000 7,125,000
Deferred income taxes 706,000 439,000
Other 92,000 95,000
Total Assets 58,082,000 57,173,000
Current liabilities:    
Accounts payable 5,539,000 2,972,000
Accrued wages and benefits 2,216,000 1,781,000
Accrued royalties 410,000 370,000
Dividends payable 800,000 813,000
Operating lease liabilities, current 1,802,000 191,000
Other accrued liabilities 215,000 352,000
Current maturities of long-term debt 1,964,000
Total current liabilities 12,946,000 6,479,000
Non-current liabilities:    
Long-term debt 2,578,000
Operating lease liabilities, noncurrent 2,641,000 4,959,000
Reserve for unrecognized tax liabilities 630,000 721,000
Total non-current liabilities 3,271,000 8,258,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at March 28, 2021 and March 29, 2020; Issued 12,809,753 shares at March 28, 2021 and 12,603,301 shares at March 29, 2020 128,000 126,000
Additional paid-in capital 54,748,000 53,610,000
Treasury stock - at cost - 2,811,446 shares at March 28, 2021 and 2,436,494 shares at March 29, 2020 (15,202,000) (12,408,000)
Retained Earnings 2,191,000 1,108,000
Total shareholders' equity 41,865,000 42,436,000
Total Liabilities and Shareholders' Equity $ 58,082,000 $ 57,173,000