Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 30, 2018 | Jan. 25, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | CROWN CRAFTS INC | |
Entity Central Index Key | 25,895 | |
Trading Symbol | crws | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 10,122,558 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 30, 2018 | Apr. 01, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 63,000 | $ 215,000 |
Accounts receivable (net of allowances of $614 at December 30, 2018 and $565 at April 1, 2018): | ||
Due from factor | 14,129,000 | 15,447,000 |
Other | 880,000 | 3,051,000 |
Inventories | 22,165,000 | 19,788,000 |
Prepaid expenses | 1,566,000 | 1,253,000 |
Total current assets | 38,803,000 | 39,754,000 |
Property, plant and equipment - at cost: | ||
Vehicles | 257,000 | 268,000 |
Leasehold improvements | 282,000 | 272,000 |
Machinery and equipment | 4,159,000 | 4,010,000 |
Furniture and fixtures | 799,000 | 799,000 |
Property, plant and equipment - gross | 5,497,000 | 5,349,000 |
Less accumulated depreciation | 3,571,000 | 3,571,000 |
Property, plant and equipment - net | 1,926,000 | 1,778,000 |
Finite-lived intangible assets - at cost: | ||
Tradename and trademarks | 3,667,000 | 3,667,000 |
Customer relationships | 7,374,000 | 7,374,000 |
Other finite-lived intangible assets | 3,159,000 | 3,159,000 |
Finite-lived intangible assets gross | 14,200,000 | 14,200,000 |
Less accumulated amortization | 7,556,000 | 6,928,000 |
Finite-lived intangible assets - net | 6,644,000 | 7,272,000 |
Goodwill, Ending Balance | 7,125,000 | 7,125,000 |
Deferred income taxes | 359,000 | 532,000 |
Other | 97,000 | 120,000 |
Total Assets | 54,954,000 | 56,581,000 |
Current liabilities: | ||
Accounts payable | 7,684,000 | 3,766,000 |
Accrued wages and benefits | 1,277,000 | 842,000 |
Accrued royalties | 915,000 | 793,000 |
Dividends payable | 808,000 | 807,000 |
Income taxes payable | 164,000 | 40,000 |
Other accrued liabilities | 381,000 | 540,000 |
Total current liabilities | 11,229,000 | 6,788,000 |
Non-current liabilities: | ||
Long-term debt | 1,865,000 | 9,458,000 |
Reserve for unrecognized tax liabilities | 1,150,000 | 1,017,000 |
Total non-current liabilities | 3,015,000 | 10,475,000 |
Shareholders' equity: | ||
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at December 30, 2018 and April 1, 2018; Issued 12,521,789 shares at December 30, 2018 and 12,493,789 shares at April 1, 2018 | 125,000 | 125,000 |
Additional paid-in capital | 53,155,000 | 52,874,000 |
Treasury stock - at cost - 2,424,231 shares at December 30, 2018 and 2,408,025 shares at April 1, 2018 | (12,326,000) | (12,231,000) |
Accumulated Deficit | (244,000) | (1,450,000) |
Total shareholders' equity | 40,710,000 | 39,318,000 |
Total Liabilities and Shareholders' Equity | $ 54,954,000 | $ 56,581,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 30, 2018 | Apr. 01, 2018 |
Allowance for doubtful accounts receivable | $ 614 | $ 565 |
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) | 12,521,789 | 12,493,789 |
Treasury stock, shares (in shares) | 2,424,231 | 2,408,025 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net sales | $ 18,668 | $ 17,476 | $ 54,664 | $ 47,584 |
Cost of products sold | 13,071 | 12,207 | 38,569 | 33,691 |
Gross profit | 5,597 | 5,269 | 16,095 | 13,893 |
Marketing and administrative expenses | 3,446 | 3,656 | 10,958 | 10,364 |
Income from operations | 2,151 | 1,613 | 5,137 | 3,529 |
Other income (expense): | ||||
Interest expense | (62) | (47) | (249) | (85) |
Interest income | 11 | 80 | ||
Other - net | 2 | 1 | 3 | |
Income before income tax expense | 2,091 | 1,578 | 4,891 | 3,524 |
Income tax expense | 537 | 1,047 | 1,264 | 1,750 |
Net income | $ 1,554 | $ 531 | $ 3,627 | $ 1,774 |
Weighted average shares outstanding: | ||||
Basic (in shares) | 10,098 | 10,086 | 10,084 | 10,068 |
Effect of dilutive securities (in shares) | 1 | 4 | 2 | 7 |
Diluted (in shares) | 10,099 | 10,090 | 10,086 | 10,075 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 0.15 | $ 0.05 | $ 0.36 | $ 0.18 |
Diluted (in dollars per share) | $ 0.15 | $ 0.05 | $ 0.36 | $ 0.18 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
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) | ||||
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 |
Issuance of shares (in shares) | 28,000 | ||||
Issuance of shares | |||||
Stock-based compensation | 281 | 281 | |||
Acquisition of treasury stock (in shares) | (16,206) | ||||
Acquisition of treasury stock | $ (95) | (95) | |||
Net income | 3,627 | 3,627 | |||
Dividends declared on common stock | (2,421) | (2,421) | |||
Balances (in shares) at Dec. 30, 2018 | 12,521,789 | (2,424,231) | |||
Balances at Dec. 30, 2018 | $ 125 | $ (12,326) | $ 53,155 | $ (244) | $ 40,710 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 9 Months Ended | 12 Months Ended |
Dec. 30, 2018 | Apr. 01, 2018 | |
Retained Earnings [Member] | ||
Dividends declared, per share (in dollars per share) | $ 0.24 | $ 0.32 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 30, 2018 | Dec. 31, 2017 | |
Operating activities: | ||
Net income | $ 3,627 | $ 1,774 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of property, plant and equipment | 460 | 183 |
Amortization of intangibles | 628 | 618 |
Deferred income taxes | 173 | 585 |
Reserve for unrecognized tax benefits | 133 | 268 |
Stock-based compensation | 281 | 406 |
Changes in assets and liabilities: | ||
Accounts receivable | 3,489 | 2,850 |
Inventories | (2,377) | (2,759) |
Prepaid expenses | (313) | (198) |
Other assets | 23 | 9 |
Accounts payable | 3,869 | 3,435 |
Accrued liabilities | 522 | 1,463 |
Net cash provided by operating activities | 10,515 | 8,634 |
Investing activities: | ||
Capital expenditures for property, plant and equipment | (560) | (160) |
Payments for acquisitions, net of liabilities assumed | (15,245) | |
Net cash used in investing activities | (560) | (15,405) |
Financing activities: | ||
Repayments under revolving line of credit | (47,080) | (2,909) |
Borrowings under revolving line of credit | 39,487 | 5,220 |
Purchase of treasury stock | (95) | (56) |
Payments on capital leases | (845) | |
Dividends paid | (2,419) | (2,414) |
Net cash used in financing activities | (10,107) | (1,004) |
Net decrease in cash and cash equivalents | (152) | (7,775) |
Cash and cash equivalents at beginning of period | 215 | 7,892 |
Cash and cash equivalents at end of period | 63 | 117 |
Supplemental cash flow information: | ||
Income taxes paid | 900 | 1,068 |
Interest paid | 174 | 8 |
Noncash financing activities: | ||
Property, plant and equipment purchased but unpaid | (48) | |
Dividends declared but unpaid | (808) | (807) |
