Tessco (TESS) 10-K5 Jun 202020 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Mar. 29, 2020	May 29, 2020	Sep. 29, 2019
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Mar. 29, 2020
Entity Registrant Name	TESSCO TECHNOLOGIES INC
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 93,599,964
Entity Common Stock, Shares Outstanding		8,641,700
Entity Central Index Key	0000927355
Current Fiscal Year End Date	--03-29
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 50,000	$ 30,300
Trade accounts receivable, net	82,868,400	93,966,200
Product inventory, net	69,148,000	71,845,400
Prepaid expenses and other current assets	11,707,500	5,562,800
Total current assets	163,773,900	171,404,700
Property and equipment, net	13,433,700	15,003,500
Goodwill		11,677,700
Intangible assets, net	11,157,400	5,893,200
Deferred tax assets	3,032,500	55,300
Lease asset - right of use	13,949,800
Other long-term assets	3,361,400	2,461,400
Total assets	208,708,700	206,495,800
Current liabilities:
Trade accounts payable	75,512,600	73,059,700
Payroll, benefits and taxes	4,258,300	5,929,500
Income and sales tax liabilities	450,800	749,000
Accrued expenses and other current liabilities	4,244,400	2,652,400
Revolving line of credit	25,563,900	14,378,100
Lease liability, current	2,579,200
Total current liabilities	112,609,200	96,768,700
Non-current lease liability	11,481,100
Other non-current liabilities	915,700	939,900
Total liabilities	125,006,000	97,708,600
Shareholders’ equity:
Preferred stock, $0.01 par value per share, 500,000 shares authorized and no shares issued and outstanding
Common stock, $0.01 par value per share, 15,000,000 shares authorized, 14,354,368 shares issued and 8,577,549 shares outstanding as of March 29, 2020, and 14,190,027 shares issued and 8,468,529 shares outstanding as of March 31, 2019	101,400	99,800
Additional paid-in capital	65,318,500	62,666,400
Treasury stock, at cost, 5,776,819 shares as of March 29, 2020 and 5,721,498 shares as of March 31, 2019	(58,496,200)	(57,614,100)
Retained earnings	76,779,000	103,635,100
Total shareholders’ equity	83,702,700	108,787,200
Total liabilities and shareholders’ equity	$ 208,708,700	$ 206,495,800

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Current assets:
Trade accounts receivable, allowance for doubtful accounts	$ 3,288,800	$ 2,137,900
Shareholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars shares)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	14,354,368	14,190,027
Common stock, outstanding (in shares)	8,577,549	8,468,529
Treasury stock (in shares)	5,776,819	5,721,498

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income - USD ($)	3 Months Ended								12 Months Ended
Consolidated Statements of (Loss) Income - USD ($)	Mar. 29, 2020	Dec. 29, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Consolidated Statements of (Loss) Income
Revenues	$ 128,179,900	$ 139,578,200	$ 141,810,900	$ 130,729,300	$ 144,963,800	$ 152,294,500	$ 158,636,100	$ 150,919,400	$ 540,298,300	$ 606,813,800	$ 580,274,700
Cost of goods sold	111,014,000	116,503,900	115,491,600	105,465,800	116,696,600	121,295,800	127,241,400	120,221,300	448,475,300	485,455,100	460,046,300
Gross profit	17,165,900	23,074,300	26,319,300	25,263,500	28,267,200	30,998,700	31,394,700	30,698,100	91,823,000	121,358,700	120,228,400
Selling, general and administrative expenses	27,493,900	26,479,100	25,745,200	28,096,500	27,280,300	27,494,800	29,477,300	28,961,300	107,814,700	113,213,700	112,326,700
Goodwill impairment	9,108,600	2,569,100							11,677,700
Restructuring charge				488,000					488,000
(Loss) income from operations	(19,436,600)	(5,973,900)	574,100	(3,321,000)	986,900	3,503,900	1,917,400	1,736,800	(28,157,400)	8,145,000	7,901,700
Interest expense, net	204,600	367,900	335,100	208,700	186,700	247,900	244,800	174,400	1,116,300	853,800	429,100
(Loss) income before provision for (benefit from) income taxes	(19,641,200)	(6,341,800)	239,000	(3,529,700)	800,200	3,256,000	1,672,600	1,562,400	(29,273,700)	7,291,200	7,472,600
(Benefit from) provision for income taxes	(5,564,500)	(1,320,400)	217,000	(1,036,900)	308,200	551,400	481,800	404,000	(7,704,800)	1,745,400	2,277,200
Net (loss) income	$ (14,076,700)	$ (5,021,400)	$ 22,000	$ (2,492,800)	$ 492,000	$ 2,704,600	$ 1,190,800	$ 1,158,400	$ (21,568,900)	$ 5,545,800	$ 5,195,400
Basic (loss) earnings per share (in dollars per share)									$ (2.53)	$ 0.66	$ 0.62
Diluted (loss) earnings per share (in dollars per share)	$ (1.65)	$ (0.59)		$ (0.29)	$ 0.06	$ 0.32	$ 0.14	$ 0.13	$ (2.53)	$ 0.65	$ 0.61
Basic weighted-average common shares outstanding (in shares)									8,526,965	8,436,796	8,370,742
Effect of dilutive options and other equity instruments (in shares)										130,163	100,263
Diluted weighted-average common shares outstanding (in shares)									8,526,965	8,566,959	8,471,005
Cash dividends declared per common share (in dollars per share)	$ 0.02	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.62	$ 0.80	$ 0.80

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Balance at Mar. 26, 2017	$ 98,400	$ 59,006,000	$ (57,437,600)	$ 106,349,500	$ 108,016,300
Balance (in shares) at Mar. 26, 2017	8,337,669
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 400	604,000			604,400
Proceeds from issuance of stock (in shares)	44,458
Treasury stock purchases			(65,400)		(65,400)
Treasury stock purchases (in shares)	(4,443)
Non-cash stock compensation expense	$ 200	1,001,900			$ 1,002,100
Non-cash stock compensation expense (in shares)	18,853
Exercise of stock options (in shares)					0
Cash dividends paid				(6,701,200)	$ (6,701,200)
Net income (loss)				5,195,400	5,195,400
Balance at Apr. 01, 2018	$ 99,000	60,611,900	(57,503,000)	104,843,700	108,051,600
Balance (in shares) at Apr. 01, 2018	8,396,537
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 500	810,800			811,300
Proceeds from issuance of stock (in shares)	52,067
Treasury stock purchases			(111,100)		(111,100)
Treasury stock purchases (in shares)	(6,332)
Non-cash stock compensation expense	$ 300	1,243,700			$ 1,244,000
Non-cash stock compensation expense (in shares)	26,257
Exercise of stock options (in shares)					0
Cash dividends paid				(6,754,400)	$ (6,754,400)
Net income (loss)				5,545,800	5,545,800
Balance at Mar. 31, 2019	$ 99,800	62,666,400	(57,614,100)	103,635,100	$ 108,787,200
Balance (in shares) at Mar. 31, 2019	8,468,529				8,468,529
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 700	797,300			$ 798,000
Proceeds from issuance of stock (in shares)	72,430
Treasury stock purchases			(882,100)		(882,100)
Treasury stock purchases (in shares)	(55,321)
Non-cash stock compensation expense	$ 400	1,174,200			1,174,600
Non-cash stock compensation expense (in shares)	43,786
Exercise of stock options (in dollars)	$ 500	680,600			$ 681,100
Exercise of stock options (in shares)	48,125				48,125
Cash dividends paid				(5,287,200)	$ (5,287,200)
Net income (loss)				(21,568,900)	(21,568,900)
Balance at Mar. 29, 2020	$ 101,400	$ 65,318,500	$ (58,496,200)	$ 76,779,000	$ 83,702,700
Balance (in shares) at Mar. 29, 2020	8,577,549				8,577,549

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (21,568,900)	$ 5,545,800	$ 5,195,400
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	4,026,100	3,618,900	3,992,600
Goodwill impairment	11,677,700
Non-cash stock-based compensation expense	1,174,600	1,244,000	1,002,100
Deferred income taxes and other	(2,977,200)	665,200	(710,500)
Change in trade accounts receivable	11,097,800	(6,103,900)	(23,158,400)
Change in product inventory	2,697,400	477,600	(8,338,700)
Change in prepaid expenses and other current assets	(6,144,700)	(1,073,700)	(625,000)
Change in other assets and other liabilities	(251,400)	938,900	(2,155,600)
Change in trade accounts payable	905,300	5,073,600	13,459,700
Change in payroll, benefits and taxes	(1,671,200)	(2,361,600)	1,519,000
Change in income and sales tax liabilities	(298,200)	(1,590,200)	974,500
Change in accrued expenses and other current liabilities	2,240,900	1,812,100	(402,200)
Net cash provided by (used in) operating activities	908,200	8,246,700	(9,247,100)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	(288,000)	(2,855,200)	(1,646,600)
Purchases of internal use software	(6,557,700)	(2,309,500)	(1,892,800)
Net cash used in investing activities	(6,845,700)	(5,164,700)	(3,539,400)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings from revolving line of credit	11,185,800	3,542,700	10,835,400
Proceeds from note receivable			75,000
Payments on debt	(2,300)	(27,300)	(26,700)
Proceeds from issuance of common stock	262,400	279,000	148,700
Cash dividends paid	(5,287,200)	(6,754,400)	(6,701,200)
Proceeds from exercise of stock options	680,600
Purchases of treasury stock and repurchases of stock from employees	(882,100)	(111,100)	(65,400)
Net cash provided by (used in) financing activities	5,957,200	(3,071,100)	4,265,800
Net increase (decrease in) cash and cash equivalents	19,700	10,900	(8,520,700)
CASH AND CASH EQUIVALENTS, beginning of period	30,300	19,400	8,540,100
CASH AND CASH EQUIVALENTS, end of period	$ 50,000	$ 30,300	$ 19,400

