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, unless otherwise specified
Dec. 30, 2012
Apr. 01, 2012
ASSETS    
Cash and cash equivalents $ 245 $ 214
Accounts receivable (net of allowances of $450 at December 30, 2012 and $1,062 at April 1, 2012):    
Due from factor 18,237 19,441
Other 524 882
Inventories 13,282 11,839
Prepaid expenses 2,137 2,427
Assets held for sale   275
Total current assets 34,425 35,078
Vehicles 192 187
Land, buildings and leasehold improvements 491 217
Machinery and equipment 2,489 2,351
Furniture and fixtures 747 747
Property, plant and equipment - gross 3,919 3,502
Less accumulated depreciation 3,122 2,988
Property, plant and equipment - net 797 514
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,307 6,858
Finite-lived intangible assets - gross 12,718 12,269
Less accumulated amortization 6,871 6,297
Finite-lived intangible assets - net 5,847 5,972
Goodwill 1,126 1,126
Deferred income taxes 1,305 1,864
Other 77 107
Total Assets 43,577 44,661
Current liabilities:    
Accounts payable 8,310 6,092
Accrued wages and benefits 778 896
Accrued royalties 1,867 1,337
Dividends payable   1,160
Income taxes currently payable 796 105
Other accrued liabilities 105 228
Deferred income taxes 99 127
Total current liabilities 11,955 9,945
Commitments and contingencies      
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at December 30, 2012 and April 1, 2012; Issued 11,696,022 shares at December 30, 2012 and 11,132,272 shares at April 1, 2012 117 111
Additional paid-in capital 46,097 43,664
Treasury stock - at cost - 1,868,003 shares at December 30, 2012 and 1,465,780 shares at April 1, 2012 (7,690) (5,391)
Accumulated deficit (6,902) (3,668)
Total shareholders' equity 31,622 34,716
Total Liabilities and Shareholders' Equity $ 43,577 $ 44,661