Compensation paid as common stock | $ 116 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation : not In the opinion of management, the interim unaudited consolidated financial statements contained herein include all adjustments necessary to present fairly the financial position of the Company as of December 30, 2018 three nine December 30, 2018 not may March 31, 2019. 10 April 1, 2018. Fiscal Year: March 31. 2019” “2019” 52 March 31, 2019 2018” “2018” 52 April 1, 2018. Use of Estimates : Cash and Cash Equivalents: three The Company’s credit facility consists of a revolving line of credit under a certain Financing Agreement with The CIT Group/Commercial Services, Inc. (“CIT”), a subsidiary of CIT Group, Inc. (the “CIT Financing Agreement”). The Company classifies a negative balance outstanding under the revolving line of credit as cash, as these amounts are legally owed to the Company and are immediately available to be drawn upon by the Company. There are no Financial Instruments : Advertising Cost s : $295,000 $534,000 three December 30, 2018 December 31, 2017, $968,000 $1.1 nine December 30, 2018 December 31, 2017, Revenue Recognition: A provision for anticipated returns, which are based upon historical returns and claims, is provided through a reduction of net sales and cost of products sold in the reporting period within which the related sales are recorded. Actual returns and claims experienced in a future period may may The Company recognizes revenue associated with unredeemed store credits and gift certificates at the earlier of their redemption by customers, their expiration or when their likelihood of redemption becomes remote, which is generally two Revenue from sales made directly to consumers is recorded when the shipped products have been received by customers, and excludes sales taxes collected on behalf of governmental entities. Revenue from sales made to retailers is recorded when legal title has been passed to the customer based upon the terms of the customer’s purchase order, the Company’s sales invoice, or other associated relevant documents. Such terms usually stipulate that legal title will pass when the shipped products are no 60 “ Segment and Related Information ” 1 Allowances Against Accounts Receivable no Uncollectible Accounts: April 2, 2018, April 2, 2018, nine December 31, 2017, $25,000. Credit Concentration: December 30, 2018 $15.0 $614,000. $14.1 Other Accrued Liabilities: $381,000 December 30, 2018. $202,000 December 30, 2018 $22,000 $9,000. Segment and Related Information: one three nine December 30, 2018 December 31, 2017 Three-Month Periods Ended Nine-Month Periods Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 Bedding, blankets and accessories $ 9,817 $ 11,558 $ 29,873 $ 30,414 Bibs, bath, developmental toy, feeding, baby care and disposable products 8,851 5,918 24,791 17,170 Total net sales $ 18,668 $ 17,476 $ 54,664 $ 47,584 Inventory Valuation: first first The indirect charges and their allocation to the Company’s finished goods inventory are determined as a percentage of projected annual supplier purchases and can impact the Company’s results of operations as purchase volumes fluctuate from quarter to quarter and year to year. The difference between indirect costs incurred and the indirect costs allocated to inventory creates a burden variance, which is generally favorable when actual inventory purchases exceed planned inventory purchases, and is generally unfavorable when actual inventory purchases are lower than planned inventory purchases. On a periodic basis, management reviews the Company’s inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not no may not may Royalty Payments: $1.3 $1.8 three December 30, 2018 December 31, 2017, $3.7 $5.0 nine December 30, 2018 December 31, 2017, Depreciation and Amortization: three eight five twenty Valuation of Long-Lived Assets and Identifiable Intangible Assets: 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 may not Provision for Income Taxes: nine December 30, 2018 December 31, 2017 24.2% 33.0%, The Company files income tax returns in the many jurisdictions within which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations for the Company’s filed income tax returns varies by jurisdiction; tax years open to federal or state audit or other adjustment as of December 30, 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. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company provides 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’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. The Company recognized the effect of the TCJA on the Company’s net deferred income tax assets, which had previously been recorded based upon the pre-TCJA enacted composite federal, state and foreign income tax rate of approximately 37.5% 23.5%, $409,000 three nine December 31, 2017. 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% In evaluating the process regarding the calculation of the state portion of its income tax provision, the Company has taken a tax position that reflects opportunities for more favorable state apportionment percentages, which were then applied to several prior fiscal years and to succeeding fiscal years. After considering all relevant information, the Company believes that the technical merits of this tax position would more likely than not $7,000 $31,000 three December 30, 2018 December 31, 2017, $66,000 $60,000 nine December 30, 2018 December 31, 2017, Because the tax impact of the revised state apportionment percentages are measured net of federal income taxes, the provision in the TCJA that lowered the federal corporate income tax rate to 21% $132,000 three nine December 31, 2017. The Company’s policy is to accrue interest expense and penalties as appropriate on estimated unrecognized tax benefits as a charge to interest expense in the Company’s consolidated statements of income. Interest expense and penalties are not $22,000 $16,000 three December 30, 2018 December 31, 2017, $68,000 $52,000 nine December 30, 2018 December 31, 2017, $25,000 three nine December 31, 2017. During the nine December 30, 2018 December 31, 2017, $12,000 $23,000, The ETR on continuing operations and the discrete income tax charges and benefits set forth above resulted in an overall provision for income taxes of 25.8% 49.7% nine December 30, 2018 December 31, 2017, E arnings Per Share: Recently-Issued Accounting Standards : 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 No. 2014 09 December 15, 2016, August 12, 2015 No. 2015 14, Revenue from Contrac ts with Customers (Topic 606 Deferral of the Effective Date one No. 2014 09. No. 2014 09 April 2, 2018 ASU No. 2014 09 No. 2014 09 “Revenue Recognition,” “Allowances Against Accounts Receivable” “Uncollectible Accounts” 1 No. 2014 09 not On February 25, 2016, No. 2016 02, Leases (Topic 842 No. 2016 02, No. 2016 02 first December 15, 2018. When issued, ASU No. 2016 02 July 30, 2018 No. 2018 11, Leases (Topic 842 No. 2016 02. Although early adoption of ASU No. 2016 02 No. 2018 11 No. 2016 02 April 1, 2019. not 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. Although the Company has not No. 2016 13 not No. 2016 13 The Company has determined that all other ASUs which had become effective as of December 30, 2018, not |
Note 2 - Acquisitions