Organization

Organization	12 Months Ended
Organization	Mar. 29, 2020
Organization
Organization	Note 1. Organization TESSCO Technologies Incorporated, a Delaware corporation (“Tessco”, “we”, “our”, or the “Company”), architects and delivers innovative product and value chain solutions to support wireless systems. The Company provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing extensive internet and information technology. Approximately 96% of the Company’s sales are made to customers in the United States. The Company takes orders in several ways, including phone, fax, online and through electronic data interchange. Almost all of the Company’s sales are made in United States Dollars.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Mar. 29, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Fiscal Year The Company's fiscal year is the 52 or 53 weeks ending on the Sunday falling on or between March 26 and April 1 to allow the financial year to better reflect the Company's natural weekly accounting and business cycle. The fiscal years ended March 29, 2020 and March 31, 2019 contained 52 weeks and the fiscal year ended April 1, 2018 contained 53 weeks. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments with an original maturity of 90 days or less. Allowance for Doubtful Accounts The Company uses estimates to determine the amount of the allowance for doubtful accounts necessary to reduce accounts receivable to their expected net realizable value. The Company estimates the amount of the required allowance by reviewing the status of past-due receivables and analyzing historical bad debt trends and current economic conditions. Actual collection experience has not varied significantly from estimates, due primarily to consistent credit policies, collection experience, as well as the Company’s stability as it relates to its current customer base. Typical payments from a large majority of commercial customers are due 30 days from the date of the invoice. The Company charges-off receivables deemed to be uncollectible to the allowance for doubtful accounts. Accounts receivable balances are not collateralized. At March 29, 2020 and March 31, 2019, the Company had a reserve for the allowance for doubtful accounts of $3,288,800 and $2,137,900, respectively. The reserve as of March 29, 2020 included $1,500,000 for potential doubtful accounts predicated on the COVID-19 pandemic. Product Inventory Product inventory, consisting primarily of finished goods, is stated at the lower of cost or net realizable value, cost being determined on the first-in, first-out (“FIFO”) method and includes certain charges directly and indirectly incurred in bringing product inventories to the point of sale. Inventory is written down for estimated obsolescence equal to the difference between the cost of inventory and the estimated net realizable value, based upon specifically known inventory-related risks (such as technological obsolescence and the nature of supplier terms surrounding price protection and product returns), and assumptions about future demand. At March 29, 2020 and March 31, 2019, the Company had a reserve for excess and obsolete inventory of $9,666,100 and $5,870,600, respectively. The reserve as of March 29, 2020 included $3,900,000 for potential inventory excess and obsolescence predicated on the COVID-19 pandemic. Property and Equipment Property and equipment is stated at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets as follows: Useful lives Information technology equipment - 3 years Furniture, telephone system, equipment and tooling - 10 years Building, building improvements and leasehold improvements - 40 years Leasehold improvements are amortized over the shorter of their useful lives or the remaining lease term. Intangibles and Other Long-Term Assets The Company capitalizes computer software costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and when management authorizes and commits to funding the project and it is probable that the project will be completed. Development and acquisition costs are capitalized when the focus of the software project is either to develop new software, to increase the life of existing software or to add significantly to the functionality of existing software. Capitalization ceases when the software project is substantially complete and ready for its intended use. Depreciation is recorded using the straight-line method over the estimated useful life which ranges from one to three years. Impairment of Long-Lived Assets Long-lived assets, including amortizable intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable. These events or changes in circumstances may include a significant deterioration of operating results, changes in business plans, or changes in anticipated future cash flows. If an impairment indicator is present, the Company evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows generated by other asset groups. If future undiscounted cash flows are less than the carrying value of the asset group, the Company calculates the fair value of the asset group. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the fair value of the assets. Fair value is generally determined by estimates of discounted cash flows. The discount rate used in any estimate of discounted cash flows would be the rate required for a similar investment of like risk. There were no impairment charges of long-live assets other than goodwill, in fiscal years 2020, 2019, or 2018. Assets to be disposed of are reported at the lower of carrying value or fair value, less estimated costs of disposal. Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Goodwill amounts and indefinite lived intangible assets are not amortized, but rather are tested for impairment at least annually or whenever an impairment indicator is identified. The Company performs its annual impairment test on the first day of its fourth quarter. Intangible assets other than goodwill are recorded within other long-term assets in the Company’s Consolidated Balance Sheets. The goodwill impairment test involves an initial qualitative analysis to determine if it is more likely than not that an intangible asset’s fair value is less than its carrying amount. If qualitative factors suggest a possible impairment, the Company then performs a quantitative analysis whereby the Company determines the fair value of each reporting unit to which goodwill has been assigned. The Company then compares the fair value of each reporting unit to its carrying value, including goodwill. The Company estimates the fair value of each reporting unit using a discounted cash flow or income approach and market approach. Under the income approach, the Company estimates the present value of the reporting unit’s future cash flows. Key assumptions used to determine the present value of a reporting unit’s future cash flows include (a) a cash flow period; (b) a terminal value based on a growth rate; and (c) a discount rate, which is based on the Company’s weighted average cost of capital adjusted for risks associated with our operations. Under the market approach, the Company uses prices and other relevant information generated by market transactions involving comparable companies. Pursuant to ASU No. 2017-04, which the Company elected to adopt during fiscal year 2020, goodwill impairment is recorded if the carrying value exceeds the fair value of the reporting unit, limited to the amount of goodwill at that reporting unit. The indefinite lived intangible asset impairment test involves an initial qualitative analysis to determine if it is more likely than not that an intangible asset’s fair value is less than its carrying amount. If qualitative factors suggest a possible impairment, the Company then determines the fair value of the intangible asset. If the fair value of the intangible asset is less than its carrying value, an impairment loss is recognized for an amount equal to the difference. The intangible asset is then carried at its new fair value. We measure the fair value of our indefinite-lived intangible asset using the “relief from royalty” method. Significant estimates in this approach include projected revenues and royalty and discount rates. The estimates of discounted cash flows will likely change over time as impairment tests are performed. Based on the Company’s qualitative and/or quantitative impairment tests performed, the Company recognized a $11.7 million impairment loss on goodwill in fiscal year 2020. The Company did not recognize an impairment loss on goodwill or other indefinite lived intangible assets in fiscal years 2019 or 2018. The methods of assessing fair value for our reporting units with goodwill as well as for indefinite lived assets require significant judgments to be made by management, including future revenues, expenses, cash flows and discount rates. Changes in such estimates or the application of alternative assumptions could produce significantly different results. Revenue Recognition We account for revenue in accordance with ASC No. 606, Revenue from Contracts with Customers, which we adopted on April 2, 2018, using the modified retrospective method. We recognize revenue when control of promised goods is transferred to the customer. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for transferring the goods. During fiscal 2018, we complied with ASC No. 605, Revenue Recognition. We recorded revenues when 1) persuasive evidence of an arrangement exists, 2) delivery has occurred or services have been rendered, 3) price to the buyer is fixed or determinable, and 4) collectability is reasonably assured. In most cases, shipments are made using FOB shipping terms. FOB destination terms are used for a portion of sales, and revenue for these sales is recorded when the product is received by the customer. Prices are always fixed at the time of sale. Historically, there have not been any material concessions provided to or by customers, future discounts provided by the Company, or other incentives subsequent to a sale. The Company sells under normal commercial terms and, therefore, only records sales on transactions at the estimated transaction price. The Company recognized revenues net of sales tax. We recognize revenues from sales transactions containing sales returns provisions at the time of the sale. The potential for customer returns are considered a component of variable consideration under ASC No. 606 and it is therefore considered when estimating the transaction price for a sale. We use the most likely amount method to determine the amount of expected returns. The amount of expected returns is recognized as a refund liability, representing the obligation to return the customer’s consideration. The return asset is measured at the former carrying amount of the inventory, less any expected costs to recover the goods, which is included in prepaid expenses and other current assets on the accompanying Consolidated Balance Sheets . Our current and potential customers are continuing to look for ways to reduce their inventories and lower their total costs, including distribution, order taking and fulfillment costs, while still providing their customers excellent service. Some of these companies have turned to us to implement supply chain solutions, including purchasing inventory, assisting in demand forecasting, configuring, packaging, kitting and delivering products and managing customer and supplier relations, from order taking through cash collections. In performing these solutions, we assume varying levels of involvement in the transactions and varying levels of credit and inventory risk. As our offerings continually evolve to meet the needs of our customers, the Company constantly evaluates its revenue accounting based on the guidance set forth in accounting standards generally accepted in the United States. When applying this guidance in accordance with the ASC No. 606, the Company looks at the following indicators: whether we are the primary obligor in the transaction; whether we have general inventory risk; whether we have latitude in establishing price; whether the customer holds us responsible for the acceptability of the product; whether the product returns are handled by us; and whether obligation exists between the other parties and our customer . Each of the Company’s customer relationships is independently evaluated based on the above guidance and revenues are recorded on the appropriate basis. Based on a review of the factors above, in the majority of the Company’s sales relationships, the Company has concluded that it is the principal in the transaction and records revenues based upon the gross amounts earned and booked. However, the Company does have relationships where it is not the principal and records revenues on a net fee basis, regardless of amounts billed (less than 1% of total revenues for fiscal year 2020). Service revenues have represented less than 1% of total revenues for fiscal years 2020, 2019 and 2018. Other than sales relating to the Company’s private brands, we offer no product warranties in excess of original equipment manufacturers’ warranties. The Company’s warranty expense is estimated and accrued at the time of sale. Warranty expense was immaterial for fiscal years 2020, 2019, and 2018. Supplier Programs Funds received from suppliers for price protection, product rebates and marketing/promotion are recorded as a reduction in cost of goods sold in accordance with ASC No. 705-20: Cost of Sales and Services - Accounting for Consideration Received from a Vendor. Shipping and Handling Costs Shipping costs incurred to ship products from our distribution centers to our customers’ sites are included in selling, general and administrative expenses in the Consolidated Statements of Income and totaled $13,869,500, $16,534,200, and $14,875,100 for fiscal years 2020, 2019, and 2018, respectively. Stock Compensation Awards Granted to Team Members The Company records stock compensation expense for awards in accordance with ASC No. 718. The Company accounts for forfeitures as they occur rather than estimate expected forfeitures. The standard also requires stock awards granted or modified after the adoption of the standard that include both performance conditions and graded vesting based on service to the Company to be amortized by an accelerated method rather than the straight-line method. Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC No. 740. Under this method, deferred income tax assets and liabilities arise from differences between the tax basis of assets or liabilities and their reported amounts in the financial statements. Deferred tax balances are determined by using the enacted tax rate to be in effect when the taxes are paid or refunds received. A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In accordance with ASC No. 740, the Company recognizes a provision for tax uncertainties in its financial statements for the year ended April 1, 2018. No provision for tax uncertainties was determined to be necessary as of March 29, 2020 and March 31, 2019. See Note 12 for further discussion of the standard and its impact on the Company’s consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company reviews and evaluates its estimates and assumptions, including but not limited to, those that relate to tax reserves, stock-based compensation, accounts receivable reserves, inventory reserves and future cash flows associated with impairment testing for goodwill and other long-lived assets. Actual results could significantly differ from those estimates. Recently issued accounting pronouncements not yet adopted: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. This ASU is effective for periods beginning after December 15, 2022. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements and will adopt the standard on the first day of the Company’s 2024 fiscal year. Recently issued accounting pronouncements adopted: Effective September 30, 2019, the Company adopted the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other–Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The adoption of this standard resulted in the Company capitalizing certain implementation costs related to cloud computing arrangements that are service contracts during fiscal 2020. Effective September 30, 2019, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350)”. The ASU modifies the measurement of a goodwill impairment loss from the portion of the carrying amount of goodwill that exceeds its implied fair value to the excess of the carrying amount of a reporting unit that exceeds its fair value. This eliminates step two of the goodwill impairment test under current guidance. The Company elected to early adopt ASU No. 2017-04 for the fiscal year 2020 impairment tests performed as of December 29, 2019 and March 29, 2020. Effective April 1, 2019 , the Company adopted the FASB issued ASU No. 2016-02, Leases. This ASU requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The ASU also requires additional qualitative and quantitative disclosures related to the nature, timing and uncertainty of cash flows arising from leases. The Company adopted this standard on the first day of the 2020 fiscal year, using a modified retrospective approach. The Company elected the package of practical expedients permitted under the transition guidance within the standard, which among other things, allowed historical lease classification to be carried forward. Additionally, the Company elected the practical expedient approach to consolidate less significant non-lease components into the lease component. The Company made an accounting policy election, as permitted by the standard, to only record a right-of-use asset and lease liability for leases with an initial term in excess of twelve months. This standard resulted in the Company recording a right-of-use asset and lease liability for all leases, but otherwise the standard did not have a material impact on the financial statements. Prior periods were not adjusted to reflect this change. Effective April 1, 2019 , the Company adopted the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. The new standard changes the classification of certain cash payments and receipts within the cash flow statement. Specifically, payments for debt prepayment or debt extinguishment costs, including third-party costs, premiums paid, and other fees paid to lenders that are directly related to the debt prepayment or debt extinguishment, excluding accrued interest, are now classified as financing activities. Previously, these payments were classified as operating expenses. Adoption of this standard did not have an impact on the Consolidated Financial Statements of the Company, included herein.

