Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Apr. 01, 2018 | May 10, 2018 | Sep. 29, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | CROWN CRAFTS INC | ||
Entity Central Index Key | 25,895 | ||
Trading Symbol | crws | ||
Current Fiscal Year End Date | --04-01 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 10,069,558 | ||
Entity Public Float | $ 55.5 | ||
Document Type | 10-K | ||
Document Period End Date | Apr. 1, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Apr. 01, 2018 | Apr. 02, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 215,000 | $ 7,892,000 |
Accounts receivable (net of allowances of $565 at April 1, 2018 and $775 at April 2, 2017): | ||
Due from factor | 15,447,000 | 14,921,000 |
Other | 3,051,000 | 693,000 |
Inventories | 19,788,000 | 15,821,000 |
Prepaid expenses | 1,253,000 | 1,783,000 |
Total current assets | 39,754,000 | 41,110,000 |
Property, plant and equipment - at cost: | ||
Vehicles | 268,000 | 247,000 |
Leasehold improvements | 272,000 | 248,000 |
Machinery and equipment | 4,010,000 | 2,396,000 |
Furniture and fixtures | 799,000 | 789,000 |
Property, plant and equipment - gross | 5,349,000 | 3,680,000 |
Less accumulated depreciation | 3,571,000 | 3,239,000 |
Property, plant and equipment - net | 1,778,000 | 441,000 |
Finite-lived intangible assets - at cost: | ||
Tradename and trademarks | 3,667,000 | 1,987,000 |
Customer relationships | 7,374,000 | 5,534,000 |
Other finite-lived intangible assets | 3,159,000 | 1,699,000 |
Finite-lived intangible assets gross | 14,200,000 | 9,220,000 |
Less accumulated amortization | 6,928,000 | 6,092,000 |
Finite-lived intangible assets - net | 7,272,000 | 3,128,000 |
Goodwill, Ending Balance | 7,125,000 | 1,126,000 |
Deferred income taxes | 532,000 | 1,240,000 |
Other | 120,000 | 139,000 |
Total Assets | 56,581,000 | 47,184,000 |
Current liabilities: | ||
Accounts payable | 3,766,000 | 5,149,000 |
Accrued wages and benefits | 842,000 | 799,000 |
Accrued royalties | 793,000 | 353,000 |
Dividends payable | 807,000 | 803,000 |
Income taxes payable | 40,000 | 224,000 |
Other accrued liabilities | 540,000 | 245,000 |
Total current liabilities | 6,788,000 | 7,573,000 |
Non-current liabilities: | ||
Long-term debt | 9,458,000 | |
Reserve for unrecognized tax liabilities | 1,017,000 | 688,000 |
Total non-current liabilities | 10,475,000 | 688,000 |
Shareholders' equity: | ||
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at April 1, 2018 and April 2, 2017; Issued 12,493,789 shares at April 1, 2018 and 12,423,539 shares at April 2, 2017 | 125,000 | 124,000 |
Additional paid-in capital | 52,874,000 | 52,220,000 |
Treasury stock - at cost - 2,408,025 shares at April 1, 2018 and 2,401,066 shares at April 2, 2017 | (12,231,000) | (12,175,000) |
Accumulated Deficit | (1,450,000) | (1,246,000) |
Total shareholders' equity | 39,318,000 | 38,923,000 |
Total Liabilities and Shareholders' Equity | $ 56,581,000 | $ 47,184,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Apr. 01, 2018 | Apr. 02, 2017 |
Allowance for doubtful accounts receivable | $ 565 | $ 775 |
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) | 12,493,789 | 12,423,539 |
Treasury stock, shares (in shares) | 2,408,025 | 2,401,066 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Net sales | $ 70,270 | $ 65,978 | $ 84,342 |
Cost of products sold | 50,491 | 46,567 | 60,529 |
Gross profit | 19,779 | 19,411 | 23,813 |
Marketing and administrative expenses | 14,272 | 10,711 | 13,025 |
Income from operations | 5,507 | 8,700 | 10,788 |
Other income (expense): | |||
Interest expense | (162) | (68) | (58) |
Interest income | 79 | 134 | 69 |
Foreign exchange (loss) gain | (3) | 26 | (62) |
Other - net | 4 | 7 | |
Income before income tax expense | 5,421 | 8,796 | 10,744 |
Income tax expense | 2,400 | 3,224 | 3,915 |
Net income | $ 3,021 | $ 5,572 | $ 6,829 |
Weighted average shares outstanding: | |||
Basic (in shares) | 10,072 | 10,013 | 10,017 |
Effect of dilutive securities (in shares) | 7 | 28 | 21 |
Diluted (in shares) | 10,079 | 10,041 | 10,038 |
Earnings per share: | |||
Basic (in dollars per share) | $ 0.30 | $ 0.56 | $ 0.68 |
Diluted (in dollars per share) | 0.30 | 0.55 | 0.68 |
Cash dividends declared per share (in dollars per share) | $ 0.32 | $ 0.72 | $ 0.57 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Mar. 29, 2015 | 12,030,302 | (1,964,886) | |||
Balances at Mar. 29, 2015 | $ 120 | $ (8,390) | $ 48,561 | $ (719) | $ 39,572 |
Issuance of shares (in shares) | 221,532 | ||||
Issuance of shares | $ 3 | 983 | 986 | ||
Stock-based compensation | 906 | 906 | |||
Net tax effect of stock-based compensation | 273 | $ 273 | |||
Acquisition of treasury stock (in shares) | (337,305) | (337,000) | |||
Acquisition of treasury stock | $ (2,838) | $ (2,838) | |||
Net income | 6,829 | 6,829 | |||
Dividends declared on common stock | (5,709) | (5,709) | |||
Balances (in shares) at Apr. 03, 2016 | 12,251,834 | (2,302,191) | |||
Balances at Apr. 03, 2016 | $ 123 | $ (11,228) | 50,723 | 401 | 40,019 |
Issuance of shares (in shares) | 171,705 | ||||
Issuance of shares | $ 1 | 893 | 894 | ||
Stock-based compensation | 604 | $ 604 | |||
Acquisition of treasury stock (in shares) | (98,875) | (99,000) | |||
Acquisition of treasury stock | $ (947) | $ (947) | |||
Net income | 5,572 | 5,572 | |||
Dividends declared on common stock | (7,219) | (7,219) | |||
Balances (in shares) at Apr. 02, 2017 | 12,423,539 | (2,401,066) | |||
Balances at Apr. 02, 2017 | $ 124 | $ (12,175) | 52,220 | (1,246) | 38,923 |
Issuance of shares (in shares) | 70,250 | ||||
Issuance of shares | $ 1 | 115 | 116 | ||
Stock-based compensation | 539 | $ 539 | |||
Acquisition of treasury stock (in shares) | (6,959) | (7,000) | |||
Acquisition of treasury stock | $ (56) | $ (56) | |||
Net income | 3,021 | 3,021 | |||
Dividends declared on common stock | (3,225) | (3,225) | |||
Balances (in shares) at Apr. 01, 2018 | 12,493,789 | (2,408,025) | |||
Balances at Apr. 01, 2018 | $ 125 | $ (12,231) | $ 52,874 | $ (1,450) | $ 39,318 |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Retained Earnings [Member] | |||
Dividends declared, per share (in dollars per share) | $ 0.32 | $ 0.72 | $ 0.57 |
Dividends declared, per share (in dollars per share) | $ 0.32 | $ 0.72 | $ 0.57 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Operating activities: | |||
Net income | $ 3,021 | $ 5,572 | $ 6,829 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation of property, plant and equipment | 333 | 178 | 310 |
Amortization of intangibles | 836 | 754 | 748 |
Deferred income taxes | 708 | 697 | 165 |
Loss (gain) on sale of property, plant and equipment | 2 | 5 | (15) |
Reserve for unrecognized tax benefits | 329 | 199 | 211 |
Stock-based compensation | 539 | 604 | 906 |
Tax shortfall from stock-based compensation | (5) | ||
Changes in assets and liabilities: | |||
Accounts receivable | (2,884) | 5,182 | 1,575 |
Inventories | 297 | (1,036) | 683 |
Prepaid expenses | 655 | (94) | 217 |
Other assets | 19 | 54 | (60) |
Accounts payable | (1,702) | 509 | 168 |
Accrued liabilities | 300 | (2,235) | (716) |
Net cash provided by operating activities | 2,453 | 10,389 | 11,016 |
Investing activities: | |||
Capital expenditures for property, plant and equipment | (221) | (191) | (232) |
Proceeds from sale of property, plant and equipment | 31 | ||
Payment for acquisitions, net of liabilities assumed | (15,245) | (123) | |
Net cash used in investing activities | (15,466) | (191) | (324) |
Financing activities: | |||
Repayments under revolving line of credit | (15,913) | ||
Borrowings under revolving line of credit | 25,371 | ||
Purchase of treasury stock | (56) | (947) | (2,838) |
Issuance of common stock | 786 | 846 | |
Excess tax benefit from stock-based compensation | 278 | ||
Payments on capital leases | (845) | ||
Dividends paid | (3,221) | (9,719) | (3,211) |
Net cash provided by (used in) financing activities | 5,336 | (9,880) | (4,925) |
Net (decrease) increase in cash and cash equivalents | (7,677) | 318 | 5,767 |
Cash and cash equivalents at beginning of period | 7,892 | 7,574 | 1,807 |
Cash and cash equivalents at end of period | 215 | 7,892 | 7,574 |
Supplemental cash flow information: | |||
Income taxes paid | 1,671 | 3,037 | 4,107 |
Interest paid | 67 | 2 | 56 |
Noncash financing activities: | |||
Dividends declared but unpaid | (807) | (803) | (3,303) |
Compensation paid as common stock | $ 116 | $ 108 | $ 140 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II CROWN CRAFTS, INC. AND SUBSIDIARIES ANNUAL REPORT ON FORM 10 Valuation and Qualifying Accounts Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Expenses Deductions Balance at End of Period (in thousands) Accounts Receivable Valuation Accounts: Year Ended April 3, 2016 Allowance for customer deductions $ 1,000 $ 3,495 $ 3,750 $ 745 Year Ended April 2 , 201 7 Allowance for customer deductions $ 745 $ 3,695 $ 3,665 $ 775 Year Ended April 1 , 201 8 Allowance for customer deductions $ 775 $ 3,749 $ 3,959 $ 565 Allowance for doubtful accounts $ 0 $ 218 $ 218 $ 0 |
Note 1- Description of Business
Note 1- Description of Business | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Crown Crafts, Inc. (the “Company”) operates indirectly through its wholly-owned subsidiaries, Hamco, Inc. (“Hamco”), Carousel Designs, LLC (“Carousel”) and Crown Crafts Infant Products, Inc. (“CCIP”), in the infant, toddler and juvenile products segment within the consumer products industry. The infant, toddler and juvenile products segment consists of infant and toddler bedding and blankets, bibs, soft bath products, disposable products, developmental toys and accessories. Sales of the Company’s products are generally made directly to retailers, which are primarily mass merchants, mid-tier retailers, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, wholesale clubs and internet-based retailers, as well as directly to consumers through www.babybedding.com |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Basis of Presentation: Reclassifications: None Fiscal Year: March 31. 