Balance Sheets

Consolidated Balance Sheets

Assets (IN THOUSANDS except for share data)	July 2001	July 2000
Current assets to date:
Cash and cash equivalents	$ 79	$ 227
Restricted cash	285	278
Receivables, less allowance of $524 and $467	7,229	9,557
Inventories	8,061	6,889
Deferred income taxes	1,937	1,965
Prepaid income taxes	–	546
Other current assets	1,218	771
Total current assets	18,809	20,233
Property, plant and equipment	23,261	21,407
Less–Accumulated depreciation	7,466	5,581
Net property, plant and equipment	15,795	15,826
Deferred financing fees	691	749
Capitalized software costs	1,429	1,588
Excess of cost over net assets acquired, net	6,340	7,403
Other intangible assets, net	1,621	1,952
Total current assets	$44,685	$47,751
Liabilities and Shareholders' Equity Current liabilities:
Accounts payable and other accrued liabilities	$ 8,062	$ 7,080
Note payable to bank	1,743	7,317
Customer deposits	392	54
Current portion of long-term debt	1,026	1,409
Total current liabilities	11,223	15,860
Long-term debt – notes payable, net of discount	16,823	17,582
Long-term debt – other	–	57
Deferred income taxes	1,765	1,793
Other non-current liabilities	783	721
Commitments and contingencies (Note 9)	–	–
Total current liabilities	30,594	36,013
Shareholders' equity
Common stock (voting and non-voting)
Value $.10 per share 2,994,930 issued	300	299
Additional capital	32,345	32,187
Accumulated other comprehensive income–cumulative
Translation adjustment	(154)	(14)
Accumulated deficit	(18,152)	(20,451)
Unearned stock option compensation	(35)	(70)
Treasury stock, 30,176 shares at cost	(213)	(213)
Total shareholders' equity	14,091	11,738
Total liabilities and shareholders' equity	$44,685	$47,751