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
 6 Months Ended
Oct. 02, 2022
Sep. 26, 2021
Operating activities:    
Net income $ 3,474 $ 5,051
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 335 311
Amortization of intangibles 241 259
Amortization of right of use assets 884 893
Deferred income taxes 247 277
Gain on extinguishment of debt 0 (1,985)
Gain on insurance proceeds received for damage to equipment (34) 0
(Gain) loss on sale of property, plant and equipment (2) 3
Reserve for unrecognized tax liabilities 74 71
Stock-based compensation 591 340
Changes in assets and liabilities:    
Accounts receivable 5,643 853
Inventories (7,082) (3,899)
Prepaid expenses (112) 468
Other assets 0 3
Lease liabilities (969) (984)
Accounts payable 370 1,916
Accrued liabilities (1,002) (383)
Net cash provided by operating activities 2,658 3,194
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (227) (273)
Insurance proceeds received for damage to equipment 34 0
Proceeds from sale of property, plant and equipment 2 20
Net cash used in investing activities (191) (253)
Financing activities:    
Repayments under revolving line of credit 0 (5,809)
Borrowings under revolving line of credit 0 5,809
Purchase of treasury stock from related parties (189) (296)
Issuance of common stock 98 248
Dividends paid (1,632) (1,602)
Net cash used in financing activities (1,723) (1,650)
Net increase in cash and cash equivalents 744 1,291
Cash and cash equivalents at beginning of period 1,598 613
Cash and cash equivalents at end of period 2,342 1,904
Supplemental cash flow information:    
Income taxes paid 23 932
Interest paid 5 6
Noncash activities:    
Property, plant and equipment purchased but unpaid (25) (44)
Dividends declared but unpaid $ (809) $ (806)