Note 8 - Leases

12 Months Ended

Apr. 03, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 8 – Leases

The Company made cash payments related to its recognized operating leases of $1.9 million and $1.8 million during the fiscal years ended April 3, 2022 and March 28, 2021, respectively. Such payments reduced the operating lease liabilities and were included in the cash flows provided by operating activities in the accompanying consolidated statements of cash flows. As of April 3, 2022, the Company’s operating leases have a weighted-average discount rate 3.6% and a weighted-average remaining lease term of 1.8 years.

During the fiscal years ended April 3, 2022 and March 28, 2021, the Company classified its operating lease costs within the accompanying consolidated statements of income as follows (in thousands):

	2022		2021
Cost of products sold	$	1,598	$	1,691
Marketing and administrative expenses		164		202
Total operating lease costs	$	1,762	$	1,893

The maturities of the Company’s operating lease liabilities as of April 3, 2022 are as follows (in thousands):

Fiscal Year
2023	$	1,896
2024		491
2025		187
2026		158
Total undiscounted operating lease payments		2,732
Less imputed interest		91
Operating lease liabilities - net	$	2,641