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Note 10 - Shareholders' Equity
 12 Months Ended
Mar. 30, 2024
Notes to Financial Statements  
Equity [Text Block]

NOTE 10 – SHAREHOLDERS' EQUITY

 

On September 21, 2023, the Company entered into an underwriting agreement with Oppenheimer & Co. Inc., as representative of several underwriters, for the sale of common stock in an underwritten public offering at a public offering price of $95.00 per share (the “Offering”). The Offering closed on September 25, 2023 and the Company sold an aggregate of 847,371 shares in the Offering, which included 110,526 shares issued upon the exercise by the underwriters of their over-allotment option, for total gross proceeds of $80.5 million. Net proceeds received after direct costs in the Offering were $75.2 million. A portion of the net proceeds from this Offering were used to pay off the revolving credit facility in full.

 

During fiscal years 2024, 2023 and 2022, the Company repurchased and subsequently retired less than 0.1 million shares, less than 0.1 million shares and 0.1 million shares, respectively, of its common stock. The Company allows its employees the option of satisfying the employee tax withholding obligations with either cash or a net share repurchase. The repurchase of shares was for the net awarding of certain share awards to cover employee tax-withholding obligations for share award and stock option activity, totaling $4.9 million in fiscal year 2024, $0.4 million in fiscal year 2023 and $6.7 million in fiscal year 2022.  There were no stock option redemptions during fiscal year 2024, fiscal year 2023 or fiscal year 2022.