Crown Crafts (CRWS) 10-Q 9 Aug 16 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 03, 2016	Jul. 25, 2016
Document Information [Line Items]
Entity Registrant Name	CROWN CRAFTS INC
Entity Central Index Key	25,895
Trading Symbol	crws
Current Fiscal Year End Date	--04-02
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		9,994,933
Document Type	10-Q
Document Period End Date	Jul. 3, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 03, 2016	Apr. 03, 2016
Current assets:
Cash and cash equivalents	$ 12,448	$ 7,574
Accounts receivable (net of allowances of $662 at July 3, 2016 and $745 at April 3, 2016):
Due from factor	12,997	20,125
Other	700	671
Inventories	16,783	14,785
Prepaid expenses	1,406	1,689
Deferred income taxes		888
Total current assets	44,334	45,732
Property, plant and equipment - at cost:
Vehicles	247	247
Leasehold improvements	242	239
Machinery and equipment	2,977	2,879
Furniture and fixtures	808	808
Property, plant and equipment - gross	4,274	4,173
Less accumulated depreciation	3,788	3,740
Property, plant and equipment - net	486	433
Finite-lived intangible assets - at cost:
Customer relationships	5,534	5,534
Other finite-lived intangible assets	3,686	3,686
Finite-lived intangible assets gross	9,220	9,220
Less accumulated amortization	5,527	5,338
Finite-lived intangible assets - net	3,693	3,882
Goodwill	1,126	1,126
Deferred income taxes	1,698	1,049
Other	188	193
Total Assets	51,525	52,415
Current liabilities:
Accounts payable	5,626	4,640
Accrued wages and benefits	2,117	1,988
Accrued royalties	1,470	1,172
Dividends payable	799	3,303
Income taxes payable	221	806
Other accrued liabilities	192	276
Total current liabilities	10,425	12,185
Non-current liabilities:
Reserve for unrecognized tax benefits	528	211
Shareholders' equity:
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at July 3, 2016 and April 3, 2016; Issued 12,318,039 shares at July 3, 2016 and 12,251,834 shares at April 3, 2016	123	123
Additional paid-in capital	51,183	50,723
Treasury stock - at cost - 2,324,498 shares at July 3, 2016 and 2,302,191 shares at April 3, 2016	(11,439)	(11,228)
Retained Earnings	705	401
Total shareholders' equity	40,572	40,019
Total Liabilities and Shareholders' Equity	$ 51,525	$ 52,415

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jul. 03, 2016	Apr. 03, 2016
Allowance for doubtful accounts receivable	$ 662	$ 745
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,318,039	12,251,834
Treasury stock, shares (in shares)	2,324,498	2,302,191

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Net sales	$ 15,599	$ 17,858
Cost of products sold	11,312	13,077
Gross profit	4,287	4,781
Marketing and administrative expenses	2,839	3,261
Income from operations	1,448	1,520
Other income (expense):
Interest expense	(19)	(8)
Interest income	29	15
Foreign exchange gain	31	1
Other - net	1	4
Income before income tax expense	1,490	1,532
Income tax expense	387	605
Net income	$ 1,103	$ 927
Weighted average shares outstanding:
Basic (in shares)	9,979	10,058
Effect of dilutive securities (in shares)	46	50
Diluted (in shares)	10,025	10,108
Earnings per share:
Basic (in dollars per share)	$ 0.11	$ 0.09
Diluted (in dollars per share)	0.11	0.09
Cash dividends declared per share (in dollars per share)	$ 0.08	$ 0.08

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Operating activities:
Net income	$ 1,103	$ 927
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	48	79
Amortization of intangibles	189	182
Deferred income taxes	239	(111)
Reserve for unrecognized tax benefits	40
Stock-based compensation	161	256
Changes in assets and liabilities:
Accounts receivable	7,099	6,091
Inventories	(1,998)	(2,662)
Prepaid expenses	283	279
Other assets	5	(1)
Accounts payable	986	2,988
Accrued liabilities	143	(332)
Net cash provided by operating activities	8,298	7,696
Investing activities:
Capital expenditures for property, plant and equipment	(101)	(56)
Capital expenditures for purchased intangible assets		(123)
Net cash used in investing activities	(101)	(179)
Financing activities:
Purchase of treasury stock	(211)	(360)
Issuance of common stock	191
Excess tax benefit from stock-based compensation		81
Dividends paid	(3,303)	(805)
Net cash used in financing activities	(3,323)	(1,084)
Net increase in cash and cash equivalents	4,874	6,433
Cash and cash equivalents at beginning of period	7,574	1,807
Cash and cash equivalents at end of period	12,448	8,240
Supplemental cash flow information:
Income taxes paid	825	1,174
Interest paid	2	(4)
Noncash financing activities:
Dividends declared but unpaid	(799)	(806)
Compensation paid as common stock	$ 108	$ 140

