|
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
|
Jan. 31, 2014
|
Apr. 30, 2013
|
| ASSETS |
|
|
| Cash and cash equivalents |
$ 250,000 |
$ 1,464,000 |
| Accounts receivable, less allowances of $78 and $35, respectively |
3,090,000 |
2,538,000 |
| Inventories, net |
7,840,000 |
6,238,000 |
| Prepaid expenses |
143,000 |
61,000 |
| Income tax receivable |
|
106,000 |
| Deferred taxes |
744,000 |
689,000 |
| Total current assets |
12,067,000 |
11,096,000 |
| Property and equipment: |
|
|
| Land |
1,737,000 |
1,737,000 |
| Building and improvements |
3,395,000 |
3,395,000 |
| Equipment |
4,109,000 |
3,696,000 |
| Total property and equipment, gross |
9,241,000 |
8,828,000 |
| Accumulated depreciation |
(3,704,000) |
(3,429,000) |
| Total property and equipment, net |
5,537,000 |
5,399,000 |
| Goodwill |
1,942,000 |
1,942,000 |
| Intangible assets, net |
1,534,000 |
1,685,000 |
| Other assets, net |
44,000 |
47,000 |
| Total assets |
21,124,000 |
20,169,000 |
| Accounts payable |
1,281,000 |
1,390,000 |
| Accrued expenses |
1,425,000 |
1,408,000 |
| Income taxes payable |
242,000 |
1,000 |
| Current maturities of long-term debt |
188,000 |
185,000 |
| Total current liabilities |
3,136,000 |
2,984,000 |
| Deferred taxes |
593,000 |
637,000 |
| Long-term debt, less current maturities |
2,478,000 |
2,619,000 |
| Preferred stock, $.01 par value, 5,000,000 shares authorized; issued and outstanding – none |
|
|
| Common stock, $.01 par value, 10,000,000 shares authorized; issued and outstanding – 3,817,068 at January 31, 2014 and 3,897,832 at April 30, 2013 |
40,000 |
40,000 |
| Additional paid-in capital |
11,634,000 |
11,429,000 |
| Treasury stock, at cost; 158,181 shares at January 31, 2014 and 59,414 shares at April 30, 2013 |
(985,000) |
(282,000) |
| Retained earnings |
4,228,000 |
2,742,000 |
| Total stockholders' equity |
14,917,000 |
13,929,000 |
| Total liabilities and stockholders' equity |
$ 21,124,000 |
$ 20,169,000 |