Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Apr. 01, 2018
Apr. 02, 2017
Current assets:    
Cash and cash equivalents $ 215,000 $ 7,892,000
Accounts receivable (net of allowances of $565 at April 1, 2018 and $775 at April 2, 2017):    
Due from factor 15,447,000 14,921,000
Other 3,051,000 693,000
Inventories 19,788,000 15,821,000
Prepaid expenses 1,253,000 1,783,000
Total current assets 39,754,000 41,110,000
Property, plant and equipment - at cost:    
Vehicles 268,000 247,000
Leasehold improvements 272,000 248,000
Machinery and equipment 4,010,000 2,396,000
Furniture and fixtures 799,000 789,000
Property, plant and equipment - gross 5,349,000 3,680,000
Less accumulated depreciation 3,571,000 3,239,000
Property, plant and equipment - net 1,778,000 441,000
Finite-lived intangible assets - at cost:    
Tradename and trademarks 3,667,000 1,987,000
Customer relationships 7,374,000 5,534,000
Other finite-lived intangible assets 3,159,000 1,699,000
Finite-lived intangible assets gross 14,200,000 9,220,000
Less accumulated amortization 6,928,000 6,092,000
Finite-lived intangible assets - net 7,272,000 3,128,000
Goodwill, Ending Balance 7,125,000 1,126,000
Deferred income taxes 532,000 1,240,000
Other 120,000 139,000
Total Assets 56,581,000 47,184,000
Current liabilities:    
Accounts payable 3,766,000 5,149,000
Accrued wages and benefits 842,000 799,000
Accrued royalties 793,000 353,000
Dividends payable 807,000 803,000
Income taxes payable 40,000 224,000
Other accrued liabilities 540,000 245,000
Total current liabilities 6,788,000 7,573,000
Non-current liabilities:    
Long-term debt 9,458,000
Reserve for unrecognized tax liabilities 1,017,000 688,000
Total non-current liabilities 10,475,000 688,000
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at April 1, 2018 and April 2, 2017; Issued 12,493,789 shares at April 1, 2018 and 12,423,539 shares at April 2, 2017 125,000 124,000
Additional paid-in capital 52,874,000 52,220,000
Treasury stock - at cost - 2,408,025 shares at April 1, 2018 and 2,401,066 shares at April 2, 2017 (12,231,000) (12,175,000)
Accumulated Deficit (1,450,000) (1,246,000)
Total shareholders' equity 39,318,000 38,923,000
Total Liabilities and Shareholders' Equity $ 56,581,000 $ 47,184,000