Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Mar. 31, 2013
Apr. 01, 2012
Operating activities:    
Net income $ 5,111,000 $ 5,039,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 232,000 267,000
Amortization of intangibles 766,000 1,057,000
Deferred income taxes 572,000 397,000
Loss (gain) on sale of property, plant and equipment 84,000 (4,000)
Accretion of interest expense to original issue discount   48,000
Stock-based compensation 652,000 545,000
Tax shortfall from stock-based compensation (93,000) (28,000)
Changes in assets and liabilities:    
Accounts receivable (1,401,000) (1,670,000)
Inventories 909,000 1,721,000
Prepaid expenses 354,000 (67,000)
Other assets 30,000 36,000
Accounts payable 1,284,000 1,330,000
Accrued liabilities 623,000 (403,000)
Net cash provided by operating activities 9,123,000 8,268,000
Investing activities:    
Capital expenditures for property, plant and equipment (455,000) (310,000)
Proceeds from disposition of assets 190,000 5,000
Capitalized costs of internally developed intangible assets (785,000) (256,000)
Net cash used in investing activities (1,050,000) (561,000)
Financing activities:    
Payments on long-term debt   (2,000,000)
Repayments under revolving line of credit (28,624,000) (51,871,000)
Borrowings under revolving line of credit 28,624,000 47,535,000
Purchase of treasury stock (2,299,000) (1,033,000)
Issuance of common stock 1,807,000 904,000
Excess tax benefit from stock-based compensation 195,000 19,000
Dividends paid (7,650,000) (1,252,000)
Net cash used in financing activities (7,947,000) (7,698,000)
Net increase in cash and cash equivalents 126,000 9,000
Cash and cash equivalents at beginning of period 214,000 205,000
Cash and cash equivalents at end of period 340,000 214,000
Supplemental cash flow information:    
Income taxes paid, net of refunds received 1,564,000 2,864,000
Interest paid, net of interest received 19,000 182,000
Noncash financing activity:    
Dividends declared but unpaid $ (786,000) $ (1,160,000)