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ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 30, 2019
No. 2014-09  
Schedule of unaudited condensed consolidated financial statements

The effect of adoption of ASC 606 on our unaudited condensed consolidated financial statements was as follows for the periods indicated (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 30, 2019

 

 

As Reported

 

Impact of Adoption

 

Balances without Adoption of ASC 606

Net sales

    

$

155,353

    

$

(4,044)

    

$

151,309

Cost of goods sold

 

 

78,726

 

 

(1,644)

    

 

77,082

Gross profit

 

 

76,627

 

 

(2,400)

    

 

74,227

Selling, general, and administrative expenses

 

 

67,843

 

 

152

    

 

67,995

Operating income

 

 

8,784

 

 

(2,552)

    

 

6,232

Interest expense

 

 

(6,067)

 

 

 —

    

 

(6,067)

Other income

 

 

63

 

 

 —

    

 

63

Income (loss) before income taxes

 

 

2,780

 

 

(2,552)

    

 

228

Income tax (expense) benefit

 

 

(613)

 

 

626

    

 

13

Net income (loss)

 

$

2,167

 

$

(1,926)

    

$

241

 

 

 

 

 

 

 

 

 

 

 

 

 

March 30, 2019

 

 

As Reported

 

Impact of Adoption

 

Balances without Adoption of ASC 606

ASSETS

 

 

 

 

 

 

 

 

 

Accounts receivable, net

    

$

62,998

    

$

(5,204)

    

$

57,794

Inventory

 

 

164,299

 

 

1,991

 

 

166,290

Prepaid expenses and other current assets

 

 

20,069

 

 

(139)

 

 

19,930

Deferred charges and other assets

 

 

1,122

 

 

15

 

 

1,137

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

 

Accrued expenses and other current liabilities

 

 

44,583

 

 

(866)

 

 

43,717

Taxes payable

 

 

278

 

 

(45)

 

 

233

Accumulated deficit

 

 

(237,596)

 

 

(2,426)

 

 

(240,022)