2018” “2018” 52 April 1, 2018, 2017” “2017” 52 April 2, 2017 2016” “2016” 53 April 3, 2016. Use of Estimates: Cash and Cash Equivalents: three Financial Instruments Segments and Related Information: one 2018, 2017 2016 2018 2017 2016 Bedding, blankets and accessories $ 43,486 $ 42,381 $ 59,020 Bibs, bath, developmental toy, feeding, baby care and disposable products 26,784 23,597 25,322 Total net sales $ 70,270 $ 65,978 $ 84,342 Other Accrued Liabilities: $540,000 April 1, 2018. $292,000 April 1, 2018 $8,000 $22,000. two Revenue Recognition: Allowances Against Accounts Receivable: To reduce its exposure to credit losses, 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 uncollectiblity of its non-factored accounts receivable, which it accomplishes by specifically analyzing accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current economic trends and changes in its customers’ payment terms. On September 18, 2017, 11 11 March 14, 2018, As described below in Note 3 2018 $218,000. not 2017 2016. The Company’s accounts receivable at April 1, 2018 $18.5 $565,000. $15.4 Inventory Valuation: first first The determination of the indirect charges and their allocation to the Company's finished goods 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 and in the amount and timing of the Company's cost of products sold and the resulting net income for the reporting period. On a periodic basis, management reviews its inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not no may not may Depreciation and Amortization : three eight five twenty Valuation of Long-Lived Assets and Identifiable Intangible A s sets : may not Patent Costs: Purchase Price Allocations and the Resulting Goodwill: The amount of goodwill recorded in a business combination can vary significantly depending upon the values attributed to the assets acquired and liabilities assumed. Although goodwill has no not first not one If, after assessing the totality of events or circumstances described above, the Company determines that it is more likely than not two two may not two Advertising Costs: $1.3 $742,000 $931,000 2018, 2017 2016, Provision for Income Taxes: The Company files income tax returns in the many jurisdictions in which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations varies by jurisdiction; tax years open to federal or state audit or other adjustment as of April 1, 2018 April 1, 2018, April 2, 2017, April 3, 2016, March 29, 2015, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. The Company’s policy is to recognize the effect that a change in enacted tax rates would have on net deferred income tax assets and liabilities in the period in which the tax rates are changed. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company’s policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The Company has recognized the effect of the TCJA on the Company’s net deferred income tax assets, which as of October 2, 2017 April 2, 2017 37.5% 24.5%, $377,000 2018. 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 740 10 25, 50% During fiscal year 2016, not 2018 2017 $113,000 $134,000, 2016, $773,000, $573,000 $200,000. 21% $120,000 2018. 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. During fiscal years 2018, 2017 2016, $96,000, $65,000 $11,000, No In December 2016, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. one not Royalty Payments: $7.2 $7.0 $9.0 2018, 2017 2016, Earnings Per Share: Recently Issued Accounting Standards: May 28, 2014, No. 2014 09, Revenue from Contracts wit h Customers (Topic 606 No. 2014 09 December 15, 2016, August 12, 2015 No. 2015 14, Revenue from Contracts with Customers (Topic 606 one No. 2014 09. not No. 2014 09, No. 2015 14 first December 15, 2016. ASU No. 2014 09 No. 2014 09 April 2, 2018 No. 2014 09 not No. 2014 09 On July 22, 2015, No. 2015 11, Inventory (Topic 330 first December 15, 2016. No. 2015 11 April 3, 2017, not On February 25, 2016, No. 2016 02, Leases (Topic 842 No. 2016 02, first December 15, 2018. No. 2016 02 On June 16, 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 not No. 2016 13 first December 15, 2019. may first December 15, 2018. not No. 2016 13, not No. 2016 13 On January 26, 2017, No. 2017 04 , Intangibles – Goodwill and Other (Topic 350 first not two first one second second The intent of ASU No. 2017 04 second not first December 15, 2019, first January 1, 2017. No. 2017 04 April 3, 2017, not The Company has determined that all other ASU’s issued which had become effective as of May 10, 2018, not |
Note 3 - Financing Arrangements
Note 3 - Financing Arrangements | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 3 - Financing Arrangements Master Stand-by Claims Purchase Agreements: May 16, 2017, September 20, 2018 1.65% $1.8 September 18, 2017, 11 11 $866,000 $755,000 April 1, 2018 2018, $480,000 On September 19, 2017, 11 7 March 31, 2018 1.50% $1.8 March 14, 2018, Pursuant to the terms of the Second Agreement, the liquidation filing allowed the Company to exercise its right to sell to Chase the claim under the Second Agreement that arose as a result of the liquidation filing, which amounted to $1.8 April 1, 2018 2018, $173,000 Factoring Agreement s : may may $223,000, $395,000 $556,000 2018, 2017 2016, no April 2, 2017 April 3, 2016. Credit Facility: April 1, 2018 $26.0 $1.5 0.5% 2.0%. July 11, 2019 first April 1, 2018, 3.67% April 1, 2018. 2.0%, 2.75% April 1, 2018, The financing agreement as in effect prior to December 28, 2015 0.125% $25,000 2016. December 28, 2015 April 1, 2018, $9.5 2020. no $13.2 April 2, 2017, no no $21.4 The financing agreement 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 believes it was in compliance with these covenants as of April 1, 2018. |
Note 4 - Acquisitions
Note 4 - Acquisitions | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 4 – Acquisitions Carousel: August 4, 2017, August 11, 2017, The Company anticipates that certain synergies, including administrative and capital efficiencies, may $8.7 $347,000 2018, The Carousel Acquisition has been accounted for in accordance with FASB ASC Topic 805, Business Combinations. third not The following table represents the Company’s allocation of the acquisition cost (in thousands) to the identifiable assets acquired and the liabilities assumed based on their respective estimated fair values as of the acquisition date. The excess of the acquisition cost over the estimated fair value of the identifiable net assets acquired is reflected as goodwill. Tangible assets: Inventory $ 967 Prepaid expenses 5 Fixed assets 1,068 Total tangible assets 2,040 Amortizable intangible assets: Tradename 1,100 Developed technology 1,100 Non-compete covenants 360 Total amortizable intangible assets 2,560 Goodwill 5,679 Total acquired assets 10,279 Liabilities assumed: Accounts payable 319 Accrued wages and benefits 59 Unearned revenue 271 Other accrued liabilities 60 Capital leases 845 Total liabilities assumed 1,554 Net acquisition cost $ 8,725 During the purchase price measurement period, the Company recorded an adjustment to decrease amortizable intangible assets acquired by $300,000 12 may $5.7 In connection with the Carousel Acquisition, Carousel paid off capital leases amounting to $845,000 $5.4 2018. $183,000 2018, 15 10 5 11 Sassy: December 15, 2017, 14, may $6.5 $169,000 2018, The Sassy Acquisition has been accounted for in accordance with FASB ASC Topic 805, Business Combinations. third not The following table represents the Company’s preliminary allocation of the acquisition cost (in thousands) to the identifiable assets acquired and the liabilities assumed based on their respective estimated fair values as of the acquisition date. The excess of the acquisition cost over the estimated fair value of the identifiable net assets acquired is reflected as goodwill. Tangible assets: Inventory $ 3,297 Prepaid expenses 120 Fixed assets 383 Total tangible assets 3,800 Amortizable intangible assets: Tradename 580 Customer relationships 1,840 Total amortizable intangible assets 2,420 Goodwill 320 Total acquired assets 6,540 Liabilities assumed: Accrued wages 20 Net acquisition cost $ 6,520 The Company expects to complete the acquisition cost allocation during the 12 may Based upon the preliminary allocation of the acquisition cost, the Company has recognized $320,000 The Sassy Acquisition resulted in net sales of $2.1 2018. $56,000 2018, 15 10 11 |
Note 5 - Retirement Plan
Note 5 - Retirement Plan | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 5 The Company sponsors a defined contribution retirement savings plan with a cash or deferred arrangement (the “401 401 401 may 401 2015, 100% first 2% 50% 1% 401 2018, 2017 2016, 100% first 2% 50% 3% 401 401 $223,000, $252,000 $203,000 2018, 2017 2016, |
Note 6 - Goodwill, Customer Rel
Note 6 - Goodwill, Customer Relationships and Other Intangible Assets | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 – Goodwill, Customer Relationships and Other Intangible Assets Goodwill: two one April 2, 2017 $24.0 $5.7 $320,000 April 1, 2018, $30.0 $22.9 $7.1 Effective as of April 3, 2017, No. 2017 04, first not 50% first not not On April 3, 2017, not Other Intangible Assets: April 1, 2018 April 2, 2017 April 1, 2018 April 2, 2017, 2018, 2017 2016 Gross Amount Accumulated Amortization Amortization Expense Fiscal Year Ended April 1, April 2, April 1, April 2, April 1, April 2, April 3, 2018 2017 2018 2017 2018 2017 2016 Tradename and trademarks $ 3,667 $ 1,987 $ 1,270 $ 1,066 $ 204 $ 133 $ 132 Developed technology 1,100 - 73 - 73 - - Non-compete covenants 458 98 122 67 55 7 7 Patents 1,601 1,601 673 565 108 107 108 Customer relationships 7,374 5,534 4,790 4,394 396 507 501 Total other intangible assets $ 14,200 $ 9,220 $ 6,928 $ 6,092 $ 836 $ 754 $ 748 Classification within the accompanying consolidated statements of income: Cost of products sold $ 7 $ 7 $ 7 Marketing and administrative expenses 829 747 741 Total amortization expense $ 836 $ 754 $ 748 The Company estimates that its amortization expense will be $854,000, $854,000, $790,000, $765,000 $689,000 2019, 2020, 2021, 2022 2023, |
Note 7 - Inventories
