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
Jan. 01, 2023
Dec. 26, 2021
Operating activities:    
Net income $ 4,822 $ 7,483
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 499 475
Amortization of intangibles 361 389
Amortization of right of use assets 1,330 1,320
Deferred income taxes 195 320
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 98 104
Stock-based compensation 844 564
Changes in assets and liabilities:    
Accounts receivable 4,352 (1,664)
Inventories (5,129) (4,132)
Prepaid expenses (470) (210)
Other assets 2 3
Lease liabilities (1,461) (1,443)
Accounts payable (39) 2,217
Accrued liabilities (998) 822
Net cash provided by operating activities 4,370 4,266
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (399) (375)
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 (363) (355)
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) (412)
Issuance of common stock 98 344
Dividends paid (2,438) (2,404)
Net cash used in financing activities (2,529) (2,472)
Net increase in cash and cash equivalents 1,478 1,439
Cash and cash equivalents at beginning of period 1,598 613
Cash and cash equivalents at end of period 3,076 2,052
Supplemental cash flow information:    
Income taxes paid 130 934
Interest paid 7 9
Noncash activities:    
Property, plant and equipment purchased but unpaid (55) (17)
Dividends declared but unpaid $ (813) $ (4,338)