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1 – Summary of Significant Accounting Policies Basis of Presentation: In the opinion of management, the interim unaudited consolidated financial statements contained herein include all adjustments necessary to present fairly the financial position of the Company as of July 3, 2016 and the results of its operations and cash flows for the periods presented. Such adjustments include normal, recurring accruals, as well as the elimination of all significant intercompany balances and transactions. Operating results for the three-month period ended July 3, 2016 are not necessarily indicative of the results that may be expected by the Company for its fiscal year ending April 2, 2017. For further information, refer to the Company’s consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended April 3, 2016. Reclassifications: Fiscal Year: Use of Estimates: Cash and Cash Equivalents: The Company’s credit facility consists of a revolving line of credit under a financing agreement with The CIT Group/Commercial Services, Inc. (“CIT”), a subsidiary of CIT Group, Inc. The Company classifies a negative balance outstanding under this revolving line of credit as cash, as these amounts are legally owed to the Company and are immediately available to be drawn upon by the Company. There are no compensating balance requirements or other restrictions on the transfer of amounts associated with the Company’s depository accounts. Financial Instruments : Advertising Cost s : Segment and Related Information: Three-Month Periods Ended July 3, 2016 June 28, 2015 Bedding, blankets and accessories $ 10,312 $ 12,270 Bibs, bath and disposable products 5,287 5,588 Total net sales $ 15,599 $ 17,858 Revenue Recognition: Allowances Against Accounts Receivable To reduce the exposure to credit losses and to enhance the predictability of its cash flows, the Company assigns the majority of its trade accounts receivable under factoring agreements with CIT. In the event a factored receivable becomes uncollectible due to creditworthiness, CIT bears the risk of loss. The Company’s management must make estimates of the uncollectibility of its non-factored accounts receivable to evaluate the adequacy of the Company’s allowance for doubtful accounts, which is accomplished by specifically analyzing accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current economic trends and changes in its customers’ payment terms. The Company’s accounts receivable as of July 3, 2016 was $13.7 million, net of allowances of $662,000. Of this amount, $13.0 million was due from CIT under the factoring agreements, and an additional $11.8 million was due from CIT as a negative balance outstanding under the revolving line of credit. The combined amount of $24.8 million represents the maximum loss that the Company could incur if CIT failed completely to perform its obligations under the factoring agreements and the revolving line of credit. Royalty Payments: Depreciation and Amortization: Valuation of Long-Lived Assets and Identifiable Intangible Assets: Patent Costs: Inventory Valuation: The indirect costs allocated to inventory are done so as a percentage of projected annual supplier purchases and can impact the Company’s results of operations as purchase volume fluctuates from quarter to quarter and year to year. The difference between indirect costs incurred and the indirect costs allocated to inventory creates a burden variance, which is generally favorable when actual inventory purchases exceed planned inventory purchases, and is generally unfavorable when actual inventory purchases are lower than planned inventory purchases. While the burden variance can be significant during interim periods, it is generally not material by the end of each fiscal year. The determination of the indirect charges and their allocation to the Company's finished products inventories is complex and requires significant management judgment and estimates. If management made different judgments or utilized different estimates, then differences would result in the valuation of the Company's inventories, the amount and timing of the Company's cost of products sold and the resulting net income for any accounting period. On a periodic basis, management reviews the Company’s inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not reasonably be expected to be sold within the normal operating cycle of the Company's operations. To the extent that any of these conditions is believed to exist or the market value of the inventory expected to be realized in the ordinary course of business is otherwise no longer as great as its carrying value, an allowance against the inventory value is established. To the extent that this allowance is established or increased during an accounting period, an expense is recorded in cost of products sold in the Company's consolidated statements of income. Only when inventory for which an allowance has been established is later sold or is otherwise disposed of is the allowance reduced accordingly. Significant management judgment is required in determining the amount and adequacy of this allowance. In the event that actual results differ from management's estimates or these estimates and judgments are revised in future periods, the Company may not fully realize the carrying value of its inventory or may need to establish additional allowances, either of which could materially impact the Company's financial position and results of operations. Provision for Income Taxes: Management evaluates items of income, deductions and credits reported on the Company’s various federal and state income tax returns filed and recognizes the effect of positions taken on those income tax returns only if those positions are more likely than not to be sustained. The Company applies the provisions of FASB ASC Sub-topic 740-10-25, which requires a minimum recognition threshold that a tax benefit must meet before being recognized in the financial statements. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company’s policy is to accrue interest expense and penalties as appropriate on any estimated unrecognized tax benefits as a charge to interest expense in the Company’s consolidated statements of income. Interest expense or penalties are not accrued with respect to estimated unrecognized tax benefits that are associated with claims for income tax refunds as long as the overpayments are receivable. The Company files income tax returns in the many jurisdictions within which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations for the Company’s filed income tax returns varies by jurisdiction; the tax years open to federal, state or Chinese examination or other adjustment as of July 3, 2016 were the fiscal years ended April 1, 2012, March 31, 2013, March 30, 2014, March 29, 2015 and April 3, 2016, as well as the fiscal year ended April 3, 2011 for California. Earnings Per Share: Recently-Issued Accounting Standards : Revenue from Contracts with Customers (Topic 606) Revenue from Contrac ts with Customers (Topic 606): Deferral of the Effective Date In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes On February 25, 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) On March 30, 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting effective for the first interim period of the fiscal year beginning after December 15, 2016, and early adoption is permitted. Upon adoption, the ASU may be applied prospectively or retrospectively. The Company elected to early-adopt ASU No. 2016-09 effective as of April 4, 2016 using a prospective application. Accordingly, the prior period presented in the accompanying consolidated financial statements has not been adjusted. The provisions of ASU No. 2016-09 that are applicable to the Company and the effect of the adoption of the ASU on the Company’s consolidated financial statements include the following: ● Under previous GAAP, upon the exercise of a stock option or the vesting of non-vested stock, the Company was required to recognize the tax effect of the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes in additional paid-in capital. The provisions of the ASU require the recognition of the excess tax benefit or deficiency as an income tax benefit or expense, respectively, in the Company’s statement of income. The Company’s election to early-adopt the ASU effective as of April 4, 2016 resulted in the recognition of a net excess tax benefit amounting to $199,000 as a reduction to the Company’s reported income tax expense for the three-month period ended July 3, 2016. The effect of the adoption of the ASU on the Company’s future results of operations will depend on such factors as the timing and extent of the exercise of stock options and the vesting of non-vested stock, as well as the closing price per share of the Company’s common stock on the dates of such events. The inherent uncertainty surrounding the details of these factors dictates that the future effects of the adoption of ASU No. 2016-09 on the Company’s results of operations cannot be reasonably estimated. ● Under previous GAAP, excess tax benefits were classified as a financing activity in the Company’s statement of cash flows. The provisions of ASU No. 2016-09 require that excess tax benefits be classified as an operating activity in the Company’s statement of cash flows. The Company’s election to early-adopt ASU No. 2016-09 effective as of April 4, 2016 resulted in the classification of excess tax benefits amounting to $201,000 as cash provided by operating activities during the three-month period ended July 3, 2016. Under previous GAAP, this amount would have been classified as cash provided by financing activities. ● The provisions of ASU No. 2016-09 clarify that cash paid by the Company to taxing authorities on behalf of an employee to reflect the value of shares withheld from the exercise of options or the vesting of non-vested stock to satisfy the income tax withholding obligations arising from such exercise or vesting should be classified as a financing activity in the Company’s statement of cash flows. As this treatment is consistent with the Company’s long-standing practice, the Company’s adoption of ASU No. 2016-09 effective as of April 4, 2016 did not result in a difference in the reported amount of the Company’s cash used in financing activities during the three-month period ended July 3, 2016 as a result of this provision in the ASU. On June 16, 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company has determined that all other ASUs which had become effective as of July 3, 2016, or which will become effective at some future date, are not expected to have a material impact on the Company’s consolidated financial statements.

