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. 01, 2023
Oct. 02, 2022
Operating activities:    
Net income $ 2,188 $ 3,474
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 432 335
Amortization of intangibles 299 241
Amortization of right of use assets 2,074 884
Deferred income taxes (518) 247
Gain on insurance proceeds received for damage to equipment 0 (34)
Gain on sale of property, plant and equipment 0 (2)
Reserve for unrecognized tax liabilities 40 74
Stock-based compensation 383 591
Changes in assets and liabilities:    
Accounts receivable 2,502 5,643
Inventories (1,434) (7,082)
Prepaid expenses 156 (112)
Other assets (9) 0
Lease liabilities (1,417) (969)
Accounts payable (126) 370
Accrued liabilities 80 (1,002)
Net cash provided by operating activities 4,650 2,658
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (539) (227)
Insurance proceeds received for damage to equpment 0 34
Proceeds from sale of property, plant and equipment 0 2
Aggregate adjustment from the Manhattan and MTE acquisition 488 0
Net cash used in investing activities (51) (191)
Financing activities:    
Repayments under revolving line of credit (35,947) 0
Borrowings under revolving line of credit 33,081 0
Purchase of treasury stock from related parties 0 (189)
Issuance of common stock 0 98
Dividends paid (1,624) (1,632)
Net cash used in financing activities (4,490) (1,723)
Net increase in cash and cash equivalents 109 744
Cash and cash equivalents at beginning of period 1,742 1,598
Cash and cash equivalents at end of period 1,851 2,342
Supplemental cash flow information:    
Income taxes paid 875 23
Interest paid 448 5
Noncash activities:    
Property, plant and equipment purchased but unpaid (5) (25)
Dividends declared but unpaid $ (822) $ (809)