Description of Business and Summary of Significant Accounting Policies (Policies)

3 Months Ended

Jun. 29, 2012

Description of Business and Summary of Significant Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies: The unaudited condensed consolidated financial statements of the Company included herein have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, they do not contain all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The condensed consolidated balance sheet as of March 30, 2012 was derived from the Company's audited consolidated financial statements.

These financial statements should be read in conjunction with the March 30, 2012 audited consolidated financial statements and notes thereto included in the Company's Form 10-K for fiscal year 2012, as filed with the SEC. The results of operations for the three months ended June 29, 2012 are not necessarily indicative of the results to be expected for the fiscal year ending March 29, 2013 or any future period.

The Company's fiscal year ends on the last Friday in March. In most years, the fiscal year is 52 weeks, with each quarter comprised of thirteen weeks, which allows comparability of quarter over quarter results. Fiscal year 2012 included a 53rd week, with the extra week included in the three month period ended September 30, 2011. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly the financial position as of June 29, 2012, the results of operations for the three months ended June 29, 2012 and June 24, 2011, respectively and the cash flows for the three months ended June 29, 2012 and June 24, 2011, respectively.

There have been no material changes to the Company's significant accounting policies during the three months ended June 29, 2012, as compared to the significant accounting policies disclosed in Note 1 of the Consolidated Financial Statements in the Company's Annual Report on Form 10-K (as amended) for the year ended March 30, 2012.

Recently Issued Accounting Standards

Recently Issued Accounting Standards: In June 2011, the FASB issued Accounting Standards Update ("ASU") No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This ASU amends ASC 220 to allow an entity the option to present income and comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. In December 2011, the FASB issued guidance which indefinitely defers the guidance related to the presentation of reclassification adjustments. As the Company has historically presented a separate statement of comprehensive income (loss), the adoption of this ASU did not have any effect upon its financial statement presentation.