Note 7 - Inventories | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 7 – Inventories Major classes of inventory were as follows (in thousands): April 1, 2018 April 2, 2017 Raw Materials $ 875 $ 42 Work in Process 134 - Finished Goods 18,779 15,779 Total inventory $ 19,788 $ 15,821 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 8 – Stoc k-based Compensation The Company has two 2006 “2006 2014 “2014 2014 2014 may no 2006 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 may may may 2014 2014 not ten 10 April 1, 2018, 672,000 2014 Stock-based compensation is calculated according to FASB ASC Topic 718, Compensation – Stock Compensation 2018, 2017 2016, $539,000, $604,000 $906,000 No April 1, 2018. St ock Options: 2018, 2017 2016: Fiscal Year Ended April 1, 2018 Fiscal Year Ended April 2, 2017 Fiscal Year Ended April 3, 2016 Weighted- Weighted- Weighted- Average Number of Average Number of Average Number of Exercise Options Exercise Options Exercise Options Price Outstanding Price Outstanding Price Outstanding Outstanding at Beginning of Period $ 8.35 322,500 $ 7.64 305,000 $ 6.83 330,000 Granted 7.35 140,000 9.60 120,000 8.38 110,000 Exercised - - 7.67 (102,500 ) 6.27 (135,000 ) Forfeited 9.05 (67,500 ) - - - - Outstanding at End of Period 7.93 395,000 8.35 322,500 7.64 305,000 Exercisable at End of Period 7.94 220,000 7.33 147,500 6.72 112,500 The total intrinsic value of the stock options exercised during fiscal years 2017 2016 $214,000, $300,000, April 1, 2018, $22,000 $15,000, There were no 2018. no 2017, 2016. may $75,000 $118,000 2017 2016, Because the cash remitted on behalf of the participant to satisfy his or her income tax withholding obligations does not 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 awarded to certain employees during fiscal years 2018, 2017 2016, two Stock Options Issued to Employees During Fiscal Years 2018 2017 2016 Number of options issued 10,000 20,000 110,000 120,000 110,000 Grant date December 18, 2017 August 4, 2017 June 8, 2017 June 8, 2016 June 12, 2015 Dividend yield 4.92 % 5.77 % 4.13 % 3.33 % 3.82 % Expected volatility 25.00 % 25.00 % 25.00 % 20.00 % 20.00 % Risk free interest rate 1.94 % 1.51 % 1.47 % 0.93 % 1.12 % Contractual term (years) 10.00 10.00 10.00 10.00 10.00 Expected term (years) 3.00 3.00 3.00 3.00 3.00 Forfeiture rate 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 6.50 $ 5.55 $ 7.75 $ 9.60 $ 8.38 Fair value per option $ 0.59 $ 0.50 $ 0.85 $ 0.94 $ 0.77 For the fiscal years ended April 1, 2018, April 2, 2017 April 3, 2016, Fiscal Year Ended April 1, 2018 Options Granted in Fiscal Year Cost of Products Sold Marketing & Administrative Expenses Total Expense 2016 $ 6 $ 1 $ 7 2017 26 15 41 2018 17 19 36 Total stock option compensation $ 49 $ 35 $ 84 Fiscal Year Ended April 2, 2017 Cost of Marketing & Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense 2015 $ 14 $ 12 $ 26 2016 23 19 42 2017 25 17 42 Total stock option compensation $ 62 $ 48 $ 110 Fiscal Year Ended April 3, 2016 Cost of Marketing & Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense 2014 $ 7 $ 7 $ 14 2015 54 45 99 2016 17 14 31 Total stock option compensation $ 78 $ 66 $ 144 A summary of stock options outstanding and exercisable as of April 1, 2018 Exercise Price Number of Options Outstanding Weighted- Avg. Remaining Contractual Life in Years Weighted- Avg. Exercise Price of Options Outstanding Number of Options Exercisable Weighted- Avg. Exercise Price of Options Exercisable $4.00 - 4.99 5,000 3.19 $4.81 5,000 $4.81 $5.00 - 5.99 40,000 6.77 $5.49 20,000 $5.42 $6.00 - 6.99 30,000 6.71 $6.26 20,000 $6.14 $7.00 - 7.99 160,000 8.07 $7.81 60,000 $7.90 $8.00 - 8.99 70,000 7.20 $8.38 70,000 $8.38 $9.00 - 9.99 90,000 8.19 $9.60 45,000 $9.60 395,000 7.65 $7.93 220,000 $7.94 As of April 1, 2018, $75,000, 7.3 Non-vested Stock Granted to Non-Employee Directors : Number Fair Value of Shares per Share Grant Date 28,000 $5.50 August 9, 2017 28,000 10.08 August 10, 2016 28,000 8.20 August 12, 2015 28,000 7.97 August 11, 2014 28,000 6.67 August 14, 2013 These shares vest over a two August 2017, 2016 2015, 28,000 $157,000, $281,000 $226,000, Non-vested Stock Granted to Employees: three June 27, 2010, 345,000 ten 30 July 29, 2015. third $1.2 With the closing price conditions having been met for these awards, the Board at various times approved the acceleration of the vesting of 105,000 July 29, 2015, 240,000 $1.9 $948,000 Performance Bonus Plan: may may two three two In connection with the performance bonus plan, the Company granted shares of common stock and recognized or will recognize compensation expense as set forth below. Fiscal Year Shares Fiscal Year Fair Value Per Compensation expense recognized during fiscal year Earned Granted Granted Share 2014 2015 2016 2017 2018 2019 2014 188,232 2015 $ 5.650 $ 354,000 $ 354,000 $ 354,000 $ - $ - $ - 2015 58,532 2016 7.180 - 140,000 140,000 140,000 - - 2016 41,205 2017 7.865 - - 108,000 108,000 108,000 - 2017 42,250 2018 8.271 - - - 116,000 116,000 116,000 The below table sets forth the vesting of shares issued in connection with the grants of shares set forth in the above table. 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. The below table also sets forth the taxes remitted to the appropriate taxing authorities on behalf of such individuals. Fiscal Vesting of shares during fiscal year 2016 Vesting of shares during fiscal year 2017 Vesting of shares during fiscal year 2018 Year Granted Shares Granted Shares Vested Aggregate Value Taxes Remitted Shares Vested Aggregate Value Taxes Remitted Shares Vested Aggregate Value Taxes Remitted 2015 188,232 188,532 $ 1,618,000 $ 789,000 - $ - $ - - $ - $ - 2016 58,532 29,267 275,000 138,000 29,265 240,000 86,000 - - - 2017 41,205 - - - - - - 20,604 167,000 56,000 For the fiscal years ended April 1, 2018, April 2, 2017 April 3, 2016, Fiscal Year Ended April 1, 2018 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2016 $ - $ 38 $ 38 2017 108 141 249 2018 116 52 168 Total stock grant compensation $ 224 $ 231 $ 455 Fiscal Year Ended April 2, 2017 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2015 $ - $ 37 $ 37 2016 140 115 255 2017 108 94 202 Total stock grant compensation $ 248 $ 246 $ 494 Fiscal Year Ended April 3, 2016 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2011 $ 49 $ - $ 49 2014 - 31 31 2015 354 112 466 2016 140 76 216 Total stock grant compensation $ 543 $ 219 $ 762 As of April 1, 2018, $266,000, 5.7 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 – Income Taxes The Company’s income tax provision for the fiscal years ended April 1, 2018, April 2, 2017 April 3, 2016 Fiscal Year Ended April 1, 2018 Current Deferred Total Income tax expense on current year income: Federal $ 1,219 $ 325 $ 1,544 State 177 41 218 Foreign 12 - 12 Total income tax expense on current year income 1,408 366 1,774 Income tax expense (benefit) - discrete items: Reserve for unrecognized tax benefits 113 - 113 Revaluations due to change in enacted tax rates 120 377 497 Adjustment to prior year provision 74 (35 ) 39 Net excess tax benefit related to stock-based compensation (23 ) - (23 ) Income tax expense - discrete items 284 342 626 Total income tax expense $ 1,692 $ 708 $ 2,400 Fiscal Year Ended April 2, 2017 Current Deferred Total Income tax expense on current year income: Federal $ 2,422 $ 588 $ 3,010 State 200 105 305 Foreign 10 - 10 Total income tax expense on current year income 2,632 693 3,325 Income tax expense (benefit) - discrete items: Reserve for unrecognized tax benefits 134 - 134 Adjustment to prior year provision 9 4 13 Net excess tax benefit related to stock-based compensation (248 ) - (248 ) Income tax expense (benefit) - discrete items (105 ) 4 (101 ) Total income tax expense $ 2,527 $ 697 $ 3,224 Fiscal Year Ended April 2, 2017 Current Deferred Total Federal $ 3,540 $ 133 $ 3,673 State 271 32 303 Other -- net, including foreign (61 ) - (61 ) Income tax expense 3,750 165 3,915 Income tax reported in shareholders' equity related to stock-based compensation (273 ) - (273 ) Total $ 3,477 $ 165 $ 3,642 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of April 1, 2018 April 2, 2017 April 1, 2018 April 2, 2017 Deferred tax assets: Employee wage and benefit accruals $ 233 $ 319 Accounts receivable and inventory reserves 180 301 Deferred rent 40 67 Intangible assets 391 590 State net operating loss carryforwards 724 829 Stock-based compensation 208 299 Total gross deferred tax assets 1,776 2,405 Less valuation allowance (724 ) (829 ) Deferred tax assets after valuation allowance 1,052 1,576 Deferred tax liabilities: Prepaid expenses (186 ) (265 ) Property, plant and equipment (334 ) (71 ) Total deferred tax liabilities (520 ) (336 ) Net deferred income tax assets $ 532 $ 1,240 In assessing the probability that the Company’s deferred tax assets will be realized, management of the Company has considered whether it is more likely than not not April 1, 2018 April 2, 2017 not not The Company’s policy is to recognize the effect that a change in enacted tax rates would have on net deferred income tax assets and liabilities in the period in which the tax rates are changed. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company’s policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The Company has recognized the effect of the TCJA on the Company’s net deferred income tax assets, which as of October 2, 2017 April 2, 2017 37.5% 24.5%, $377,000 2018. 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 740 10 25, 50% The following table sets forth the reconciliation of the beginning and ending amounts of unrecognized tax benefits for fiscal years 2018, 2017 2016 2018 2017 2016 Balance at beginning of period $ 688 $ 211 $ - Additions related to current year positions 113 134 195 Additions related to prior year positions 96 343 16 Revaluations due to change in enacted tax rates 120 - - Reductions for tax positions of prior years - - - Reductions due to the lapse of the statute of limitations - - - Payments pursuant to judgements and settlements - - - Balance at end of period $ 1,017 $ 688 $ 211 During fiscal year 2016, not 2018 2017 $113,000 $134,000, 2016, $773,000, $573,000 $200,000. 21% $120,000 2018. 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. During fiscal years 2018, 2017 2016, $96,000, $65,000 $11,000, No The Company's provision for income taxes is based upon effective tax rates of 44.3%, 36.7% 36.4% 2018, 2017 2016, The following table reconciles income tax expense on income from continuing operations at the U.S. federal income tax statutory rate to the net income tax provision reported for fiscal years 2018, 2017 2016 2018 2017 2016 Federal statutory rate 30.75 % 34.00 % 34.00 % Tax expense at federal statutory rate $ 1,662 $ 2,991 $ 3,653 State income taxes, net of Federal income tax benefit 126 201 200 Tax credits (12 ) (10 ) (13 ) Discrete items 626 (105 ) - Net tax effect of book expenses not deductible for tax purposes - 143 132 Other - net, including foreign (2 ) 4 (57 ) Income tax expense $ 2,400 $ 3,224 $ 3,915 |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10 – S hare holders’ Equity Dividends: $0.32, $0.72 $0.57 $3.2 $7.2 $5.7 2018, 2017 2016, 2017 2016 $0.40 $0.25 no Stock Repurchases: 7,000 April 1, 2018 $8.10 99,000 April 2, 2017 $9.58 337,000 April 3, 2016 $8.41 |
Note 11 - Major Customers
Note 11 - Major Customers | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure of Major Customers [Text Block] | Note 1 1 - Major Customers The table below sets forth those customers that represented more than 10% April 1, 2018, April 2, 2017 April 3, 2016. 2018 2017 2016 Walmart Inc. 39% 42% 42% Toys "R" Us, Inc. 15% 19% 23% Amazon.com, Inc. 11% * * * Amount represented less than 10% of the Company's gross sales for this fiscal year. |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | N ote 1 2 – Commitments and Contingencies Total rent expense was $1.6 $1.5 $1.5 2018 2017 2016, April 1, 2018 $3.3 $1.5 $1.4 $473,000 2019, 2020 2021, Total royalty expense was $7.2 $7.0 $9.0 2018, 2017 2016, April 1, 2018 $4.4 $2.9 $1.5 2019 2020, The Company is, from time to time, involved in various legal proceedings relating to claims arising in the ordinary course of its business. Neither the Company nor any of its subsidiaries is a party to any such legal proceeding the outcome of which, individually or in the aggregate, is expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. |