Note 2 - Acquisitions | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 2 s Carousel: August 4, 2017, August 11, 2017, The Company anticipates that certain synergies, including administrative and capital efficiencies, may $8.7 $845,000 The Carousel Acquisition has been accounted for as a business combination in accordance with FASB ASC Topic 805, Business Combinations. third $5.7 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 The Carousel Acquisition resulted in net sales of $1.4 $5.0 three nine December 30, 2018, $64,000 $178,000 three nine December 30, 2018, 15 10 5 11 S a ssy : December 15, 2017, 14, $6.5 April 2018 The Sassy Acquisition has been accounted for as a business combination in accordance with FASB ASC Topic 805, Business Combinations. third 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 $ 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 In its allocation of the acquisition cost, the Company recognized $320,000 $3.6 $8.6 three nine December 30, 2018, $56,000 $167,000 three nine December 30, 2018, 15 10 11 |
Note 3 - Goodwill, Customer Rel
Note 3 - Goodwill, Customer Relationships and Other Intangible Assets | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 3 – Goodwill , Customer Relationships and Other Intangible Assets Goodwill: two one December 30, 2018 April 1, 2018 $30.0 $22.9 $7.1 The Company measures for impairment the goodwill within its reporting units annually as of the first not 50% first not not April 2, 2018, not Other Intangible Assets: December 30, 2018 April 1, 2018 December 30, 2018 April 1, 2018, three nine December 30, 2018 December 31, 2017 Amortization Expense Gross Amount Accumulated Amortization Three-Month Periods Ended Nine-Month Periods Ended December 30, April 1, December 30, April 1, December 30, December 31, December 30, December 31, 2018 2018 2018 2018 2018 2017 2018 2017 Tradename and trademarks $ 3,667 $ 3,667 $ 1,441 $ 1,270 $ 62 $ 50 $ 171 $ 138 Developed technology 1,100 1,100 156 73 28 28 83 46 Non-compete covenants 458 458 180 122 19 20 58 35 Patents 1,601 1,601 754 673 27 27 81 81 Customer relationships 7,374 7,374 5,025 4,790 78 64 235 318 Total other intangible assets $ 14,200 $ 14,200 $ 7,556 $ 6,928 $ 214 $ 189 $ 628 $ 618 Classification within the accompanying unaudited condensed consolidated statements of income: Cost of products sold $ 2 $ 2 $ 5 $ 5 Marketing and administrative expenses 212 187 623 613 Total amortization expense $ 214 $ 189 $ 628 $ 618 |
Note 4 - Inventories
Note 4 - Inventories | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 4 – Inventories Major classes of inventory were as follows (in thousands): December 30, 2018 April 1, 2018 Raw Materials $ 758 $ 875 Work in Process 62 134 Finished Goods 21,345 18,779 Total inventory $ 22,165 $ 19,788 |
Note 5 - Financing Arrangements
Note 5 - Financing Arrangements | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5 – Financing Arrangements Master Stand-by Claims Purchase Agreement s : May 16, 2017, September 20, 2018 1.65% $1.8 September 18, 2017, 11 $866,000 December 30, 2018. nine December 31, 2017, $480,000 On September 19, 2017, 11 7 1.50% $1.8 three nine October 1, 2017, $81,000 $92,000, The Second Agreement was scheduled to have expired on March 31, 2018, March 14, 2018, $1.8 December 30, 2018. Factoring Agreement s: CIT bears credit losses with respect to assigned accounts receivable from approved customers that are within approved credit limits, while the Company bears the responsibility for adjustments from customers related to returns, allowances, claims and discounts. CIT may may $64,000 $49,000 three December 30, 2018 December 31, 2017, $192,000 $164,000 nine December 30, 2018 December 31, 2017, Credit Facility: December 30, 2018 $26.0 $1.5 0.5% 1.75%, first July 11, 2019, August 7, 2018 July 11, 2022. December 30, 2018, 4.10% December 30, 2018. 2.0% At December 30, 2018, $1.9 2023. no $20.9 April 1, 2018, $9.5 no $13.2 December 30, 2018. |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | N ote 6 – S tock-based Compensation The Company has two 2006 “2006 2014 “2014 2014 2014 may no 2006 2014 may may may The 2014 2014 not ten 10 2014 581,000 2014 December 30, 2018. Stock-based compensation expense is calculated according to FASB ASC Topic 718, Compensation – Stock Compensation $84,000 $129,000 three December 30, 2018 December 31, 2017, $281,000 $406,000 nine December 30, 2018 December 31, 2017, No December 30, 2018. Stock Options: nine December 30, 2018 December 31, 2017: Nine-Month Periods Ended December 30, 2018 December 31, 2017 Weighted- Weighted- Average Number of Average Number of Exercise Options Exercise Options Price Outstanding Price Outstanding Outstanding at Beginning of Period $ 7.93 395,000 $ 8.35 322,500 Granted 5.90 110,000 7.35 140,000 Forfeited 7.83 (47,500 ) 9.05 (67,500 ) Outstanding at End of Period 7.45 457,500 7.93 395,000 Exercisable at End of Period 8.03 292,500 7.94 220,000 As of December 30, 2018, $4,000 no nine December 30, 2018 December 31, 2017. 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 that were awarded to certain employees during the nine December 30, 2018 December 31, 2017, two Nine-Month Periods Ended December 30, 2018 December 31, 2017 Number of options issued 110,000 10,000 20,000 110,000 Grant date June 13, 2018 December 18, 2017 August 4, 2017 June 8, 2017 Dividend yield 5.42 % 4.92 % 5.77 % 4.13 % Expected volatility 25.00 % 25.00 % 25.00 % 25.00 % Risk free interest rate 2.78 % 1.94 % 1.51 % 1.47 % Contractual term (years) 10.00 10.00 10.00 10.00 Expected term (years) 4.00 3.00 3.00 3.00 Forfeiture rate 5.00 % 5.00 % 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 5.90 $ 6.50 $ 5.55 $ 7.75 Fair value per option $ 0.49 $ 0.59 $ 0.50 $ 0.85 For the three December 30, 2018 December 31, 2017, Three-Month Period Ended December 30, 2018 Three-Month Period Ended December 31, 2017 Cost of Marketing & Cost of Marketing & Products Administrative Total Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense Sold Expenses Expense 2017 $ - $ - $ - $ 4 $ 4 $ 8 2018 4 6 10 5 6 11 2019 2 4 6 - - - Total stock option compensation $ 6 $ 10 $ 16 $ 9 $ 10 $ 19 For the nine December 30, 2018 December 31, 2017, Nine-Month Period Ended December 30, 2018 Nine-Month Period Ended December 31, 2017 Cost of Marketing & Cost of Marketing & Products Administrative Total Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense Sold Expenses Expense 2016 $ - $ - $ - $ 6 $ 1 $ 7 2017 6 5 11 20 11 31 2018 14 19 33 11 13 24 2019 5 8 13 - - - Total stock option compensation $ 25 $ 32 $ 57 $ 37 $ 25 $ 62 As of December 30, 2018, $63,000, 9.3 Non-vested Stock Granted to None mployee Directors: Number of Shares Fair Value per Share Grant Date 28,000 $ 5.43 August 8, 2018 28,000 5.50 August 9, 2017 28,000 10.08 August 10, 2016 28,000 8.20 August 12, 2015 These shares vest over a two August 2018 2017, 28,000 $151,000 $157,000, 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: Fair Fiscal Fiscal Value Year Shares Year Per Compensation expense recognized during fiscal year Earned Granted Granted Share 2016 201 7 201 8 201 9 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 table below 