Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Licensing Agreements

Note 5 - Licensing Agreements
3 Months Ended
Jun. 27, 2021
Notes to Financial Statements  
Licensing Agreements [Text Block]

Note 5 Licensing Agreements


The Company has entered into licensing agreements that provide for royalty payments based on a percentage of sales with certain minimum guaranteed amounts. These royalty amounts are accrued based upon historical sales rates adjusted for current sales trends by customers. Royalty expense is included in cost of products sold in the accompanying unaudited condensed consolidated statements of income and amounted to $1.3 million and $1.2 million for the three months ended June 27, 2021 and June 28, 2020, respectively.