Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 29, 2013
Dec. 29, 2012
Current assets:    
Cash and cash equivalents $ 2,659 $ 3,174
Accounts receivable, net of allowance of $50 and $8, respectively 9,337 6,256
Inventories, net of reserves of $149 and $682, respectively 14,040 17,274
Income taxes receivable 511 522
Other current assets 1,301 1,332
Total current assets 27,848 28,558
Property and equipment, net 11,728 12,248
Restricted cash 500 0
Other assets 1,033 973
Deferred income taxes 24 25
Total assets 41,133 [1] 41,804 [1]
Current liabilities:    
Accounts payable 5,912 4,957
Accrued expenses 4,727 4,310
Line of credit 8,058 10,559
Current maturities of long-term obligations 1,204 955
Accrued Income Taxes, Current 91 0
Deferred income tax liabilities 146 146
Total current liabilities 20,138 20,927
Long-term debt obligations, net of current maturities 5,940 6,357
Deferred gain, net of current portion 122 365
Deferred income tax liabilities 921 921
Total liabilities 27,121 [1] 28,570 [1]
Commitments and contingencies      
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,556 shares at both periods 20,636 20,577
Accumulated deficit (7,697) (8,649)
Accumulated other comprehensive loss (426) (290)
Total shareholders' equity 12,513 11,638
Noncontrolling interest 1,499 1,596
Total equity 14,012 13,234
Total liabilities and shareholders' equity $ 41,133 $ 41,804
[1] Assets of ARCA Advanced Processing, LLC (AAP), our consolidated variable interest entity (VIE), that can only be used to settle obligations of AAP were $9,793 and $10,045 as of June 29, 2013, and December 29, 2012, respectively. Liabilities of AAP for which creditors do not have recourse to the general credit of Appliance Recycling Centers of America, Inc. were $2,216 and $1,948 as of June 29, 2013, and December 29, 2012, respectively.See Notes to Consolidated Financial Statements.