RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS (Tables)

6 Months Ended

Mar. 29, 2013

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Schedule Of Net Income Previously Reported and Restated Reconciliation [Table Text Block]

The summary impact of the restatement adjustments on the Company’s previously reported unaudited consolidated net income for the three months and six months ended March 30, 2012 follows:

	Three months ended			Six months ended
	March 30,			March 30,
	2012			2012
Net Income - Previously reported	$	2,607		$	3,556
Work-in-process inventory adjustments, net of tax		(109	)		(290	)
Net Income - Restated	$	2,498		$	3,266

Restatement To Prior Year Balance Sheet [Table Text Block]

The impact of the restatement on the previously issued Consolidated Balance Sheets and Consolidated Statements of Income and Cash Flows for the three months and six months then ended follows:

	Consolidated Balance Sheet
	September 30, 2012
	As reported			Adjustment			Restated
				(in thousands)
ASSETS
Current assets:
Cash	$	2,662		$	-		$	2,662
Accounts receivable, net of allowance		23,193			-			23,193
Inventories, net		19,348			(1,651	)		17,697
Deferred income taxes		1,365			-			1,365
Other current assets		401			-			401
Total current assets		46,969			(1,651	)		45,318
Fixed assets, net		17,120			-			17,120
Intangible assets, net		5,511			-			5,511
Goodwill		13,810			-			13,810
Deferred income taxes		5,433			585			6,018
Other assets		121			-			121
Total assets	$	88,964		$	(1,066	)	$	87,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	6,533		$	-		$	6,533
Account payable		15,697			-			15,697
Accrued payroll and related expenses		2,676			-			2,676
Other accrued expenses		946			-			946
Customer deposits		146			-			146
Total current liabilities		25,998			-			25,998
Long-term debt		21,104			-			21,104
Total liabilities		47,102			-			47,102
STOCKHOLDERS' EQUITY		-			-			-
500,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value:
Authorized: 50,000,000 shares
Issued: 10,943,185 and 10,839,997 shares, respectively
Outstanding: 9,927,727 and 9,824,539 shares, respectively		109			-			109
Additional paid-in capital		43,075			-			43,075
Accumulated income (deficit)		113			(1,066	)		(953	)
Treasury stock, at cost: 1,015,458 shares		(1,435	)		-			(1,435	)
Total stockholders' equity		41,862			(1,066	)		40,796
Total liabilities and stockholders' equity	$	88,964		$	(1,066	)	$	87,697

Restatement to Prior Year Income [Table Text Block]

	Consolidated Income Statements
	Three months ended							Six months ended
	March 30, 2012							March 30, 2012
	As reported		Adjustment			Restated		As reported			Adjustment			Restated
	(in thousands)
Net sales	$	38,020	$	-		$	38,020	$	71,878		$	-		$	71,878
Cost of sales		29,764		173			29,937		58,136			461			58,597
Gross profit		8,256		(173	)		8,083		13,742			(461	)		13,281
Selling and administrative expenses		3,770		-			3,770		8,307			-			8,307
Operating profit		4,486		(173	)		4,313		5,435			(461	)		4,974
Interest and financing expense		292		-			292		644			-			644
Other (income)/expense		58		-			58		(849	)		-			(849	)
Income before provision for income taxes		4,136		(173	)		3,963		5,640			(461	)		5,179
Provision for income taxes		1,529		(64	)		1,465		2,084			(171	)		1,913
Net income	$	2,607	$	(109	)	$	2,498	$	3,556		$	(290	)	$	3,266
Net income per common and common equivalent share:
Basic	$	0.27	$	(0.01	)	$	0.26	$	0.37		$	(0.03	)	$	0.34
Diluted		0.26		(0.01	)		0.25		0.36			(0.03	)		0.33
Weighted average number of common and common equivalent shares outstanding:
Basic		9,666,920					9,666,920		9,656,431						9,656,431
Diluted		10,038,406					10,038,406		9,951,727						9,951,727

Restatement To Prior Year Cash Flow [Table Text Block]

	Consolidated Statement of Cash Flow
	Six months ended
	March 30, 2012
	As reported			Adjustment			Restated
	(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	3,556		$	(290	)	$	3,266
Non-cash adjustments:
Stock-based compensation		245			-			245
Depreciation and amortization		2,070			-			2,070
Change in contingent consideration		(871	)		-			(871	)
Directors' fees paid in stock		22			-			22
(Gain)/loss on sale of fixed assets		4			-			4
Reserve for doubtful accounts		125			-			125
Deferred tax expense		2,084			(171	)		1,913
Changes in current assets and liabilities:
Accounts receivable		(1,681	)		-			(1,681	)
Inventories		(2,912	)		461			(2,451	)
Other current assets		(9	)		-			(9	)
Accounts payable		3,553			-			3,553
Accrued expenses		(515	)		-			(515	)
Customer deposits		(66	)		-			(66	)
Net cash flows from operating activities		5,605			-			5,605
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets		(1,698	)		-			(1,698	)
Proceeds from (net cost of) disposal of fixed assets		18			-			18
Net cash flows from investing activities		(1,680	)		-			(1,680	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from revolving credit facility		29,622			-			29,622
Repayments of revolving credit facility		(30,081	)		-			(30,081	)
Borrowings under other loan agreements		-			-			-
Repayments under loan agreements and notes		(3,492	)		-			(3,492	)
Proceeds from exercise of stock options		9			-			9
Proceeds from employee stock plan purchases		17			-			17
Net cash flows from financing activities		(3,925	)		-			(3,925	)
Net cash flows for the period		-			-			-
Cash and cash equivalents, beginning of period		-			-			-
Cash and cash equivalents, end of period	$	-		$	-		$	-
Supplemental cash flow information:
Interest paid	$	604		$	-		$	604
Income taxes paid		74			-			74