Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Mar. 31, 2013
Current assets:    
Cash and cash equivalents $ 2,890 $ 340
Accounts receivable (net of allowances of $411 at June 30, 2013 and $349 at March 31, 2013):    
Due from factor 14,577 21,431
Other 319 293
Inventories 15,117 10,930
Prepaid expenses 1,999 2,073
Deferred income taxes 169 160
Total current assets 35,071 35,227
Property, plant and equipment - at cost:    
Vehicles 193 193
Land, buildings and leasehold improvements 216 216
Machinery and equipment 2,675 2,656
Furniture and fixtures 743 743
Property, plant and equipment - gross 3,827 3,808
Less accumulated depreciation 3,146 3,070
Property, plant and equipment - net 681 738
Finite-lived intangible assets - at cost:    
Customer relationships 5,411 5,411
Other finite-lived intangible assets 7,613 7,643
Finite-lived intangible assets - gross 13,024 13,054
Less accumulated amortization 7,201 7,064
Finite-lived intangible assets - net 5,823 5,990
Goodwill 1,126 1,126
Deferred income taxes 995 1,005
Other 77 77
Total Assets 43,773 44,163
Current liabilities:    
Accounts payable 6,459 7,376
Accrued wages and benefits 1,550 1,375
Accrued royalties 1,385 971
Dividends payable 786 786
Income taxes currently payable 505 710
Other accrued liabilities 104 133
Total current liabilities 10,789 11,351
Commitments and contingencies      
Shareholders' equity:    
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 30, 2013 and March 31, 2013; Issued 11,706,022 shares at June 30, 2013 and 11,696,022 shares at March 31, 2013 117 117
Additional paid-in capital 46,410 46,219
Treasury stock - at cost - 1,877,192 shares at June 30, 2013 and 1,868,003 shares at March 31, 2013 (7,745) (7,690)
Accumulated deficit (5,798) (5,834)
Total shareholders' equity 32,984 32,812
Total Liabilities and Shareholders' Equity $ 43,773 $ 44,163