Note 13 - Related Party Transac
Note 13 - Related Party Transaction | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 13 – Related Party Transaction On August 4, 2017, $63,000 2018, $55,000 $8,000 |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 12 Months Ended |
Apr. 01, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 1 4 – Subsequent Events The Company has evaluated events that have occurred between April 1, 2018 no F- 25 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Apr. 01, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation: |
Reclassification, Policy [Policy Text Block] | Reclassifications: None |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year: March 31. 2018” “2018” 52 April 1, 2018, 2017” “2017” 52 April 2, 2017 2016” “2016” 53 April 3, 2016. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments |
Segment Reporting, Policy [Policy Text Block] | Segments and Related Information: one 2018, 2017 2016 2018 2017 2016 Bedding, blankets and accessories $ 43,486 $ 42,381 $ 59,020 Bibs, bath, developmental toy, feeding, baby care and disposable products 26,784 23,597 25,322 Total net sales $ 70,270 $ 65,978 $ 84,342 |
Other Accrued Liabilities [Policy Text Block] | Other Accrued Liabilities: $540,000 April 1, 2018. $292,000 April 1, 2018 $8,000 $22,000. two |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition: |
Receivables, Policy [Policy Text Block] | Allowances Against Accounts Receivable: To reduce its exposure to credit losses, 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 uncollectiblity of its non-factored accounts receivable, which it accomplishes by specifically analyzing accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current economic trends and changes in its customers’ payment terms. On September 18, 2017, 11 11 March 14, 2018, As described below in Note 3 2018 $218,000. not 2017 2016. The Company’s accounts receivable at April 1, 2018 $18.5 $565,000. $15.4 |
Inventory, Policy [Policy Text Block] | Inventory Valuation: first first The determination of the indirect charges and their allocation to the Company's finished goods 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 and in the amount and timing of the Company's cost of products sold and the resulting net income for the reporting period. On a periodic basis, management reviews its inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not no may not may |
Depreciation, Depletion, and Amortization [Policy Text Block] | Depreciation and Amortization : three eight five twenty |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Valuation of Long-Lived Assets and Identifiable Intangible A s sets : may not |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patent Costs: |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Purchase Price Allocations and the Resulting Goodwill: The amount of goodwill recorded in a business combination can vary significantly depending upon the values attributed to the assets acquired and liabilities assumed. Although goodwill has no not first not one If, after assessing the totality of events or circumstances described above, the Company determines that it is more likely than not two two may not two |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs: $1.3 $742,000 $931,000 2018, 2017 2016, |
Income Tax, Policy [Policy Text Block] | Provision for Income Taxes: The Company files income tax returns in the many jurisdictions in which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations varies by jurisdiction; tax years open to federal or state audit or other adjustment as of April 1, 2018 April 1, 2018, April 2, 2017, April 3, 2016, March 29, 2015, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. The Company’s policy is to recognize the effect that a change in enacted tax rates would have on net deferred income tax assets and liabilities in the period in which the tax rates are changed. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company’s policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The Company has recognized the effect of the TCJA on the Company’s net deferred income tax assets, which as of October 2, 2017 April 2, 2017 37.5% 24.5%, $377,000 2018. 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 740 10 25, 50% During fiscal year 2016, not 2018 2017 $113,000 $134,000, 2016, $773,000, $573,000 $200,000. 21% $120,000 2018. 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. During fiscal years 2018, 2017 2016, $96,000, $65,000 $11,000, No In December 2016, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. one not |
Revenue Recognition, Services, Royalty Fees [Policy Text Block] | Royalty Payments: $7.2 $7.0 $9.0 2018, 2017 2016, |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share: |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards: May 28, 2014, No. 2014 09, Revenue from Contracts wit h Customers (Topic 606 No. 2014 09 December 15, 2016, August 12, 2015 No. 2015 14, Revenue from Contracts with Customers (Topic 606 one No. 2014 09. not No. 2014 09, No. 2015 14 first December 15, 2016. ASU No. 2014 09 No. 2014 09 April 2, 2018 No. 2014 09 not No. 2014 09 On July 22, 2015, No. 2015 11, Inventory (Topic 330 first December 15, 2016. No. 2015 11 April 3, 2017, not On February 25, 2016, No. 2016 02, Leases (Topic 842 No. 2016 02, first December 15, 2018. No. 2016 02 On June 16, 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 not No. 2016 13 first December 15, 2019. may first December 15, 2018. not No. 2016 13, not No. 2016 13 On January 26, 2017, No. 2017 04 , Intangibles – Goodwill and Other (Topic 350 first not two first one second second The intent of ASU No. 2017 04 second not first December 15, 2019, first January 1, 2017. No. 2017 04 April 3, 2017, not The Company has determined that all other ASU’s issued which had become effective as of May 10, 2018, not |
Schedule II - Valuation and Q24
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Valuation and Qualifying Accounts Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Expenses Deductions Balance at End of Period (in thousands) Accounts Receivable Valuation Accounts: Year Ended April 3, 2016 Allowance for customer deductions $ 1,000 $ 3,495 $ 3,750 $ 745 Year Ended April 2 , 201 7 Allowance for customer deductions $ 745 $ 3,695 $ 3,665 $ 775 Year Ended April 1 , 201 8 Allowance for customer deductions $ 775 $ 3,749 $ 3,959 $ 565 Allowance for doubtful accounts $ 0 $ 218 $ 218 $ 0 |
Note 2 - Summary of Significa25
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | 2018 2017 2016 Bedding, blankets and accessories $ 43,486 $ 42,381 $ 59,020 Bibs, bath, developmental toy, feeding, baby care and disposable products 26,784 23,597 25,322 Total net sales $ 70,270 $ 65,978 $ 84,342 |
Note 4 - Acquisitions (Tables)
Note 4 - Acquisitions (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Sassy Acquisition [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Tangible assets: Inventory $ 3,297 Prepaid expenses 120 Fixed assets 383 Total tangible assets 3,800 Amortizable intangible assets: Tradename 580 Customer relationships 1,840 Total amortizable intangible assets 2,420 Goodwill 320 Total acquired assets 6,540 Liabilities assumed: Accrued wages 20 Net acquisition cost $ 6,520 |
Carousel Designs, LLC. Acquisition [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Tangible assets: Inventory $ 967 Prepaid expenses 5 Fixed assets 1,068 Total tangible assets 2,040 Amortizable intangible assets: Tradename 1,100 Developed technology 1,100 Non-compete covenants 360 Total amortizable intangible assets 2,560 Goodwill 5,679 Total acquired assets 10,279 Liabilities assumed: Accounts payable 319 Accrued wages and benefits 59 Unearned revenue 271 Other accrued liabilities 60 Capital leases 845 Total liabilities assumed 1,554 Net acquisition cost $ 8,725 |
Note 6 - Goodwill, Customer R27
Note 6 - Goodwill, Customer Relationships and Other Intangible Assets (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Amount Accumulated Amortization Amortization Expense Fiscal Year Ended April 1, April 2, April 1, April 2, April 1, April 2, April 3, 2018 2017 2018 2017 2018 2017 2016 Tradename and trademarks $ 3,667 $ 1,987 $ 1,270 $ 1,066 $ 204 $ 133 $ 132 Developed technology 1,100 - 73 - 73 - - Non-compete covenants 458 98 122 67 55 7 7 Patents 1,601 1,601 673 565 108 107 108 Customer relationships 7,374 5,534 4,790 4,394 396 507 501 Total other intangible assets $ 14,200 $ 9,220 $ 6,928 $ 6,092 $ 836 $ 754 $ 748 Classification within the accompanying consolidated statements of income: Cost of products sold $ 7 $ 7 $ 7 Marketing and administrative expenses 829 747 741 Total amortization expense $ 836 $ 754 $ 748 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | April 1, 2018 April 2, 2017 Raw Materials $ 875 $ 42 Work in Process 134 - Finished Goods 18,779 15,779 Total inventory $ 19,788 $ 15,821 |
Note 8 - Stock-based Compensa29
Note 8 - Stock-based Compensation (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Fiscal Year Ended April 1, 2018 Fiscal Year Ended April 2, 2017 Fiscal Year Ended April 3, 2016 Weighted- Weighted- Weighted- Average Number of Average Number of Average Number of Exercise Options Exercise Options Exercise Options Price Outstanding Price Outstanding Price Outstanding Outstanding at Beginning of Period $ 8.35 322,500 $ 7.64 305,000 $ 6.83 330,000 Granted 7.35 140,000 9.60 120,000 8.38 110,000 Exercised - - 7.67 (102,500 ) 6.27 (135,000 ) Forfeited 9.05 (67,500 ) - - - - Outstanding at End of Period 7.93 395,000 8.35 322,500 7.64 305,000 Exercisable at End of Period 7.94 220,000 7.33 147,500 6.72 112,500 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Stock Options Issued to Employees During Fiscal Years 2018 2017 2016 Number of options issued 10,000 20,000 110,000 120,000 110,000 Grant date December 18, 2017 August 4, 2017 June 8, 2017 June 8, 2016 June 12, 2015 Dividend yield 4.92 % 5.77 % 4.13 % 3.33 % 3.82 % Expected volatility 25.00 % 25.00 % 25.00 % 20.00 % 20.00 % Risk free interest rate 1.94 % 1.51 % 1.47 % 0.93 % 1.12 % Contractual term (years) 10.00 10.00 10.00 10.00 10.00 Expected term (years) 3.00 3.00 3.00 3.00 3.00 Forfeiture rate 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 6.50 $ 5.55 $ 7.75 $ 9.60 $ 8.38 Fair value per option $ 0.59 $ 0.50 $ 0.85 $ 0.94 $ 0.77 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Fiscal Year Ended April 1, 2018 Options Granted in Fiscal Year Cost of Products Sold Marketing & Administrative Expenses Total Expense 2016 $ 6 $ 1 $ 7 2017 26 15 41 2018 17 19 36 Total stock option compensation $ 49 $ 35 $ 84 Fiscal Year Ended April 2, 2017 Cost of Marketing & Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense 2015 $ 14 $ 12 $ 26 2016 23 19 42 2017 25 17 42 Total stock option compensation $ 62 $ 48 $ 110 Fiscal Year Ended April 3, 2016 Cost of Marketing & Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense 2014 $ 7 $ 7 $ 14 2015 54 45 99 2016 17 14 31 Total stock option compensation $ 78 $ 66 $ 144 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Exercise Price Number of Options Outstanding Weighted- Avg. Remaining Contractual Life in Years Weighted- Avg. Exercise Price of Options Outstanding Number of Options Exercisable Weighted- Avg. Exercise Price of Options Exercisable $4.00 - 4.99 5,000 3.19 $4.81 5,000 $4.81 $5.00 - 5.99 40,000 6.77 $5.49 20,000 $5.42 $6.00 - 6.99 30,000 6.71 $6.26 20,000 $6.14 $7.00 - 7.99 160,000 8.07 $7.81 60,000 $7.90 $8.00 - 8.99 70,000 7.20 $8.38 70,000 $8.38 $9.00 - 9.99 90,000 8.19 $9.60 45,000 $9.60 395,000 7.65 $7.93 220,000 $7.94 |
