Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 28, 2014
Dec. 28, 2013
Current assets:    
Cash and cash equivalents $ 2,534 $ 1,948
Accounts receivable, net of allowance of $43 and $27, respectively 11,839 12,278
Inventories, net of reserves of $227 and $175, respectively 17,345 16,654
Income taxes receivable 111 82
Other current assets 782 622
Deferred income tax assets 523 523
Total current assets 33,134 32,107
Property and equipment, net 11,718 11,424
Restricted cash 0 500
Other assets 840 927
Deferred income tax assets 21 21
Total assets 45,713 44,979
Current liabilities:    
Accounts payable 6,415 5,880
Accrued expenses 3,970 4,806
Line of credit 8,371 9,661
Current maturities of long-term obligations 1,196 1,131
Income taxes payable 270 0
Total current liabilities 20,222 21,478
Long-term obligations, less current maturities 5,592 5,447
Deferred income tax liabilities 1,092 1,092
Total liabilities 26,906 28,017
Commitments and contingencies      
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,581 shares and 5,571 shares, respectively 21,010 20,846
Accumulated deficit (3,768) (5,331)
Accumulated other comprehensive loss (475) (464)
Total shareholders’ equity 16,767 15,051
Noncontrolling interest 2,040 1,911
Total equity 18,807 16,962
Total liabilities and shareholders’ equity $ 45,713 $ 44,979