Note 2 - Revenue Recognition

6 Months Ended

Sep. 27, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

2. Revenue Recognition

Revenue recognition is completed for most customers at a point in time when product control is transferred to the customer. In general, control transfers to the customer when the product is shipped or delivered to the customer based upon applicable shipping terms, as the customer can direct the use and obtain substantially all of the remaining benefits from the asset at this point in time. The Company does sell certain finished goods inventory for cash on a bill and hold basis. The terms of the bill and hold agreement(s) provide that title to the specified inventory is transferred to the customer(s) prior to shipment and the Company has the right to payment (prior to physical delivery) which results in recorded revenue as determined under the revenue recognition standard.

In the following table, revenue is disaggregated by product category groups (in thousands):

	Three Months Ended				Six Months Ended
	September 27,		September 28,		September 27,		September 28,
	2025		2024		2025		2024
Canned vegetables	$	377,328	$	351,268	$	624,679	$	605,017
Frozen vegetables		44,871		39,086		67,808		64,420
Fruit products		22,786		22,315		40,836		41,156
Snack products		4,965		4,038		8,520		6,903
Other		10,072		8,758		15,637		12,696
Total	$	460,022	$	425,465	$	757,480	$	730,192

As a result of certain contracts with customers, the Company has contract asset balances of $3.4 million, $0.7 million, and $1.1 million as of September 27, 2025, September 28, 2024, and March 31, 2025, respectively, which are recorded as part of other current assets on the condensed consolidated balance sheets. The Company has contract liabilities in the form of deferred revenue representing payments received from certain of its co-pack customers in advance of completion of the Company's respective performance obligations. The balance is comprised of prepaid case and labeling and storage services which have been collected from bill and hold sales, as well as amounts invoiced in accordance with the terms of a co-pack agreement. 

The deferred revenue activity is shown in the following table (in thousands):

	Six Months Ended
	September 27,			September 28,
	2025			2024
Beginning balance	$	11,140		$	8,185
Deferral of revenue		15,387			9,994
Recognition of unearned revenue		(12,048	)		(8,119	)
Ending balance	$	14,479		$	10,060