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity [Table Text Block] | Number Fair Value of Shares per Share Grant Date 28,000 $5.50 August 9, 2017 28,000 10.08 August 10, 2016 28,000 8.20 August 12, 2015 28,000 7.97 August 11, 2014 28,000 6.67 August 14, 2013 |
Schedule of Nonvested Share Activity [Table Text Block] | Fiscal Year Ended April 1, 2018 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2016 $ - $ 38 $ 38 2017 108 141 249 2018 116 52 168 Total stock grant compensation $ 224 $ 231 $ 455 Fiscal Year Ended April 2, 2017 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2015 $ - $ 37 $ 37 2016 140 115 255 2017 108 94 202 Total stock grant compensation $ 248 $ 246 $ 494 Fiscal Year Ended April 3, 2016 Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense 2011 $ 49 $ - $ 49 2014 - 31 31 2015 354 112 466 2016 140 76 216 Total stock grant compensation $ 543 $ 219 $ 762 |
Performance Shares [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Fiscal Year Shares Fiscal Year Fair Value Per Compensation expense recognized during fiscal year Earned Granted Granted Share 2014 2015 2016 2017 2018 2019 2014 188,232 2015 $ 5.650 $ 354,000 $ 354,000 $ 354,000 $ - $ - $ - 2015 58,532 2016 7.180 - 140,000 140,000 140,000 - - 2016 41,205 2017 7.865 - - 108,000 108,000 108,000 - 2017 42,250 2018 8.271 - - - 116,000 116,000 116,000 Fiscal Vesting of shares during fiscal year 2016 Vesting of shares during fiscal year 2017 Vesting of shares during fiscal year 2018 Year Granted Shares Granted Shares Vested Aggregate Value Taxes Remitted Shares Vested Aggregate Value Taxes Remitted Shares Vested Aggregate Value Taxes Remitted 2015 188,232 188,532 $ 1,618,000 $ 789,000 - $ - $ - - $ - $ - 2016 58,532 29,267 275,000 138,000 29,265 240,000 86,000 - - - 2017 41,205 - - - - - - 20,604 167,000 56,000 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Fiscal Year Ended April 1, 2018 Current Deferred Total Income tax expense on current year income: Federal $ 1,219 $ 325 $ 1,544 State 177 41 218 Foreign 12 - 12 Total income tax expense on current year income 1,408 366 1,774 Income tax expense (benefit) - discrete items: Reserve for unrecognized tax benefits 113 - 113 Revaluations due to change in enacted tax rates 120 377 497 Adjustment to prior year provision 74 (35 ) 39 Net excess tax benefit related to stock-based compensation (23 ) - (23 ) Income tax expense - discrete items 284 342 626 Total income tax expense $ 1,692 $ 708 $ 2,400 Fiscal Year Ended April 2, 2017 Current Deferred Total Income tax expense on current year income: Federal $ 2,422 $ 588 $ 3,010 State 200 105 305 Foreign 10 - 10 Total income tax expense on current year income 2,632 693 3,325 Income tax expense (benefit) - discrete items: Reserve for unrecognized tax benefits 134 - 134 Adjustment to prior year provision 9 4 13 Net excess tax benefit related to stock-based compensation (248 ) - (248 ) Income tax expense (benefit) - discrete items (105 ) 4 (101 ) Total income tax expense $ 2,527 $ 697 $ 3,224 Fiscal Year Ended April 2, 2017 Current Deferred Total Federal $ 3,540 $ 133 $ 3,673 State 271 32 303 Other -- net, including foreign (61 ) - (61 ) Income tax expense 3,750 165 3,915 Income tax reported in shareholders' equity related to stock-based compensation (273 ) - (273 ) Total $ 3,477 $ 165 $ 3,642 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | April 1, 2018 April 2, 2017 Deferred tax assets: Employee wage and benefit accruals $ 233 $ 319 Accounts receivable and inventory reserves 180 301 Deferred rent 40 67 Intangible assets 391 590 State net operating loss carryforwards 724 829 Stock-based compensation 208 299 Total gross deferred tax assets 1,776 2,405 Less valuation allowance (724 ) (829 ) Deferred tax assets after valuation allowance 1,052 1,576 Deferred tax liabilities: Prepaid expenses (186 ) (265 ) Property, plant and equipment (334 ) (71 ) Total deferred tax liabilities (520 ) (336 ) Net deferred income tax assets $ 532 $ 1,240 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2018 2017 2016 Balance at beginning of period $ 688 $ 211 $ - Additions related to current year positions 113 134 195 Additions related to prior year positions 96 343 16 Revaluations due to change in enacted tax rates 120 - - Reductions for tax positions of prior years - - - Reductions due to the lapse of the statute of limitations - - - Payments pursuant to judgements and settlements - - - Balance at end of period $ 1,017 $ 688 $ 211 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 2016 Federal statutory rate 30.75 % 34.00 % 34.00 % Tax expense at federal statutory rate $ 1,662 $ 2,991 $ 3,653 State income taxes, net of Federal income tax benefit 126 201 200 Tax credits (12 ) (10 ) (13 ) Discrete items 626 (105 ) - Net tax effect of book expenses not deductible for tax purposes - 143 132 Other - net, including foreign (2 ) 4 (57 ) Income tax expense $ 2,400 $ 3,224 $ 3,915 |
Note 11 - Major Customers (Tabl
Note 11 - Major Customers (Tables) | 12 Months Ended |
Apr. 01, 2018 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | 2018 2017 2016 Walmart Inc. 39% 42% 42% Toys "R" Us, Inc. 15% 19% 23% Amazon.com, Inc. 11% * * * Amount represented less than 10% of the Company's gross sales for this fiscal year. |
Schedule II - Valuation and Q32
Schedule II - Valuation and Qualifying Accounts - Valuation And Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Allowance for Customer Deductions [Member] | |||
Balance at Beginning of Period | $ 775 | $ 745 | $ 1,000 |
Charged to Expenses | 3,749 | 3,695 | 3,495 |
Deductions | 3,959 | 3,665 | 3,750 |
Balance at End of Period | 565 | 775 | $ 745 |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||
Balance at Beginning of Period | 0 | ||
Charged to Expenses | 218 | ||
Deductions | 218 | ||
Balance at End of Period | $ 0 | $ 0 |
Note 2 - Summary of Significa33
Note 2 - Summary of Significant Accounting Policies (Details Textual) | Jan. 01, 2018 | Apr. 02, 2017USD ($) | Dec. 31, 2017 | Apr. 01, 2018USD ($) | Apr. 02, 2017USD ($) | Apr. 03, 2016USD ($) |
Number of Operating Segments | 1 | |||||
Other Accrued Liabilities, Current | $ 245,000 | $ 540,000 | $ 245,000 | |||
Provision for Doubtful Accounts | 218,000 | 0 | $ 0 | |||
Accounts Receivable, Net, Current, Total | 18,500,000 | |||||
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | 565,000 | |||||
Due From Factor | $ 14,921,000 | $ 15,447,000 | $ 14,921,000 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 30.75% | 34.00% | 34.00% | ||
Effective Income Tax Rate Reconciliation, Composite Rate, Percent | 37.50% | 24.50% | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 377,000 | |||||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 113,000 | $ 134,000 | $ 195,000 | |||
Unrecognized Tax Benefits, Gross | 773,000 | |||||
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | 573,000 | |||||
Unrecognized Tax Benefits, Ending Balance | 200,000 | |||||
Income Tax Expense (Benefit), Reserve for Unrecognized Tax Benefits, Net Discrete Charge | 120,000 | |||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 96,000 | 65,000 | 11,000 | |||
Cost of Goods and Services Sold, Total | 50,491,000 | 46,567,000 | 60,529,000 | |||
Royalty [Member] | ||||||
Cost of Goods and Services Sold, Total | 7,200,000 | 7,000,000 | 9,000,000 | |||
Selling, General and Administrative Expenses [Member] | ||||||
Advertising Expense | $ 1,300,000 | $ 742,000 | $ 931,000 | |||
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 | |||||
Other Accrued Liabilities [Member] | Up-front Payment Arrangement [Member] | ||||||
Deferred Revenue, Current | $ 292,000 | |||||
Other Accrued Liabilities [Member] | Customer Returns [Member] | ||||||
Deferred Revenue, Current | 8,000 | |||||
Other Accrued Liabilities [Member] | Store Credits and Gift Certificates [Member] | ||||||
Deferred Revenue, Current | $ 22,000 |
Note 2 - Summary of Significa34
Note 2 - Summary of Significant Accounting Policies - Segment and Related Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Net sales | $ 70,270 | $ 65,978 | $ 84,342 |
Bedding, Blankets, And Accessories [Member] | |||
Net sales | 43,486 | 42,381 | 59,020 |
Bibs, Bath, And Disposable Products [Member] | |||
Net sales | $ 26,784 | $ 23,597 | $ 25,322 |
Note 3 - Financing Arrangemen35
Note 3 - Financing Arrangements (Details Textual) - USD ($) | Sep. 19, 2017 | May 16, 2017 | Dec. 27, 2015 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | Sep. 18, 2017 |
Selling, General and Administrative Expense, Total | $ 14,272,000 | $ 10,711,000 | $ 13,025,000 | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.125% | ||||||
Line of Credit Facility, Commitment Fee Amount | 25,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 13,200,000 | 21,400,000 | |||||
Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 26,000,000 | ||||||
Long-term Line of Credit, Total | 9,500,000 | 0 | |||||
Letters of Credit Outstanding, Amount | $ 0 | 0 | |||||
Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||
Debt Instrument Basis Spread Below Variable Rate | 0.50% | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.75% | ||||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.67% | ||||||
Letter of Credit [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500,000 | ||||||
Factoring Fees [Member] | |||||||
Selling, General and Administrative Expense, Total | 223,000 | $ 395,000 | $ 556,000 | ||||
Chase Bank N.A. [Member] | Master Stand-by Claims Purchase Agreement [Member] | |||||||
Purchase Agreement, Monthly Fee, Percentage of Accounts Receivable | 1.65% | ||||||
Purchase Agreement, Limit of Accounts Receivable Used in Determination of Monthly Fee | $ 1,800,000 | ||||||
