Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 02, 2016
Jan. 03, 2015
Current assets:    
Cash and cash equivalents $ 1,969 $ 3,523
Accounts receivable, net of allowance of $27 and $8, respectively 11,536 10,954
Inventories, net of reserves of $175 and $682, respectively 16,733 16,113
Income taxes receivable 1,126 709
Other current assets 1,350 1,096
Deferred income tax assets 1,657 2,082
Total current assets 34,371 34,477
Property and equipment, net 10,985 11,761
Restricted cash 500 0
Other assets 663 708
Deferred income tax assets 327 14
Total assets 46,846 46,960
Current liabilities:    
Accounts payable 7,019 6,380
Accrued expenses 8,934 8,133
Line of credit 12,668 9,237
Current maturities of long-term obligations 1,251 1,138
Total current liabilities 29,872 24,888
Long-term obligations, less current maturities 4,573 5,118
Other liabilities 357 369
Deferred tax income liabilities 0 1,048
Total liabilities $ 34,802 $ 31,423
Commitments and contingencies
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,571 shares and 5,556 shares, respectively $ 21,466 $ 21,137
Accumulated deficit (9,577) (6,860)
Accumulated other comprehensive loss (565) (675)
Total shareholders' equity 11,324 13,602
Noncontrolling interest 720 1,935
Total equity 12,044 15,537
Total liabilities and shareholders' equity $ 46,846 $ 46,960