Property and Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Mar. 29, 2020
Property and Equipment
Property and Equipment	Note 3. Property and Equipment All of the Company’s property and equipment is located in the United States and is summarized as follows: 2020 2019 Land $ 4,740,800 $ 4,740,800 Building, building improvements and leasehold improvements 20,921,800 20,926,500 Information technology equipment 5,255,000 6,026,300 Furniture, telephone system, equipment and tooling 9,039,000 8,582,800 39,956,600 40,276,400 Less accumulated depreciation (26,522,900) (25,272,900) Property and equipment, net $ 13,433,700 $ 15,003,500 Depreciation of property and equipment was $1,683,000, $1,507,300, and $1,796,500 for fiscal years 2020, 2019 and 2018, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Mar. 29, 2020
Goodwill
Goodwill	Note 4. Goodwill and Other Intangible Assets Due to lower than expected results and a significant reduction in market capitalization (due to reduced stock price), we performed a quantitative impairment test for goodwill during the third and fourth quarters of fiscal year 2020. Based on these quantitative tests, goodwill was fully impaired, and we recorded $11.7 million of non-cash goodwill impairment loss during fiscal year 2020, which was included on the goodwill impairment line on the consolidated statements of (loss) income. Based on the quantitative tests we did in the third quarter, we recorded $2.6 million of non-cash goodwill impairment loss related to the retail segment. Based on the quantitative tests we did in the fourth quarter, we recorded $9.1 million of non-cash goodwill impairment loss related to the commercial segment. There was no change in the carrying amount of goodwill for the fiscal year ended March 31, 2019. Intangibles, net on our Consolidated Balance Sheets as of March 29, 2020 and March 31, 2019, consists of capitalized internally development computer software and an indefinite lived intangible assets. Capitalized internally developed computer software, net of accumulated amortization, as of March 29, 2020 and March 31, 2019 was $10,362,100 and $5,097,800, respectively. Certain intangibles previously classified as other long-term assets as reported for the prior periods reflected in this Annual Report on Form 10-K have been reclassified accordingly. Amortization expense of capitalized internally developed computer software was $1,954,700, $1,620,800, and $1,721,000 for fiscal years 2020, 2019, and 2018. Indefinite lived intangible assets were $795,400 as of March 29, 2020 and March 31, 2019.

Accrued expenses and other curr

Accrued expenses and other current liabilities	12 Months Ended
Accrued expenses and other current liabilities	Mar. 29, 2020
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities	Note 5. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following: March 29, 2020 March 31, 2019 Returns Reserve $ 3,440,100 $ 1,985,700 Other Accrued Expenses 804,300 666,700 Total Accrued Expenses $ 4,244,400 $ 2,652,400 The amount of expected returns are recognized as a refund liability within the Accrued Expenses line item of the balance sheet. This liability represents the obligation to return customer consideration. The value of the expected goods returned by customers is now recognized as a return asset within the Prepaid expense and other current assets line item of the balance sheet. The return asset value is initially measured at the former carrying amount in inventory, less any expected costs to recover the goods. The Company expects products returned by customers to be in new and salable condition, as required by our standard terms and conditions, and therefore impairment of the return asset is unlikely. Changes to the return liability are recorded as revenue adjustments and changes to the inventory asset are recorded as cost of goods sold. As of March 29, 2020, the return asset and return liability amounts were $2.7 million and $3.4 million, respectively. As of March 31, 2019, the return asset and return liability amounts were $1.5 million and $2.0 million, respectively.

Borrowings Under Revolving Cred

Borrowings Under Revolving Credit Facility	12 Months Ended
Borrowings Under Revolving Credit Facility	Mar. 29, 2020
Borrowings Under Revolving Credit Facility
Borrowings Under Revolving Credit Facility	Note 6. Borrowings Under Revolving Credit Facility Fiscal Year 2019 Revolving Credit Facility Activity On June 24, 2016, the Company and its primary operating subsidiaries entered into a Credit Agreement (the “Credit Agreement”) with SunTrust Bank, as Administrative Agent and Lender, and Wells Fargo Bank, National Association, as a Lender, for a senior asset based secured revolving credit facility of up to $35 million (the “Revolving Credit Facility”). On October 19, 2017, the Company and its primary operating subsidiaries, as co-borrowers, entered into an Amended and Restated Credit Agreement with SunTrust Bank, as Administrative Agent and Lender, and Wells Fargo Bank, National Association, as a Lender (the “Amended and Restated Credit Agreement”). Pursuant to the Amended and Restated Credit Agreement, the Credit Agreement for the secured Revolving Credit Facility, as previously established in June 2016, was amended and restated in order to, among other things, increase the Company’s borrowing limit from up to $35 million to up to $75 million. Capitalized terms used but not otherwise defined in this Note 6 have the meanings ascribed to each in the Amended and Restated Credit Agreement. On March 31, 2019, the interest rate applicable to borrowings under the Revolving Credit Facility was 3.99%. The weighted average interest rate on borrowings under the Company’s revolving credit facilities during fiscal year 2019 was 3.71%. Under certain circumstances, the Applicable Rate is subject to change at the Lenders’ option from the Eurodollar Rate plus the Applicable Margin to the Base Rate plus the Applicable Margin. Interest expense on the Revolving Credit Facility for fiscal year 2019 totaled $836,300. Average borrowings under the Revolving Credit Facility totaled $22,360,200 and maximum borrowings totaled $33,639,500 for fiscal year 2019. In addition to the interest charged on borrowings, the Company is subject to a 0.25% fee on the unused portion of the Revolving Credit Facility. Borrowings under the Revolving Credit Facility may be used for working capital and other general corporate purposes, and as further provided in, and subject to the applicable terms of, the Credit Agreement. As of March 31, 2019, borrowings under this Revolving Credit Facility totaled $14.4 million and, therefore, the Company had $60.6 million available for borrowing as of March 31, 2019, subject to the Borrowing Base limitation and compliance with the other applicable terms of the Amended and Restated Credit Agreement, including the applicable covenants. The line of credit has a lockbox arrangement associated with it and therefore the outstanding balance is classified as a current liability on our balance sheet. There is a financial covenant that the Company needs to maintain at any time during which the borrowings under this Revolving Credit Facility exceed $65 million. The Company’s borrowings did not exceed $65 million during fiscal year 2019. The Company was in compliance with the terms and other covenants applicable to the revolving credit facility at the end of fiscal year 2019 and through the date that these financial statements were issued. Fiscal Year 2020 Revolving Credit Facility Activity On March 29, 2020, the interest rate applicable to borrowings under the Revolving Credit Facility was 3.09%. The weighted average interest rate on borrowings under the Company’s Revolving Credit Facility during fiscal year 2020 was 3.52%. Under certain circumstances, the Applicable Rate is subject to change at the Lenders’ option from the Eurodollar Rate plus the Applicable Margin to the Base Rate plus the Applicable Margin. Interest expense on the Revolving Credit Facility for fiscal year 2020 totaled $1,114,900. Average borrowings under this Revolving Credit Facility totaled $33,755,700 and maximum borrowings totaled $56,069,900 for fiscal year 2020. In addition to the interest charged on borrowings, the Company is subject to a 0.25% fee on the unused portion of the Revolving Credit Facility. Borrowings under the Revolving Credit Facility may be used for working capital and other general corporate purposes, and as further provided in, and subject to the applicable terms of, the Credit Agreement. As of March 29, 2020, borrowings under this Revolving Credit Facility totaled $25.6 million and, therefore, the Company had $49.4 million available for borrowing as of March 29, 2020, subject to the Borrowing Base limitation and compliance with the other applicable terms of the Amended and Restated Credit Agreement, including the applicable covenants. The line of credit has a lockbox arrangement associated with it and therefore the outstanding balance is classified as a current liability on our balance sheet. There is a financial covenant that the Company needs to maintain at any time during which the borrowings under this Revolving Credit Facility exceed $65 million. The Company’s borrowings did not exceed $65 million during fiscal year 2020. The Company was in compliance with the terms and other covenants applicable to the revolving credit facility at the end of fiscal year 2020 and through the date that these financial statements were issued.

Leases

Leases	12 Months Ended
Leases	Mar. 29, 2020
Leases
Leases	Note 7. Lease The Company is committed to making rental payments under non-cancelable operating leases covering various facilities and equipment. Our leases have remaining lease terms of 1 to 6 years, some of which include options to extend the leases for up to 5 years. Rent expense for fiscal years 2020, 2019 and 2018 totaled $3,046,000, $3,001,800, and $3,041,700, respectively. The Company leases office space in Timonium, Maryland, where the Company’s sales, marketing and administrative offices are located. This space is nearby to the Company’s Global Logistics Center in Hunt Valley, Maryland. The Agreement of Lease expires on December 31, 2025. Monthly rent payments now range from $179,700 to $203,800 through the remaining lease term. The Company also leases office and warehouse space in Hunt Valley, Maryland, adjacent to the Company’s Global Logistics Center, expiring on July 31, 2023. The Company has an ongoing annual option to terminate the lease. The monthly rental fee ranges from $39,300 to $43,000 through the remaining lease term. Additional sales and marketing offices are located in additional leased office space in San Antonio, Texas. This space is leased pursuant to a lease agreement expiring on October 31, 2021. Monthly rent payments range from $18,600 to $19,100 through the remaining lease term. Quantitative information regarding the Company’s leases is as follows: As of March 29, 2020 Maturities of lease liabilities by fiscal year are as follow: 2021 $ 3,125,500 2022 3,164,000 2023 3,018,300 2024 2,725,700 2025 2,609,900 Thereafter 1,987,600 Total 16,631,000 Less: present value discount (2,570,700) Present value of lease liabilities $ 14,060,300 Weighted-average discount rate: Weighted-average remaining lease term 5.4 years

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Mar. 29, 2020
Commitments and Contingencies
Commitments and Contingencies	Note 8. Commitments and Contingencies Lawsuits and claims are filed against the Company from time to time in the ordinary course of business. The Company does not believe that any lawsuits or claims pending against the Company, individually or in the aggregate, are material, or will have a material adverse effect on the Company’s financial condition or results of operations. In addition, from time to time, the Company is also subject to review from federal and state taxing authorities in order to validate the amounts of income, sales and/or use taxes which have been claimed and remitted. Currently, our California sales tax returns for the period January 1, 2016 through December 31, 2018 and Illinois sales tax returns for the period March 1, 2018 through July 31, 2018 are under examination by applicable taxing authorities. As the Company is routinely audited by state taxing authorities, the Company has estimated exposure and established reserves for its estimated sales tax audit liability.