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 table below also sets forth the taxes remitted to the appropriate taxing authorities on behalf of such individuals. Vesting of shares during the nine -month periods ended Fiscal Dec ember 30 , 201 8 Decem ber 3 1 , 201 7 Year Shares Shares Aggregate Taxes Shares Aggregate Taxes Granted Granted Vested Value Remitted Vested Value Remitted 2017 41,205 20,601 $ 122,000 $ 39,000 20,604 $ 167,000 $ 56,000 2018 42,250 21,125 124,000 56,000 - - - - - - Total 41,726 $ 246,000 $ 95,000 20,604 $ 167,000 $ 56,000 For the three nine December 30, 2018 December 31, 2017, Three-Month Period Ended December 30, 2018 Three-Month Period Ended December 31, 2017 Nonemployee Total Nonemployee Total Stock Granted in Fiscal Year Employees Directors Expense Employees Directors Expense 2017 $ - $ - $ - $ 27 $ 35 $ 62 2018 29 19 48 29 19 48 2019 - 20 20 - - - Total stock grant compensation $ 29 $ 39 $ 68 $ 56 $ 54 $ 110 Nine-Month Period Ended December 30, 2018 Nine-Month Period Ended December 31, 2017 Non-employee Total Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense Employees Directors Expense 2016 $ - $ - $ - $ - $ 38 $ 38 2017 - 47 47 81 106 187 2018 87 58 145 87 32 119 2019 - 32 32 - - - Total stock grant compensation $ 87 $ 137 $ 224 $ 168 $ 176 $ 344 As of December 30, 2018, $194,000, 8.0 |
Note 7 - Related Party Transact
Note 7 - Related Party Transaction | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 7 – Related Party Transaction On August 4, 2017, $24,000 $72,000 three nine December 30, 2018, three nine December 30, 2018, $20,000 $60,000, $4,000 $12,000, |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 9 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | N ote 8 – Subsequent Event s The Company has evaluated events which have occurred between December 30, 2018 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation : not In the opinion of management, the interim unaudited consolidated financial statements contained herein include all adjustments necessary to present fairly the financial position of the Company as of December 30, 2018 three nine December 30, 2018 not may March 31, 2019. 10 April 1, 2018. |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year: March 31. 2019” “2019” 52 March 31, 2019 2018” “2018” 52 April 1, 2018. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates : |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: three The Company’s credit facility consists of a revolving line of credit under a certain Financing Agreement with The CIT Group/Commercial Services, Inc. (“CIT”), a subsidiary of CIT Group, Inc. (the “CIT Financing Agreement”). The Company classifies a negative balance outstanding under the revolving line of credit as cash, as these amounts are legally owed to the Company and are immediately available to be drawn upon by the Company. There are no |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments : |
Advertising Costs, Policy [Policy Text Block] | Advertising Cost s : $295,000 $534,000 three December 30, 2018 December 31, 2017, $968,000 $1.1 nine December 30, 2018 December 31, 2017, |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition: A provision for anticipated returns, which are based upon historical returns and claims, is provided through a reduction of net sales and cost of products sold in the reporting period within which the related sales are recorded. Actual returns and claims experienced in a future period may may The Company recognizes revenue associated with unredeemed store credits and gift certificates at the earlier of their redemption by customers, their expiration or when their likelihood of redemption becomes remote, which is generally two Revenue from sales made directly to consumers is recorded when the shipped products have been received by customers, and excludes sales taxes collected on behalf of governmental entities. Revenue from sales made to retailers is recorded when legal title has been passed to the customer based upon the terms of the customer’s purchase order, the Company’s sales invoice, or other associated relevant documents. Such terms usually stipulate that legal title will pass when the shipped products are no 60 “ Segment and Related Information ” 1 |
Receivables, Policy [Policy Text Block] | Allowances Against Accounts Receivable no Uncollectible Accounts: April 2, 2018, April 2, 2018, nine December 31, 2017, $25,000. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Concentration: December 30, 2018 $15.0 $614,000. $14.1 |
Other Accrued Liabilities [Policy Text Block] | Other Accrued Liabilities: $381,000 December 30, 2018. $202,000 December 30, 2018 $22,000 $9,000. |
Segment Reporting, Policy [Policy Text Block] | Segment and Related Information: one three nine December 30, 2018 December 31, 2017 Three-Month Periods Ended Nine-Month Periods Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 Bedding, blankets and accessories $ 9,817 $ 11,558 $ 29,873 $ 30,414 Bibs, bath, developmental toy, feeding, baby care and disposable products 8,851 5,918 24,791 17,170 Total net sales $ 18,668 $ 17,476 $ 54,664 $ 47,584 |
Inventory, Policy [Policy Text Block] | Inventory Valuation: first first The indirect charges and their allocation to the Company’s finished goods inventory are determined as a percentage of projected annual supplier purchases and can impact the Company’s results of operations as purchase volumes fluctuate from quarter to quarter and year to year. The difference between indirect costs incurred and the indirect costs allocated to inventory creates a burden variance, which is generally favorable when actual inventory purchases exceed planned inventory purchases, and is generally unfavorable when actual inventory purchases are lower than planned inventory purchases. On a periodic basis, management reviews the Company’s inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not no may not may |
Royalty Payments [Policy Text Block] | Royalty Payments: $1.3 $1.8 three December 30, 2018 December 31, 2017, $3.7 $5.0 nine December 30, 2018 December 31, 2017, |
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 Assets: 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 may not |
