Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Apr. 03, 2016
Mar. 29, 2015
Operating activities:    
Net income $ 6,829 $ 5,718
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 310 314
Amortization of intangibles 748 741
Deferred income taxes 165 $ (193)
Gain on sale of property, plant and equipment (15)
Reserve for unrecognized tax benefits 211
Stock-based compensation 906 $ 862
Tax shortfall from stock-based compensation (5)
Changes in assets and liabilities:    
Accounts receivable 1,575 $ (658)
Inventories 683 (1,861)
Prepaid expenses 217 (515)
Other assets (60) (56)
Accounts payable 168 (594)
Accrued liabilities (716) 1,008
Net cash provided by operating activities 11,016 4,766
Investing activities:    
Capital expenditures for property, plant and equipment (232) $ (256)
Proceeds from sale of property, plant and equipment 31
Capital expenditures for purchased intangible assets (123)
Net cash used in investing activities $ (324) $ (256)
Financing activities:    
Repayments under revolving line of credit (7,839)
Borrowings under revolving line of credit 7,839
Purchase of treasury stock $ (2,838) (243)
Issuance of common stock 846 116
Excess tax benefit from stock-based compensation 278 69
Dividends paid (3,211) (3,205)
Net cash used in financing activities (4,925) (3,263)
Net increase in cash and cash equivalents 5,767 1,247
Cash and cash equivalents at beginning of period 1,807 560
Cash and cash equivalents at end of period 7,574 1,807
Supplemental cash flow information:    
Income taxes paid 4,107 3,386
Interest paid 56 37
Noncash financing activities:    
Dividends declared but unpaid (3,303) (805)
Compensation paid as common stock $ 140 $ 354