Note 2 - Goodwill, Customer Rel

Note 2 - Goodwill, Customer Relationships and Other Intangible Assets	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 2 – Goodwill , Customer Relationships and Other Intangible Assets Goodwill: The Company tests the fair value of the goodwill, if any, within its reporting units annually as of the first day of the Company’s fiscal year. An additional interim impairment test is performed during the year whenever an event or change in circumstances occurs that suggests that the fair value of the goodwill of either of the reporting units of the Company has more likely than not (defined as having a likelihood of greater than 50%) fallen below its carrying value. The annual or interim impairment test is performed by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If such qualitative factors so indicate, then the impairment test is continued in a two-step approach. The first step is the estimation of the fair value of each reporting unit to ensure that its fair value exceeds its carrying value. If step one indicates that a potential impairment exists, then the second step is performed to measure the amount of an impairment charge, if any. In the second step, these estimated fair values are used as the hypothetical purchase price for the reporting units, and an allocation of such hypothetical purchase price is made to the identifiable tangible and intangible assets and assigned liabilities of the reporting units. The impairment charge is calculated as the amount, if any, by which the carrying value of the goodwill exceeds the implied amount of goodwill that results from this hypothetical purchase price allocation. The annual impairment test of the fair value of the goodwill of the reporting units of the Company was performed as of April 4, 2016, and the Company concluded that the fair value of the goodwill of the Company’s reporting units substantially exceeded their carrying values as of that date. Other Intangible Assets: consisted primarily of the fair value of identifiable assets acquired in business combinations other than tangible assets and goodwill. The gross amount and accumulated amortization of the Company’s other intangible assets as of July 3, 2016 and April 3, 2016 , the amortization expense for the three-month periods ended July 3, 2016 and June 28, 2015 and the classification of such amortization expense within the accompanying unaudited condensed consolidated statements of income are as follows (in thousands): Amortization Expense Gross Amount Accumulated Amortization Three-Month Periods Ended July 3, April 3, July 3, April 3, July 3, June 28, 2016 2016 2016 2016 2016 2015 Tradename and trademarks $ 1,987 $ 1,987 $ 967 $ 933 $ 34 $ 33 Non-compete covenants 98 98 62 60 2 2 Patents 1,601 1,601 485 458 27 27 Customer relationships 5,534 5,534 4,013 3,887 126 120 Total other intangible assets $ 9,220 $ 9,220 $ 5,527 $ 5,338 $ 189 $ 182 Classification within the accompanying unaudited condensed consolidated statements of income: Cost of products sold $ 2 $ 2 Marketing and administrative expenses 187 180 Total amortization expense $ 189 $ 182

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 3 – Inventories Major classes of inventory were as follows (in thousands): July 3, 2016 April 3, 2016 Raw Materials $ 35 $ 35 Finished Goods 16,748 14,750 Total inventory $ 16,783 $ 14,785

Note 4 - Financing Arrangements

Note 4 - Financing Arrangements	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 4 – Financing Arrangements Factoring Agreement s: CIT bears credit losses with respect to assigned accounts receivable from approved customers that are within approved credit limits, while the Company bears the responsibility for adjustments from customers related to returns, allowances, claims and discounts. CIT may at any time terminate or limit its approval of shipments to a particular customer. If such a termination were to occur, the Company must either assume the credit risk for shipments after the date of such termination or limitation or cease shipments to such customer. Factoring fees, which are included in marketing and administrative expenses in the accompanying unaudited consolidated statements of income, were $94,000 and $116,000 for the three-month periods ended July 3, 2016 and June 28, 2015, respectively. There were no advances from the factor at July 3, 2016 and April 3, 2016. Credit Facility: The financing agreement as in effect prior to December 28, 2015 provided for a monthly fee, which was assessed based on 0.125% of the average unused portion of the $26.0 million revolving line of credit, less any outstanding letters of credit (the “Commitment Fee”). The Commitment Fee was $8,000 for the three months ended June 28, 2015. The financing agreement was amended on December 28, 2015 to eliminate the Commitment Fee. At July 3, 2016 and April 3, 2016, there was no balance owed on the revolving line of credit and there was no letter of credit outstanding. As of July 3, 2016 and April 3, 2016, $20.6 million and $25.6 million, respectively, was available under the revolving line of credit based on the Company’s eligible accounts receivable and inventory balances. The financing agreement for the revolving line of credit contains usual and customary covenants for agreements of that type, including limitations on other indebtedness, liens, transfers of assets, investments and acquisitions, merger or consolidation transactions, transactions with affiliates and changes in or amendments to the organizational documents for the Company and its subsidiaries. The Company was in compliance with these covenants as of July 3, 2016.

