Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Apr. 03, 2022
Mar. 28, 2021
Operating activities:    
Net income $ 9,918 $ 6,081
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 652 741
Amortization of intangibles 509 790
Amortization of right of use assets 1,762 1,893
Deferred income taxes 1,726 (267)
Gain on extinguishment of debt (1,985) 0
Loss from impairment of long-lived assets 0 2,234
(Gain) loss on sale of property, plant and equipment (18) 4
Reserve for unrecognized tax liabilities 109 (91)
Stock-based compensation 834 394
Changes in assets and liabilities:    
Accounts receivable (3,888) (1,535)
Inventories (318) (2,603)
Prepaid expenses 153 40
Other assets 4 3
Lease liabilities (1,919) (1,800)
Accounts payable 793 2,519
Accrued liabilities (68) 335
Net cash provided by operating activities 8,264 8,738
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (531) (733)
Proceeds from sale of property, plant and equipment 41 0
Net cash used in investing activities (490) (733)
Financing activities:    
Repayments under revolving line of credit (25,158) (22,290)
Borrowings under revolving line of credit 25,158 19,712
Proceeds from long-term debt 0 1,964
Purchase of treasury stock from related parties (412) (2,794)
Issuance of common stock 344 746
Dividends paid (6,721) (5,012)
Net cash used in financing activities (6,789) (7,674)
Net increase in cash and cash equivalents 985 331
Cash and cash equivalents at beginning of period 613 282
Cash and cash equivalents at end of period 1,598 613
Supplemental cash flow information:    
Income taxes paid 1,948 1,972
Interest paid 18 21
Noncash activities:    
Property, plant and equipment purchased but unpaid (43) (47)
Dividends declared but unpaid $ (827) $ (800)