Note 6 - Accounts and Other Receivables, Net

3 Months Ended

Jun. 24, 2012

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE F – ACCOUNTS AND OTHER RECEIVABLES, NET

Accounts and other receivables, net, consist of the following (in thousands):

	June 24, 2012		March 25, 2012
Branded product sales	$	5,377	$	4,246
Franchise and license royalties		3,251		2,093
Other		282		334
		8,910		6,673
Less: allowance for doubtful accounts		169		138
Accounts and other receivables, net	$	8,741	$	6,535

Accounts receivable are due within 30 days and are stated at amounts due from Branded Product Program customers, franchisees, retail licensees and product manufacturers, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are considered past due. The Company does not recognize franchise and license royalties that are not deemed to be realizable. The Company individually reviews each past due account and determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current and expected future ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole.  Based on management’s assessment, the Company provides for estimated uncollectable amounts through a charge to earnings. After the Company has used reasonable collection efforts it writes off accounts receivable through a charge to the allowance for doubtful accounts.

Changes in the Company’s allowance for doubtful accounts for the thirteen-week period ended June 24, 2012 and the fiscal year ended March 25, 2012 are as follows (in thousands):

	June 24, 2012			March 25,  2012
Beginning balance	$	138		$	62
Bad debt expense		24			86
Charges to other accounts		7			-
Accounts written off		(-	)		(10	)
Ending balance	$	169		$	138