2005

2004

ASSETS

Current assets:

Cash and cash equivalents

$ 10,355

$ 7,972

Accounts receivable, less allowance for doubtful accounts of $468 and $1,118, respectively and promotional allowances of $2,092 and $2,368, respectively

9,508

11,173

Inventories

21,324

22,478

Prepaid expenses

401

449

Refundable income taxes

552

—  

Deferred income taxes

1,598

2,329

Total current assets

43,738

44,401

Property, plant and equipment, net of accumulated depreciation of $50,731 and $47,120, respectively

14,519

16,755

Other non-current assets

10,239

9,890

Deferred income taxes

4,467

3,896

Total assets

$ 72,963

$ 74,942

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$ 3,806

$ 3,737

Accrued payroll, advertising and other expenses

5,314

5,847

Income taxes payable

—  

913

Current portion of non-current liabilities

2,721

2,168

Total current liabilities

11,841

12,665

Non-current liabilities

12,860

13,613

Contingencies and commitments (Notes 3, 5 and 6)

Shareholders’ equity:

Preferred stock, without par value

Authorized - 1,000 shares

Issued and outstanding – none

—  

—  

Common stock, $1.00 par value

Authorized - 20,000 shares

Issued and outstanding – 9,986 in 2005 and 10,002 in 2004

10,043

10,059

Capital in excess of par value

14,394

14,506

Retained earnings

25,889

26,832

Accumulated other comprehensive loss

(2,064 )

(2,733 )

Total shareholders’ equity

48,262

48,664

$ 72,963

$ 74,942