GENERAL (Tables)

9 Months Ended

Dec. 25, 2021

Schedule of Weighted Average Number of Shares

For each of the third quarter of fiscal years 2022 and 2021, the net additional common stock equivalents had a ($0.01) effect on the calculation of diluted earnings per share. For the first nine months of each of fiscal year 2022 and 2021, the net additional common stock equivalents had a ($0.01) 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 (amounts in thousands):

	Third Quarter Ended		Nine Months Ended
	December 25,	December 26,	December 25,	December 26,
	2021	2020	2021	2020
Average Shares Outstanding – Basic	7,519	7,437	7,487	7,415
Effect of Dilutive Common Stock Equivalents	134	143	112	117
Average Shares Outstanding – Diluted	7,653	7,580	7,599	7,532
Anti-dilutive Common Stock Equivalents	-	-	100	30

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		-		15,980			15,980			-			6,690			6,690
Amortization		-		-			-			(204	)		(2,492	)		(2,696	)
Currency Translation Adjustment		-		(119	)		(119	)		-			(4	)		(4	)
Net Book Value as of December 25, 2021	$	11,458	$	47,675		$	59,133		$	716		$	10,787		$	11,503