Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 04, 2015
Jan. 03, 2015
Statement of Financial Position [Abstract]    
Other Liabilities, Noncurrent $ 246 $ 369
Current assets:    
Cash and cash equivalents 3,641 3,523
Accounts receivable, net of allowance of $104 and $106, respectively 11,115 10,954
Inventories 15,569 16,113
Income taxes receivable 869 709
Other current assets 1,226 1,096
Deferred income tax assets 2,107 2,082
Total current assets 34,527 34,477
Property and equipment, net 11,361 11,761
Other assets 750 708
Deferred income tax assets 14 14
Total assets 46,652 46,960
Current liabilities:    
Accounts payable 8,261 6,380
Accrued expenses 7,890 8,133
Line of credit 9,104 9,237
Current maturities of long-term obligations 2,254 1,138
Total current liabilities 27,509 24,888
Long-term obligations, less current maturities 3,872 5,118
Deferred income tax liabilities 1,048 1,048
Total liabilities $ 32,675 $ 31,423
Commitments and contingencies    
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,800 shares and 5,788 shares, respectively $ 21,209 $ 21,137
Accumulated deficit (7,958) (6,860)
Accumulated other comprehensive loss (808) (675)
Total shareholders’ equity 12,443 13,602
Noncontrolling interest 1,534 1,935
Total equity 13,977 15,537
Total liabilities and shareholders’ equity $ 46,652 $ 46,960