Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.3.1.900
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Dec. 27, 2015
Mar. 29, 2015
Current assets:    
Cash and cash equivalents $ 7,549 $ 1,807
Accounts receivable (net of allowances of $1,137 at December 27, 2015 and $1,000 at March 29, 2015):    
Due from factor 17,505 21,563
Other 681 807
Inventories 17,513 15,468
Prepaid expenses 2,427 1,906
Deferred income taxes 735 $ 968
Income taxes receivable 553
Total current assets 46,963 $ 42,519
Property, plant and equipment - at cost:    
Vehicles 247 235
Leasehold improvements 233 230
Machinery and equipment 2,897 2,836
Furniture and fixtures 811 755
Property, plant and equipment - gross 4,188 4,056
Less accumulated depreciation 3,695 3,528
Property, plant and equipment - net 493 528
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 5,149 8,517
Finite-lived intangible assets - net 4,071 4,507
Goodwill 1,126 1,126
Deferred income taxes 962 1,133
Other 185 133
Total Assets 53,800 49,946
Current liabilities:    
Accounts payable 6,959 4,472
Accrued wages and benefits 1,337 2,265
Accrued royalties 2,184 1,581
Dividends payable 800 805
Income taxes payable 605 1,021
Other accrued liabilities 214 230
Total current liabilities 12,099 $ 10,374
Non-current liabilities:    
Reserve for unrecognized tax benefits $ 140
Commitments and contingencies
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at December 27, 2015 and March 29, 2015; Issued 12,171,834 shares at December 27, 2015 and 12,030,302 shares at March 29, 2015 $ 122 $ 120
Additional paid-in capital 50,010 48,561
Treasury stock - at cost - 2,175,307 shares at December 27, 2015 and 1,964,886 shares at March 29, 2015 (10,082) (8,390)
Retained Earnings (Accumulated deficit) 1,511 (719)
Total shareholders' equity 41,561 39,572
Total Liabilities and Shareholders' Equity $ 53,800 $ 49,946