Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 28, 2021
Mar. 29, 2020
Operating activities:    
Net income $ 6,081 $ 6,561
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 741 716
Amortization of intangibles 790 855
Amortization of right of use assets 1,893 1,593
Deferred income taxes (267) 85
Loss from impairment of long-lived assets 2,234
Loss (gain) on sale of property, plant and equipment 4 (15)
Reserve for unrecognized tax liabilities (91) (473)
Stock-based compensation 394 297
Changes in assets and liabilities:    
Accounts receivable (1,535) (31)
Inventories (2,603) 1,802
Prepaid expenses 40 6
Other assets 3 2
Lease liabilities (1,800) (1,438)
Accounts payable 2,519 (1,330)
Accrued liabilities 335 (98)
Net cash provided by operating activities 8,738 8,532
Investing activities:    
Capital expenditures for property, plant and equipment (733) (705)
Proceeds from sale of property, plant and equipment 27
Net cash used in investing activities (733) (678)
Financing activities:    
Repayments under revolving line of credit (22,290) (50,955)
Borrowings under revolving line of credit 19,712 49,047
Proceeds from PPP loan 1,964
Purchase of treasury stock from related parties (2,794) (82)
Issuance of common stock 746 63
Dividends paid (5,012) (5,788)
Net cash used in financing activities (7,674) (7,715)
Net increase in cash and cash equivalents 331 139
Cash and cash equivalents at beginning of period 282 143
Cash and cash equivalents at end of period 613 282
Supplemental cash flow information:    
Income taxes paid 1,972 1,680
Interest paid 21 80
Noncash financing activities:    
Property, plant and equipment purchased but unpaid (47) (101)
Dividends declared but unpaid $ (800) $ (813)