Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Oct. 02, 2016
Apr. 03, 2016
Current assets:    
Cash and cash equivalents $ 10,219 $ 7,574
Accounts receivable (net of allowances of $786 at October 2, 2016 and $745 at April 3, 2016):    
Due from factor 15,278 20,125
Other 621 671
Inventories 15,532 14,785
Prepaid expenses 1,045 1,689
Deferred income taxes 888
Total current assets 42,695 45,732
Property, plant and equipment - at cost:    
Vehicles 247 247
Leasehold improvements 242 239
Machinery and equipment 3,028 2,879
Furniture and fixtures 808 808
Property, plant and equipment - gross 4,325 4,173
Less accumulated depreciation 3,834 3,740
Property, plant and equipment - net 491 433
Finite-lived intangible assets - at cost:    
Customer relationships 5,534 5,534
Other finite-lived intangible assets 3,686 3,686
Finite-lived intangible assets gross 9,220 9,220
Less accumulated amortization 5,715 5,338
Finite-lived intangible assets - net 3,505 3,882
Goodwill 1,126 1,126
Deferred income taxes 1,258 1,049
Other 187 193
Total Assets 49,262 52,415
Current liabilities:    
Accounts payable 4,687 4,640
Accrued wages and benefits 675 1,988
Accrued royalties 1,412 1,172
Dividends payable 802 3,303
Income taxes payable 26 806
Other accrued liabilities 208 276
Total current liabilities 7,810 12,185
Non-current liabilities:    
Reserve for unrecognized tax benefits 578 211
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at October 2, 2016 and April 3, 2016; Issued 12,398,539 shares at October 2, 2016 and 12,251,834 shares at April 3, 2016 124 123
Additional paid-in capital 51,732 50,723
Treasury stock - at cost - 2,368,778 shares at October 2, 2016 and 2,302,191 shares at April 3, 2016 (11,884) (11,228)
Retained Earnings 902 401
Total shareholders' equity 40,874 40,019
Total Liabilities and Shareholders' Equity $ 49,262 $ 52,415