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	N ote 5 – Stock-based Compensation The Company has two incentive stock plans, the 2006 Omnibus Incentive Plan (the “2006 Plan”) and the 2014 Omnibus Equity Compensation Plan (the “2014 Plan”). As a result of the approval of the 2014 Plan by the Company’s stockholders at the Company’s 2014 annual meeting, grants may no longer be issued under the 2006 Plan. The Company believes that awards of long-term, equity-based incentive compensation will attract and retain directors, officers and employees of the Company and will encourage these individuals to contribute to the successful performance of the Company, which will lead to the achievement of the Company’s overall goal of increasing stockholder value. Awards granted under the 2014 Plan may be in the form of incentive stock options, non-qualified stock options, shares of restricted or unrestricted stock, stock units, stock appreciation rights or other stock-based awards. Awards may be granted subject to the achievement of performance goals or other conditions, and certain awards may be payable in stock or cash, or a combination of the two. The 2014 Plan is administered by the Compensation Committee of the Company’s Board of Directors (the “Board”), which selects eligible employees, non-employee directors and other individuals to participate in the 2014 Plan and determines the type, amount, duration and other terms of individual awards. Grants under the 2014 Plan are settled primarily through the issuance of new shares of the Company’s common stock, 842,000 shares of which were available for future issuance under the 2014 Plan as of July 3, 2016. Stock-based compensation expense is calculated according to FASB ASC Topic 718, Compensation – Stock Compensation Stock Options: the three-month periods ended July 3, 2016 and June 28, 2015 : Three-Month Period Ended Three-Month Period Ended July 3, 2016 June 28, 2015 Weighted- Average Exercise Price Number of Options Outstanding Weighted- Average Exercise Price Number of Options Outstanding Outstanding at Beginning of Period $ 7.64 305,000 $ 6.83 330,000 Granted 9.60 120,000 8.38 110,000 Exercised 7.64 (25,000 ) - - Outstanding at End of Period 8.22 400,000 7.22 440,000 Exercisable at End of Period 7.45 225,000 6.47 247,500 As of July 3, 2016, the intrinsic value of the outstanding and exercisable stock options was $623,000 and $524,000, respectively. The intrinsic value of the stock options exercised during the three-months ended July 3, 2016 was $45,000. The Company received no cash from the exercise of stock options during the three-month periods ended July 3, 2016. Upon the exercise of stock options, participants may choose to surrender to the Company those shares from the option exercise necessary to satisfy the exercise amount and their income tax withholding obligations that arise from the option exercise. The effect on the cash flow of the Company from these “cashless” option exercises is that the Company remits cash on behalf of the participant to satisfy his or her income tax withholding obligations. The Company used cash of $20,000 to remit the required income tax withholding amounts from “cashless” option exercises during the three-month period ended July 3, 2016. To determine the estimated fair value of stock options granted, the Company uses the Black-Scholes-Merton valuation formula, which is a closed-form model that uses an equation to estimate fair value. The following table sets forth the assumptions used to determine the fair value of the non-qualified stock options which were awarded to certain employees during the three-month periods ended July 3, 2016 and June 28, 2015, which options vest over a two-year period, assuming continued service. Three-Month Periods Ended July 3, 2016 June 28, 2015 Options issued 120,000 110,000 Grant date June 8, 2016 June 12, 2015 Dividend yield 3.33 % 3.82 % Expected volatility 20.00 % 20.00 % Risk free interest rate 0.93 % 1.12 % Contractual term (years) 10.00 10.00 Expected term (years) 3.00 3.00 Forfeiture rate 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 9.60 $ 8.38 Fair value per option $ 0.94 $ 0.77 For the three-month periods ended July 3, 2016 and June 28, 2015, the Company recognized compensation expense associated with stock options as follows (in thousands): Three-Month Period Ended July 3, 2016 Three-Month Period Ended June 28, 2015 Options Granted in Fiscal Year Cost of Products Sold Marketing & Administrative Expenses Total Expense Cost of Products Sold Marketing & Administrative Expenses Total Expense 2014 $ - $ - $ - $ 7 $ 7 $ 14 2015 14 12 26 16 13 29 2016 7 6 13 1 1 2 2017 2 1 3 - - - Total stock option compensation $ 23 $ 19 $ 42 $ 24 $ 21 $ 45 As of July 3, 2016, total unrecognized stock option compensation expense amounted to $149,000, which will be recognized as the underlying stock options vest over a weighted-average period of 11.9 months. The amount of future stock option compensation expense could be affected by any future stock option grants and by the separation from the Company of any individual who has received stock options that are unvested as of such individual’s separation date. Non-vested Stock Granted to Non-Employee Directors: Number of Shares Fair Value per Share Three-Month Period Ended 28,000 $ 8.20 September 27, 2015 28,000 $ 7.97 September 28, 2014 28,000 $ 6.67 September 29, 2013 These shares vest over a two-year period, assuming continued service. The fair value of the non-vested stock granted to the Company’s non-employee directors was based on the closing price of the Company’s common stock on the date of each grant. Non-vested Stock Granted to Employees: With the closing price conditions having been met for these awards, the Board at various times approved amendments to provide for the immediate vesting of all or a portion of several of the grants. The vesting of these awards was accelerated in order to maximize the deductibility of the associated compensation expense by the Company for income tax purposes. Performance Bonus Plan: These individuals may instead be awarded cash, if and to the extent that insufficient shares of common stock are available for issuance from all shareholder-approved, equity-based plans or programs of the Company in effect. The performance bonus plan also imposes individual limits on awards and provides that shares of common stock that may be awarded will vest over a two-year period. Compensation expense associated with performance bonus plan awards are recognized over a three-year period – the fiscal year in which the award is earned, plus the two-year vesting period. In connection with the performance bonus plan, the Company, in respect of fiscal year 2016, awarded 41,205 shares of common stock with a fair value of $7.865 per share during the three-month period ended July 3, 2016. In connection with these awards, the Company recognized compensation expense of $108,000 during fiscal year 2016, and will recognize, on a straight-line basis, $108,000 in compensation expense during each of fiscal years 2017 and 2018. In connection with the performance bonus plan, the Company, in respect of fiscal year 2015, awarded 58,532 shares of common stock with a fair value of $7.18 per share during the three-month period ended June 28, 2015. In connection with these awards, the Company recognized compensation expense of $140,000 during each of fiscal years 2015 and 2016, and will recognize, on a straight-line basis, $140,000 in compensation expense during fiscal year 2017. In connection with the performance bonus plan, the Company, in respect of fiscal year 2014, awarded 188,232 shares of common stock with a fair value of $5.65 per share during the three-month period ended June 29, 2014. In connection with these awards, the Company recognized compensation expense of $354,000 during each of fiscal years 2014, 2015 and 2016. During the three-month period ended June 28, 2015, 94,116 of these shares vested, with such shares having an aggregate value of $735,000. Each of the individuals holding shares that vested surrendered to the Company the number of shares necessary to satisfy the income tax withholding obligations that arose from the vesting of the shares, and the Company remitted $360,000 to the appropriate taxing authorities on behalf of such individuals. For the three-month periods ended July 3, 2016 and June 28, 2015, the Company recognized compensation expense associated with stock grants, which is included in marketing and administrative expenses in the accompanying unaudited condensed consolidated statements of income, as follows (in thousands): Three-Month Period Ended July 3, 2016 Three-Month Period Ended June 28, 2015 Stock Granted in Fiscal Year Employees Non-employee Directors Total Expense Employees Non-employee Directors Total Expense 2011 $ - $ - $ - $ 36 $ - $ 36 2014 - - - - 23 23 2015 - 28 28 89 28 117 2016 35 29 64 35 - 35 2017 27 - 27 - - - Total stock grant compensation $ 62 $ 57 $ 119 $ 160 $ 51 $ 211 As of July 3, 2016, total unrecognized compensation expense related to the Company’s non-vested stock grants amounted to $428,000, which will be recognized over the respective vesting terms associated with each block of non-vested stock indicated above, such grants having an aggregate weighted-average vesting term of 9.7 months. The amount of future compensation expense related to the Company’s non-vested stock grants could be affected by any future non-vested stock grants and by the separation from the Company of any individual who has non-vested stock grants as of such individual’s separation date.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	3 Months Ended
	Jul. 03, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	N ote 6 – Subsequent Event s The Company has evaluated events which have occurred between July 3, 2016 and the date that the accompanying consolidated financial statements were issued, and has determined that there are no other material subsequent events that require disclosure.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 03, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation: In the opinion of management, the interim unaudited consolidated financial statements contained herein include all adjustments necessary to present fairly the financial position of the Company as of July 3, 2016 and the results of its operations and cash flows for the periods presented. Such adjustments include normal, recurring accruals, as well as the elimination of all significant intercompany balances and transactions. Operating results for the three-month period ended July 3, 2016 are not necessarily indicative of the results that may be expected by the Company for its fiscal year ending April 2, 2017. For further information, refer to the Company’s consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended April 3, 2016.
