XML 24 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 25, 2018
Mar. 26, 2017
Mar. 27, 2016
Cash flows from operating activities:      
Net income $ 2,630,000 $ 7,485,000 $ 6,096,000
Adjustments to reconcile net income to net cash provided by operating activities      
Loss on debt extinguishment 8,872,000
Depreciation and amortization 1,352,000 1,297,000 1,255,000
Amortization of bond premium 64,000
Gain on sale of marketable equity securities (26,000)
Gain on sale of property and equipment (18,000)
Amortization of debt issuance costs 1,069,000 1,209,000 1,185,000
Share-based compensation expense 398,000 582,000 722,000
Income tax benefit on stock option exercises 173,000 659,000
Provision for doubtful accounts 34,000 53,000 38,000
Impairment charge – long lived assets 790,000 0 0
Impairment charge – long-term investment 100,000
Deferred income taxes (512,000) 101,000 (13,000)
Changes in operating assets and liabilities:      
Accounts and other receivables, net (1,588,000) (280,000) 740,000
Inventories 195,000 108,000 135,000
Prepaid expenses and other current assets (1,780,000) 250,000 3,189,000
Other assets 5,000 (189,000) 138,000
Accounts payable, accrued expenses and other current liabilities 7,091,000 (673,000) (293,000)
Deferred franchise fees 95,000 (39,000) (141,000)
Other liabilities 38,000 (151,000) (691,000)
Net cash provided by operating activities 18,862,000 10,412,000 12,480,000
Cash flows from investing activities:      
Proceeds from sales and maturities of available-for-sale securities 10,868,000
Proceeds from disposal of property and equipment 13,000 133,000
Purchase of property and equipment (563,000) (1,128,000) (1,125,000)
Purchase of available-for-sale securities (3,887,000)
Net cash (used in) provided by investing activities (550,000) (1,128,000) 5,989,000
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 150,000,000
Cash payments for extinguishment of debt (135,000,000)
Premium paid on extinguishment of debt (6,750,000)
Debt issuance costs (4,908,000) (60,000)
Dividends paid to stockholders (21,073,000) (375,000) (375,000)
Repurchase of treasury stock (1,272,000) (19,231,000)
Proceeds from the exercise of stock options 0 44,000 89,000
Income tax benefit on stock option exercises 228,000
Payments of withholding tax on net share settlement of share-based compensation plans (157,000) (994,000) (285,000)
Net cash (used in) financing activities (17,888,000) (2,597,000) (19,634,000)
Net increase (decrease) in cash 424,000 6,687,000 (1,165,000)
Cash, beginning of year 56,915,000 50,228,000 51,393,000
Cash, end of year 57,339,000 56,915,000 50,228,000
Interest 9,038,000 13,500,000 13,688,000
Income taxes $ 3,584,000 $ 4,049,000 $ 848,000