Selling, General and Administrative Expense, Total | 480,000 | ||||||
Chase Bank N.A. [Member] | Master Stand-by Claims Purchase Agreement [Member] | Other Accounts Receivable [Member] | |||||||
Accounts Receivable, Net, Total | 755,000 | $ 866,000 | |||||
Chase Bank N.A. [Member] | Master Stand by Claims Second Purchase Agreement [Member] | |||||||
Purchase Agreement, Monthly Fee, Percentage of Accounts Receivable | 1.50% | ||||||
Purchase Agreement, Limit of Accounts Receivable Used in Determination of Monthly Fee | $ 1,800,000 | ||||||
Selling, General and Administrative Expense, Total | $ 173,000 |
Note 4 - Acquisitions (Details
Note 4 - Acquisitions (Details Textual) - USD ($) | Dec. 15, 2017 | Aug. 04, 2017 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 |
Payments to Acquire Businesses, Gross | $ 15,245,000 | $ 123,000 | |||
Goodwill, Ending Balance | 7,125,000 | 1,126,000 | |||
Repayments of Long-term Capital Lease Obligations | 845,000 | ||||
Amortization of Intangible Assets, Total | 836,000 | 754,000 | 748,000 | ||
Noncompete Agreements [Member] | |||||
Amortization of Intangible Assets, Total | 55,000 | 7,000 | 7,000 | ||
Customer Relationships [Member] | |||||
Amortization of Intangible Assets, Total | 396,000 | 507,000 | 501,000 | ||
Selling, General and Administrative Expenses [Member] | |||||
Amortization of Intangible Assets, Total | 829,000 | $ 747,000 | $ 741,000 | ||
Carousel Designs, LLC. Acquisition [Member] | |||||
Payments to Acquire Businesses, Gross | $ 8,700,000 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | (300,000) | ||||
Goodwill, Purchase Accounting Adjustments | 300,000 | ||||
Goodwill, Ending Balance | 5,679,000 | 5,700,000 | |||
Repayments of Long-term Capital Lease Obligations | $ 845,000 | ||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 5.40 | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years | ||||
Carousel Designs, LLC. Acquisition [Member] | Trade Names [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||||
Carousel Designs, LLC. Acquisition [Member] | Developed Technology Rights [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||
Carousel Designs, LLC. Acquisition [Member] | Noncompete Agreements [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Carousel Designs, LLC. Acquisition [Member] | Selling, General and Administrative Expenses [Member] | |||||
Business Combination, Acquisition Related Costs | $ 347,000 | ||||
Amortization of Intangible Assets, Total | 183,000 | ||||
Sassy Acquisition [Member] | |||||
Payments to Acquire Businesses, Gross | $ 6,500,000 | ||||
Business Combination, Acquisition Related Costs | 169,000 | ||||
Goodwill, Ending Balance | $ 320,000 | 320,000 | |||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 2,100,000 | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years | ||||
Sassy Acquisition [Member] | Trade Names [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||||
Sassy Acquisition [Member] | Customer Relationships [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||
Sassy Acquisition [Member] | Selling, General and Administrative Expenses [Member] | |||||
Amortization of Intangible Assets, Total | $ 56,000 |
Note 4 - Acquisitions - Assets
Note 4 - Acquisitions - Assets Acquired and Liabilities Assumed for Carousel Designs LLC (Details) - USD ($) | Apr. 01, 2018 | Aug. 04, 2017 | Apr. 02, 2017 |
Goodwill, Ending Balance | $ 7,125,000 | $ 1,126,000 | |
Carousel Designs, LLC. Acquisition [Member] | |||
Inventory | $ 967,000 | ||
Prepaid expenses | 5,000 | ||
Fixed assets | 1,068,000 | ||
Total tangible assets | 2,040,000 | ||
Amortizable intangible assets | 2,560,000 | ||
Goodwill, Ending Balance | $ 5,700,000 | 5,679,000 | |
Total acquired assets | 10,279,000 | ||
Accounts payable | 319,000 | ||
Accrued wages and benefits | 59,000 | ||
Unearned revenue | 271,000 | ||
Other accrued liabilities | 60,000 | ||
Capital leases | 845,000 | ||
Total liabilities assumed | 1,554,000 | ||
Net acquisition cost | 8,725,000 | ||
Carousel Designs, LLC. Acquisition [Member] | Trade Names [Member] | |||
Amortizable intangible assets | 1,100,000 | ||
Carousel Designs, LLC. Acquisition [Member] | Developed Technology Rights [Member] | |||
Amortizable intangible assets | 1,100,000 | ||
Carousel Designs, LLC. Acquisition [Member] | Noncompete Agreements [Member] | |||
Amortizable intangible assets | $ 360,000 |
Note 4 - Acquisitions - Asset38
Note 4 - Acquisitions - Assets Acquired and Liabilities Assumed for Sassy (Details) - USD ($) | Apr. 01, 2018 | Dec. 15, 2017 | Apr. 02, 2017 |
Goodwill | $ 7,125,000 | $ 1,126,000 | |
Sassy Acquisition [Member] | |||
Inventory | $ 3,297,000 | ||
Prepaid expenses | 120,000 | ||
Fixed assets | 383,000 | ||
Total tangible assets | 3,800,000 | ||
Amortizable intangible assets | 2,420,000 | ||
Goodwill | $ 320,000 | 320,000 | |
Total acquired assets | 6,540,000 | ||
Accrued wages | 20,000 | ||
Net acquisition cost | 6,520,000 | ||
Sassy Acquisition [Member] | Trade Names [Member] | |||
Amortizable intangible assets | 580,000 | ||
Sassy Acquisition [Member] | Customer Relationships [Member] | |||
Amortizable intangible assets | $ 1,840,000 |
Note 5 - Retirement Plan (Detai
Note 5 - Retirement Plan (Details Textual) - USD ($) | 12 Months Ended | |||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | Mar. 29, 2015 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 223,000 | $ 252,000 | $ 203,000 | |
First 2% Employee Contributions [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | 100.00% | 100.00% | 100.00% |
Defined Contribution Plan Employee Contribution Percent | 2.00% | 2.00% | 2.00% | 2.00% |
Next 1% Employee Contributions [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | |||
Defined Contribution Plan Employee Contribution Percent | 1.00% | |||
Next 3% Employee Contributions [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | 50.00% | 50.00% | |
Defined Contribution Plan Employee Contribution Percent | 3.00% | 3.00% | 3.00% |
Note 6 - Goodwill, Customer R40
Note 6 - Goodwill, Customer Relationships and Other Intangible Assets (Details Textual) | 12 Months Ended | ||||
Apr. 01, 2018USD ($) | Dec. 15, 2017USD ($) | Aug. 04, 2017USD ($) | Apr. 03, 2017USD ($) | Apr. 02, 2017USD ($) | |
Number of Reportable Segments | 2 | ||||
Goodwill, Gross | $ 30,000,000 | $ 24,000,000 | |||
Goodwill, Ending Balance | 7,125,000 | 1,126,000 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 22,900,000 | $ 0 | $ 22,900,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 854,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 854,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 790,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 765,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 689,000 | ||||
Carousel Designs, LLC. Acquisition [Member] | |||||
Goodwill, Ending Balance | 5,700,000 | $ 5,679,000 | |||
Sassy Acquisition [Member] | |||||
Goodwill, Ending Balance | $ 320,000 | $ 320,000 |
Note 6 - Goodwill, Customer R41
Note 6 - Goodwill, Customer Relationships and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Finite-lived intangible assets, gross amount | $ 14,200 | $ 9,220 | |
Finite-lived intangible assets, accumulated amortization | 6,928 | 6,092 | |
Amortization expense | 836 | 754 | $ 748 |
Cost of Sales [Member] | |||
Amortization expense | 7 | 7 | 7 |
Selling, General and Administrative Expenses [Member] | |||
Amortization expense | 829 | 747 | 741 |
Trademarks and Trade Names [Member] | |||
Finite-lived intangible assets, gross amount | 3,667 | 1,987 | |
Finite-lived intangible assets, accumulated amortization | 1,270 | 1,066 | |
Amortization expense | 204 | 133 | 132 |
Developed Technology [Member] | |||
Finite-lived intangible assets, gross amount | 1,100 | ||
Finite-lived intangible assets, accumulated amortization | 73 | ||
Amortization expense | 73 | ||
Noncompete Agreements [Member] | |||
Finite-lived intangible assets, gross amount | 458 | 98 | |
Finite-lived intangible assets, accumulated amortization | 122 | 67 | |
Amortization expense | 55 | 7 | 7 |
Patents [Member] | |||
Finite-lived intangible assets, gross amount | 1,601 | 1,601 | |
Finite-lived intangible assets, accumulated amortization | 673 | 565 | |
Amortization expense | 108 | 107 | 108 |
Customer Relationships [Member] | |||
Finite-lived intangible assets, gross amount | 7,374 | 5,534 | |
Finite-lived intangible assets, accumulated amortization | 4,790 | 4,394 | |
Amortization expense | $ 396 | $ 507 | $ 501 |
Note 7 - Inventories - Componen
Note 7 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Apr. 01, 2018 | Apr. 02, 2017 |
Raw Materials | $ 875 | $ 42 |
Work in Process | 134 | |
Finished Goods | 18,779 | 15,779 |
Total inventory | $ 19,788 | $ 15,821 |
Note 8 - Stock-based Compensa43
Note 8 - Stock-based Compensation (Details Textual) - USD ($) | Jul. 29, 2015 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Jun. 27, 2010 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | Jul. 28, 2015 |
Common Stock, Capital Shares Reserved for Future Issuance | 672,000 | ||||||||
Allocated Share-based Compensation Expense, Total | $ 539,000 | $ 604,000 | $ 906,000 | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | 0 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 22,000 | 214,000 | 300,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 15,000 | ||||||||
Proceeds from Stock Options Exercised | $ 0 | 0 | 0 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 171 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number | 105,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 266,000 | ||||||||
Employee Stock Option [Member] | |||||||||
Allocated Share-based Compensation Expense, Total | $ 84,000 | 110,000 | 144,000 | ||||||
Payments Related to Tax Withholding for Share-based Compensation | $ 75,000 | $ 118,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 2 years | 2 years | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 75,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 219 days | ||||||||
Restricted Stock [Member] | Non Employee Directors [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 28,000 | 28,000 | 28,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 157,000 | $ 281,000 | $ 226,000 | ||||||
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 | ||||||||
Restricted Stock [Member] | Employee [Member] | |||||||||
Payments Related to Tax Withholding for Share-based Compensation | $ 948,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 240,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ 1,900,000 | ||||||||
Performance Shares [Member] | |||||||||
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 |
Note 8 - Stock-based Compensa44
Note 8 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Outstanding, Weighted-average exercise price, beginning balance (in dollars per share) | $ 8.35 | $ 7.64 | $ 6.83 |
