Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 02, 2023
Apr. 03, 2022
Current assets:    
Cash and cash equivalents $ 1,742 $ 1,598
Accounts receivable (net of allowances of $1,474 at April 2, 2023 and $945 at April 3, 2022):    
Due from factor 20,740 21,093
Other 2,068 2,133
Inventories 34,211 20,653
Prepaid expenses 1,614 1,031
Total current assets 60,375 46,508
Operating lease right of use assets 17,305 2,423
Property, plant and equipment - at cost:    
Vehicles 182 182
Leasehold improvements 473 425
Machinery and equipment 4,333 3,581
Furniture and fixtures 408 367
Property, plant and equipment - gross 5,396 4,555
Less accumulated depreciation 3,677 3,198
Property, plant and equipment - net 1,719 1,357
Finite-lived intangible assets - at cost:    
Customer relationships 8,174 7,374
Other finite-lived intangible assets 4,766 4,266
Finite-lived intangible assets - gross 12,940 11,640
Less accumulated amortization 9,467 8,986
Finite-lived intangible assets - net 3,473 2,654
Goodwill 7,912 7,125
Other 188 88
Total Assets 90,972 60,155
Current liabilities:    
Accounts payable 7,548 6,375
Accrued wages and benefits 1,087 2,196
Accrued royalties 614 462
Dividends payable 815 827
Operating lease liabilities, current 2,427 1,832
Other accrued liabilities 566 94
Total current liabilities 13,057 11,786
Non-current liabilities:    
Long-term debt 12,674 0
Deferred income taxes 815 1,020
Operating lease liabilities, noncurrent 14,889 809
Reserve for unrecognized tax liabilities 323 739
Total non-current liabilities 28,701 2,568
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at April 2, 2023 and April 3, 2022; Issued 13,051,814 shares at April 2, 2023 and 12,944,918 shares at April 3, 2022 131 129
Additional paid-in capital 57,126 55,925
Treasury stock - at cost - 2,897,507 shares at April 2, 2023 and 2,864,698 shares at April 3, 2022 (15,821) (15,614)
Retained Earnings 7,778 5,361
Total shareholders' equity 49,214 45,801
Total Liabilities and Shareholders' Equity $ 90,972 $ 60,155