Annual report pursuant to Section 13 and 15(d)

Note 11 - Commitments and Contingencies

v3.7.0.1
Note 11 - Commitments and Contingencies
 12 Months Ended
Apr. 02, 2017
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
N
ote
11
– Commitments and Contingencies
 
Total rent expense was
$1.5
million during each of the fiscal years ended
April 2, 2017
and
April 3, 2016.
The Company’s commitment for minimum guaranteed rental payments under its lease agreements as of
April 2, 2017
is
$4.1
million, consisting of
$1.3
million in each of fiscal years
2018
and
2019,
$1.2
million in fiscal year
2020,
and
$342,000
in fiscal year
2021.
 
Total royalty expense was
$7.0
million and
$9.0
million for fiscal years
2017
and
2016,
respectively. The Company’s commitment for minimum guaranteed royalty payments under its license agreements as of
April 2, 2017
is
$5.3
million, consisting of
$4.4
million,
$725,000
and
$178,000
due in fiscal years
2018,
2019
and
2020,
respectively.
 
The Company is, from time to time, involved in various legal proceedings relating to claims arising in the ordinary course of its business. Neither the Company nor any of its subsidiaries is a party to any such legal proceeding the outcome of which, individually or in the aggregate, is expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.