Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Balance Sheets

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Unaudited Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jan. 01, 2012
Apr. 03, 2011
Current assets:    
Cash and cash equivalents $ 279 $ 205
Accounts receivable (net of allowances of $1,096 at January 1, 2012 and $1,395 at April 3, 2011):    
Due from factor 16,113 17,819
Other 315 834
Inventories 15,540 13,560
Prepaid expenses 2,755 2,360
Assets held for sale 275 275
Deferred income taxes 65 230
Total current assets 35,342 35,283
Property, plant and equipment - at cost:    
Vehicles 133 58
Leasehold improvements 216 215
Machinery and equipment 2,539 2,622
Furniture and fixtures 750 730
Property, plant and equipment - gross 3,638 3,625
Less accumulated depreciation 3,119 3,153
Property, plant and equipment - net 519 472
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 6,691 6,674
Finite-lived intangible assets - gross 12,102 12,085
Less accumulated amortization 6,129 5,290
Finite-lived intangible assets - net 5,973 6,795
Goodwill 1,126 1,126
Deferred income taxes 1,806 1,904
Other 108 122
Total Assets 44,874 45,702
Current liabilities:    
Accounts payable 8,468 5,050
Accrued wages and benefits 635 1,167
Accrued royalties 1,485 1,181
Income taxes currently payable 195 409
Other accrued liabilities 216 212
Current maturities of long-term debt   1,952
Total current liabilities 10,999 9,971
Non-current liabilities:    
Long-term debt   4,336
Shareholders' equity:    
Preferred stock - $0.01 par value per share; Authorized no shares at January 1, 2012 and 1,000,000 shares at April 3, 2011; No shares issued at January 1, 2012 and April 3, 2011 0 0
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at January 1, 2012 and 74,000,000 shares at April 3, 2011; Issued 11,054,772 shares at January 1, 2012 and 10,830,772 shares at April 3, 2011 111 108
Additional paid-in capital 43,262 42,227
Treasury stock - at cost - 1,397,074 shares at January 1, 2012 and 1,248,162 shares at April 3, 2011 (5,096) (4,358)
Accumulated deficit (4,402) (6,582)
Total shareholders' equity 33,875 31,395
Total Liabilities and Shareholders' Equity $ 44,874 $ 45,702