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 ($)
Dec. 31, 2017
Apr. 02, 2017
Current assets:    
Cash and cash equivalents $ 117,000 $ 7,892,000
Accounts receivable (net of allowances of $657 at December 31, 2017 and $775 at April 2, 2017):    
Due from factor 9,857,000 14,921,000
Other 2,907,000 693,000
Inventories 22,844,000 15,821,000
Prepaid expenses 2,105,000 1,783,000
Total current assets 37,830,000 41,110,000
Property, plant and equipment - at cost:    
Vehicles 268,000 247,000
Leasehold improvements 262,000 248,000
Machinery and equipment 3,956,000 2,396,000
Furniture and fixtures 807,000 789,000
Property, plant and equipment - gross 5,293,000 3,680,000
Less accumulated depreciation 3,422,000 3,239,000
Property, plant and equipment - net 1,871,000 441,000
Finite-lived intangible assets - at cost:    
Customer relationships 7,374,000 5,534,000
Other finite-lived intangible assets 7,086,000 3,686,000
Finite-lived intangible assets gross 14,460,000 9,220,000
Less accumulated amortization 6,710,000 6,092,000
Finite-lived intangible assets - net 7,750,000 3,128,000
Goodwill 6,863,000 1,126,000
Deferred income taxes 655,000 1,240,000
Other 130,000 139,000
Total Assets 55,099,000 47,184,000
Current liabilities:    
Accounts payable 8,902,000 5,149,000
Accrued wages and benefits 955,000 799,000
Accrued royalties 1,803,000 353,000
Dividends payable 807,000 803,000
Income taxes payable 161,000 224,000
Other accrued liabilities 459,000 245,000
Total current liabilities 13,087,000 7,573,000
Non-current liabilities:    
Long-term debt 2,311,000
Reserve for unrecognized tax benefits 956,000 688,000
Total non-current liabilities 3,267,000 688,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at December 31, 2017 and April 2, 2017; Issued 12,493,789 shares at December 31, 2017 and 12,423,539 shares at April 2, 2017 125,000 124,000
Additional paid-in capital 52,741,000 52,220,000
Treasury stock - at cost - 2,408,025 shares at December 31, 2017 and 2,401,066 shares at April 2, 2017 (12,231,000) (12,175,000)
Accumulated Deficit (1,890,000) (1,246,000)
Total shareholders' equity 38,745,000 38,923,000
Total Liabilities and Shareholders' Equity $ 55,099,000 $ 47,184,000