Reclassification, Policy [Policy Text Block]	Reclassifications:
Fiscal Period, Policy [Policy Text Block]	Fiscal Year:
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: The Company’s credit facility consists of a revolving line of credit under a financing agreement with The CIT Group/Commercial Services, Inc. (“CIT”), a subsidiary of CIT Group, Inc. The Company classifies a negative balance outstanding under this revolving line of credit as cash, as these amounts are legally owed to the Company and are immediately available to be drawn upon by the Company. There are no compensating balance requirements or other restrictions on the transfer of amounts associated with the Company’s depository accounts.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments :
Advertising Costs, Policy [Policy Text Block]	Advertising Cost s :
Segment Reporting, Policy [Policy Text Block]	Segment and Related Information: Three-Month Periods Ended July 3, 2016 June 28, 2015 Bedding, blankets and accessories $ 10,312 $ 12,270 Bibs, bath and disposable products 5,287 5,588 Total net sales $ 15,599 $ 17,858
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition:
Receivables, Policy [Policy Text Block]	Allowances Against Accounts Receivable To reduce the exposure to credit losses and to enhance the predictability of its cash flows, the Company assigns the majority of its trade accounts receivable under factoring agreements with CIT. In the event a factored receivable becomes uncollectible due to creditworthiness, CIT bears the risk of loss. The Company’s management must make estimates of the uncollectibility of its non-factored accounts receivable to evaluate the adequacy of the Company’s allowance for doubtful accounts, which is accomplished by specifically analyzing accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current economic trends and changes in its customers’ payment terms. The Company’s accounts receivable as of July 3, 2016 was $13.7 million, net of allowances of $662,000. Of this amount, $13.0 million was due from CIT under the factoring agreements, and an additional $11.8 million was due from CIT as a negative balance outstanding under the revolving line of credit. The combined amount of $24.8 million represents the maximum loss that the Company could incur if CIT failed completely to perform its obligations under the factoring agreements and the revolving line of credit.
Revenue Recognition, Services, Royalty Fees [Policy Text Block]	Royalty Payments:
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation and Amortization:
Goodwill and Intangible Assets, Policy [Policy Text Block]	Valuation of Long-Lived Assets and Identifiable Intangible Assets:
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Patent Costs:
Inventory, Policy [Policy Text Block]	Inventory Valuation: The indirect costs allocated to inventory are done so as a percentage of projected annual supplier purchases and can impact the Company’s results of operations as purchase volume fluctuates from quarter to quarter and year to year. The difference between indirect costs incurred and the indirect costs allocated to inventory creates a burden variance, which is generally favorable when actual inventory purchases exceed planned inventory purchases, and is generally unfavorable when actual inventory purchases are lower than planned inventory purchases. While the burden variance can be significant during interim periods, it is generally not material by the end of each fiscal year. The determination of the indirect charges and their allocation to the Company's finished products inventories is complex and requires significant management judgment and estimates. If management made different judgments or utilized different estimates, then differences would result in the valuation of the Company's inventories, the amount and timing of the Company's cost of products sold and the resulting net income for any accounting period. On a periodic basis, management reviews the Company’s inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not reasonably be expected to be sold within the normal operating cycle of the Company's operations. To the extent that any of these conditions is believed to exist or the market value of the inventory expected to be realized in the ordinary course of business is otherwise no longer as great as its carrying value, an allowance against the inventory value is established. To the extent that this allowance is established or increased during an accounting period, an expense is recorded in cost of products sold in the Company's consolidated statements of income. Only when inventory for which an allowance has been established is later sold or is otherwise disposed of is the allowance reduced accordingly. Significant management judgment is required in determining the amount and adequacy of this allowance. In the event that actual results differ from management's estimates or these estimates and judgments are revised in future periods, the Company may not fully realize the carrying value of its inventory or may need to establish additional allowances, either of which could materially impact the Company's financial position and results of operations.
Income Tax, Policy [Policy Text Block]	Provision for Income Taxes: Management evaluates items of income, deductions and credits reported on the Company’s various federal and state income tax returns filed and recognizes the effect of positions taken on those income tax returns only if those positions are more likely than not to be sustained. The Company applies the provisions of FASB ASC Sub-topic 740-10-25, which requires a minimum recognition threshold that a tax benefit must meet before being recognized in the financial statements. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company’s policy is to accrue interest expense and penalties as appropriate on any estimated unrecognized tax benefits as a charge to interest expense in the Company’s consolidated statements of income. Interest expense or penalties are not accrued with respect to estimated unrecognized tax benefits that are associated with claims for income tax refunds as long as the overpayments are receivable. The Company files income tax returns in the many jurisdictions within which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations for the Company’s filed income tax returns varies by jurisdiction; the tax years open to federal, state or Chinese examination or other adjustment as of July 3, 2016 were the fiscal years ended April 1, 2012, March 31, 2013, March 30, 2014, March 29, 2015 and April 3, 2016, as well as the fiscal year ended April 3, 2011 for California.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share:
New Accounting Pronouncements, Policy [Policy Text Block]	Recently-Issued Accounting Standards : Revenue from Contracts with Customers (Topic 606) Revenue from Contrac ts with Customers (Topic 606): Deferral of the Effective Date In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes On February 25, 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) On March 30, 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting effective for the first interim period of the fiscal year beginning after December 15, 2016, and early adoption is permitted. Upon adoption, the ASU may be applied prospectively or retrospectively. The Company elected to early-adopt ASU No. 2016-09 effective as of April 4, 2016 using a prospective application. Accordingly, the prior period presented in the accompanying consolidated financial statements has not been adjusted. The provisions of ASU No. 2016-09 that are applicable to the Company and the effect of the adoption of the ASU on the Company’s consolidated financial statements include the following: ● Under previous GAAP, upon the exercise of a stock option or the vesting of non-vested stock, the Company was required to recognize the tax effect of the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes in additional paid-in capital. The provisions of the ASU require the recognition of the excess tax benefit or deficiency as an income tax benefit or expense, respectively, in the Company’s statement of income. The Company’s election to early-adopt the ASU effective as of April 4, 2016 resulted in the recognition of a net excess tax benefit amounting to $199,000 as a reduction to the Company’s reported income tax expense for the three-month period ended July 3, 2016. The effect of the adoption of the ASU on the Company’s future results of operations will depend on such factors as the timing and extent of the exercise of stock options and the vesting of non-vested stock, as well as the closing price per share of the Company’s common stock on the dates of such events. The inherent uncertainty surrounding the details of these factors dictates that the future effects of the adoption of ASU No. 2016-09 on the Company’s results of operations cannot be reasonably estimated. ● Under previous GAAP, excess tax benefits were classified as a financing activity in the Company’s statement of cash flows. The provisions of ASU No. 2016-09 require that excess tax benefits be classified as an operating activity in the Company’s statement of cash flows. The Company’s election to early-adopt ASU No. 2016-09 effective as of April 4, 2016 resulted in the classification of excess tax benefits amounting to $201,000 as cash provided by operating activities during the three-month period ended July 3, 2016. Under previous GAAP, this amount would have been classified as cash provided by financing activities. ● The provisions of ASU No. 2016-09 clarify that cash paid by the Company to taxing authorities on behalf of an employee to reflect the value of shares withheld from the exercise of options or the vesting of non-vested stock to satisfy the income tax withholding obligations arising from such exercise or vesting should be classified as a financing activity in the Company’s statement of cash flows. As this treatment is consistent with the Company’s long-standing practice, the Company’s adoption of ASU No. 2016-09 effective as of April 4, 2016 did not result in a difference in the reported amount of the Company’s cash used in financing activities during the three-month period ended July 3, 2016 as a result of this provision in the ASU. On June 16, 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company has determined that all other ASUs which had become effective as of July 3, 2016, or which will become effective at some future date, are not expected to have a material impact on the Company’s consolidated financial statements.

