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 $)
 9 Months Ended
Dec. 30, 2012
Jan. 01, 2012
Operating activities:    
Net income $ 3,256,000 $ 3,145,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 168,000 197,000
Amortization of intangibles 574,000 839,000
Deferred income taxes 531,000 263,000
Gain on sale of property, plant and equipment (13,000) (5,000)
Accretion of interest expense to original issue discount   48,000
Stock-based compensation 530,000 415,000
Tax shortfall from stock-based compensation (93,000) (27,000)
Changes in assets and liabilities:    
Accounts receivable 1,562,000 2,225,000
Inventories (1,443,000) (1,980,000)
Prepaid expenses 289,000 (395,000)
Other assets 30,000 43,000
Accounts payable 2,218,000 3,320,000
Accrued liabilities 980,000 (438,000)
Net cash provided by operating activities 8,589,000 7,650,000
Investing activities:    
Capital expenditures for property, plant and equipment (186,000) (290,000)
Proceeds from disposition of assets 24,000 5,000
Capitalized costs of internally developed intangible assets (449,000)  
Net cash used in investing activities (611,000) (285,000)
Financing activities:    
Payments on long-term debt   (2,000,000)
Repayments under revolving line of credit (9,755,000) (51,871,000)
Borrowings under revolving line of credit 9,755,000 47,535,000
Purchase of treasury stock (2,299,000) (738,000)
Issuance of common stock 1,807,000 631,000
Excess tax benefit from stock-based compensation 195,000 18,000
Dividends paid (7,650,000) (866,000)
Net cash used in financing activities (7,947,000) (7,291,000)
Net increase in cash and cash equivalents 31,000 74,000
Cash and cash equivalents at beginning of period 214,000 205,000
Cash and cash equivalents at end of period 245,000 279,000
Supplemental cash flow information:    
Income taxes paid, net of refunds received 461,000 1,901,000
Interest paid, net of interest received 1,000 144,000
Noncash financing activity:    
Dividends declared but unpaid   $ (386,000)