Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets (USD $)
Oct. 01, 2011
Jul. 02, 2011
Current assets:    
Cash and cash equivalents $ 323,000 $ 656,000
Accounts receivable, net 66,777,000 76,821,000
Inventories, net 186,326,000 159,209,000
Prepaid expenses and other current assets 4,392,000 4,059,000
Deferred income taxes 2,838,000 2,931,000
Total current assets 260,656,000 243,676,000
Property, plant and equipment, net 39,396,000 39,756,000
Goodwill 16,812,000 16,812,000
Intangibles, net 7,253,000 7,405,000
Other assets 3,994,000 4,216,000
Total assets 328,111,000 311,865,000
Current liabilities:    
Accounts payable 53,161,000 55,554,000
Accrued expenses 20,057,000 23,708,000
Income tax payable 55,000 969,000
Current portion of long-term debt 3,042,000 2,799,000
Total current liabilities 76,315,000 83,030,000
Long-term debt, less current maturities 102,291,000 83,974,000
Deferred income taxes 3,307,000 2,877,000
Other liabilities 235,000 19,000
Total liabilities 182,148,000 169,900,000
Commitments and contingencies 0 0
Shareholders’ equity:    
Preferred stock—$0.01 par value, 2,000,000 shares authorized, none issued and outstanding    
Common stock —$0.01 par value, 15,000,000 shares authorized, 9,646,972 shares issued, and 8,491,787 and 8,421,863 shares outstanding as of October 1, 2011 and July 2, 2011, respectively 96,000 96,000
Additional paid-in capital 59,408,000 59,750,000
Retained earnings 97,687,000 93,277,000
Accumulated other comprehensive loss (134,000) (14,000)
Treasury stock —1,155,185 and 1,225,109 shares as of October 1, 2011 and July 2, 2011, respectively (11,094,000) (11,144,000)
Total shareholders’ equity 145,963,000 141,965,000
Total liabilities and shareholders’ equity $ 328,111,000 $ 311,865,000