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 $)
 6 Months Ended
Sep. 30, 2012
Oct. 02, 2011
Operating activities:    
Net income $ 1,652,000 $ 1,597,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 109,000 131,000
Amortization of intangibles 381,000 617,000
Deferred income taxes 79,000 (1,000)
Gain on sale of property, plant and equipment   (5,000)
Accretion of interest expense to original issue discount   48,000
Stock-based compensation 288,000 287,000
Tax shortfall from stock-based compensation (62,000) (27,000)
Changes in assets and liabilities:    
Accounts receivable 6,124,000 4,211,000
Inventories (630,000) (2,966,000)
Prepaid expenses 845,000 865,000
Other assets 4,000 14,000
Accounts payable (1,142,000) 985,000
Accrued liabilities 116,000 131,000
Net cash provided by operating activities 7,764,000 5,887,000
Investing activities:    
Capital expenditures for property, plant and equipment (74,000) (150,000)
Proceeds from disposition of assets   5,000
Capitalized costs of internally developed intangible assets (331,000) (1,000)
Net cash used in investing activities (405,000) (146,000)
Financing activities:    
Payments on long-term debt   (2,000,000)
Repayments under revolving line of credit, net   (3,161,000)
Purchase of treasury stock (1,115,000) (735,000)
Issuance of common stock 925,000 628,000
Excess tax benefit from stock-based compensation 119,000 15,000
Dividends paid (1,166,000) (576,000)
Net cash used in financing activities (1,237,000) (5,829,000)
Net increase (decrease) in cash and cash equivalents 6,122,000 (88,000)
Cash and cash equivalents at beginning of period 214,000 205,000
Cash and cash equivalents at end of period 6,336,000 117,000
Supplemental cash flow information:    
Income taxes paid, net of refunds received 456,000 732,000
Interest paid, net of interest received 5,000 100,000
Noncash financing activity:    
Dividends declared but unpaid $ (784,000) $ (290,000)