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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 25, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash $ 55 $ 66
Accounts receivable, net 12,296 10,840
Inventories, net 20,182 15,881
Other current assets 2,290 659
Total current assets 34,823 27,446
OTHER ASSETS:    
Goodwill 8,377 2,556
Intangibles, Net 21,153 3,909
Other 4,145 1,839
Total other assets 33,675 8,304
PROPERTY AND EQUIPMENT    
Land and improvements 535 535
Buildings and improvements 7,849 6,175
Machinery and equipment 56,337 52,711
Property and equipment, gross 64,721 59,421
Less - Accumulated depreciation (50,771) (49,263)
Property and equipment, net 13,950 10,158
Total assets 82,448 45,908
CURRENT LIABILITIES:    
Accounts payable 17,127 7,327
Book overdraft 584 699
Accrued compensation 1,270 1,457
Accrued expenses 7,956 7,093
Payable to related party 4,131 3,650
Deferred revenue 170 186
Current maturities of long term debt 600 0
Revolving credit agreement 26,342 21,967
Total current liabilities 58,180 42,379
DEFERRED REVENUE 0 130
LONG TERM DEBT 23,862 0
OTHER LIABILITIES 5,696 4,090
Total liabilities $ 87,738 $ 46,599
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS' (DEFICIT) EQUITY    
15% Convertible preferred stock, $100 par value; authorized 1,200,000 shares; issued and outstanding 1,131,551 shares; liquidation value $113,155 $ 108,256 $ 108,256
Common stock, $1 par value; authorized 35,000,000 shares; issued 9,822,304 shares 9,822 9,822
Additional paid-in capital 27,110 27,110
Accumulated other comprehensive loss (1,722) (1,544)
Accumulated deficit (127,319) (122,898)
Treasury stock, at cost, 1,871,128 shares (21,437) (21,437)
Total stockholders' (deficit) equity (5,290) (691)
Total liabilities and stockholders' (deficit) equity $ 82,448 $ 45,908