Note 1 - Summary of Significa13

Note 1 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 03, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three-Month Periods Ended July 3, 2016 June 28, 2015 Bedding, blankets and accessories $ 10,312 $ 12,270 Bibs, bath and disposable products 5,287 5,588 Total net sales $ 15,599 $ 17,858

Note 2 - Goodwill, Customer R14

Note 2 - Goodwill, Customer Relationships and Other Intangible Assets (Tables)	3 Months Ended
	Jul. 03, 2016
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Amortization Expense Gross Amount Accumulated Amortization Three-Month Periods Ended July 3, April 3, July 3, April 3, July 3, June 28, 2016 2016 2016 2016 2016 2015 Tradename and trademarks $ 1,987 $ 1,987 $ 967 $ 933 $ 34 $ 33 Non-compete covenants 98 98 62 60 2 2 Patents 1,601 1,601 485 458 27 27 Customer relationships 5,534 5,534 4,013 3,887 126 120 Total other intangible assets $ 9,220 $ 9,220 $ 5,527 $ 5,338 $ 189 $ 182 Classification within the accompanying unaudited condensed consolidated statements of income: Cost of products sold $ 2 $ 2 Marketing and administrative expenses 187 180 Total amortization expense $ 189 $ 182

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Jul. 03, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	July 3, 2016 April 3, 2016 Raw Materials $ 35 $ 35 Finished Goods 16,748 14,750 Total inventory $ 16,783 $ 14,785

Note 5 - Stock-based Compensa16

Note 5 - Stock-based Compensation (Tables)	3 Months Ended
	Jul. 03, 2016
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Three-Month Period Ended Three-Month Period Ended July 3, 2016 June 28, 2015 Weighted- Average Exercise Price Number of Options Outstanding Weighted- Average Exercise Price Number of Options Outstanding Outstanding at Beginning of Period $ 7.64 305,000 $ 6.83 330,000 Granted 9.60 120,000 8.38 110,000 Exercised 7.64 (25,000 ) - - Outstanding at End of Period 8.22 400,000 7.22 440,000 Exercisable at End of Period 7.45 225,000 6.47 247,500
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three-Month Periods Ended July 3, 2016 June 28, 2015 Options issued 120,000 110,000 Grant date June 8, 2016 June 12, 2015 Dividend yield 3.33 % 3.82 % Expected volatility 20.00 % 20.00 % Risk free interest rate 0.93 % 1.12 % Contractual term (years) 10.00 10.00 Expected term (years) 3.00 3.00 Forfeiture rate 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 9.60 $ 8.38 Fair value per option $ 0.94 $ 0.77
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three-Month Period Ended July 3, 2016 Three-Month Period Ended June 28, 2015 Options Granted in Fiscal Year Cost of Products Sold Marketing & Administrative Expenses Total Expense Cost of Products Sold Marketing & Administrative Expenses Total Expense 2014 $ - $ - $ - $ 7 $ 7 $ 14 2015 14 12 26 16 13 29 2016 7 6 13 1 1 2 2017 2 1 3 - - - Total stock option compensation $ 23 $ 19 $ 42 $ 24 $ 21 $ 45
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity [Table Text Block]	Number of Shares Fair Value per Share Three-Month Period Ended 28,000 $ 8.20 September 27, 2015 28,000 $ 7.97 September 28, 2014 28,000 $ 6.67 September 29, 2013
Schedule of Nonvested Share Activity [Table Text Block]	Three-Month Period Ended July 3, 2016 Three-Month Period Ended June 28, 2015 Stock Granted in Fiscal Year Employees Non-employee Directors Total Expense Employees Non-employee Directors Total Expense 2011 $ - $ - $ - $ 36 $ - $ 36 2014 - - - - 23 23 2015 - 28 28 89 28 117 2016 35 29 64 35 - 35 2017 27 - 27 - - - Total stock grant compensation $ 62 $ 57 $ 119 $ 160 $ 51 $ 211

