|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Mar. 25, 2012
|
Mar. 27, 2011
|
Mar. 28, 2010
|
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 6,158 |
$ 2,213 |
$ 5,569 |
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
|
| Depreciation and amortization |
965 |
915 |
843 |
| Amortization of bond premium |
193 |
267 |
286 |
| Share-based compensation expense |
274 |
378 |
428 |
| Gain on sale of marketable securities |
0 |
(4) |
0 |
| Provision for doubtful accounts |
86 |
56 |
181 |
| Impairment charge on note receivable |
0 |
263 |
250 |
| Deferred income taxes |
2,041 |
(1,957) |
(267) |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts and other receivables, net |
(501) |
(951) |
(536) |
| Inventories |
14 |
(110) |
(350) |
| Prepaid expenses and other current assets |
(329) |
363 |
(102) |
| Other assets |
(72) |
(25) |
(210) |
| Accrued litigation |
447 |
4,972 |
0 |
| Accounts payable, accrued expenses and other current liabilities |
347 |
812 |
116 |
| Deferred franchise fees |
(218) |
26 |
144 |
| Other liabilities |
207 |
8 |
827 |
| Net cash provided by operating activities |
9,612 |
7,226 |
7,179 |
| Cash flows from investing activities: |
|
|
|
| Proceeds from sales and maturities of marketable securities |
4,050 |
4,906 |
1,535 |
| Change in restricted cash |
(447) |
(4,972) |
0 |
| Purchase of property and equipment |
(1,358) |
(1,245) |
(2,184) |
| Payments received on sale of note receivable |
900 |
0 |
0 |
| Payments received on note receivable |
21 |
106 |
215 |
| Net cash provided by (used in) investing activities |
3,166 |
(1,205) |
(434) |
| Cash flows from financing activities: |
|
|
|
| Repurchase of treasury stock |
(15,867) |
(9,254) |
(6,394) |
| Income tax benefit on stock option exercises |
113 |
356 |
1,046 |
| Proceeds from the exercise of stock options and warrant |
65 |
208 |
1,533 |
| Net cash used in financing activities |
(15,689) |
(8,690) |
(3,815) |
| Net (decrease) increase in cash and cash equivalents |
(2,911) |
(2,669) |
2,930 |
| Cash and cash equivalents, beginning of year |
8,940 |
11,609 |
8,679 |
| Cash and cash equivalents, end of year |
6,029 |
8,940 |
11,609 |
| Cash paid during the year for: |
|
|
|
| Interest |
0 |
0 |
0 |
| Income taxes |
$ 1,944 |
$ 2,636 |
$ 2,239 |