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, 2011
Sep. 26, 2010
Operating activities:    
Net income $ 1,597 $ 1,940
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of property, plant and equipment 131 128
Amortization of intangibles 617 598
Deferred income taxes (1) 124
Gain on sale of property, plant and equipment (5) (2)
Accretion of interest expense to original issue discount 48 115
Stock-based compensation 287 484
Tax shortfall from stock-based compensation (27) (33)
Changes in assets and liabilities:    
Accounts receivable 4,211 2,116
Inventories (2,966) (6,895)
Prepaid expenses 865 (321)
Other assets 14 (15)
Accounts payable 985 1,969
Accrued liabilities 131 (324)
Net cash provided by (used in) operating activities 5,887 (116)
Investing activities:    
Capital expenditures (151) (87)
Maturity of temporary investment - restricted   505
Proceeds from disposition of assets 5 2
Payment to acquire the Bibsters product line   (2,072)
Net cash used in investing activities (146) (1,652)
Financing activities:    
Payments on long-term debt (2,000) (2,000)
(Repayments) borrowings under revolving line of credit, net (3,161) 4,428
Purchase of treasury stock (735) (655)
Issuance of common stock 628 158
Excess tax benefit from stock-based compensation 15 144
Dividends paid (576) (369)
Net cash (used in) provided by financing activities (5,829) 1,706
Net decrease in cash and cash equivalents (88) (62)
Cash and cash equivalents at beginning of period 205 75
Cash and cash equivalents at end of period 117 13
Supplemental cash flow information:    
Income taxes paid 732 2,039
Interest paid, net of interest received 100 96
Noncash financing activity:    
Dividends declared but unpaid $ (290) $ (191)