Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Balance Sheets

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Unaudited Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jul. 01, 2012
Apr. 01, 2012
Current assets:    
Cash and cash equivalents $ 3,561 $ 214
Accounts receivable (net of allowances of $771 at July 1, 2012 and $1,062 at April 1, 2012):    
Due from factor 14,509 19,441
Other 656 882
Inventories 14,519 11,839
Prepaid expenses 2,110 2,427
Assets held for sale   275
Deferred income taxes 35  
Total current assets 35,390 35,078
Property, plant and equipment - at cost:    
Vehicles 187 187
Land, buildings and leasehold improvements 491 217
Machinery and equipment 2,388 2,351
Furniture and fixtures 747 747
Property, plant and equipment - gross 3,813 3,502
Less accumulated depreciation 3,043 2,988
Property, plant and equipment - net 770 514
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,112 6,858
Finite-lived intangible assets - gross 12,523 12,269
Less accumulated amortization 6,484 6,297
Finite-lived intangible assets - net 6,039 5,972
Goodwill 1,126 1,126
Deferred income taxes 1,650 1,864
Other 102 107
Total Assets 45,077 44,661
Current liabilities:    
Accounts payable 5,940 6,092
Accrued wages and benefits 785 896
Accrued royalties 1,427 1,337
Dividends payable 780 1,160
Other accrued liabilities 553 333
Deferred income taxes   127
Total current liabilities 9,485 9,945
Commitments and contingencies      
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at July 1, 2012 and April 1, 2012; Issued 11,393,522 shares at July 1, 2012 and 11,132,272 shares at April 1, 2012 114 111
Additional paid-in capital 44,648 43,664
Treasury stock - at cost - 1,646,218 shares at July 1, 2012 and 1,465,780 shares at April 1, 2012 (6,393) (5,391)
Accumulated deficit (2,777) (3,668)
Total shareholders' equity 35,592 34,716
Total Liabilities and Shareholders' Equity $ 45,077 $ 44,661