Note 1 - Summary of Significa17

Note 1 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		12 Months Ended
	Jul. 03, 2016USD ($)	Jun. 28, 2015USD ($)	Apr. 03, 2016USD ($)
Collectibility of Receivables [Member]
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure	$ 24,800,000
Cost of Sales [Member]
Direct Operating Cost, Royalty Expense	$ 1,700,000	$ 1,800,000
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Finite-Lived Intangible Asset, Useful Life	5 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	8 years
Finite-Lived Intangible Asset, Useful Life	20 years
Reclassification from Current Deferred Income Tax Assets to Noncurrent Deferred Income Tax Assets [Member]
Current Period Reclassification Adjustment	$ 886,000
New Accounting Pronouncement, Early Adoption, Effect [Member] | Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	199,000
Net Cash Provided by (Used in) Operating Activities	201,000
Advertising Expense	255,000	305,000
Number of Operating Segments			1
Accounts Receivable, Net, Current	13,700,000
Allowance for Doubtful Accounts Receivable, Current	662,000
Due From Factor	12,997,000		$ 20,125,000
Line of Credit Facility, Negative Balance Outstanding	11,800,000
Income Tax Expense (Benefit)	387,000	605,000
Net Cash Provided by (Used in) Operating Activities	$ 8,298,000	$ 7,696,000

Note 1 - Segment and Related In

Note 1 - Segment and Related Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Bedding, Blankets, And Accessories [Member]
Net sales	$ 10,312	$ 12,270
Bibs, Bath, And Disposable Products [Member]
Net sales	5,287	5,588
Net sales	$ 15,599	$ 17,858

Note 2 - Goodwill, Customer R19

Note 2 - Goodwill, Customer Relationships and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	Jul. 03, 2016	Apr. 03, 2016
Goodwill, Gross	$ 24,000	$ 24,000
Goodwill, Impaired, Accumulated Impairment Loss	22,900	22,900
Goodwill	$ 1,126	$ 1,126

Note 2 - Other Intangible Asset

Note 2 - Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015	Apr. 03, 2016
Trademarks and Trade Names [Member]
Finite-lived intangible assets, gross amount	$ 1,987		$ 1,987
Finite-lived intangible assets, accumulated amortization	967		933
Amortization expense	34	$ 33
Noncompete Agreements [Member]
Finite-lived intangible assets, gross amount	98		98
Finite-lived intangible assets, accumulated amortization	62		60
Amortization expense	2	2
Patents [Member]
Finite-lived intangible assets, gross amount	1,601		1,601
Finite-lived intangible assets, accumulated amortization	485		458
Amortization expense	27	27
Customer Relationships [Member]
Finite-lived intangible assets, gross amount	5,534		5,534
Finite-lived intangible assets, accumulated amortization	4,013		3,887
Amortization expense	126	120
Cost of Sales [Member]
Amortization expense	2	2
Selling, General and Administrative Expenses [Member]
Amortization expense	187	180
Finite-lived intangible assets, gross amount	9,220		9,220
Finite-lived intangible assets, accumulated amortization	5,527		$ 5,338
Amortization expense	$ 189	$ 182

Note 3 - Components of Inventor

Note 3 - Components of Inventories (Details) - USD ($) $ in Thousands	Jul. 03, 2016	Apr. 03, 2016
Raw Materials	$ 35	$ 35
Finished Goods	16,748	14,750
Total inventory	$ 16,783	$ 14,785

Note 4 - Financing Arrangemen22

Note 4 - Financing Arrangements (Details Textual) - USD ($)	3 Months Ended			12 Months Ended
	Jul. 03, 2016	Jul. 03, 2016	Jun. 28, 2015	Apr. 03, 2016
Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument Basis Spread Below Variable Rate		0.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
Revolving Credit Facility [Member]
Long-term Line of Credit	$ 0	$ 0		$ 0
Letters of Credit Outstanding, Amount	0	0		0
Line of Credit Facility, Maximum Borrowing Capacity	26,000,000	26,000,000
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	1,500,000	1,500,000
Factoring Fees [Member]
Selling, General and Administrative Expense		$ 94,000	$ 116,000
Advances On Factoring Agreements	0			0
Selling, General and Administrative Expense	2,839,000		3,261,000
Daily Cash Balance, Interest Rate, Stated Percentage		1.25%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.125%
Line of Credit Facility, Commitment Fee Amount			$ 8,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 20,600,000	$ 20,600,000		$ 25,600,000

Note 5 - Stock-based Compensa23

Note 5 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended				12 Months Ended
	Jul. 03, 2016	Jun. 28, 2015	Jun. 29, 2014	Jun. 27, 2010	Apr. 01, 2018	Apr. 02, 2017	Apr. 03, 2016	Mar. 29, 2015	Mar. 29, 2015	Mar. 29, 2014
The 2014 Omnibus Equity Compensation Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	842,000
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 42,000	$ 45,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 149,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	357 days
Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Restricted Stock [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	291 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				345,000
Share Base Compensation Arrangement by Share Based Payment Award Equity Instrument Other Than Options Grants in Period Total Grant Date Fair Value				$ 1,200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 428,000
Performance Shares [Member] | Awards Granted During 3 Month Period Ended July 03, 2016 [Member] | Scenario, Forecast [Member]
Allocated Share-based Compensation Expense					$ 108,000	$ 108,000
Performance Shares [Member] | Awards Granted During 3 Month Period Ended July 03, 2016 [Member]
Allocated Share-based Compensation Expense							$ 108,000
Performance Shares [Member] | Awards Granted During 3 Month Period Ended June 28, 2015 [Member] | Scenario, Forecast [Member]
Allocated Share-based Compensation Expense						$ 140,000
Performance Shares [Member] | Awards Granted During 3 Month Period Ended June 28, 2015 [Member]
Allocated Share-based Compensation Expense							140,000		$ 140,000
Performance Shares [Member] | Awards Granted During 3 Month Period Ended June 29, 2014 [Member]
Allocated Share-based Compensation Expense							$ 354,000	$ 354,000		$ 354,000
Performance Shares [Member]
Payments Related to Tax Withholding for Share-based Compensation		$ 360,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	41,205	58,532	188,232
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.865	$ 7.18	$ 5.65
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		94,116
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested		$ 735,000
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0
Allocated Share-based Compensation Expense	161,000	$ 256,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	623,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	524,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	45,000
Proceeds from Stock Options Exercised	0
Payments Related to Tax Withholding for Share-based Compensation	$ 20,000

