Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 02, 2017
Apr. 03, 2016
Current assets:    
Cash and cash equivalents $ 7,892 $ 7,574
Accounts receivable (net of allowances of $775 at April 2, 2017 and $745 at April 3, 2016):    
Due from factor 14,921 20,125
Other 693 671
Inventories 15,821 14,785
Prepaid expenses 1,783 1,689
Deferred income taxes 888
Total current assets 41,110 45,732
Property, plant and equipment - at cost:    
Vehicles 247 247
Leasehold improvements 248 239
Machinery and equipment 2,396 2,879
Furniture and fixtures 789 808
Property, plant and equipment - gross 3,680 4,173
Less accumulated depreciation 3,239 3,740
Property, plant and equipment - net 441 433
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 6,092 5,338
Finite-lived intangible assets - net 3,128 3,882
Goodwill 1,126 1,126
Deferred income taxes 1,240 1,049
Other 139 193
Total Assets 47,184 52,415
Current liabilities:    
Accounts payable 5,149 4,640
Accrued wages and benefits 799 1,988
Accrued royalties 353 1,172
Dividends payable 803 3,303
Income taxes payable 224 806
Other accrued liabilities 245 276
Total current liabilities 7,573 12,185
Non-current liabilities:    
Reserve for unrecognized tax benefits 688 211
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at April 2, 2017 and April 3, 2016; Issued 12,423,539 shares at April 2, 2017 and 12,251,834 shares at April 3, 2016 124 123
Additional paid-in capital 52,220 50,723
Treasury stock - at cost - 2,401,066 shares at April 2, 2017 and 2,302,191 shares at April 3, 2016 (12,175) (11,228)
(Accumulated Deficit) Retained Earnings (1,246) 401
Total shareholders' equity 38,923 40,019
Total Liabilities and Shareholders' Equity $ 47,184 $ 52,415