Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Jan. 02, 2016
Current assets:    
Cash and cash equivalents $ 968 $ 1,969
Accounts receivable, net of allowance of $54 and $73, respectively 10,509 11,536
Inventories 16,291 16,733
Income taxes receivable 16 1,126
Other current assets 761 1,350
Total current assets 28,545 32,714
Property and equipment, net 10,116 10,985
Restricted cash 500 500
Other assets 614 663
Deferred income tax assets 2,081 1,984
Total assets (a) 41,856 46,846
Current liabilities:    
Accounts payable 6,143 7,019
Accrued expenses 8,888 8,934
Line of credit 10,333 12,668
Current maturities of long-term obligations 2,093 1,251
Total current liabilities 27,457 29,872
Long-term obligations, less current maturities 2,826 4,573
Other noncurrent liabilities 364 357
Total liabilities (a) 30,647 34,802
Commitments and contingencies
Shareholders' equity:    
Common Stock, no par value; 50,000 shares authorized, 6,655 shares issued and outstanding at December 31, 2016; 10,000 shares authorized, 5,901 shares issued and outstanding at January 2, 2016 22,405 21,466
Accumulated deficit (11,028) (9,577)
Accumulated other comprehensive loss (574) (565)
Total shareholders' equity 10,803 11,324
Noncontrolling interest 406 720
Total equity 11,209 12,044
Total liabilities and shareholders' equity $ 41,856 $ 46,846