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
 3 Months Ended
Jun. 27, 2021
Jun. 28, 2020
Operating activities:    
Net income $ 2,665 $ 1,215
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 152 187
Amortization of intangibles 129 209
Amortization of right of use assets 447 474
Deferred income taxes (164) (173)
Gain on extinguishment of debt (1,985) 0
Reserve for unrecognized tax liabilities 37 30
Stock-based compensation 132 86
Changes in assets and liabilities:    
Accounts receivable 1,868 2,731
Inventories (1,620) 402
Prepaid expenses 227 183
Other assets 1 0
Lease liabilities (497) (408)
Accounts payable 2,289 1,582
Accrued liabilities 1,317 1,387
Net cash provided by operating activities 4,998 7,905
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (75) (50)
Financing activities:    
Repayments under revolving line of credit (5,809) (4,598)
Borrowings under revolving line of credit 5,809 2,020
Proceeds from long-term debt 0 1,964
Purchase of treasury stock from related parties (179) 0
Issuance of common stock 145 0
Dividends paid (800) (813)
Net cash used in financing activities (834) (1,427)
Net increase in cash and cash equivalents 4,089 6,428
Cash and cash equivalents at beginning of period 613 282
Cash and cash equivalents at end of period 4,702 6,710
Supplemental cash flow information:    
Income taxes paid 610 2
Interest paid 5 14
Noncash financing activities:    
Property, plant and equipment purchased but unpaid (32) (19)
Dividends declared but unpaid $ (802) $ 0