Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Income

v3.3.1.900
Unaudited Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2015
Dec. 28, 2014
Dec. 27, 2015
Dec. 28, 2014
Net sales $ 20,691 $ 23,743 $ 59,265 $ 59,888
Cost of products sold 14,439 17,115 42,526 43,132
Gross profit 6,252 6,628 16,739 16,756
Legal expense 21 59 93 1,360
Other marketing and administrative expenses 3,161 3,297 9,458 9,665
Income from operations 3,070 3,272 7,188 5,731
Other income (expense):        
Interest expense (8) (10) (47) (27)
Interest income $ 14 $ 1 44 $ 17
Gain on sale of property, plant and equipment 15
Foreign exchange loss $ (53) $ (18) (62) $ (30)
Other - net (1) (3) 2 (1)
Income before income tax expense 3,022 3,242 7,140 5,690
Income tax expense 879 1,196 2,505 2,111
Net income $ 2,143 $ 2,046 $ 4,635 $ 3,579
Weighted average shares outstanding:        
Basic (in shares) 9,996 10,072 10,024 10,041
Effect of dilutive securities (in shares) 42 30 39 35
Diluted (in shares) 10,038 10,102 10,063 10,076
Earnings per share:        
Basic (in dollars per share) $ 0.21 $ 0.20 $ 0.46 $ 0.36
Diluted (in dollars per share) 0.21 0.20 0.46 0.36
Cash dividends declared per share (in dollars per share) $ 0.08 $ 0.08 $ 0.24 $ 0.24