Income Tax, Policy [Policy Text Block] | Provision for Income Taxes: nine December 30, 2018 December 31, 2017 24.2% 33.0%, The Company files income tax returns in the many jurisdictions within which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations for the Company’s filed income tax returns varies by jurisdiction; tax years open to federal or state audit or other adjustment as of December 30, 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. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company provides 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’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. The Company recognized the effect of the TCJA on the Company’s net deferred income tax assets, which had previously been recorded based upon the pre-TCJA enacted composite federal, state and foreign income tax rate of approximately 37.5% 23.5%, $409,000 three nine December 31, 2017. 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% In evaluating the process regarding the calculation of the state portion of its income tax provision, the Company has taken a tax position that reflects opportunities for more favorable state apportionment percentages, which were then applied to several prior fiscal years and to succeeding fiscal years. After considering all relevant information, the Company believes that the technical merits of this tax position would more likely than not $7,000 $31,000 three December 30, 2018 December 31, 2017, $66,000 $60,000 nine December 30, 2018 December 31, 2017, Because the tax impact of the revised state apportionment percentages are measured net of federal income taxes, the provision in the TCJA that lowered the federal corporate income tax rate to 21% $132,000 three nine December 31, 2017. The Company’s policy is to accrue interest expense and penalties as appropriate on estimated unrecognized tax benefits as a charge to interest expense in the Company’s consolidated statements of income. Interest expense and penalties are not $22,000 $16,000 three December 30, 2018 December 31, 2017, $68,000 $52,000 nine December 30, 2018 December 31, 2017, $25,000 three nine December 31, 2017. During the nine December 30, 2018 December 31, 2017, $12,000 $23,000, The ETR on continuing operations and the discrete income tax charges and benefits set forth above resulted in an overall provision for income taxes of 25.8% 49.7% nine December 30, 2018 December 31, 2017, |
Earnings Per Share, Policy [Policy Text Block] | E arnings Per Share: |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently-Issued Accounting Standards : 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 No. 2014 09 December 15, 2016, August 12, 2015 No. 2015 14, Revenue from Contrac ts with Customers (Topic 606 Deferral of the Effective Date one No. 2014 09. No. 2014 09 April 2, 2018 ASU No. 2014 09 No. 2014 09 “Revenue Recognition,” “Allowances Against Accounts Receivable” “Uncollectible Accounts” 1 No. 2014 09 not On February 25, 2016, No. 2016 02, Leases (Topic 842 No. 2016 02, No. 2016 02 first December 15, 2018. When issued, ASU No. 2016 02 July 30, 2018 No. 2018 11, Leases (Topic 842 No. 2016 02. Although early adoption of ASU No. 2016 02 No. 2018 11 No. 2016 02 April 1, 2019. not 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. Although the Company has not No. 2016 13 not No. 2016 13 The Company has determined that all other ASUs which had become effective as of December 30, 2018, not |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three-Month Periods Ended Nine-Month Periods Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 Bedding, blankets and accessories $ 9,817 $ 11,558 $ 29,873 $ 30,414 Bibs, bath, developmental toy, feeding, baby care and disposable products 8,851 5,918 24,791 17,170 Total net sales $ 18,668 $ 17,476 $ 54,664 $ 47,584 |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 9 Months Ended |
Dec. 30, 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 3 - Goodwill, Customer R_2
Note 3 - Goodwill, Customer Relationships and Other Intangible Assets (Tables) | 9 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Amortization Expense Gross Amount Accumulated Amortization Three-Month Periods Ended Nine-Month Periods Ended December 30, April 1, December 30, April 1, December 30, December 31, December 30, December 31, 2018 2018 2018 2018 2018 2017 2018 2017 Tradename and trademarks $ 3,667 $ 3,667 $ 1,441 $ 1,270 $ 62 $ 50 $ 171 $ 138 Developed technology 1,100 1,100 156 73 28 28 83 46 Non-compete covenants 458 458 180 122 19 20 58 35 Patents 1,601 1,601 754 673 27 27 81 81 Customer relationships 7,374 7,374 5,025 4,790 78 64 235 318 Total other intangible assets $ 14,200 $ 14,200 $ 7,556 $ 6,928 $ 214 $ 189 $ 628 $ 618 Classification within the accompanying unaudited condensed consolidated statements of income: Cost of products sold $ 2 $ 2 $ 5 $ 5 Marketing and administrative expenses 212 187 623 613 Total amortization expense $ 214 $ 189 $ 628 $ 618 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 9 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 30, 2018 April 1, 2018 Raw Materials $ 758 $ 875 Work in Process 62 134 Finished Goods 21,345 18,779 Total inventory $ 22,165 $ 19,788 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Nine-Month Periods Ended December 30, 2018 December 31, 2017 Weighted- Weighted- Average Number of Average Number of Exercise Options Exercise Options Price Outstanding Price Outstanding Outstanding at Beginning of Period $ 7.93 395,000 $ 8.35 322,500 Granted 5.90 110,000 7.35 140,000 Forfeited 7.83 (47,500 ) 9.05 (67,500 ) Outstanding at End of Period 7.45 457,500 7.93 395,000 Exercisable at End of Period 8.03 292,500 7.94 220,000 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine-Month Periods Ended December 30, 2018 December 31, 2017 Number of options issued 110,000 10,000 20,000 110,000 Grant date June 13, 2018 December 18, 2017 August 4, 2017 June 8, 2017 Dividend yield 5.42 % 4.92 % 5.77 % 4.13 % Expected volatility 25.00 % 25.00 % 25.00 % 25.00 % Risk free interest rate 2.78 % 1.94 % 1.51 % 1.47 % Contractual term (years) 10.00 10.00 10.00 10.00 Expected term (years) 4.00 3.00 3.00 3.00 Forfeiture rate 5.00 % 5.00 % 5.00 % 5.00 % Exercise price (grant-date closing price) per option $ 5.90 $ 6.50 $ 5.55 $ 7.75 Fair value per option $ 0.49 $ 0.59 $ 0.50 $ 0.85 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three-Month Period Ended December 30, 2018 Three-Month Period Ended December 31, 2017 Cost of Marketing & Cost of Marketing & Products Administrative Total Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense Sold Expenses Expense 2017 $ - $ - $ - $ 4 $ 4 $ 8 2018 4 6 10 5 6 11 2019 2 4 6 - - - Total stock option compensation $ 6 $ 10 $ 16 $ 9 $ 10 $ 19 Nine-Month Period Ended December 30, 2018 Nine-Month Period Ended December 31, 2017 Cost of Marketing & Cost of Marketing & Products Administrative Total Products Administrative Total Options Granted in Fiscal Year Sold Expenses Expense Sold Expenses Expense 2016 $ - $ - $ - $ 6 $ 1 $ 7 2017 6 5 11 20 11 31 2018 14 19 33 11 13 24 2019 5 8 13 - - - Total stock option compensation $ 25 $ 32 $ 57 $ 37 $ 25 $ 62 |
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity [Table Text Block] | Number of Shares Fair Value per Share Grant Date 28,000 $ 5.43 August 8, 2018 28,000 5.50 August 9, 2017 28,000 10.08 August 10, 2016 28,000 8.20 August 12, 2015 |
Schedule of Nonvested Share Activity [Table Text Block] | Three-Month Period Ended December 30, 2018 Three-Month Period Ended December 31, 2017 Nonemployee Total Nonemployee Total Stock Granted in Fiscal Year Employees Directors Expense Employees Directors Expense 2017 $ - $ - $ - $ 27 $ 35 $ 62 2018 29 19 48 29 19 48 2019 - 20 20 - - - Total stock grant compensation $ 29 $ 39 $ 68 $ 56 $ 54 $ 110 Nine-Month Period Ended December 30, 2018 Nine-Month Period Ended December 31, 2017 Non-employee Total Non-employee Total Stock Granted in Fiscal Year Employees Directors Expense Employees Directors Expense 2016 $ - $ - $ - $ - $ 38 $ 38 2017 - 47 47 81 106 187 2018 87 58 145 87 32 119 2019 - 32 32 - - - Total stock grant compensation $ 87 $ 137 $ 224 $ 168 $ 176 $ 344 |
