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 $)
 3 Months Ended
Jun. 30, 2013
Jul. 01, 2012
Operating activities:    
Net income $ 822,000 $ 897,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 76,000 55,000
Amortization of intangibles 183,000 187,000
Deferred income taxes 1,000 52,000
Stock-based compensation 193,000 147,000
Tax shortfall from stock-based compensation (4,000) (58,000)
Changes in assets and liabilities:    
Accounts receivable 6,828,000 5,158,000
Inventories (4,187,000) (2,680,000)
Prepaid expenses 74,000 318,000
Other assets   5,000
Accounts payable (917,000) (153,000)
Accrued liabilities 306,000 200,000
Net cash provided by operating activities 3,375,000 4,128,000
Investing activities:    
Capital expenditures for property, plant and equipment (19,000) (37,000)
Capitalized costs of internally developed intangible assets (16,000) (253,000)
Net cash used in investing activities (35,000) (290,000)
Financing activities:    
Repayments under revolving line of credit (9,947,000) (9,755,000)
Borrowings under revolving line of credit 9,947,000 9,755,000
Purchase of treasury stock (55,000) (1,002,000)
Issuance of common stock 51,000 798,000
Excess tax benefit from stock-based compensation   100,000
Dividends paid (786,000) (387,000)
Net cash used in financing activities (790,000) (491,000)
Net increase in cash and cash equivalents 2,550,000 3,347,000
Cash and cash equivalents at beginning of period 340,000 214,000
Cash and cash equivalents at end of period 2,890,000 3,561,000
Supplemental cash flow information:    
Income taxes paid, net of refunds received 705,000 104,000
Interest paid, net of interest received 12,000 11,000
Noncash financing activity:    
Dividends declared but unpaid $ (786,000) $ (780,000)