Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Apr. 01, 2012
Current assets:    
Cash and cash equivalents $ 340 $ 214
Accounts receivable (net of allowances of $349 at March 31, 2013 and $1,062 at April 1, 2012):    
Due from factor 21,431 19,441
Other 293 882
Inventories 10,930 11,839
Prepaid expenses 2,073 2,427
Deferred income taxes 160  
Assets held for sale   275
Total current assets 35,227 35,078
Property, plant and equipment - at cost:    
Vehicles 193 187
Land, buildings and leasehold improvements 216 217
Machinery and equipment 2,656 2,351
Furniture and fixtures 743 747
Property, plant and equipment - gross 3,808 3,502
Less accumulated depreciation 3,070 2,988
Property, plant and equipment - net 738 514
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,643 6,858
Finite-lived intangible assets - gross 13,054 12,269
Less accumulated amortization 7,064 6,297
Finite-lived intangible assets - net 5,990 5,972
Goodwill 1,126 1,126
Deferred income taxes 1,005 1,864
Other 77 107
Total Assets 44,163 44,661
Current liabilities:    
Accounts payable 7,376 6,092
Accrued wages and benefits 1,375 896
Accrued royalties 971 1,337
Dividends payable 786 1,160
Income taxes currently payable 710 105
Other accrued liabilities 133 228
Deferred income taxes   127
Total current liabilities 11,351 9,945
Commitments and contingencies      
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at March 31, 2013 and April 1, 2012; Issued 11,696,022 shares at March 31, 2013 and 11,132,272 shares at April 1, 2012 117 111
Additional paid-in capital 46,219 43,664
Treasury stock - at cost - 1,868,003 shares at March 31, 2013 and 1,465,780 shares at April 1, 2012 (7,690) (5,391)
Accumulated deficit (5,834) (3,668)
Total shareholders' equity 32,812 34,716
Total Liabilities and Shareholders' Equity $ 44,163 $ 44,661