Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 27, 2020
Dec. 29, 2019
Operating activities:    
Net income $ 5,843 $ 4,953
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 548 536
Amortization of intangibles 596 641
Amortization of right of use assets 1,421 1,110
Deferred income taxes 331 180
Loss (gain) on sale of property, plant and equipment 4 (15)
Reserve for unrecognized tax liabilities 104 (177)
Stock-based compensation 289 219
Changes in assets and liabilities:    
Accounts receivable (446) 2,227
Inventories (5,110) (4,106)
Prepaid expenses (968) (1,108)
Other assets 3 2
Lease liabilities (1,305) (1,076)
Accounts payable 5,865 3,601
Accrued liabilities 904 200
Net cash provided by operating activities 8,079 7,187
Investing activities:    
Capital expenditures for property, plant and equipment (528) (379)
Proceeds from sale of property, plant and equipment 27
Net cash used in investing activities (528) (352)
Financing activities:    
Repayments under revolving line of credit (4,598) (35,302)
Borrowings under revolving line of credit 2,020 30,816
Proceeds from long-term debt 1,964
Purchase of treasury stock from related parties (2,450) (82)
Issuance of common stock 521 63
Dividends paid (1,632) (2,432)
Net cash used in financing activities (4,175) (6,937)
Net increase (decrease) in cash and cash equivalents 3,376 (102)
Cash and cash equivalents at beginning of period 282 143
Cash and cash equivalents at end of period 3,658 41
Supplemental cash flow information:    
Income taxes paid 1,959 1,060
Interest paid 15 47
Noncash financing activities:    
Property, plant and equipment purchased but unpaid (55) (62)
Dividends declared but unpaid $ (3,380) $ (3,355)