RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS (Tables)

9 Months Ended

Jun. 28, 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 nine months ended June 29, 2012 follows:

	Three months ended		Nine months ended
	June 29,		June 29,
	2012		2012
Net Income - Previously reported	$	2,203	$	5,759
Work-in-process inventory adjustments, net of tax		(360)		(651)
Net Income - Restated	$	1,843	$	5,108

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 nine months 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
Accounts 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 shares
Outstanding: 9,927,727 shares		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)	$	87,898

Restatement to Prior Year Income [Table Text Block]

	Consolidated Income Statements
	Three months ended						Nine months ended
	June 29, 2012						June 29, 2012
	As reported		Adjustment		Restated		As reported		Adjustment		Restated
	(in thousands)
Net sales	$	36,022	$	-	$	36,022	$	107,900	$	-	$	107,900
Cost of sales		28,607		563		29,170		86,743		1,024		87,767
Gross profit		7,415		(563)		6,852		21,157		(1,024)		20,133
Selling and administrative expenses		3,879		-		3,879		12,185		-		12,185
Operating profit		3,536		(563)		2,973		8,972		(1,024)		7,948
Interest and financing expense		285		-		285		930		-		930
Other (income)/expense		(201)		-		(201)		(1,050)		-		(1,050)
Income before provision for income taxes		3,452		(563)		2,889		9,092		(1,024)		8,068
Provision for income taxes		1,249		(203)		1,046		3,333		(373)		2,960
Net income	$	2,203	$	(360)	$	1,843	$	5,759	$	(651)	$	5,108
Net income per common and common equivalent share:
Basic	$	0.23	$	(0.04)	$	0.19	$	0.60	$	(0.07)	$	0.53
Diluted		0.22		(0.04)		0.18		0.58		(0.07)		0.51
Weighted average number of common and common equivalent shares outstanding:
Basic		9,682,423				9,682,423		9,665,095				9,665,095
Diluted		10,008,393				10,008,393		9,931,172				9,931,172

Restatement To Prior Year Cash Flow [Table Text Block]

	Consolidated Statement of Cash Flow
	Nine months ended
	June 29, 2012
	As reported		Adjustment		Restated
	(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	5,759	$	(651)	$	5,108
Non-cash adjustments:
Stock-based compensation		372		-		372
Depreciation and amortization		3,178		-		3,178
Change in contingent consideration		1,096		-		1,096
Directors' fees paid in stock		32		-		32
(Gain)/loss on sale of fixed assets		14		-		14
Reserve for doubtful accounts		133		-		133
Deferred tax expense		3,333		(374)		2,959
Changes in current assets and liabilities:
Accounts receivable		(3,388)		-		(3,388)
Inventories		(3,473)		1,025		(2,448)
Other current assets		(235)		-		(235)
Accounts payable		721		-		721
Accrued expenses		(487)		-		(487)
Customer deposits		(132)		-		(132)
Net cash flows from operating activities		6,923		-		6,923
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets		(2,492)		-		(2,492)
Proceeds from (net cost of) disposal of fixed assets		46		-		46
Net cash flows from investing activities		(2,446)		-		(2,446)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from revolving credit facility		48,488		-		48,488
Repayments of revolving credit facility		(47,915)		-		(47,915)
Borrowings under other loan agreements		-		-		-
Repayments under loan agreements and notes		(5,160)		-		(5,160)
Proceeds from exercise of stock options		46		-		46
Proceeds from employee stock plan purchases		64		-		64
Net cash flows from financing activities		(4,477)		-		(4,477)
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	$	859	$	-	$	859
Income taxes paid		229		-		229