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
Sep. 27, 2015
Mar. 29, 2015
Current assets:    
Cash and cash equivalents $ 6,139 $ 1,807
Accounts receivable (net of allowances of $1,226 at September 27, 2015 and $1,000 at March 29, 2015):    
Due from factor 15,960 21,563
Other 1,958 807
Inventories 17,564 15,468
Prepaid expenses 1,185 1,906
Deferred income taxes 769 968
Total current assets 43,575 42,519
Property, plant and equipment - at cost:    
Vehicles 242 235
Leasehold improvements 233 230
Machinery and equipment 2,893 2,836
Furniture and fixtures 797 755
Property, plant and equipment - gross 4,165 4,056
Less accumulated depreciation 3,647 3,528
Property, plant and equipment - net 518 528
Finite-lived intangible assets - at cost:    
Customer relationships 5,534 5,411
Other finite-lived intangible assets 3,686 7,613
Finite-lived intangible assets gross 9,220 13,024
Less accumulated amortization 4,961 8,517
Finite-lived intangible assets - net 4,259 4,507
Goodwill 1,126 1,126
Deferred income taxes 926 1,133
Other 157 133
Total Assets 50,561 49,946
Current liabilities:    
Accounts payable 6,381 4,472
Accrued wages and benefits 1,119 2,265
Accrued royalties 2,017 1,581
Dividends payable 799 805
Income taxes currently payable 26 1,021
Other accrued liabilities 197 230
Total current liabilities $ 10,539 $ 10,374
Commitments and contingencies
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at September 27, 2015 and March 29, 2015; Issued 12,139,334 shares at September 27, 2015 and 12,030,302 shares at March 29, 2015 $ 121 $ 120
Additional paid-in capital 49,590 48,561
Treasury stock - at cost - 2,147,987 shares at September 27, 2015 and 1,964,886 shares at March 29, 2015 (9,857) (8,390)
Retained Earnings (Accumulated deficit) 168 (719)
Total shareholders' equity 40,022 39,572
Total Liabilities and Shareholders' Equity $ 50,561 $ 49,946