Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Operating activities:    
Net income $ 366 $ 1,434
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 217 169
Amortization of intangibles 146 120
Amortization of right of use assets 1,037 442
Deferred income taxes (324) 259
Gain on insurance proceeds received for damage to equipment 0 (34)
Gain on sale of property, plant and equipment 0 (2)
Reserve for unrecognized tax liabilities 14 34
Stock-based compensation 191 333
Changes in assets and liabilities:    
Accounts receivable 7,016 5,582
Inventories (3,513) (5,697)
Prepaid expenses 201 (197)
Lease liabilities (424) (480)
Accounts payable 1,632 3,079
Accrued liabilities (210) (1,544)
Net cash provided by operating activities 6,349 3,498
Cash used in investing activities:    
Capital expenditures for property, plant and equipment (355) (95)
Insurance proceeds received for damage to equpment 0 34
Proceeds from sale of property, plant and equipment 0 2
Net cash used in investing activities (355) (59)
Financing activities:    
Repayments under revolving line of credit (20,427) 0
Borrowings under revolving line of credit 14,262 0
Purchase of treasury stock from related parties 0 (162)
Issuance of common stock 0 74
Dividends paid (806) (808)
Net cash used in financing activities (6,971) (896)
Net (decrease) increase in cash and cash equivalents (977) 2,543
Cash and cash equivalents at beginning of period 1,742 1,598
Cash and cash equivalents at end of period 765 4,141
Supplemental cash flow information:    
Income taxes paid 357 0
Interest paid 268 1
Noncash activities:    
Property, plant and equipment purchased but unpaid (8) (16)
Dividends declared but unpaid $ (821) $ (824)