Note 6 - Accounts and Other Receivables, Net

6 Months Ended

Sep. 29, 2013

Receivables [Abstract]

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):

	September 29, 2013		March 31, 2013
Branded product sales	$	5,602	$	4,071
Franchise and license royalties		1,928		2,355
Insurance receivable		745		301
Advance to advertising fund		591		-
Other		574		320
		9,440		7,047
Less: allowance for doubtful accounts		444		130
Accounts and other receivables, net	$	8,996	$	6,917

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 twenty-six-week period ended September 29, 2013 and the fiscal year ended March 31, 2013 are as follows (in thousands):     

	September 29, 2013			March 31, 2013
Beginning balance	$	130		$	138
Bad debt expense		13			15
Uncollectible marketing fund contributions		301			5
Accounts written off		(-	)		(28	)
Ending balance	$	444		$	130