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. 26, 2021
Dec. 27, 2020
Operating activities:    
Net income $ 7,483 $ 5,843
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 475 548
Amortization of intangibles 389 596
Amortization of right of use assets 1,320 1,421
Deferred income taxes 320 331
Gain on extinguishment of debt (1,985) 0
Loss on sale of property, plant and equipment 3 4
Reserve for unrecognized tax liabilities 104 104
Stock-based compensation 564 289
Changes in assets and liabilities:    
Accounts receivable (1,664) (446)
Inventories (4,132) (5,110)
Prepaid expenses (210) (968)
Other assets 3 3
Lease liabilities (1,443) (1,305)
Accounts payable 2,217 5,865
Accrued liabilities 822 904
Net cash provided by operating activities 4,266 8,079
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (375) (528)
Proceeds from sale of property, plant and equipment 20 0
Net cash used in investing activities (355) (528)
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 (412) (2,450)
Issuance of common stock 344 521
Dividends paid (2,404) (1,632)
Net cash used in financing activities (2,472) (4,175)
Net increase in cash and cash equivalents 1,439 3,376
Cash and cash equivalents at beginning of period 613 282
Cash and cash equivalents at end of period 2,052 3,658
Supplemental cash flow information:    
Income taxes paid 934 1,959
Interest paid 9 15
Noncash activities:    
Property, plant and equipment purchased but unpaid (17) (55)
Dividends declared but unpaid $ (4,338) $ (3,380)