Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,103 $ 829
Accounts receivable (net of allowances of $1,631 at June 30, 2024 and $1,486 at March 31, 2024):    
Due from factor 11,224 18,584
Other 4,598 3,819
Inventory, Net 30,610 29,709
Prepaid expenses 1,503 1,883
Total current assets 49,038 54,824
Operating lease right of use assets 14,071 14,949
Property, plant and equipment - at cost:    
Leasehold improvements 535 493
Machinery and equipment 5,354 5,062
Furniture and fixtures 477 477
Property, plant and equipment - gross 6,366 6,032
Less accumulated depreciation 4,560 4,376
Property, plant and equipment - net 1,806 1,656
Finite-lived intangible assets - at cost:    
Customer relationships 8,174 8,174
Other finite-lived intangible assets 4,766 4,766
Finite-lived intangible assets - gross 12,940 12,940
Less accumulated amortization 10,216 10,068
Finite-lived intangible assets - net 2,724 2,872
Goodwill 7,926 7,926
Deferred income taxes 581 277
Other 213 202
Total Assets 76,359 82,706
Current liabilities:    
Accounts payable 6,727 4,502
Accrued wages and benefits 662 813
Accrued royalties 354 290
Dividends payable 858 843
Operating lease liabilities, current 3,663 3,587
Other accrued liabilities 354 426
Total current liabilities 12,618 10,461
Non-current liabilities:    
Long-term debt 1,466 8,112
Operating lease liabilities, noncurrent 11,217 12,138
Reserve for unrecognized tax liabilities 402 394
Total non-current liabilities 13,085 20,644
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 30, 2024 and March 31, 2024; Issued 13,208,226 shares at June 30, 2024 and March 31, 2024 132 132
Additional paid-in capital 58,090 57,888
Treasury stock - at cost - 2,897,507 shares at June 30, 2024 and March 31, 2024 (15,821) (15,821)
Retained Earnings 8,255 9,402
Total shareholders' equity 50,656 51,601
Total Liabilities and Shareholders' Equity $ 76,359 $ 82,706