Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Mar. 30, 2014
Mar. 31, 2013
Operating activities:    
Net income $ 5,771,000 $ 5,111,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 299,000 232,000
Amortization of intangibles 758,000 766,000
Deferred income taxes (743,000) 572,000
(Gain) loss on sale of property, plant and equipment (2,000) 84,000
Stock-based compensation 604,000 652,000
Tax shortfall from stock-based compensation (9,000) (93,000)
Changes in assets and liabilities:    
Accounts receivable 12,000 (1,401,000)
Inventories (2,677,000) 909,000
Prepaid expenses 682,000 354,000
Other assets   30,000
Accounts payable (2,310,000) 1,284,000
Accrued liabilities 1,254,000 623,000
Net cash provided by operating activities 3,639,000 9,123,000
Investing activities:    
Capital expenditures for property, plant and equipment (147,000) (455,000)
Proceeds from disposition of assets 2,000 190,000
Capitalized costs of internally developed intangible assets (16,000) (785,000)
Net cash used in investing activities (161,000) (1,050,000)
Financing activities:    
Repayments under revolving line of credit (10,322,000) (28,624,000)
Borrowings under revolving line of credit 10,322,000 28,624,000
Purchase of treasury stock (457,000) (2,299,000)
Issuance of common stock 307,000 1,807,000
Excess tax benefit from stock-based compensation 42,000 195,000
Dividends paid (3,150,000) (7,650,000)
Net cash used in financing activities (3,258,000) (7,947,000)
Net increase in cash and cash equivalents 220,000 126,000
Cash and cash equivalents at beginning of period 340,000 214,000
Cash and cash equivalents at end of period 560,000 340,000
Supplemental cash flow information:    
Income taxes paid, net of refunds received 4,218,000 1,564,000
Interest paid, net of interest received 31,000 19,000
Noncash financing activity:    
Dividends declared but unpaid $ (789,000) $ (786,000)