Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.6
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Jul. 02, 2011
Current assets:    
Cash and cash equivalents $ 355 $ 656
Accounts receivable, net 51,389 76,821
Inventories, net 182,917 159,209
Income tax receivable 6,736 0
Prepaid expenses and other current assets 4,869 4,059
Deferred income taxes 4,810 2,931
Total current assets 251,076 243,676
Property, plant and equipment, net 39,427 39,756
Goodwill 16,812 16,812
Intangibles, net 7,101 7,405
Other assets 3,912 4,216
Total assets 318,328 311,865
Current liabilities:    
Accounts payable 46,508 55,554
Accrued expenses 15,634 23,708
Income tax payable 0 969
Current portion of long-term debt 3,286 2,799
Total current liabilities 65,428 83,030
Long-term debt, less current maturities 117,222 83,974
Deferred income taxes 3,583 2,877
Other liabilities 147 19
Total liabilities 186,380 169,900
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 8,450,125 and 8,421,863 shares outstanding as of December 31, 2011 and July 2, 2011, respectively 96 96
Additional paid-in capital 59,681 59,750
Retained earnings 84,095 93,277
Accumulated other comprehensive loss (81) (14)
Treasury stock —1,196,847 and 1,225,109 shares as of December 31, 2011 and July 2, 2011, respectively (11,843) (11,144)
Total shareholders’ equity 131,948 141,965
Total liabilities and shareholders’ equity $ 318,328 $ 311,865