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
Sep. 27, 2014
Dec. 28, 2013
Current assets:    
Cash and cash equivalents $ 2,883 $ 1,948
Accounts receivable, net of allowance of $43 and $27, respectively 11,681 12,278
Inventories, net of reserves of $227 and $175, respectively 16,520 16,654
Income taxes receivable 107 82
Other current assets 1,368 622
Deferred income tax assets 523 523
Total current assets 33,082 32,107
Property and equipment, net 11,485 11,424
Restricted cash 0 500
Other assets 791 927
Deferred income tax assets 20 21
Total assets 45,378 44,979
Current liabilities:    
Accounts payable 6,765 5,880
Accrued expenses 3,939 4,806
Line of credit 7,584 9,661
Current maturities of long-term obligations 1,154 1,131
Income taxes payable 145 0
Total current liabilities 19,587 21,478
Long-term obligations, less current maturities 5,357 5,447
Deferred income tax liabilities 1,092 1,092
Total liabilities 26,036 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 21,132 20,846
Accumulated deficit (3,212) (5,331)
Accumulated other comprehensive loss (567) (464)
Total shareholders’ equity 17,353 15,051
Noncontrolling interest 1,989 1,911
Total equity 19,342 16,962
Total liabilities and shareholders’ equity $ 45,378 $ 44,979