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. 02, 2023
Apr. 03, 2022
Operating activities:    
Net income $ 5,650 $ 9,918
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 688 652
Amortization of intangibles 481 509
Amortization of right of use assets 2,121 1,762
Deferred income taxes (205) 1,726
Gain on extinguishment of debt 0 (1,985)
Gain on insurance proceeds received for damage to equipment (34) 0
Gain on sale of property, plant and equipment (2) (18)
Reserve for unrecognized tax liabilities (416) 109
Stock-based compensation 1,105 834
Changes in assets and liabilities:    
Accounts receivable 3,530 (3,888)
Inventories (593) (318)
Prepaid expenses (233) 153
Other assets (9) 4
Lease liabilities (2,265) (1,919)
Accounts payable (854) 793
Accrued liabilities (1,226) (68)
Net cash provided by operating activities 7,738 8,264
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (813) (531)
Insurance proceeds received for damage to equpment 34 0
Proceeds from sale of property, plant and equipment 2 41
Payment to acquire Manhattan and MTE, net of cash acquired (16,136) 0
Net cash used in investing activities (16,913) (490)
Financing activities:    
Repayments under revolving line of credit (1,746) (25,158)
Borrowings under revolving line of credit 14,420 25,158
Purchase of treasury stock from related parties (207) (412)
Issuance of common stock 98 344
Dividends paid (3,246) (6,721)
Net cash provided by (used in) financing activities 9,319 (6,789)
Net increase in cash and cash equivalents 144 985
Cash and cash equivalents at beginning of period 1,598 613
Cash and cash equivalents at end of period 1,742 1,598
Supplemental cash flow information:    
Income taxes paid 1,142 1,948
Interest paid 45 18
Noncash activities:    
Property, plant and equipment purchased but unpaid (43) (43)
Dividends declared but unpaid $ (815) $ (827)