GENERAL (Tables)

3 Months Ended

Jun. 26, 2021

Schedule of Weighted Average Number of Shares

For both the first quarter of fiscal year 2022 and fiscal year 2021, the net additional common stock equivalents had no effect on the calculation of diluted earnings per share. The average shares outstanding used to compute basic and diluted earnings per share are as follows (in thousands):

	First Quarter Ended
	June 26,	June 27,
	2021	2020
Average Shares Outstanding – Basic	7,464	7,394
Effect of Dilutive Common Stock Equivalents	129	120
Average Shares Outstanding – Diluted	7,593	7,514
Anti-dilutive Common Stock Equivalents	20	20

Schedule of Goodwill and Intangible Assets

Intangible assets, namely customer base and covenants not to compete, represent an allocation of purchase price to identifiable intangible assets of an acquired business. The Company estimates the fair value of its reporting units using the fair market value measurement requirement. Intangible assets are evaluated for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. A summary of changes in the Company’s goodwill and intangible assets is as follows (in thousands):

	Goodwill						Intangible Assets
	Distribution		Service		Total		Distribution			Service			Total

Net Book Value as of March 27, 2021	$	11,458	$	31,814	$	43,272	$	920		$	6,593			$ 7,513
Additions		-		483		483		-			-			-
Amortization		-		-		-		(70	)		(550	)		(620	)
Currency Translation Adjustment		-		149		149		-			8			8
Net Book Value as of June 26, 2021	$	11,458	$	32,446	$	43,904	$	850		$	6,051			$ 6,901