Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.3.1.900
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 27, 2015
Dec. 28, 2014
Operating activities:    
Net income $ 4,635 $ 3,579
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 235 231
Amortization of intangibles 559 559
Deferred income taxes 404 $ 108
Gain on sale of property, plant and equipment (15)
Reserve for unrecognized tax benefits 140
Stock-based compensation 691 $ 652
Tax shortfall from stock-based compensation (5)
Changes in assets and liabilities:    
Accounts receivable 4,184 $ (120)
Inventories (2,045) (5,694)
Prepaid expenses (521) $ (1,765)
Income taxes receivable (553)
Other assets (52) $ (56)
Accounts payable 2,488 4,580
Accrued liabilities (618) 520
Net cash provided by operating activities 9,527 2,594
Investing activities:    
Capital expenditures for property, plant and equipment (216) $ (223)
Proceeds from sale of property, plant and equipment 31
Capital expenditures for purchased intangible assets (123)
Net cash used in investing activities $ (308) $ (223)
Financing activities:    
Repayments under revolving line of credit (6,106)
Borrowings under revolving line of credit 6,106
Purchase of treasury stock $ (1,692) (173)
Issuance of common stock 347 58
Excess tax benefit from stock-based compensation 278 68
Dividends paid (2,410) (2,399)
Net cash used in financing activities (3,477) (2,446)
Net increase (decrease) in cash and cash equivalents 5,742 (75)
Cash and cash equivalents at beginning of period 1,807 560
Cash and cash equivalents at end of period 7,549 485
Supplemental cash flow information:    
Income taxes paid, net of refunds received 2,603 2,323
Interest paid, net of interest received 5 10
Noncash financing activites:    
Dividends declared but unpaid (800) (805)
Compensation paid as common stock $ 140 $ 354