Outstanding, Shares, beginning balance (in shares) | 322,500 | 305,000 | 330,000 |
Granted, Weighted-average exercise price (in dollars per share) | $ 7.35 | $ 9.60 | $ 8.38 |
Number of options issued (in shares) | 140,000 | 120,000 | 110,000 |
Exercised, Weighted-average exercise price (in dollars per share) | $ 7.67 | $ 6.27 | |
Exercised, Shares (in shares) | (102,500) | (135,000) | |
Forfeited, Weighted-average exercise price (in dollars per share) | $ 9.05 | ||
Forfeited, Shares (in shares) | (67,500) | ||
Outstanding, Weighted-average exercise price, ending balance (in dollars per share) | $ 7.93 | $ 8.35 | $ 7.64 |
Outstanding, Shares, ending balance (in shares) | 395,000 | 322,500 | 305,000 |
Exercisable, Weighted-average exercise price (in dollars per share) | $ 7.94 | $ 7.33 | $ 6.72 |
Exercisable, Shares (in shares) | 220,000 | 147,500 | 112,500 |
Note 8 - Stock-based Compensa45
Note 8 - Stock-based Compensation - Estimated Fair Value of Stock Options Assumptions (Details) - $ / shares | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Number of options issued (in shares) | 140,000 | 120,000 | 110,000 |
December 18, 2017 [Member] | |||
Number of options issued (in shares) | 10,000 | ||
Grant date | Dec. 18, 2017 | ||
Dividend yield | 4.92% | ||
Expected volatility | 25.00% | ||
Risk free interest rate | 1.94% | ||
Contractual term (years) (Year) | 10 years | ||
Expected term (years) (Year) | 3 years | ||
Forfeiture rate | 5.00% | ||
Exercise price (grant-date closing price) per option (in dollars per share) | $ 6.50 | ||
Fair value per option (in dollars per share) | $ 0.59 | ||
August 4 2017 [Member] | |||
Number of options issued (in shares) | 20,000 | ||
Grant date | Aug. 4, 2017 | ||
Dividend yield | 5.77% | ||
Expected volatility | 25.00% | ||
Risk free interest rate | 1.51% | ||
Contractual term (years) (Year) | 10 years | ||
Expected term (years) (Year) | 3 years | ||
Forfeiture rate | 5.00% | ||
Exercise price (grant-date closing price) per option (in dollars per share) | $ 5.55 | ||
Fair value per option (in dollars per share) | $ 0.50 | ||
June 8 2017 [Member] | |||
Number of options issued (in shares) | 110,000 | ||
Grant date | Jun. 8, 2017 | ||
Dividend yield | 4.13% | ||
Expected volatility | 25.00% | ||
Risk free interest rate | 1.47% | ||
Contractual term (years) (Year) | 10 years | ||
Expected term (years) (Year) | 3 years | ||
Forfeiture rate | 5.00% | ||
Exercise price (grant-date closing price) per option (in dollars per share) | $ 7.75 | ||
Fair value per option (in dollars per share) | $ 0.85 | ||
June 8, 2016 [Member] | |||
Number of 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) (Year) | 10 years | 10 years | |
Expected term (years) (Year) | 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 8 - Stock-based Compensa46
Note 8 - Stock-based Compensation - Stock Option Compensation (Details) - USD ($) | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Allocated Share Based Compensation Expense | $ 539,000 | $ 604,000 | $ 906,000 |
Employee Stock Option [Member] | |||
Allocated Share Based Compensation Expense | 84,000 | 110,000 | 144,000 |
Employee Stock Option [Member] | Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 49,000 | 62,000 | 78,000 |
Employee Stock Option [Member] | Selling, General and Administrative Expenses [Member] | |||
Allocated Share Based Compensation Expense | 35,000 | 48,000 | 66,000 |
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | |||
Allocated Share Based Compensation Expense | 7,000 | 42,000 | 31,000 |
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 6,000 | 23,000 | 17,000 |
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member] | |||
Allocated Share Based Compensation Expense | 1,000 | 19,000 | 14,000 |
Employee Stock Option [Member] | Fiscal Year 2015 [Member] | |||
Allocated Share Based Compensation Expense | 26,000 | 99,000 | |
Employee Stock Option [Member] | Fiscal Year 2015 [Member] | Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 14,000 | 54,000 | |
Employee Stock Option [Member] | Fiscal Year 2015 [Member] | Selling, General and Administrative Expenses [Member] | |||
Allocated Share Based Compensation Expense | 12,000 | 45,000 | |
Employee Stock Option [Member] | Fiscal Year 2014 [Member] | |||
Allocated Share Based Compensation Expense | 14,000 | ||
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 2017 [Member] | |||
Allocated Share Based Compensation Expense | 41,000 | 42,000 | |
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 26,000 | 25,000 | |
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Selling, General and Administrative Expenses [Member] | |||
Allocated Share Based Compensation Expense | 15,000 | $ 17,000 | |
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | |||
Allocated Share Based Compensation Expense | 36,000 | ||
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 17,000 | ||
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | Selling, General and Administrative Expenses [Member] | |||
Allocated Share Based Compensation Expense | $ 19,000 |
Note 8 - Stock-based Compensa47
Note 8 - Stock-based Compensation - Stock Options by Exercise Prices Range (Details) | 12 Months Ended |
Apr. 01, 2018$ / sharesshares | |
Exercise Price Range, Upper Range Limit (in dollars per share) | |
Number of Options Outstanding (in shares) | shares | 395,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 7 years 237 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 7.93 |
Number of Options Exercisable (in shares) | shares | 220,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 7.94 |
Price Range 1 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 4 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 4.99 |
Number of Options Outstanding (in shares) | shares | 5,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 3 years 69 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 4.81 |
Number of Options Exercisable (in shares) | shares | 5,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 4.81 |
Price Range 2 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 5 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 5.99 |
Number of Options Outstanding (in shares) | shares | 40,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 6 years 281 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 5.49 |
Number of Options Exercisable (in shares) | shares | 20,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 5.42 |
Price Range 3 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 6 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 6.99 |
Number of Options Outstanding (in shares) | shares | 30,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 6 years 259 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 6.26 |
Number of Options Exercisable (in shares) | shares | 20,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 6.14 |
Price Range 4 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 7 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 7.99 |
Number of Options Outstanding (in shares) | shares | 160,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 8 years 25 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 7.81 |
Number of Options Exercisable (in shares) | shares | 60,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 7.90 |
Price Range 5 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 8 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 8.99 |
Number of Options Outstanding (in shares) | shares | 70,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 7 years 73 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 8.38 |
Number of Options Exercisable (in shares) | shares | 70,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 8.38 |
Price Range 6 [Member] | |
Exercise Price Range, Lower Range Limit (in dollars per share) | 9 |
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 9.99 |
Number of Options Outstanding (in shares) | shares | 90,000 |
Weighted- Avg. Remaining Contractual Life in Years (Year) | 8 years 69 days |
Weighted- Avg. Exercise Price of Options Outstanding (in dollars per share) | $ 9.60 |
Number of Options Exercisable (in shares) | shares | 45,000 |
Weighted- Avg. Exercise Price of Options Exercisable (in dollars per share) | $ 9.60 |
Note 8 - Stock-based Compensa48
Note 8 - Stock-based Compensation - Non-vested Stock to Directors (Details) - Non Employee Directors [Member] | 12 Months Ended |
Apr. 01, 2018$ / sharesshares | |
August 9 2017 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 5.50 |
Shares Granted (in shares) | shares | 28,000 |
August 10, 2016 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 10.08 |
Shares Granted (in shares) | shares | 28,000 |
August 12, 2015 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 8.20 |
Shares Granted (in shares) | shares | 28,000 |
August 11, 2014 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 7.97 |
Shares Granted (in shares) | shares | 28,000 |
August 14, 2013 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 6.67 |
Shares Granted (in shares) | shares | 28,000 |
Note 8 - Stock-based Compensa49
Note 8 - Stock-based Compensation - Grants and Compensation Expense in Connection With the Performance Bonus Plan (Details) - USD ($) | 12 Months Ended | |||||
Mar. 31, 2019 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | Mar. 29, 2015 | Mar. 30, 2014 | |
Allocated Share Based Compensation Expense | $ 539,000 | $ 604,000 | $ 906,000 | |||
Performance Shares [Member] | Earned in Fiscal 2014, Granted in Fiscal 2015 [Member] | ||||||
Shares Granted (in shares) | 188,232 | |||||
Fair Value Per Share (in dollars per share) | $ 5.65 | |||||
Allocated Share Based Compensation Expense | $ 354,000 | $ 354,000 | $ 354,000 | |||
Shares Vested (in shares) | 188,532 | |||||
Shares Vested, Aggregate Value | $ 1,618,000 | |||||
Shares Vested, Taxes Remitted | 789,000 | |||||
Performance Shares [Member] | Earned in Fiscal 2014, Granted in Fiscal 2015 [Member] | Scenario, Forecast [Member] | ||||||
Allocated Share Based Compensation Expense | ||||||
Performance Shares [Member] | Earned in Fiscal Year 2015, Granted in Fiscal Year 2016 [Member] | ||||||
Shares Granted (in shares) | 58,532 | |||||
Fair Value Per Share (in dollars per share) | $ 7.18 | |||||
Allocated Share Based Compensation Expense | $ 140,000 | $ 140,000 | 140,000 | |||
Shares Vested (in shares) | 29,265 | 29,267 | ||||
Shares Vested, Aggregate Value | $ 240,000 | $ 275,000 | ||||
Shares Vested, Taxes Remitted | 86,000 | 138,000 | ||||
Performance Shares [Member] | Earned in Fiscal Year 2015, Granted in Fiscal Year 2016 [Member] | Scenario, Forecast [Member] | ||||||
Allocated Share Based Compensation Expense | ||||||