Performance Shares [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Fair Fiscal Fiscal Value Year Shares Year Per Compensation expense recognized during fiscal year Earned Granted Granted Share 2016 201 7 201 8 201 9 2016 41,205 2017 $ 7.865 $ 108,000 $ 108,000 $ 108,000 $ - 2017 42,250 2018 8.271 - 116,000 116,000 116,000 Vesting of shares during the nine -month periods ended Fiscal Dec ember 30 , 201 8 Decem ber 3 1 , 201 7 Year Shares Shares Aggregate Taxes Shares Aggregate Taxes Granted Granted Vested Value Remitted Vested Value Remitted 2017 41,205 20,601 $ 122,000 $ 39,000 20,604 $ 167,000 $ 56,000 2018 42,250 21,125 124,000 56,000 - - - - - - Total 41,726 $ 246,000 $ 95,000 20,604 $ 167,000 $ 56,000 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Apr. 01, 2018 | |
Provision for Doubtful Accounts | $ 25,000 | |||||
Accounts Receivable, Net, Current, Total | $ 15,000,000 | $ 15,000,000 | ||||
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | 614,000 | 614,000 | ||||
Due From Factor | 14,129,000 | 14,129,000 | $ 15,447,000 | |||
Other Accrued Liabilities, Current | 381,000 | $ 381,000 | $ 540,000 | |||
Number of Operating Segments | 1 | |||||
Cost of Goods and Services Sold, Total | 13,071,000 | $ 12,207,000 | $ 38,569,000 | $ 33,691,000 | ||
Estimated Effective Income Tax Rate Reconciliation, Continuing Operations, Before Discrete Changes, Percent | 24.20% | 33.00% | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 30.75% | ||||
Effective Income Tax Rate Reconciliation, at Federal, State, and Foreign Statutory Income Tax Rate, Percent | 37.50% | |||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | 23.50% | |||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 409,000 | $ 409,000 | ||||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 7,000 | 31,000 | $ 66,000 | 60,000 | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 132,000 | 132,000 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 22,000 | 16,000 | 68,000 | 52,000 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest, Increases Resulting From Current Period Tax Positions | 25,000 | 25,000 | ||||
Income Tax Expense (Benefit), Reserve for Unrecognized Tax Benefits, Net Discrete Charge | $ 12,000 | $ (23,000) | ||||
Estimated Effective Income Tax Rate Reconciliation, Percent | 25.80% | 49.70% | ||||
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 | |||||
Royalty [Member] | ||||||
Cost of Goods and Services Sold, Total | 1,300,000 | 1,800,000 | $ 3,700,000 | $ 5,000,000 | ||
Other Accrued Liabilities [Member] | Up-front Payment Arrangement [Member] | ||||||
Deferred Revenue, Current | $ 202,000 | |||||
Other Accrued Liabilities [Member] | Customer Returns [Member] | ||||||
Deferred Revenue, Current | 22,000 | 22,000 | ||||
Other Accrued Liabilities [Member] | Store Credits and Gift Certificates [Member] | ||||||
Deferred Revenue, Current | 9,000 | 9,000 | ||||
Selling, General and Administrative Expenses [Member] | ||||||
Advertising Expense | $ 295,000 | $ 534,000 | $ 968,000 | $ 1,100,000 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Segment and Related Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net sales | $ 18,668 | $ 17,476 | $ 54,664 | $ 47,584 |
Bedding, Blankets, And Accessories [Member] | ||||
Net sales | 9,817 | 11,558 | 29,873 | 30,414 |
Bibs, Bath, And Disposable Products [Member] | ||||
Net sales | $ 8,851 | $ 5,918 | $ 24,791 | $ 17,170 |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) - USD ($) | Dec. 15, 2017 | Aug. 04, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Apr. 01, 2018 |
Payments to Acquire Businesses, Gross | $ 15,245,000 | ||||||
Repayments of Long-term Capital Lease Obligations | 845,000 | ||||||
Goodwill, Ending Balance | $ 7,125,000 | 7,125,000 | $ 7,125,000 | ||||
Amortization of Intangible Assets, Total | 214,000 | $ 189,000 | 628,000 | 618,000 | |||
Noncompete Agreements [Member] | |||||||
Amortization of Intangible Assets, Total | 19,000 | 20,000 | 58,000 | 35,000 | |||
Customer Relationships [Member] | |||||||
Amortization of Intangible Assets, Total | 78,000 | 64,000 | 235,000 | 318,000 | |||
Selling, General and Administrative Expenses [Member] | |||||||
Amortization of Intangible Assets, Total | 212,000 | $ 187,000 | 623,000 | $ 613,000 | |||
Carousel Designs, LLC. Acquisition [Member] | |||||||
Payments to Acquire Businesses, Gross | $ 8,700,000 | ||||||
Repayments of Long-term Capital Lease Obligations | 845,000 | ||||||
Goodwill, Ending Balance | $ 5,679,000 | ||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 1,400,000 | $ 5,000,000 | |||||
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] | |||||||
Amortization of Intangible Assets, Total | 64,000 | $ 178,000 | |||||
Sassy Acquisition [Member] | |||||||
Payments to Acquire Businesses, Gross | $ 6,500,000 | ||||||
Goodwill, Ending Balance | $ 320,000 | ||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 3,600,000 | $ 8,600,000 | |||||
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 | $ 167,000 |
Note 2 - Acquisitions - Assets
Note 2 - Acquisitions - Assets Acquired and Liabilities Assumed for Carousel Designs LLC (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Apr. 01, 2018 | Aug. 04, 2017 |
Goodwill, Ending Balance | $ 7,125 | $ 7,125 | |
Carousel Designs, LLC. Acquisition [Member] | |||
Inventory | $ 967 | ||
Prepaid expenses | 5 | ||
Fixed assets | 1,068 | ||
Total tangible assets | 2,040 | ||
Amortizable intangible assets | 2,560 | ||
Goodwill, Ending Balance | 5,679 | ||
Total acquired assets | 10,279 | ||
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 | ||
Carousel Designs, LLC. Acquisition [Member] | Trade Names [Member] | |||
Amortizable intangible assets | 1,100 | ||
Carousel Designs, LLC. Acquisition [Member] | Developed Technology Rights [Member] | |||
Amortizable intangible assets | 1,100 | ||
Carousel Designs, LLC. Acquisition [Member] | Noncompete Agreements [Member] | |||
Amortizable intangible assets | $ 360 |
Note 2 - Acquisitions - Asset_2
Note 2 - Acquisitions - Assets Acquired and Liabilities Assumed for Sassy (Details) - USD ($) | Dec. 30, 2018 | Apr. 01, 2018 | Dec. 15, 2017 |
Goodwill, Ending Balance | $ 7,125,000 | $ 7,125,000 | |
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, Ending Balance | 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 3 - Goodwill, Customer R_3
Note 3 - Goodwill, Customer Relationships and Other Intangible Assets (Details Textual) $ in Thousands | 9 Months Ended | ||
Dec. 30, 2018USD ($) | Apr. 02, 2018USD ($) | Apr. 01, 2018USD ($) | |
Number of Reportable Segments | 2 | ||
Goodwill, Gross | $ 30,000 | $ 30,000 | |
Goodwill, Impaired, Accumulated Impairment Loss | 22,900 | $ 0 | 22,900 |
Goodwill, Ending Balance | $ 7,125 | $ 7,125 |
