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
Sep. 30, 2012
Apr. 01, 2012
ASSETS    
Cash and cash equivalents $ 6,336 $ 214
Accounts receivable (net of allowances of $507 at September 30, 2012 and $1,062 at April 1, 2012):    
Due from factor 13,115 19,441
Other 1,084 882
Inventories 12,469 11,839
Prepaid expenses 1,582 2,427
Assets held for sale   275
Deferred income taxes 111  
Total current assets 34,697 35,078
Property, plant and equipment - at cost:    
Vehicles 187 187
Land, buildings and leasehold improvements 491 217
Machinery and equipment 2,425 2,351
Furniture and fixtures 747 747
Property, plant and equipment - gross 3,850 3,502
Less accumulated depreciation 3,096 2,988
Property, plant and equipment - net 754 514
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,189 6,858
Finite-lived intangible assets - gross 12,600 12,269
Less accumulated amortization 6,678 6,297
Finite-lived intangible assets - net 5,922 5,972
Goodwill 1,126 1,126
Deferred income taxes 1,548 1,864
Other 102 107
Total Assets 44,149 44,661
LIABILITIES AND SHAREHOLDERS' EQUITY    
Accounts payable 4,950 6,092
Accrued wages and benefits 866 896
Accrued royalties 1,296 1,337
Dividends payable 784 1,160
Other accrued liabilities 520 333
Deferred income taxes   127
Total current liabilities 8,416 9,945
Commitments and contingencies      
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at September 30, 2012 and April 1, 2012; Issued 11,470,522 shares at September 30, 2012 and 11,132,272 shares at April 1, 2012 114 111
Additional paid-in capital 44,931 43,664
Treasury stock - at cost - 1,666,274 shares at September 30, 2012 and 1,465,780 shares at April 1, 2012 (6,506) (5,391)
Accumulated deficit (2,806) (3,668)
Total shareholders' equity 35,733 34,716
Total Liabilities and Shareholders' Equity $ 44,149 $ 44,661