Operating Segments

Operating Segments	12 Months Ended
Operating Segments	Mar. 29, 2020
Business Segments
Operating Segments	Note 9. Operating Segments The Company evaluates its business within two segments: commercial and retail. The commercial segment consists of the following customer markets: (1) public carriers, that are generally responsible for building and maintaining the infrastructure system and provide airtime service to individual subscribers; and (2) value-added resellers and integrators, which includes value-added resellers, the government channel and private system operator markets. The retail segment consists of the market which includes retailers, independent dealer agents and carriers. The Company evaluates revenue, gross profit and net profit contribution, and income before provision for income taxes in the aggregate for both the commercial and retail segments. Net profit contribution is defined as gross profit less any expenses that can be directly attributed. This includes sales, product management, purchasing, credit and collections and distribution team expenses, plus freight out and internal and external marketing costs. Corporate support expenses include administrative costs – finance, human resources, information technology, operating facility occupancy expenses, depreciation, amortization and interest, plus the Company-wide pay on performance bonus expense. Certain cost of sales and other applicable expenses have been allocated to each market based on a percentage of revenues and/or gross profit, where appropriate. Segment activity for the fiscal years ended 2020, 2019 and 2018 is as follows (in thousands): Year Ended March 29, 2020 Commercial Retail Segment Segment Total Revenues Public Carrier $ 156,396 $ — $ 156,396 Value-added resellers and Integrators 252,619 — 252,619 Retail — 131,283 131,283 Total revenues $ 409,015 $ 131,283 $ 540,298 Gross Profit Public Carrier $ 18,699 $ — $ 18,699 Value-added resellers and Integrators 60,943 — 60,943 Retail — 12,181 12,181 Total gross profit $ 79,642 $ 12,181 $ 91,823 Directly allocable expenses 32,773 12,035 44,808 Segment net profit contribution $ 46,869 $ 146 47,015 Corporate support expenses 76,289 Loss before provision for income taxes $ (29,274) Year Ended March 31, 2019 Commercial Retail Segment Segment Total Revenues Public Carrier $ 156,983 $ — $ 156,983 Value-added resellers and Integrators 262,062 — 262,062 Retail — 187,769 187,769 Total revenues $ 419,045 $ 187,769 $ 606,814 Gross Profit Public Carrier $ 20,275 $ — $ 20,275 Value-added resellers and Integrators 64,130 — 64,130 Retail — 36,954 36,954 Total gross profit $ 84,405 $ 36,954 $ 121,359 Directly allocable expenses 33,475 16,152 49,627 Segment net profit contribution $ 50,930 $ 20,802 71,732 Corporate support expenses 64,441 Income before provision for income taxes $ 7,291 Year Ended April 1, 2018 Commercial Retail Segment Segment Total Revenues Public Carrier $ 115,061 $ — $ 115,061 Value-added resellers and Integrators 270,615 — 270,615 Retail — 194,599 194,599 Total revenues $ 385,676 $ 194,599 $ 580,275 Gross Profit Public Carrier $ 16,707 $ — $ 16,707 Value-added resellers and Integrators 64,620 — 64,620 Retail — 38,901 38,901 Total gross profit $ 81,327 $ 38,901 $ 120,228 Directly allocable expenses 32,592 15,535 48,127 Segment net profit contribution $ 48,735 $ 23,366 72,101 Corporate support expenses 64,628 Income before provision for income taxes $ 7,473 To provide investors with better visibility, the Company also discloses revenue and gross profit by its four product categories: · Base station infrastructure products are used to build, repair and upgrade wireless telecommunications systems. Products include base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, miscellaneous hardware, and mobile antennas. Base station infrastructure service offerings include connector installation, custom jumper assembly, site kitting and logistics integration. · Network systems products are used to build and upgrade computing and internet networks. Products include fixed and mobile broadband equipment, distributed antenna systems (DAS), wireless networking, filtering systems, two-way radios and security and surveillance products. This product category also includes training classes, technical support and engineering design services. · Installation, test and maintenance products are used to install, tune, maintain and repair wireless communications equipment. Products include sophisticated analysis equipment and various frequency, voltage- and power-measuring devices, as well as an assortment of tools, hardware, GPS, safety and replacement and component parts and supplies required by service technicians. · Mobile device accessories products include cellular phone and data device accessories such as replacement batteries, cases, speakers, mobile amplifiers, power supplies, headsets, mounts, car antennas, music accessories and data and memory cards. Retail merchandising displays, promotional programs, customized order fulfillment services and affinity-marketing programs, including private label internet sites, complement our mobile devices and accessory product offering. Supplemental revenue and gross profit information by product category for the fiscal years 2020, 2019 and 2018 are as follows (in thousands): March 29, 2020 March 31, 2019 April 1, 2018 Revenues Base station infrastructure $ 286,642 $ 292,787 $ 248,949 Network systems 87,553 86,555 98,642 Installation, test and maintenance 28,064 32,595 33,200 Mobile device accessories 138,039 194,877 199,484 Total revenues $ 540,298 $ 606,814 $ 580,275 Gross Profit Base station infrastructure 59,033 61,458 58,015 Network systems 13,742 13,604 14,649 Installation, test and maintenance 5,092 6,433 6,266 Mobile device accessories 13,956 39,864 41,298 Total gross profit $ 91,823 $ 121,359 $ 120,228

Restructuring Charge

Restructuring Charge	12 Months Ended
Restructuring Charge	Mar. 29, 2020
Restructuring Charge
Restructuring Charge	Note 10. Restructuring Charge In the first quarter of fiscal year 2020, in an effort to streamline the organization, the Company took actions to restructure its operations thereby reducing costs, resulting in a $0.5 million pre-tax charge, which is included in our Consolidated Statements of Income for fiscal year 2020. The restructuring charge primarily consisted of severance-related expenses associated with a reduction in headcount.

Stock Buyback

Stock Buyback	12 Months Ended
Stock Buyback	Mar. 29, 2020
Shares Withheld
Shares Withheld	Note 11. Stock Buyback The Company withholds shares of common stock from its employees and directors, at their request, equal to the minimum federal and state tax withholdings related to vested performance stock units, stock option exercises and restricted stock awards. For fiscal years 2020, 2019, and 2018 the total value of shares withheld for taxes was $201,000, $111,100, and $65,400, respectively.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Mar. 29, 2020
Income Taxes
Income Taxes	Note 12. Income Taxes A reconciliation of the difference between the provision for income taxes computed at statutory rates and the provision for income taxes provided in the consolidated statements of income is as follows: 2020 2019 2018 Statutory federal rate % 21.0 % 31.3 % State taxes, net of federal benefit 3.5 4.0 Non-deductible expenses (0.5) 2.1 4.4 Change in uncertain tax positions — (4.6) — Change in valuation allowance (6.5) 1.9 — Change in deferred tax related to key man life insurance — — (7.3) Rate change for loss carrybacks 9.9 — — Other 0.4 — (1.9) Effective rate 26.3 % 23.9 % 30.5 % The provision for income taxes was comprised of the following: 2020 2019 2018 Federal: Current $ (4,308,900) $ 1,037,600 $ 3,073,400 Deferred (2,596,500) 576,200 (1,081,600) State: Current (418,700) 52,600 433,400 Deferred (380,700) 79,000 (148,000) Provision for income taxes $ (7,704,800) $ 1,745,400 $ 2,277,200 Total net deferred tax assets (liabilities) as of March 29, 2020 and March 31, 2019, and the sources of the differences between financial accounting and tax basis of the Company's assets and liabilities which give rise to the deferred tax assets, are as follows: 2020 2019 Deferred tax assets : Deferred compensation $ 264,300 $ 267,300 Accrued vacation 469,100 312,300 Deferred rent 3,258,600 34,500 Allowance for doubtful accounts 1,130,900 488,000 Inventory reserves 2,794,200 1,406,100 Sales tax reserves 122,900 192,900 Sales return assets 1,200,400 478,600 Other liabilities — 205,700 Net operating loss 275,400 141,600 Business interest limitation carryforward 259,300 — Other assets 1,013,600 652,800 10,788,700 4,179,800 Valuation allowance (2,047,300) (141,600) Total deferred tax assets 8,741,400 4,038,200 Deferred tax liabilities : Depreciation and amortization (419,200) (3,094,000) Sales return liabilities (950,600) (365,200) Lease right of use (3,232,900) — Prepaid expenses (1,106,200) (523,700) Total deferred tax liabilities (5,708,900) (3,982,900) Net Deferred Tax Assets $ 3,032,500 $ 55,300 The valuation allowance recorded by the Company as of March 29, 2020 resulted from the uncertainties of the future realization of federal and state deferred tax assets. The valuation allowance recorded by the Company as of March 31, 2019 resulted from the uncertainties of the future realization of state deferred tax assets mainly resulting from state net operating loss carryovers. The Company will continue to assess and evaluate strategies that will enable the deferred tax asset, or portion thereof, to be realized, and will reduce the valuation allowance appropriately as such time when it is determined that the “more likely than not” criteria is satisfied. As of March 29, 2020, the Company had state net operating loss carryforwards of $38,066,068 which will generally begin to expire in fiscal year 2030 through fiscal year 2040. Certain state net operating loss carryovers do not expire. As of March 29, 2020 and March 31, 2019, the Company had no unrecognized tax benefits. The Company’s accounting policy with respect to interest and penalties related to tax uncertainties is to classify these amounts as part of the provision for income taxes. The total amount of interest and penalties related to tax uncertainties recognized in the consolidated statement of income for fiscal year 2020 and 2019 was a benefit of $0 and $250,500 (net of federal detriment), respectively. The cumulative amount included in the consolidated balance sheet as of March 29, 2020 and March 31, 2019 was $0. The total amount of interest and penalties related to tax uncertainties recognized in the consolidated statement of income for fiscal year 2018 was a benefit of $38,100 (net of federal expense) and the cumulative amount included as a liability in the consolidated balance sheet as of April 1, 2018 was $250,500 (net of federal benefit). A reconciliation of the changes in the gross balance of unrecognized tax benefit amounts, exclusive of interest, is as follows: 2020 2019 2018 Beginning balance of unrecognized tax benefit $ — $ 112,700 $ 204,500 Increases related to current period tax positions — 3,500 — Reductions as a result of a lapse in the applicable statute of limitations — (116,200) (91,800) Ending balance of unrecognized tax benefits $ — $ — $ 112,700 On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, which we refer to herein as the 2017 Tax Act. While the changes from the Tax Act were generally effective for tax years beginning after December 31, 2017, ASC No. 740, Accounting for Income Taxes, requires companies to recognize the effect of tax law changes in the period of enactment. Given the significance of the legislation, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which allowed registrants to record provisional amounts in earnings for the year ended April 1, 2018. The Company was required to complete its tax accounting for the 2017 Tax Act when it had obtained, prepared and analyzed the information to complete the income tax accounting but no later than December 22, 2018. Accordingly, during fiscal year 2019, the Company completed its accounting for the tax effects of the enactment of the 2017 Tax Act based on the Company’s interpretation on the new tax regulations and related guidance issued by the U.S. Department of the Treasury and the IRS. The Company did not record a material adjustment to the provided provisional amount of $0.2 million. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law making several changes to the Internal Revenue Code. The changes include, but are not limited to: increasing the limitation on the amount of deductible business interest expense, allowing companies to carryback certain net operating losses to the preceding five years, and increasing the amount of net operating loss carryforwards that corporations can use to offset taxable income. Under the CARES Act, the Company is able to recognize the benefit of $4,800,000 by carrying back the current loss to prior periods. The Company files income tax returns in U.S. federal, state and local jurisdictions. Certain income tax returns for fiscal years 2016 through 2019 remain open to examination by U.S. federal, state and local tax authorities. All state net operating losses generated to date are subject to adjustment for state income tax purposes. Currently, our New York income tax return for tax year 2016 is under examination. The potential outcome of the current examination could result in a change to unrecognized tax benefits within the next twelve months. However, we cannot reasonably estimate possible adjustments at this time.

