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. 01, 2018
Apr. 02, 2017
Apr. 03, 2016
Operating activities:      
Net income $ 3,021 $ 5,572 $ 6,829
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 333 178 310
Amortization of intangibles 836 754 748
Deferred income taxes 708 697 165
Loss (gain) on sale of property, plant and equipment 2 5 (15)
Reserve for unrecognized tax benefits 329 199 211
Stock-based compensation 539 604 906
Tax shortfall from stock-based compensation (5)
Changes in assets and liabilities:      
Accounts receivable (2,884) 5,182 1,575
Inventories 297 (1,036) 683
Prepaid expenses 655 (94) 217
Other assets 19 54 (60)
Accounts payable (1,702) 509 168
Accrued liabilities 300 (2,235) (716)
Net cash provided by operating activities 2,453 10,389 11,016
Investing activities:      
Capital expenditures for property, plant and equipment (221) (191) (232)
Proceeds from sale of property, plant and equipment 31
Payment for acquisitions, net of liabilities assumed (15,245) (123)
Net cash used in investing activities (15,466) (191) (324)
Financing activities:      
Repayments under revolving line of credit (15,913)
Borrowings under revolving line of credit 25,371
Purchase of treasury stock (56) (947) (2,838)
Issuance of common stock 786 846
Excess tax benefit from stock-based compensation 278
Payments on capital leases (845)
Dividends paid (3,221) (9,719) (3,211)
Net cash provided by (used in) financing activities 5,336 (9,880) (4,925)
Net (decrease) increase in cash and cash equivalents (7,677) 318 5,767
Cash and cash equivalents at beginning of period 7,892 7,574 1,807
Cash and cash equivalents at end of period 215 7,892 7,574
Supplemental cash flow information:      
Income taxes paid 1,671 3,037 4,107
Interest paid 67 2 56
Noncash financing activities:      
Dividends declared but unpaid (807) (803) (3,303)
Compensation paid as common stock $ 116 $ 108 $ 140