Performance Shares [Member] | Earned in Fiscal Year 2016, Granted in Fiscal Year 2017 [Member] | ||||||
Shares Granted (in shares) | 41,205 | |||||
Fair Value Per Share (in dollars per share) | $ 7.865 | |||||
Allocated Share Based Compensation Expense | $ 108,000 | $ 108,000 | $ 108,000 | |||
Shares Vested (in shares) | 20,604 | |||||
Shares Vested, Aggregate Value | $ 167,000 | |||||
Shares Vested, Taxes Remitted | $ 56,000 | |||||
Performance Shares [Member] | Earned in Fiscal Year 2016, Granted in Fiscal Year 2017 [Member] | Scenario, Forecast [Member] | ||||||
Allocated Share Based Compensation Expense | ||||||
Performance Shares [Member] | Earned in Fiscal Year 2017, Granted in Fiscal Year 2018 [Member] | ||||||
Shares Granted (in shares) | 42,250 | |||||
Fair Value Per Share (in dollars per share) | $ 8.271 | |||||
Allocated Share Based Compensation Expense | $ 116,000 | $ 116,000 | ||||
Performance Shares [Member] | Earned in Fiscal Year 2017, Granted in Fiscal Year 2018 [Member] | Scenario, Forecast [Member] | ||||||
Allocated Share Based Compensation Expense | $ 116,000 |
Note 8 - Stock-based Compensa50
Note 8 - Stock-based Compensation - Compensation Expense Associated with Non-vested Stock Grants (Details) - USD ($) | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Allocated Share-based Compensation Expense, Total | $ 539,000 | $ 604,000 | $ 906,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | |||
Allocated Share-based Compensation Expense, Total | 455,000 | 494,000 | 762,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 224,000 | 248,000 | 543,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | 231,000 | 246,000 | 219,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | |||
Allocated Share-based Compensation Expense, Total | 38,000 | 255,000 | 216,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 140,000 | 140,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | 38,000 | 115,000 | 76,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | |||
Allocated Share-based Compensation Expense, Total | 37,000 | 466,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 354,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2015 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | 37,000 | 112,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2011 [Member] | |||
Allocated Share-based Compensation Expense, Total | 49,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2011 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 49,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2011 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | |||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | |||
Allocated Share-based Compensation Expense, Total | 249,000 | 202,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 108,000 | 108,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | 141,000 | $ 94,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2014 [Member] | |||
Allocated Share-based Compensation Expense, Total | 31,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2014 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | |||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2014 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | $ 31,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | |||
Allocated Share-based Compensation Expense, Total | 168,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | Employee [Member] | |||
Allocated Share-based Compensation Expense, Total | 116,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | Non Employee Directors [Member] | |||
Allocated Share-based Compensation Expense, Total | $ 52,000 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | Jan. 01, 2018 | Apr. 02, 2017 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 30.75% | 34.00% | 34.00% | |
Effective Income Tax Rate Reconciliation, Composite Rate, Percent | 37.50% | 24.50% | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 377,000 | ||||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 113,000 | $ 134,000 | $ 195,000 | ||
Unrecognized Tax Benefits, Gross | 773,000 | ||||
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | 573,000 | ||||
Unrecognized Tax Benefits, Ending Balance | 200,000 | ||||
Income Tax Expense (Benefit), Reserve for Unrecognized Tax Benefits, Net Discrete Charge | 120,000 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 96,000 | $ 65,000 | $ 11,000 | ||
Effective Income Tax Rate Reconciliation, Percent, Total | 44.30% | 36.70% | 36.40% |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Income tax expense on current year income, Federal, Current | $ 1,219 | $ 2,422 | $ 3,540 |
Income tax expense on current year income, Federal, Deferred | 325 | 588 | 133 |
Income tax expense on current year income, Federal, Total | 1,544 | 3,010 | 3,673 |
Income tax expense on current year income, State, Current | 177 | 200 | 271 |
Income tax expense on current year income, State, Deferred | 41 | 105 | 32 |
Income tax expense on current year income, State, Total | 218 | 305 | 303 |
Income tax expense on current year income, Foreign, Current | 12 | 10 | (61) |
Income tax expense on current year income, Foreign, Deferred | |||
Income tax expense on current year income, Foreign, Total | 12 | 10 | (61) |
Total income tax expense on current year income, Current | 1,408 | 2,632 | |
Total income tax expense on current year income, Deferred | 366 | 693 | |
Total income tax expense on current year income | 1,774 | 3,325 | |
Reserve for unrecognized tax benefits, Current | 113 | 134 | |
Reserve for unrecognized tax benefits, Deferred | |||
Reserve for unrecognized tax benefits, Total | 113 | 134 | |
Revaluations due to change in enacted tax rates, Current | 120 | ||
Revaluations due to change in enacted tax rates, Deferred | 377 | ||
Revaluations due to change in enacted tax rates | 497 | ||
Adjustment to prior year provision, Current | 74 | 9 | |
Adjustment to prior year provision, Deferred | (35) | 4 | |
Adjustment to prior year provision, Total | 39 | 13 | |
Net excess tax benefit related to stock-based compensation, Current | (23) | (248) | |
Net excess tax benefit related to stock-based compensation, Deferred | |||
Net excess tax benefit related to stock-based compensation, Total | (23) | (248) | |
Income tax expense (benefit) - discrete items, Current | 284 | (105) | |
Income tax expense (benefit) - discrete items, Deferred | 342 | 4 | |
Income tax expense (benefit) - discrete items, Total | 626 | (105) | |
Total income tax expense, Current | 1,692 | 2,527 | 3,750 |
Deferred income taxes | 708 | 697 | 165 |
Total income tax expense | $ 2,400 | $ 3,224 | 3,915 |
Income tax reported in shareholders' equity related to stock-based compensation, current | (273) | ||
Total, Current | 3,477 | ||
Total | $ 3,642 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Apr. 01, 2018 | Apr. 02, 2017 |
Employee wage and benefit accruals | $ 233 | $ 319 |
Accounts receivable and inventory reserves | 180 | 301 |
Deferred rent | 40 | 67 |
Intangible assets | 391 | 590 |
State net operating loss carryforwards | 724 | 829 |
Stock-based compensation | 208 | 299 |
Total gross deferred tax assets | 1,776 | 2,405 |
Less valuation allowance | (724) | (829) |
Deferred tax assets after valuation allowance | 1,052 | 1,576 |
Prepaid expenses | (186) | (265) |
Property, plant and equipment | (334) | (71) |
Total deferred tax liabilities | (520) | (336) |
Net deferred income tax assets | $ 532 | $ 1,240 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Balance at beginning of period | $ 688,000 | $ 211,000 | |
Additions related to current year positions | 113,000 | 134,000 | 195,000 |
Additions related to prior year positions | 96,000 | 343,000 | 16,000 |
Revaluations due to change in enacted tax rates | 120,000 | ||
Reductions for tax positions of prior years | |||
Reductions due to the lapse of the statute of limitations | |||
Payments pursuant to judgements and settlements | |||
Balance at end of period | $ 1,017,000 | $ 688,000 | $ 211,000 |
Note 9 - Income Taxes - Recon55
Note 9 - Income Taxes - Reconciliation of Federal Statutory Provision to the Provision for Financial Reporting Purposes (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 |
Federal statutory rate | 21.00% | 30.75% | 34.00% | 34.00% |
Tax expense at federal statutory rate | $ 1,662 | $ 2,991 | $ 3,653 | |
State income taxes, net of Federal income tax benefit | 126 | 201 | 200 | |
Tax credits | (12) | (10) | (13) | |
Discrete items | 626 | (105) | ||
Net tax effect of book expenses not deductible for tax purposes | 143 | 132 | ||
Other - net, including foreign | (2) | 4 | (57) | |
Income tax expense | $ 2,400 | $ 3,224 | $ 3,915 |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Common Stock, Dividends, Per Share, Declared | $ 0.32 | $ 0.72 | $ 0.57 |
Dividends, Common Stock, Total | $ 3,225 | $ 7,219 | $ 5,709 |
Treasury Stock, Shares, Acquired | 7,000 | 99,000 | 337,000 |
Treasury Stock Acquired, Average Cost Per Share | $ 8.10 | $ 9.58 | $ 8.41 |
Special Cash Dividend [Member] | |||
Common Stock, Dividends, Per Share, Declared | $ 0.40 | $ 0.25 |
Note 11 - Major Customers - Sum
Note 11 - Major Customers - Summary of Major Customers (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] | 12 Months Ended | ||||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |||
Wal-Mart Stores, Inc. [Member] | |||||
Sales, percent | 39.00% | 42.00% | 42.00% | ||
Toys R Us [Member] | |||||
Sales, percent | 15.00% | 19.00% | 23.00% | ||
Amazon.com, Inc. [Member] | |||||
Sales, percent | 11.00% | [1] | [1] | ||
[1] | Amount represented less than 10% of the Company's gross sales for this fiscal year. |
Note 12 - Commitments and Con58
Note 12 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Operating Leases, Rent Expense, Total | $ 1,600,000 | $ 1,500,000 | $ 1,500,000 |
Operating Leases, Future Minimum Payments Due, Total | 3,300,000 | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 1,500,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 1,400,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 473,000 | ||
Royalty Expense | 7,200,000 | $ 7,000,000 | $ 9,000,000 |
Royalty Expense Due | 4,400,000 | ||
Royalty Expense Due in Next Twelve Months | 2,900,000 | ||
Royalty Expense Due in Two Years | $ 1,500,000 |
Note 13 - Related Party Trans59
Note 13 - Related Party Transaction (Details Textual) | 12 Months Ended |
Apr. 01, 2018USD ($) | |
Operating Leases, Rent Expense, Net, Total | $ 63,000 |
JST Capital LLC [Member] | Carousel Facilities [Member] | Cost of Sales [Member] | |
Operating Leases, Rent Expense, Net, Total | 55,000 |
JST Capital LLC [Member] | Carousel Facilities [Member] | Selling, General and Administrative Expenses [Member] | |
Operating Leases, Rent Expense, Net, Total | $ 8,000 |