Retirement Plans

Retirement Plans	12 Months Ended
Retirement Plans	Mar. 29, 2020
Retirement Plans
Retirement Plans	Note 13. Retirement Plans The Company has a 401(k) plan that covers all eligible employees. Contributions to the plan can be made by employees and the Company may make matching contributions at its discretion. Expense related to this matching contribution was $937,500, $957,100, and $928,100 during fiscal years 2020, 2019, and 2018, respectively. As of March 29, 2020, plan assets included 180,000 shares of common stock of the Company. The Company maintains a Supplemental Executive Retirement Plan for Robert B. Barnhill, Jr., the Company’s Chairman of the Board. This plan is funded through life insurance policies for which the Company is the sole beneficiary. The cash surrender value of the life insurance policies and the net present value of the benefit obligation of approximately $2,523,500 and $915,700, respectively, as of March 29, 2020 and $2,326,800 and $853,400, respectively, as of March 31, 2019, are included in other long-term assets and other long-term liabilities, respectively, in the accompanying Consolidated Balance Sheets.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Mar. 29, 2020
Earnings Per Share
Earnings Per Share	Note 14. Earnings Per Share The Company presents the computation of earnings per share (“EPS”) on a basic and diluted basis. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted earnings per share are computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Shares of common stock are excluded from the calculation if they are determined to be anti-dilutive. The following table presents the calculation of basic and diluted earnings per common share: Amounts in thousands, except per share amounts Amounts in thousands, except per share amounts 2020 2019 2018 Earnings per share – Basic: Net earnings $ (21,569) $ 5,546 $ 5,195 Weighted average common shares outstanding – Basic 8,527 8,437 8,371 Earnings per common share – Basic $ (2.53) $ 0.66 $ 0.62 Earnings per share – Diluted: Net earnings $ (21,569) $ 5,546 $ 5,195 Weighted average common shares outstanding – Basic 8,527 8,437 8,371 Effect of dilutive options — 130 100 Weighted average common shares outstanding – Diluted 8,527 8,567 8,471 Earnings per common share – Diluted $ (2.53) $ 0.65 $ 0.61 Anti-dilutive equity awards not included above 852 94 40 At March 29, 2020, March 31, 2019, and April 1, 2018 stock options with respect to 862,000, 591,500 and 540,000 shares of common stock were outstanding, respectively. The anti-dilutive stock options outstanding at March 29, 2020, March 31, 2019, and April 1, 2018 total 852,000, 94,000 and 40,000, respectively. There were no anti-dilutive Performance Stock Units or Restricted Stock Units outstanding as of March 29, 2020, March 31, 2019, and April 1, 2018.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Mar. 29, 2020
Stock-Based Compensation
Stock-Based Compensation	Note 15. Stock‑Based Compensation The Company’s selling, general and administrative expenses for the fiscal years ended March 29, 2020, March 31, 2019, and April 1, 2018 includes $1,174,600, $1,244,000, and $1,002,100, respectively, of stock compensation expense. Provision for income taxes for the fiscal years ended March 29, 2020, March 31, 2019, and April 1, 2018 includes $308,900, $297,300, and $305,400, respectively, of income tax benefits related to our stock-based compensation arrangements. Stock compensation expense is primarily related to our Performance Stock Units (PSUs), Restricted Stock Units (RSUs) and Stock Options, granted or outstanding under the Company’s Third Amended and Restated Stock and Incentive Plan (the “1994 Plan”) and 2019 Stock and Incentive Plan (the “2019 Plan” and together with the 1994 Plan, the “Plans), which was approved at the Annual Meeting of Shareholders held on July 25, 2019. No additional awards may be granted under the 1994 Plan, although awards outstanding under the 1994 Plan remain outstanding and governed by its terms. As of March 29, 2020, 685,927 shares were available for issue in respect of future awards under the 2019 Plan. Subsequent to the Company’s 2020 fiscal year end, on April 30, 2020 and May 15, 2020, the Compensation Committee of the Board of Directors with concurrence of the full Board of Directors, granted stock options to select key employees to purchase an aggregate of 225,000 shares of the Company’s common stock. Also on May 15, 2020, based on fiscal year 2020 results, all 33,116 shares related to PSUs issued for the fiscal 2020 performance year were canceled, and as a result, these shares were made available for future grants under the 2019 Plan. In addition, RSU awards for 21,000 shares and restricted stock awards for 65,821 shares were made on May 15, 2020, entitling the recipients to receive up to 86,821 shares of common stock in the aggregate, depending upon vesting. Accordingly, as of May 15, 2020, an aggregate of 407,222 shares were available for future awards under the 2019 Plan. Performance Stock Units: Under a program established by the Board of Directors, PSUs have been granted under the Plans to selected employees. Each PSU entitles the participant to earn TESSCO common stock, but only after earnings per share and, for non-director employee participants, individual performance targets are met over a defined performance cycle. Performance cycles, which are fixed for each grant at the date of grant, are one year. Once earned, shares vest and are issued over a specified period of time determined at the time of the grant, provided that the participant remains employed by or associated with the Company at the time of share issuance. Earnings per share targets, which take into account the earnings impact of this program, are set by the Board of Directors in advance for the complete performance cycle at levels designed to grow shareholder value. If actual performance does not reach the minimum annual or threshold targets, no shares are issued. In accordance with ASC No. 718, the Company records compensation expense on its PSUs over the service period, based on the number of shares management estimates will ultimately be issued. Accordingly, the Company determines the periodic financial statement compensation expense based upon the stock price at the PSU grant date, net of the present value of dividends expected to be paid on TESSCO common stock before the PSU vests, management’s projections of future EPS performance over the performance period, and the resulting amount of estimated share issuances. As discussed in Note 2 above, the Company accounts for forfeitures as they occur rather than estimate expected forfeitures. To the extent that forfeitures occur, stock-based compensation related to the restricted awards may be different from the Company’s expectations. The following table summarizes the activity under the Company’s PSU program for fiscal years 2020, 2019 and 2018: 2020 2019 2018 Weighted Weighted Weighted Average Fair Average Fair Average Fair Shares Value at Grant Shares Value at Grant Shares Value at Grant Unvested shares available for issue under outstanding PSUs, beginning of period 98,306 $ 14.55 67,000 $ 12.65 170,100 $ 11.17 PSUs Granted 51,616 15.93 71,000 15.58 86,000 12.67 PSUs Vested (29,036) 14.09 (14,257) 12.66 (7,600) 19.58 PSUs Forfeited/Cancelled (52,532) 9.82 (25,437) 13.46 (181,500) 10.99 Unvested shares available for issue under outstanding PSUs, end of period 68,355 $ 19.42 98,306 $ 14.55 67,000 $ 12.65 As of March 29, 2020, there was $0.3 million unrecognized compensation cost, related to PSUs earned. Total fair value of shares vested during fiscal years 2020, 2019 and 2018 was $780,400, $460,800 and $277,600, respectively. The PSUs canceled during fiscal year 2020 primarily related to the fiscal year 2019 grant of PSUs which had a one-year measurement period (fiscal 2019) and employee departures. The PSUs were canceled because the minimum applicable fiscal 2019 performance targets were not fully satisfied. Per the provisions of the 2019 Plan, the shares related to these forfeited and canceled PSUs were added back to the 2019 Plan and became available for future issuance under the 2019 Plan. Of the PSUs outstanding at the end of fiscal year 2020 covering 68,355 non-vested shares, PSUs covering 33,116 shares were subsequently canceled in May 2020, based on fiscal year 2020 performance. These PSUs were canceled because fiscal year 2020 earnings per share did not reach the target performance set forth in the PSU award agreements. The remaining 35,239 shares covered by PSUs outstanding at the end of fiscal year 2020 were earned based on fiscal year 2019 and 2018 performance, but were not yet vested as of March 29, 2020. Assuming the respective participants remain employed by, or affiliated with the Company, these shares will vest on or about May 1 of 2020, 2021, and 2022 as follows: Number of Shares 2020 19,191 2021 10,739 2022 5,309 35,239 Restricted Stock/Restricted Stock Units: On May 10, 2017, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 18,000 RSU awards to non-employee directors of the Company and to the then Executive Chairman. These awards provide for the issuance of shares of the Company’s common stock in accordance with a vesting schedule. These awards have vested or will vest, and shares have been or will be issued, 25% on or about each of May 1 of 2018, 2019, 2020 and 2021, provided that the participant remains associated with the Company (or meets other criteria as prescribed in the agreement) on each such date. As of March 29, 2020, there was less than $0.1 million of total unrecognized compensation costs related to these awards. Unrecognized compensation costs are expected to be recognized ratably over a weighted average period of approximately one year. On August 8, 2017, the Compensation Committee, with the concurrence of the full Board of Directors, awarded an aggregate of up to 56,000 RSUs to several senior executives. The number of shares earned by a recipient will be determined by multiplying the number of RSUs covered by the award by a fraction, the numerator of which is the cumulative amount of dividends (regular, ordinary and special) declared and paid, per share, on the common stock, over an earnings period of up to four years, and the denominator of which is $3.20. Subject to earlier issuance upon the occurrence of certain events (as described in the applicable award agreement), any earned shares are issued and distributed to the recipient upon the fourth anniversary of the award date. As of March 29, 2020, 15,000 of these 56,000 RSUs have been canceled due to employee departures, leaving 41,000 of these RSUs outstanding. An additional 2,000 RSU’s with similar terms (but with a shorter earnings period) were awarded in fiscal 2019, and in connection with his hiring as our new President and Chief Executive Officer, the Company issued an additional RSU grant to Mr. Mukerjee under the 2019 Plan for 19,000 shares and with similar terms (a four-year earning period and a denominator of $3.20). As a result, an aggregate of 62,000 dividend-based RSUs currently remain outstanding. As of March 29, 2020, there was less than $0.1 million of total unrecognized compensation cost related to all outstanding RSUs noted above, assuming all shares are earned. Unrecognized compensation costs are expected to be recognized ratably over a weighted average period of approximately one year. On May 10, 2018 and June 6, 2018, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 21,000 RSU awards to non-employee directors of the Company and to the then Executive Chairman. These awards provide for the issuance of shares of the Company’s common stock in accordance with a vesting schedule. These awards have vested or will vest, and shares have been or will be issued, 25% on or about each of May 1 of 2019, 2020, 2021 and 2022, provided that the participant remains associated with the Company (or meets other criteria as prescribed in the agreement) on each such date. As of March 29, 2020, there was approximately $0.2 million of total unrecognized compensation costs related to these awards. Unrecognized compensation costs related to these awards are expected to be recognized ratably over a period of approximately two years. On May 10, 2019, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 21,000 RSU, ratably to the six non-employee directors, including the Chairman of the Board of the Company. These RSU awards provide for the issuance of shares of the Company’s common stock in four equal installments beginning on May 10, 2020 and continuing on the same date in 2021, 2022 and 2023, provided that the director remains associated with the Company on each such date (or meets other criteria as prescribed in the applicable award agreement). As of March 29, 2020, there was approximately $0.3 million of total unrecognized compensation costs related to these awards. Unrecognized compensation costs related to these awards are expected to be recognized ratably over a period of approximately three years. Subsequent to the Company’s 2020 fiscal year end, on May 15, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 21,000 RSU awards to non-employee directors of the Company. These awards provide for the issuance of shares of the Company’s common stock in accordance with a vesting schedule. These awards will vest and shares will be issued 25% on or about each of May 1 of 2021, 2022, 2023 and 2024, provided that the participant remains associated with the Company (or meets other criteria as prescribed in the agreement) on each such date. In addition, and also on May 15, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 65,821 shares of restricted stock to non-employee directors of the Company in lieu of their annual cash retainer for fiscal 2021. The amount of shares issued was the cash equivalent of the required retainers on the approval date. These awards provide for the issuance of shares of the Company’s common stock subject to a risk of forfeiture that will lapse in whole or in part on July 1, 2021, generally depending on the length of continued service of the recipient on the Board for fiscal 2021. Dividends accruing in respect of the shares of restricted stock, if any, will accrue but will not be paid until July 1, 2021 and only in respect of those shares for which the risk of forfeiture has then lapsed. PSUs, RSUs and restricted stock awards are expensed based on the grant date fair value, calculated as the closing price of TESSCO common stock as reported by Nasdaq on the date of grant minus, in the case of PSUs and RSUs, the present value of dividends expected to be paid on the common stock before the award vests, because dividends or dividend-equivalent amounts do not accrue and are not paid on unvested PSUs and RSUs. The Company accounts for forfeitures as they occur rather than estimate expected forfeitures. To the extent that forfeitures occur, stock-based compensation related to the restricted awards may be different from the Company’s expectations. Stock Options: The grant date value of the Company’s stock options has been determined using the Black-Scholes-Merton pricing model, based upon facts and assumptions existing at the date of grant. Stock options granted have exercise prices equal to the market price of the Company’s stock on the grant date. The stock options vest 25% after one year and then 1/36 per month for the following three years. During fiscal 2020, stock options for 86,375 shares were forfeited due to employee departures. The weighted-average remaining contractual term of options exercisable as of March 29, 2020 was 2.5 years. The value of each option at the date of grant is amortized as compensation expense over the service period. This occurs without regard to subsequent changes in stock price, volatility or interest rates over time, provided the option remains outstanding. The following tables summarize the pertinent information for outstanding options. 2020 2019 Weighted Weighted Average Fair Average Fair Shares Value at Grant Shares Value at Grant Unvested options, beginning of period 281,292 $ 2.39 392,500 2.21 Options Granted 405,000 2.53 66,500 3.38 Options Forfeited/Cancelled (81,376) 3.23 (15,000) 4.26 Options Vested (139,542) 2.32 (162,708) 2.20 Unvested options, end of period 465,374 2.38 281,292 2.39 March 29, 2020 Grant Fiscal Year Options Granted Option Exercise Price Options Outstanding Options Exercisable 405,000 $ 13.54 368,000 - 66,500 $ 16.31 44,000 19,125 230,000 $ 15.12 110,000 76,044 410,000 $ 12.57 300,000 261,457 100,000 $ 22.42 40,000 40,000 Total 862,000 396,626 Grant Fiscal Year Expected Stock Price Volatility Risk-Free Interest Rate Expected Dividend Yield Average Expected Term Resulting Black Scholes Value 2020 % % % 4.0 $ 2.53 2019 % % % 4.0 $ 3.38 2018 % % % 4.0 $ 2.57 As of March 29, 2020, there was approximately $0.9 million of total unrecognized compensation costs related to these awards. Unrecognized compensation costs related to these awards are expected to be recognized ratably over a period of approximately three years. Total value of options exercised during fiscal 2020 was $681,100. 48,125 shares were exercised, and the weighted average exercise price of these shares was $14.15. No options were exercised during fiscal 2019 or 2018. Subsequent to the Company’s 2020 fiscal year end, on April 30, 2020 and May 15, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 160,000 stock options to select key employees. The grant date value of these stock options has been determined using the Black-Scholes-Merton pricing model, based upon facts and assumptions existing at the date of grant. Stock options granted have exercise prices equal to the market price of the Company’s stock on the grant date. The stock options vest 25% after one year and then 1/36 per month for the following three years. Subsequent to the Company’s 2020 fiscal year end, on May 15, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 65,000 performance-based stock options to select key employees. The grant date value of these stock options has been determined using the Black-Scholes-Merton pricing model, based upon facts and assumptions existing at the date of grant. Stock options granted have exercise prices equal to the market price of the Company’s stock on the grant date. If certain performance-based milestones are met and the employee remains employed by the Company, the stock options vest 25% after one year and then 1/36 per month for the following three years. Team Member Stock Purchase Plan: The Company has a Team Member Stock Purchase Plan that permits eligible employees to purchase up to an aggregate of 450,000 shares of the Company's common stock at 85% of the lower of the market price on the first day of a six-month period or the market price on the last day of that same six-month period. Expenses incurred for the Team Member Stock Purchase Plan during the fiscal years ended March 29, 2020, March 31, 2019, and April 1, 2018 were $78,400, $82,600, and $49,700, respectively. During the fiscal years ended March 29, 2020, March 31, 2019, and April 1, 2018, 34,829, 19,183, and 13,423 shares were sold to employees under this plan, having a weighted average market value of $7.51, $14.54, and $11.08, respectively.

