v3.24.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2023
Jan. 01, 2023
Dec. 31, 2023
Jan. 01, 2023
Jan. 01, 2023
Operating activities:          
Net income $ 1,702 $ 1,348 $ 3,890 $ 4,822 $ 4,822
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation of property, plant and equipment     647   499
Amortization of intangibles 152 120 451   361
Amortization of right of use assets     3,208   1,330
Deferred income taxes     (1,106)   195
Gain on insurance proceeds received for damage to equipment 0 0 0 (34) (34)
Gain on sale of property, plant and equipment (58) 0 (58) (2) (2)
Reserve for unrecognized tax liabilities     56   98
Stock-based compensation     573   844
Changes in assets and liabilities:          
Accounts receivable     765   4,352
Inventories     (1,112)   (5,129)
Prepaid expenses     (1,130)   (470)
Other assets     (14)   2
Lease liabilities     (2,497)   (1,461)
Accounts payable     (113)   (39)
Accrued liabilities     542   (998)
Net cash provided by operating activities     4,102   4,370
Cash used in investing activities:          
Capital expenditures for property, plant and equipment     (662)   (399)
Insurance proceeds received for damage to equpment     0   34
Proceeds from sale of property, plant and equipment     105   2
Aggregate adjustment from the Manhattan and MTE acquisition     488   0
Net cash used in investing activities     (69)   (363)
Financing activities:          
Repayments under revolving line of credit     (55,099)   0
Borrowings under revolving line of credit     52,440   0
Purchase of treasury stock from related parties     0   (189)
Issuance of common stock     0   98
Dividends paid     (2,433)   (2,438)
Net cash used in financing activities     (5,092)   (2,529)
Net (decrease) increase in cash and cash equivalents     (1,059)   1,478
Cash and cash equivalents at beginning of period     1,742   1,598
Cash and cash equivalents at end of period 683 3,076 683 3,076 3,076
Supplemental cash flow information:          
Income taxes paid     1,628   130
Interest paid     650   7
Noncash activities:          
Property, plant and equipment purchased but unpaid     (9)   (55)
Dividends declared but unpaid $ (833) $ (813) $ (833) $ (813) $ (813)

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