Note 3 - Goodwill, Customer R_4
Note 3 - Goodwill, Customer Relationships and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Apr. 01, 2018 | |
Finite-lived intangible assets, gross amount | $ 14,200 | $ 14,200 | $ 14,200 | ||
Finite-lived intangible assets, accumulated amortization | 7,556 | 7,556 | 6,928 | ||
Amortization expense | 214 | $ 189 | 628 | $ 618 | |
Cost of Sales [Member] | |||||
Amortization expense | 2 | 2 | 5 | 5 | |
Selling, General and Administrative Expenses [Member] | |||||
Amortization expense | 212 | 187 | 623 | 613 | |
Trademarks and Trade Names [Member] | |||||
Finite-lived intangible assets, gross amount | 3,667 | 3,667 | 3,667 | ||
Finite-lived intangible assets, accumulated amortization | 1,441 | 1,441 | 1,270 | ||
Amortization expense | 62 | 50 | 171 | 138 | |
Developed Technology [Member] | |||||
Finite-lived intangible assets, gross amount | 1,100 | 1,100 | 1,100 | ||
Finite-lived intangible assets, accumulated amortization | 156 | 156 | 73 | ||
Amortization expense | 28 | 28 | 83 | 46 | |
Noncompete Agreements [Member] | |||||
Finite-lived intangible assets, gross amount | 458 | 458 | 458 | ||
Finite-lived intangible assets, accumulated amortization | 180 | 180 | 122 | ||
Amortization expense | 19 | 20 | 58 | 35 | |
Patents [Member] | |||||
Finite-lived intangible assets, gross amount | 1,601 | 1,601 | 1,601 | ||
Finite-lived intangible assets, accumulated amortization | 754 | 754 | 673 | ||
Amortization expense | 27 | 27 | 81 | 81 | |
Customer Relationships [Member] | |||||
Finite-lived intangible assets, gross amount | 7,374 | 7,374 | 7,374 | ||
Finite-lived intangible assets, accumulated amortization | 5,025 | 5,025 | $ 4,790 | ||
Amortization expense | $ 78 | $ 64 | $ 235 | $ 318 |
Note 4 - Inventories - Componen
Note 4 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Apr. 01, 2018 |
Raw Materials | $ 758 | $ 875 |
Work in Process | 62 | 134 |
Finished Goods | 21,345 | 18,779 |
Total inventory | $ 22,165 | $ 19,788 |
Note 5 - Financing Arrangemen_2
Note 5 - Financing Arrangements (Details Textual) - USD ($) | Sep. 19, 2017 | May 16, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Oct. 01, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Oct. 01, 2017 | Apr. 01, 2018 | Sep. 18, 2017 |
Selling, General and Administrative Expense, Total | $ 3,446,000 | $ 3,656,000 | $ 10,958,000 | $ 10,364,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 20,900,000 | 20,900,000 | $ 13,200,000 | |||||||
Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 26,000,000 | 26,000,000 | ||||||||
Long-term Line of Credit, Total | 1,900,000 | 1,900,000 | 9,500,000 | |||||||
Letters of Credit Outstanding, Amount | $ 0 | $ 0 | $ 0 | |||||||
Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument Basis Spread Below Variable Rate | 0.50% | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.10% | 4.10% | ||||||||
Letter of Credit [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500,000 | $ 1,500,000 | ||||||||
Factoring Fees [Member] | ||||||||||
Selling, General and Administrative Expense, Total | $ 64,000 | $ 49,000 | $ 192,000 | 164,000 | ||||||
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 | $ 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 | $ 81,000 | $ 92,000 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Aug. 31, 2018 | Aug. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Allocated Share-based Compensation Expense, Total | $ 84,000 | $ 129,000 | $ 281,000 | $ 406,000 | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 4,000 | 4,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 4,000 | $ 4,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 240 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 41,726 | 20,604 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 246,000 | $ 167,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | 194,000 | 194,000 | ||||
Employee Stock Option [Member] | ||||||
Allocated Share-based Compensation Expense, Total | 16,000 | $ 19,000 | $ 57,000 | $ 62,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 2 years | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 63,000 | $ 63,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 279 days | |||||
Employee Stock Option [Member] | Non Employee Directors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
Restricted Stock [Member] | Non Employee Directors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 28,000 | 28,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 151,000 | $ 157,000 | ||||
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 | |||||
The 2014 Omnibus Equity Compensation Plan [Member] | ||||||
Common Stock, Capital Shares Reserved for Future Issuance | 581,000 | 581,000 | ||||
The 2014 Omnibus Equity Compensation Plan [Member] | Employee Stock Option [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 9 Months Ended | |
Dec. 30, 2018 | Dec. 31, 2017 | |
Outstanding, Weighted-average exercise price, beginning balance (in dollars per share) | $ 7.93 | $ 8.35 |
Outstanding, Shares, beginning balance (in shares) | 395,000 | 322,500 |
Granted, Weighted-average exercise price (in dollars per share) | $ 5.90 | $ 7.35 |
Number of options issued (in shares) | 110,000 | 140,000 |
Forfeited, Weighted-average exercise price (in dollars per share) | $ 7.83 | $ 9.05 |
Forfeited, Shares (in shares) | (47,500) | (67,500) |
Outstanding, Weighted-average exercise price, ending balance (in dollars per share) | $ 7.45 | $ 7.93 |
Outstanding, Shares, ending balance (in shares) | 457,500 | 395,000 |
Exercisable, Weighted-average exercise price (in dollars per share) | $ 8.03 | $ 7.94 |
Exercisable, Shares (in shares) | 292,500 | 220,000 |
Note 6 - Stock-based Compensa_5
Note 6 - Stock-based Compensation - Estimated Fair Value of Stock Options Assumptions (Details) - $ / shares | 9 Months Ended | |
Dec. 30, 2018 | Dec. 31, 2017 | |
Number of options issued (in shares) | 110,000 | 140,000 |
June 13, 2018 [Member] | ||
Number of options issued (in shares) | 110,000 | |
Grant date | Jun. 13, 2018 | |
Dividend yield | 5.42% | |
Expected volatility | 25.00% | |
Risk free interest rate | 2.78% | |
Contractual term (years) (Year) | 10 years | |
Expected term (years) (Year) | 4 years | |
Forfeiture rate | 5.00% | |
Exercise price (grant-date closing price) per option (in dollars per share) | $ 5.90 | |
Fair value per option (in dollars per share) | $ 0.49 | |
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 |
Note 6 - Stock-based Compensa_6
Note 6 - Stock-based Compensation - Stock Option Compensation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Allocated share-based compensation | $ 84,000 | $ 129,000 | $ 281,000 | $ 406,000 |
Employee Stock Option [Member] | ||||
Allocated share-based compensation | 16,000 | 19,000 | 57,000 | 62,000 |
Employee Stock Option [Member] | Cost of Sales [Member] | ||||
Allocated share-based compensation | 6,000 | 9,000 | 25,000 | 37,000 |
Employee Stock Option [Member] | Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation | 10,000 | 10,000 | 32,000 | 25,000 |