Fair Value Disclosure

Fair Value Disclosure	12 Months Ended
Fair Value Disclosure	Mar. 29, 2020
Fair Value Disclosure
Fair Value Disclosure	Note 16. Fair Value Disclosure Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: · Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. · Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, and quoted prices for identical or similar assets or liabilities in markets that are not active. · Level 3: Unobservable inputs for the asset or liability that reflect the reporting entity’s own assumptions about the inputs used in pricing the asset or liability. As of March 29, 2020 and March 31, 2019, the Company has no assets or liabilities recorded at fair value. The carrying amounts of cash and cash equivalents, trade accounts receivable, product inventory, trade accounts payable, accrued expenses, our term loan, life insurance policies and other current liabilities approximate their fair values as of March 29, 2020 and March 31, 2019 due to their short-term nature.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
Supplemental Cash Flow Information	Mar. 29, 2020
Supplemental Cash Flow Information
Supplemental Cash Flow Information	Note 17. Supplemental Cash Flow Information Cash paid for income taxes net of refunds, for fiscal years 2020, 2019, and 2018 totaled $1,515,300, $1,835,400, and $2,440,000, respectively. Cash paid for interest during fiscal years 2020, 2019, and 2018 totaled $1,106,300, $809,000, and $406,200, respectively. Interest capitalized during fiscal year 2020 was $87,700. No interest was capitalized during fiscal years 2019 and 2018.

Concentration of Risk

Concentration of Risk	12 Months Ended
Concentration of Risk	Mar. 29, 2020
Concentration of Risk
Concentration of Risk	Note 18. Concentration of Risk Sales to customers and purchases from suppliers are largely governed by individual sales or purchase orders, so there is no guarantee of future business. In some cases, the Company has more formal agreements with significant customers or suppliers, but they are largely administrative in nature and are terminable by either party upon several months or otherwise short notice and they typically contain no obligation to make purchases from TESSCO. In the event a significant customer decides to make its purchases from another source, experiences a significant change in demand internally or from its own customer base, becomes financially unstable, or is acquired by another company, the Company’s ability to generate revenues from these customers may be significantly affected, resulting in an adverse effect on its financial position and results of operations. The Company is dependent on third-party equipment manufacturers, distributors and dealers for all of its supply of wireless communications equipment. For fiscal years 2020, 2019, and 2018, sales of products purchased from the Company's top ten suppliers accounted for 50%, 48%, and 43% of total revenues, respectively. Products purchased from the Company’s largest commercial supplier accounted for approximately 23%, 16%, and 11% of total revenues in fiscal years 2020, 2019, and 2018, respectively. Products purchased from the Company’s largest retail supplier accounted for approximately 7%, 8%, and 10% of total revenues in fiscal years 2020, 2019, and 2018, respectively. The Company is dependent on the ability of its suppliers to provide products on a timely basis and on favorable pricing terms. The Company believes that alternative sources of supply are available for many of the product types it carries, but not for all products offered by the Company. The loss of certain principal suppliers, including the suppliers referenced above, or of other suppliers whose products may be difficult to source on comparable terms elsewhere, would have a material adverse effect on the Company. As noted, the Company's future results could also be negatively impacted by the loss of certain customers, and/or supplier relationships. For fiscal years 2020, 2019, and 2018, sales of products to the Company's top ten customer relationships accounted for 31%, 32%, and 28% of total revenues, respectively. There was one customer that accounted for 11% of total revenues in fiscal year 2020. No customer accounted for more than 10% of total revenues in fiscal year 2019 and 2018.

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
Quarterly Results of Operations (Unaudited)	Mar. 29, 2020
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Unaudited)	Note 19. Quarterly Results of Operations (Unaudited) Summarized quarterly financial data for the fiscal years ended March 29, 2020 and March 31, 2019 is presented in the table below. Fiscal Year 2020 Quarters Ended Fiscal Year 2019 Quarters Ended March 29, December 29, September 29, June 30, March 31, December 30, September 30, July 1, 2020 2019 2019 2019 2019 2018 2018 2018 Revenues $ 128,179,900 $ 139,578,200 $ 141,810,900 $ 130,729,300 $ 144,963,800 $ 152,294,500 $ 158,636,100 $ 150,919,400 Cost of goods sold 111,014,000 116,503,900 115,491,600 105,465,800 116,696,600 121,295,800 127,241,400 120,221,300 Gross profit 17,165,900 23,074,300 26,319,300 25,263,500 28,267,200 30,998,700 31,394,700 30,698,100 Selling, general and administrative expenses 27,493,900 26,479,100 25,745,200 28,096,500 27,280,300 27,494,800 29,477,300 28,961,300 Goodwill impairment 9,108,600 2,569,100 — — — — — — Restructuring charges — — — 488,000 — — — — Operating expenses 36,602,500 29,048,200 25,745,200 28,584,500 27,280,300 27,494,800 29,477,300 28,961,300 (Loss) income from operations (19,436,600) (5,973,900) 574,100 (3,321,000) 986,900 3,503,900 1,917,400 1,736,800 Interest, net 204,600 367,900 335,100 208,700 186,700 247,900 244,800 174,400 (Loss) income before (benefit from) provision for income taxes (19,641,200) (6,341,800) 239,000 (3,529,700) 800,200 3,256,000 1,672,600 1,562,400 (Benefit from ) provision for income taxes (5,564,500) (1,320,400) 217,000 (1,036,900) 308,200 551,400 481,800 404,000 Net (loss) income $ (14,076,700) $ (5,021,400) $ 22,000 $ (2,492,800) $ 492,000 $ 2,704,600 $ 1,190,800 $ 1,158,400 Diluted (loss) earnings per share $ (1.65) $ (0.59) $ — $ (0.29) $ 0.06 $ 0.32 $ 0.14 $ 0.13 Cash dividends declared per common share $ 0.02 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Mar. 29, 2020
Schedule II - Valuation and Qualifying Accounts
Schedule II - Valuation and Qualifying Accounts	Schedule II: Valuation and Qualifying Accounts For the fiscal years ended: 2020 2019 2018 Allowance for doubtful accounts: Balance, beginning of period $ 2,137,900 $ 1,094,900 $ 782,200 Provision for bad debts 2,100,400 1,721,200 797,100 Write-offs and other adjustments (949,500) (678,200) (484,400) Balance, end of period $ 3,288,800 $ 2,137,900 $ 1,094,900 2020 2019 2018 Inventory Reserve: Balance, beginning of period $ 5,870,600 $ 5,739,700 $ 6,360,600 Inventory reserve expense 11,801,500 4,863,100 4,361,400 Write-offs and other adjustments (8,006,000) (4,732,200) (4,982,300) Balance, end of period $ 9,666,100 $ 5,870,600 $ 5,739,700 2020 2019 2018 Allowance for deferred tax asset: Balance, beginning of period $ 141,600 $ — $ — Income tax expense 1,905,700 141,600 — Write-offs and other adjustments — — — Balance, end of period $ 2,047,300 $ 141,600 $ —

