Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Oct. 03, 2015
Jan. 03, 2015
Current assets:    
Cash and cash equivalents $ 3,364 $ 3,523
Accounts receivable, net of allowance of $65 and $106, respectively 11,773 10,954
Inventories 16,278 16,113
Income taxes receivable 1,405 709
Other current assets 905 1,096
Deferred income tax assets 1,889 2,082
Total current assets 35,614 34,477
Property and equipment, net 11,125 11,761
Restricted Cash and Cash Equivalents 500 0
Other assets 708 708
Deferred income tax assets 3 14
Total assets 47,950 46,960
Current liabilities:    
Accounts payable 7,670 6,380
Accrued expenses 7,561 8,133
Line of credit 12,407 9,237
Current maturities of long-term obligations 2,363 1,138
Total current liabilities 30,001 24,888
Long-term obligations, less current maturities 3,649 5,118
Other Liabilities, Noncurrent 270 369
Deferred income tax liabilities 1,048 1,048
Total liabilities $ 34,968 $ 31,423
Commitments and contingencies
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,900 shares and 5,788 shares, respectively $ 21,426 $ 21,137
Accumulated deficit (8,731) (6,860)
Accumulated other comprehensive loss (874) (675)
Total shareholders’ equity 11,821 13,602
Noncontrolling interest 1,161 1,935
Total equity 12,982 15,537
Total liabilities and shareholders’ equity $ 47,950 $ 46,960