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | ||||
Allocated share-based compensation | 8,000 | 11,000 | 31,000 | |
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Cost of Sales [Member] | ||||
Allocated share-based compensation | 4,000 | 6,000 | 20,000 | |
Employee Stock Option [Member] | Fiscal Year 2017 [Member] | Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation | 4,000 | 5,000 | 11,000 | |
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | ||||
Allocated share-based compensation | 7,000 | |||
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Cost of Sales [Member] | ||||
Allocated share-based compensation | 6,000 | |||
Employee Stock Option [Member] | Fiscal Year 2016 [Member] | Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation | 1,000 | |||
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | ||||
Allocated share-based compensation | 10,000 | 11,000 | 33,000 | 24,000 |
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | Cost of Sales [Member] | ||||
Allocated share-based compensation | 4,000 | 5,000 | 14,000 | 11,000 |
Employee Stock Option [Member] | Fiscal Year 2018 [Member] | Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation | 6,000 | $ 6,000 | 19,000 | $ 13,000 |
Employee Stock Option [Member] | Fiscal Year 2019 [Member] | ||||
Allocated share-based compensation | 6,000 | 13,000 | ||
Employee Stock Option [Member] | Fiscal Year 2019 [Member] | Cost of Sales [Member] | ||||
Allocated share-based compensation | 2,000 | 5,000 | ||
Employee Stock Option [Member] | Fiscal Year 2019 [Member] | Selling, General and Administrative Expenses [Member] | ||||
Allocated share-based compensation | $ 4,000 | $ 8,000 |
Note 6 - Stock-based Compensa_7
Note 6 - Stock-based Compensation - Non-vested Stock to Directors (Details) - Non Employee Directors [Member] - Non-vested Stock Grants [Member] | 9 Months Ended |
Dec. 31, 2018$ / sharesshares | |
August 8, 2018 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 5.43 |
Number of Shares (in shares) | shares | 28,000 |
August 9 2017 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 5.50 |
Number of Shares (in shares) | shares | 28,000 |
August 10, 2016 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 10.08 |
Number of Shares (in shares) | shares | 28,000 |
August 12, 2015 [Member] | |
Fair Value Per Share (in dollars per share) | $ / shares | $ 8.20 |
Number of Shares (in shares) | shares | 28,000 |
Note 6 - Stock-based Compensa_8
Note 6 - Stock-based Compensation - Grants and Compensation Expense in Connection With the Performance Bonus Plan (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Apr. 01, 2018 | Apr. 02, 2017 | Apr. 03, 2016 | |
Allocated share-based compensation | $ 84,000 | $ 129,000 | $ 281,000 | $ 406,000 | ||||
Shares Vested (in shares) | 41,726 | 20,604 | ||||||
Shares Vested, Aggregate Value | $ 246,000 | $ 167,000 | ||||||
Shares Vested, Taxes Remitted | $ 95,000 | $ 56,000 | ||||||
Performance Shares [Member] | Earned in Fiscal Year 2016, Granted in Fiscal Year 2017 [Member] | ||||||||
Number of Shares (in shares) | 41,205 | |||||||
Fair Value Per Share (in dollars per share) | $ 7.865 | |||||||
Allocated share-based compensation | $ 108,000 | $ 108,000 | $ 108,000 | |||||
Shares Vested (in shares) | 20,601 | 20,604 | ||||||
Shares Vested, Aggregate Value | $ 122,000 | $ 167,000 | ||||||
Shares Vested, Taxes Remitted | $ 39,000 | $ 56,000 | ||||||
Performance Shares [Member] | Earned in Fiscal Year 2017, Granted in Fiscal Year 2018 [Member] | ||||||||
Number of Shares (in shares) | 42,250 | |||||||
Fair Value Per Share (in dollars per share) | $ 8.271 | |||||||
Allocated share-based compensation | $ 116,000 | $ 116,000 | ||||||
Shares Vested (in shares) | 21,125 | |||||||
Shares Vested, Aggregate Value | $ 124,000 | |||||||
Shares Vested, Taxes Remitted | $ 56,000 | |||||||
Performance Shares [Member] | Earned in Fiscal Year 2017, Granted in Fiscal Year 2018 [Member] | Scenario, Forecast [Member] | ||||||||
Allocated share-based compensation | $ 116,000 |
Note 6 - Stock-based Compensa_9
Note 6 - Stock-based Compensation - Compensation Expense Associated with Non-vested Stock Grants (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Allocated share-based compensation | $ 84,000 | $ 129,000 | $ 281,000 | $ 406,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | ||||
Allocated share-based compensation | 68,000 | 110,000 | 224,000 | 344,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Employee [Member] | ||||
Allocated share-based compensation | 29,000 | 56,000 | 87,000 | 168,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Non Employee Directors [Member] | ||||
Allocated share-based compensation | 39,000 | 54,000 | 137,000 | 176,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | ||||
Allocated share-based compensation | 62,000 | 47,000 | 187,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Employee [Member] | ||||
Allocated share-based compensation | 27,000 | 81,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2017 [Member] | Non Employee Directors [Member] | ||||
Allocated share-based compensation | 35,000 | 47,000 | 106,000 | |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | ||||
Allocated share-based compensation | 38,000 | |||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Employee [Member] | ||||
Allocated share-based compensation | ||||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2016 [Member] | Non Employee Directors [Member] | ||||
Allocated share-based compensation | 38,000 | |||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | ||||
Allocated share-based compensation | 48,000 | 48,000 | 145,000 | 119,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | Employee [Member] | ||||
Allocated share-based compensation | 29,000 | 29,000 | 87,000 | 87,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2018 [Member] | Non Employee Directors [Member] | ||||
Allocated share-based compensation | 19,000 | $ 19,000 | 58,000 | $ 32,000 |
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2019 [Member] | ||||
Allocated share-based compensation | 20,000 | 32,000 | ||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2019 [Member] | Employee [Member] | ||||
Allocated share-based compensation | ||||
Selling, General and Administrative Expenses [Member] | Non-vested Stock Grants [Member] | Fiscal Year 2019 [Member] | Non Employee Directors [Member] | ||||
Allocated share-based compensation | $ 20,000 | $ 32,000 |
Note 7 - Related Party Transa_2
Note 7 - Related Party Transaction (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended |
Dec. 30, 2018 | Dec. 30, 2018 | |
Operating Leases, Rent Expense, Net, Total | $ 24,000 | $ 72,000 |
JST Capital LLC [Member] | Carousel Facilities [Member] | Cost of Sales [Member] | ||
Operating Leases, Rent Expense, Net, Total | 20,000 | 60,000 |
JST Capital LLC [Member] | Carousel Facilities [Member] | Selling, General and Administrative Expenses [Member] | ||
Operating Leases, Rent Expense, Net, Total | $ 4,000 | $ 12,000 |