Note 5 - Stock Option Activity

Note 5 - Stock Option Activity (Details) - $ / shares	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Outstanding at Beginning of Period (in dollars per share)	$ 7.64	$ 6.83
Outstanding at Beginning of Period (in shares)	305,000	330,000
Granted (in dollars per share)	$ 9.60	$ 8.38
Granted (in shares)	120,000	110,000
Exercised (in dollars per share)	$ 7.64
Exercised (in shares)	(25,000)
Outstanding at End of Period (in dollars per share)	$ 8.22	$ 7.22
Outstanding at End of Period (in shares)	400,000	440,000
Exercisable at End of Period (in dollars per share)	$ 7.45	$ 6.47
Exercisable at End of Period (in shares)	225,000	247,500

Note 5 - Estimated Fair Value o

Note 5 - Estimated Fair Value of Stock Options Assumptions (Details) - $ / shares	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Options issued (in shares)	120,000	110,000
Grant date	Jun. 8, 2016	Jun. 12, 2015
Dividend yield	3.33%	3.82%
Expected volatility	20.00%	20.00%
Risk free interest rate	0.93%	1.12%
Contractual term (years)	10 years	10 years
Expected term (years)	3 years	3 years
Forfeiture rate	5.00%	5.00%
Exercise price (grant-date closing price) per option (in dollars per share)	$ 9.60	$ 8.38
Fair value per option (in dollars per share)	$ 0.94	$ 0.77

Note 5 - Stock Option Compensat

Note 5 - Stock Option Compensation (Details) - USD ($)	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Employee Stock Option [Member] | Fiscal Year 2014 [Member] | Cost of Sales [Member]
Allocated Share Based Compensation Expense		$ 7,000
Employee Stock Option [Member] | Fiscal Year 2014 [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share Based Compensation Expense		7,000
Employee Stock Option [Member] | Fiscal Year 2014 [Member]
Allocated Share Based Compensation Expense		14,000
Employee Stock Option [Member] | Fiscal Year 2015 [Member] | Cost of Sales [Member]
Allocated Share Based Compensation Expense	14,000	16,000
Employee Stock Option [Member] | Fiscal Year 2015 [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share Based Compensation Expense	12,000	13,000
Employee Stock Option [Member] | Fiscal Year 2015 [Member]
Allocated Share Based Compensation Expense	26,000	29,000
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Cost of Sales [Member]
Allocated Share Based Compensation Expense	7,000	1,000
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share Based Compensation Expense	6,000	1,000
Employee Stock Option [Member] | Fiscal Year 2016 [Member]
Allocated Share Based Compensation Expense	13,000	2,000
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Cost of Sales [Member]
Allocated Share Based Compensation Expense	2,000
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share Based Compensation Expense	1,000
Employee Stock Option [Member] | Fiscal Year 2017 [Member]
Allocated Share Based Compensation Expense	3,000
Employee Stock Option [Member] | Cost of Sales [Member]
Allocated Share Based Compensation Expense	23,000	24,000
Employee Stock Option [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share Based Compensation Expense	19,000	21,000
Employee Stock Option [Member]
Allocated Share Based Compensation Expense	42,000	45,000
Allocated Share Based Compensation Expense	$ 161,000	$ 256,000

Note 5 - Non-vested Stock to Di

Note 5 - Non-vested Stock to Directors (Details) - Non Employee Directors [Member]	3 Months Ended
	Jul. 03, 2016$ / sharesshares
September 27, 2015 [Member]
Number of Shares (in shares) | shares	28,000
Fair Value Per Share (in dollars per share) | $ / shares	$ 8.20
September 28, 2014 [Member]
Number of Shares (in shares) | shares	28,000
Fair Value Per Share (in dollars per share) | $ / shares	$ 7.97
September 29, 2013 [Member]
Number of Shares (in shares) | shares	28,000
Fair Value Per Share (in dollars per share) | $ / shares	$ 6.67

Note 5 - Compensaiton Expense A

Note 5 - Compensaiton Expense Associated with Non-vested Stock Grants (Details) - USD ($)	3 Months Ended
	Jul. 03, 2016	Jun. 28, 2015
Non-vested Stock Grants [Member] | Fiscal Year 2011 [Member] | Selling, General and Administrative Expenses [Member] | Employee [Member]
Allocated share-based compensation		$ 36,000
Non-vested Stock Grants [Member] | Fiscal Year 2011 [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation		36,000
Non-vested Stock Grants [Member] | Fiscal Year 2014 [Member] | Selling, General and Administrative Expenses [Member] | Non Employee Directors [Member]
Allocated share-based compensation		23,000
Non-vested Stock Grants [Member] | Fiscal Year 2014 [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation		23,000
Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | Selling, General and Administrative Expenses [Member] | Employee [Member]
Allocated share-based compensation		89,000
Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | Selling, General and Administrative Expenses [Member] | Non Employee Directors [Member]
Allocated share-based compensation	$ 28,000	28,000
Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation	28,000	117,000
Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member] | Employee [Member]
Allocated share-based compensation	35,000	35,000
Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member] | Non Employee Directors [Member]
Allocated share-based compensation	29,000
Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation	64,000	35,000
Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Selling, General and Administrative Expenses [Member] | Employee [Member]
Allocated share-based compensation	27,000
Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation	27,000
Non-vested Stock Grants [Member] | Selling, General and Administrative Expenses [Member] | Employee [Member]
Allocated share-based compensation	62,000	160,000
Non-vested Stock Grants [Member] | Selling, General and Administrative Expenses [Member] | Non Employee Directors [Member]
Allocated share-based compensation	57,000	51,000
Non-vested Stock Grants [Member] | Selling, General and Administrative Expenses [Member]
Allocated share-based compensation	119,000	211,000
Allocated share-based compensation	$ 161,000	$ 256,000