Note 2 - Revenue Recognition

9 Months Ended

Dec. 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				Nine Months Ended
	December 27,		December 28,		December 27,		December 28,
	2025		2024		2025		2024
Canned vegetables	$	430,208	$	426,225	$	1,054,887	$	1,031,242
Frozen vegetables		29,332		26,945		97,140		91,365
Fruit products		34,572		35,477		75,408		76,633
Snack products		3,423		4,700		11,943		11,603
Other		10,813		9,509		26,450		22,205
Total	$	508,348	$	502,856	$	1,265,828	$	1,233,048

As a result of certain contracts with customers, the Company has contract asset balances of $2.2 million, $0.9 million, and $1.1 million as of December 27, 2025, December 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):

	Nine Months Ended
	December 27,			December 28,
	2025			2024
Beginning balance	$	11,140		$	8,185
Deferral of revenue		17,773			10,895
Recognition of unearned revenue		(16,633	)		(12,098	)
Ending balance	$	12,280		$	6,982