Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Jul. 02, 2011
Current assets:    
Cash and cash equivalents $ 565 $ 656
Accounts receivable, net 73,704 76,821
Inventories, net 180,007 159,209
Income tax receivable 2,678 0
Prepaid expenses and other current assets 4,545 4,059
Deferred income taxes 8,973 2,931
Total current assets 270,472 243,676
Property, plant and equipment, net 39,811 39,756
Goodwill 16,812 16,812
Intangibles, net 6,949 7,405
Other assets 3,834 4,216
Total assets 337,878 311,865
Current liabilities:    
Accounts payable 52,122 55,554
Accrued expenses 15,346 23,708
Income tax payable 0 969
Current portion of long-term debt 3,529 2,799
Total current liabilities 70,997 83,030
Long-term debt, less current maturities 129,085 83,974
Deferred income taxes 3,547 2,877
Other liabilities 219 19
Total liabilities 203,848 169,900
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 59,888 59,750
Retained earnings 86,016 93,277
Accumulated other comprehensive loss (127) (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 134,030 141,965
Total liabilities and shareholders’ equity $ 337,878 $ 311,865