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 29, 2020
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.
Fiscal Year	Fiscal Year The Company's fiscal year is the 52 or 53 weeks ending on the Sunday falling on or between March 26 and April 1 to allow the financial year to better reflect the Company's natural weekly accounting and business cycle. The fiscal years ended March 29, 2020 and March 31, 2019 contained 52 weeks and the fiscal year ended April 1, 2018 contained 53 weeks.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments with an original maturity of 90 days or less.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company uses estimates to determine the amount of the allowance for doubtful accounts necessary to reduce accounts receivable to their expected net realizable value. The Company estimates the amount of the required allowance by reviewing the status of past-due receivables and analyzing historical bad debt trends and current economic conditions. Actual collection experience has not varied significantly from estimates, due primarily to consistent credit policies, collection experience, as well as the Company’s stability as it relates to its current customer base. Typical payments from a large majority of commercial customers are due 30 days from the date of the invoice. The Company charges-off receivables deemed to be uncollectible to the allowance for doubtful accounts. Accounts receivable balances are not collateralized. At March 29, 2020 and March 31, 2019, the Company had a reserve for the allowance for doubtful accounts of $3,288,800 and $2,137,900, respectively. The reserve as of March 29, 2020 included $1,500,000 for potential doubtful accounts predicated on the COVID-19 pandemic.
Product Inventory	Product Inventory Product inventory, consisting primarily of finished goods, is stated at the lower of cost or net realizable value, cost being determined on the first-in, first-out (“FIFO”) method and includes certain charges directly and indirectly incurred in bringing product inventories to the point of sale. Inventory is written down for estimated obsolescence equal to the difference between the cost of inventory and the estimated net realizable value, based upon specifically known inventory-related risks (such as technological obsolescence and the nature of supplier terms surrounding price protection and product returns), and assumptions about future demand. At March 29, 2020 and March 31, 2019, the Company had a reserve for excess and obsolete inventory of $9,666,100 and $5,870,600, respectively. The reserve as of March 29, 2020 included $3,900,000 for potential inventory excess and obsolescence predicated on the COVID-19 pandemic.
Property and Equipment	Property and Equipment Property and equipment is stated at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets as follows: Useful lives Information technology equipment - 3 years Furniture, telephone system, equipment and tooling - 10 years Building, building improvements and leasehold improvements - 40 years Leasehold improvements are amortized over the shorter of their useful lives or the remaining lease term.
Intangibles and Other Long-Term Assets	Intangibles and Other Long-Term Assets The Company capitalizes computer software costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and when management authorizes and commits to funding the project and it is probable that the project will be completed. Development and acquisition costs are capitalized when the focus of the software project is either to develop new software, to increase the life of existing software or to add significantly to the functionality of existing software. Capitalization ceases when the software project is substantially complete and ready for its intended use. Depreciation is recorded using the straight-line method over the estimated useful life which ranges from one to three years.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, including amortizable intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable. These events or changes in circumstances may include a significant deterioration of operating results, changes in business plans, or changes in anticipated future cash flows. If an impairment indicator is present, the Company evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows generated by other asset groups. If future undiscounted cash flows are less than the carrying value of the asset group, the Company calculates the fair value of the asset group. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the fair value of the assets. Fair value is generally determined by estimates of discounted cash flows. The discount rate used in any estimate of discounted cash flows would be the rate required for a similar investment of like risk. There were no impairment charges of long-live assets other than goodwill, in fiscal years 2020, 2019, or 2018. Assets to be disposed of are reported at the lower of carrying value or fair value, less estimated costs of disposal.
Goodwill	Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Goodwill amounts and indefinite lived intangible assets are not amortized, but rather are tested for impairment at least annually or whenever an impairment indicator is identified. The Company performs its annual impairment test on the first day of its fourth quarter. Intangible assets other than goodwill are recorded within other long-term assets in the Company’s Consolidated Balance Sheets. The goodwill impairment test involves an initial qualitative analysis to determine if it is more likely than not that an intangible asset’s fair value is less than its carrying amount. If qualitative factors suggest a possible impairment, the Company then performs a quantitative analysis whereby the Company determines the fair value of each reporting unit to which goodwill has been assigned. The Company then compares the fair value of each reporting unit to its carrying value, including goodwill. The Company estimates the fair value of each reporting unit using a discounted cash flow or income approach and market approach. Under the income approach, the Company estimates the present value of the reporting unit’s future cash flows. Key assumptions used to determine the present value of a reporting unit’s future cash flows include (a) a cash flow period; (b) a terminal value based on a growth rate; and (c) a discount rate, which is based on the Company’s weighted average cost of capital adjusted for risks associated with our operations. Under the market approach, the Company uses prices and other relevant information generated by market transactions involving comparable companies. Pursuant to ASU No. 2017-04, which the Company elected to adopt during fiscal year 2020, goodwill impairment is recorded if the carrying value exceeds the fair value of the reporting unit, limited to the amount of goodwill at that reporting unit. The indefinite lived intangible asset impairment test involves an initial qualitative analysis to determine if it is more likely than not that an intangible asset’s fair value is less than its carrying amount. If qualitative factors suggest a possible impairment, the Company then determines the fair value of the intangible asset. If the fair value of the intangible asset is less than its carrying value, an impairment loss is recognized for an amount equal to the difference. The intangible asset is then carried at its new fair value. We measure the fair value of our indefinite-lived intangible asset using the “relief from royalty” method. Significant estimates in this approach include projected revenues and royalty and discount rates. The estimates of discounted cash flows will likely change over time as impairment tests are performed. Based on the Company’s qualitative and/or quantitative impairment tests performed, the Company recognized a $11.7 million impairment loss on goodwill in fiscal year 2020. The Company did not recognize an impairment loss on goodwill or other indefinite lived intangible assets in fiscal years 2019 or 2018. The methods of assessing fair value for our reporting units with goodwill as well as for indefinite lived assets require significant judgments to be made by management, including future revenues, expenses, cash flows and discount rates. Changes in such estimates or the application of alternative assumptions could produce significantly different results.
Revenue Recognition and Supplier Programs	Revenue Recognition We account for revenue in accordance with ASC No. 606, Revenue from Contracts with Customers, which we adopted on April 2, 2018, using the modified retrospective method. We recognize revenue when control of promised goods is transferred to the customer. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for transferring the goods. During fiscal 2018, we complied with ASC No. 605, Revenue Recognition. We recorded revenues when 1) persuasive evidence of an arrangement exists, 2) delivery has occurred or services have been rendered, 3) price to the buyer is fixed or determinable, and 4) collectability is reasonably assured. In most cases, shipments are made using FOB shipping terms. FOB destination terms are used for a portion of sales, and revenue for these sales is recorded when the product is received by the customer. Prices are always fixed at the time of sale. Historically, there have not been any material concessions provided to or by customers, future discounts provided by the Company, or other incentives subsequent to a sale. The Company sells under normal commercial terms and, therefore, only records sales on transactions at the estimated transaction price. The Company recognized revenues net of sales tax. We recognize revenues from sales transactions containing sales returns provisions at the time of the sale. The potential for customer returns are considered a component of variable consideration under ASC No. 606 and it is therefore considered when estimating the transaction price for a sale. We use the most likely amount method to determine the amount of expected returns. The amount of expected returns is recognized as a refund liability, representing the obligation to return the customer’s consideration. The return asset is measured at the former carrying amount of the inventory, less any expected costs to recover the goods, which is included in prepaid expenses and other current assets on the accompanying Consolidated Balance Sheets . Our current and potential customers are continuing to look for ways to reduce their inventories and lower their total costs, including distribution, order taking and fulfillment costs, while still providing their customers excellent service. Some of these companies have turned to us to implement supply chain solutions, including purchasing inventory, assisting in demand forecasting, configuring, packaging, kitting and delivering products and managing customer and supplier relations, from order taking through cash collections. In performing these solutions, we assume varying levels of involvement in the transactions and varying levels of credit and inventory risk. As our offerings continually evolve to meet the needs of our customers, the Company constantly evaluates its revenue accounting based on the guidance set forth in accounting standards generally accepted in the United States. When applying this guidance in accordance with the ASC No. 606, the Company looks at the following indicators: whether we are the primary obligor in the transaction; whether we have general inventory risk; whether we have latitude in establishing price; whether the customer holds us responsible for the acceptability of the product; whether the product returns are handled by us; and whether obligation exists between the other parties and our customer . Each of the Company’s customer relationships is independently evaluated based on the above guidance and revenues are recorded on the appropriate basis. Based on a review of the factors above, in the majority of the Company’s sales relationships, the Company has concluded that it is the principal in the transaction and records revenues based upon the gross amounts earned and booked. However, the Company does have relationships where it is not the principal and records revenues on a net fee basis, regardless of amounts billed (less than 1% of total revenues for fiscal year 2020). Service revenues have represented less than 1% of total revenues for fiscal years 2020, 2019 and 2018. Other than sales relating to the Company’s private brands, we offer no product warranties in excess of original equipment manufacturers’ warranties. The Company’s warranty expense is estimated and accrued at the time of sale. Warranty expense was immaterial for fiscal years 2020, 2019, and 2018. Supplier Programs Funds received from suppliers for price protection, product rebates and marketing/promotion are recorded as a reduction in cost of goods sold in accordance with ASC No. 705-20: Cost of Sales and Services - Accounting for Consideration Received from a Vendor.
Shipping and Handling Costs	Shipping and Handling Costs Shipping costs incurred to ship products from our distribution centers to our customers’ sites are included in selling, general and administrative expenses in the Consolidated Statements of Income and totaled $13,869,500, $16,534,200, and $14,875,100 for fiscal years 2020, 2019, and 2018, respectively.
Stock Compensation Awards Granted to Team Members	Stock Compensation Awards Granted to Team Members The Company records stock compensation expense for awards in accordance with ASC No. 718. The Company accounts for forfeitures as they occur rather than estimate expected forfeitures. The standard also requires stock awards granted or modified after the adoption of the standard that include both performance conditions and graded vesting based on service to the Company to be amortized by an accelerated method rather than the straight-line method.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC No. 740. Under this method, deferred income tax assets and liabilities arise from differences between the tax basis of assets or liabilities and their reported amounts in the financial statements. Deferred tax balances are determined by using the enacted tax rate to be in effect when the taxes are paid or refunds received. A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In accordance with ASC No. 740, the Company recognizes a provision for tax uncertainties in its financial statements for the year ended April 1, 2018. No provision for tax uncertainties was determined to be necessary as of March 29, 2020 and March 31, 2019. See Note 12 for further discussion of the standard and its impact on the Company’s consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company reviews and evaluates its estimates and assumptions, including but not limited to, those that relate to tax reserves, stock-based compensation, accounts receivable reserves, inventory reserves and future cash flows associated with impairment testing for goodwill and other long-lived assets. Actual results could significantly differ from those estimates.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements not yet adopted: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. This ASU is effective for periods beginning after December 15, 2022. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements and will adopt the standard on the first day of the Company’s 2024 fiscal year. Recently issued accounting pronouncements adopted: Effective September 30, 2019, the Company adopted the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other–Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The adoption of this standard resulted in the Company capitalizing certain implementation costs related to cloud computing arrangements that are service contracts during fiscal 2020. Effective September 30, 2019, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350)”. The ASU modifies the measurement of a goodwill impairment loss from the portion of the carrying amount of goodwill that exceeds its implied fair value to the excess of the carrying amount of a reporting unit that exceeds its fair value. This eliminates step two of the goodwill impairment test under current guidance. The Company elected to early adopt ASU No. 2017-04 for the fiscal year 2020 impairment tests performed as of December 29, 2019 and March 29, 2020. Effective April 1, 2019 , the Company adopted the FASB issued ASU No. 2016-02, Leases. This ASU requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The ASU also requires additional qualitative and quantitative disclosures related to the nature, timing and uncertainty of cash flows arising from leases. The Company adopted this standard on the first day of the 2020 fiscal year, using a modified retrospective approach. The Company elected the package of practical expedients permitted under the transition guidance within the standard, which among other things, allowed historical lease classification to be carried forward. Additionally, the Company elected the practical expedient approach to consolidate less significant non-lease components into the lease component. The Company made an accounting policy election, as permitted by the standard, to only record a right-of-use asset and lease liability for leases with an initial term in excess of twelve months. This standard resulted in the Company recording a right-of-use asset and lease liability for all leases, but otherwise the standard did not have a material impact on the financial statements. Prior periods were not adjusted to reflect this change. Effective April 1, 2019 , the Company adopted the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. The new standard changes the classification of certain cash payments and receipts within the cash flow statement. Specifically, payments for debt prepayment or debt extinguishment costs, including third-party costs, premiums paid, and other fees paid to lenders that are directly related to the debt prepayment or debt extinguishment, excluding accrued interest, are now classified as financing activities. Previously, these payments were classified as operating expenses. Adoption of this standard did not have an impact on the Consolidated Financial Statements of the Company, included herein.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 29, 2020
Summary of Significant Accounting Policies
Property and Equipment Useful Life	Useful lives Information technology equipment - 3 years Furniture, telephone system, equipment and tooling - 10 years Building, building improvements and leasehold improvements - 40 years

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Mar. 29, 2020
Property and Equipment
Property and Equipment	2020 2019 Land $ 4,740,800 $ 4,740,800 Building, building improvements and leasehold improvements 20,921,800 20,926,500 Information technology equipment 5,255,000 6,026,300 Furniture, telephone system, equipment and tooling 9,039,000 8,582,800 39,956,600 40,276,400 Less accumulated depreciation (26,522,900) (25,272,900) Property and equipment, net $ 13,433,700 $ 15,003,500

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	12 Months Ended
Accrued expenses and other current liabilities (Tables)	Mar. 29, 2020
Accrued expenses and other current liabilities
Accrued Expenses and Other Current Liabilities	March 29, 2020 March 31, 2019 Returns Reserve $ 3,440,100 $ 1,985,700 Other Accrued Expenses 804,300 666,700 Total Accrued Expenses $ 4,244,400 $ 2,652,400

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Mar. 29, 2020
Leases
Schedule of maturities of lease liabilities	As of March 29, 2020 Maturities of lease liabilities by fiscal year are as follow: 2021 $ 3,125,500 2022 3,164,000 2023 3,018,300 2024 2,725,700 2025 2,609,900 Thereafter 1,987,600 Total 16,631,000 Less: present value discount (2,570,700) Present value of lease liabilities $ 14,060,300 Weighted-average discount rate: Weighted-average remaining lease term 5.4 years

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
Operating Segments (Tables)	Mar. 29, 2020
Business Segments
Schedule of Revenue and Gross Profit by Market	Segment activity for the fiscal years ended 2020, 2019 and 2018 is as follows (in thousands): Year Ended March 29, 2020 Commercial Retail Segment Segment Total Revenues Public Carrier $ 156,396 $ — $ 156,396 Value-added resellers and Integrators 252,619 — 252,619 Retail — 131,283 131,283 Total revenues $ 409,015 $ 131,283 $ 540,298 Gross Profit Public Carrier $ 18,699 $ — $ 18,699 Value-added resellers and Integrators 60,943 — 60,943 Retail — 12,181 12,181 Total gross profit $ 79,642 $ 12,181 $ 91,823 Directly allocable expenses 32,773 12,035 44,808 Segment net profit contribution $ 46,869 $ 146 47,015 Corporate support expenses 76,289 Loss before provision for income taxes $ (29,274) Year Ended March 31, 2019 Commercial Retail Segment Segment Total Revenues Public Carrier $ 156,983 $ — $ 156,983 Value-added resellers and Integrators 262,062 — 262,062 Retail — 187,769 187,769 Total revenues $ 419,045 $ 187,769 $ 606,814 Gross Profit Public Carrier $ 20,275 $ — $ 20,275 Value-added resellers and Integrators 64,130 — 64,130 Retail — 36,954 36,954 Total gross profit $ 84,405 $ 36,954 $ 121,359 Directly allocable expenses 33,475 16,152 49,627 Segment net profit contribution $ 50,930 $ 20,802 71,732 Corporate support expenses 64,441 Income before provision for income taxes $ 7,291 Year Ended April 1, 2018 Commercial Retail Segment Segment Total Revenues Public Carrier $ 115,061 $ — $ 115,061 Value-added resellers and Integrators 270,615 — 270,615 Retail — 194,599 194,599 Total revenues $ 385,676 $ 194,599 $ 580,275 Gross Profit Public Carrier $ 16,707 $ — $ 16,707 Value-added resellers and Integrators 64,620 — 64,620 Retail — 38,901 38,901 Total gross profit $ 81,327 $ 38,901 $ 120,228 Directly allocable expenses 32,592 15,535 48,127 Segment net profit contribution $ 48,735 $ 23,366 72,101 Corporate support expenses 64,628 Income before provision for income taxes $ 7,473
Schedule of Revenue and Gross Profit by Product	Supplemental revenue and gross profit information by product category for the fiscal years 2020, 2019 and 2018 are as follows (in thousands): March 29, 2020 March 31, 2019 April 1, 2018 Revenues Base station infrastructure $ 286,642 $ 292,787 $ 248,949 Network systems 87,553 86,555 98,642 Installation, test and maintenance 28,064 32,595 33,200 Mobile device accessories 138,039 194,877 199,484 Total revenues $ 540,298 $ 606,814 $ 580,275 Gross Profit Base station infrastructure 59,033 61,458 58,015 Network systems 13,742 13,604 14,649 Installation, test and maintenance 5,092 6,433 6,266 Mobile device accessories 13,956 39,864 41,298 Total gross profit $ 91,823 $ 121,359 $ 120,228

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Mar. 29, 2020
Income Taxes
Effective Income Tax Rate Reconciliation	2020 2019 2018 Statutory federal rate % 21.0 % 31.3 % State taxes, net of federal benefit 3.5 4.0 Non-deductible expenses (0.5) 2.1 4.4 Change in uncertain tax positions — (4.6) — Change in valuation allowance (6.5) 1.9 — Change in deferred tax related to key man life insurance — — (7.3) Rate change for loss carrybacks 9.9 — — Other 0.4 — (1.9) Effective rate 26.3 % 23.9 % 30.5 %
Provision for Income Taxes	2020 2019 2018 Federal: Current $ (4,308,900) $ 1,037,600 $ 3,073,400 Deferred (2,596,500) 576,200 (1,081,600) State: Current (418,700) 52,600 433,400 Deferred (380,700) 79,000 (148,000) Provision for income taxes $ (7,704,800) $ 1,745,400 $ 2,277,200
Deferred Tax Assets and Liabilities	2020 2019 Deferred tax assets : Deferred compensation $ 264,300 $ 267,300 Accrued vacation 469,100 312,300 Deferred rent 3,258,600 34,500 Allowance for doubtful accounts 1,130,900 488,000 Inventory reserves 2,794,200 1,406,100 Sales tax reserves 122,900 192,900 Sales return assets 1,200,400 478,600 Other liabilities — 205,700 Net operating loss 275,400 141,600 Business interest limitation carryforward 259,300 — Other assets 1,013,600 652,800 10,788,700 4,179,800 Valuation allowance (2,047,300) (141,600) Total deferred tax assets 8,741,400 4,038,200 Deferred tax liabilities : Depreciation and amortization (419,200) (3,094,000) Sales return liabilities (950,600) (365,200) Lease right of use (3,232,900) — Prepaid expenses (1,106,200) (523,700) Total deferred tax liabilities (5,708,900) (3,982,900) Net Deferred Tax Assets $ 3,032,500 $ 55,300
Reconciliation of changes in unrecognized tax benefit amounts, net of interest	2020 2019 2018 Beginning balance of unrecognized tax benefit $ — $ 112,700 $ 204,500 Increases related to current period tax positions — 3,500 — Reductions as a result of a lapse in the applicable statute of limitations — (116,200) (91,800) Ending balance of unrecognized tax benefits $ — $ — $ 112,700

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Mar. 29, 2020
Earnings Per Share
Calculation of Basic and Diluted Earnings Per Common Share	Amounts in thousands, except per share amounts Amounts in thousands, except per share amounts 2020 2019 2018 Earnings per share – Basic: Net earnings $ (21,569) $ 5,546 $ 5,195 Weighted average common shares outstanding – Basic 8,527 8,437 8,371 Earnings per common share – Basic $ (2.53) $ 0.66 $ 0.62 Earnings per share – Diluted: Net earnings $ (21,569) $ 5,546 $ 5,195 Weighted average common shares outstanding – Basic 8,527 8,437 8,371 Effect of dilutive options — 130 100 Weighted average common shares outstanding – Diluted 8,527 8,567 8,471 Earnings per common share – Diluted $ (2.53) $ 0.65 $ 0.61 Anti-dilutive equity awards not included above 852 94 40

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
Stock-Based Compensation (Tables)	Mar. 29, 2020
Stock-Based Compensation
Schedule of Performance Stock Unit activity	2020 2019 2018 Weighted Weighted Weighted Average Fair Average Fair Average Fair Shares Value at Grant Shares Value at Grant Shares Value at Grant Unvested shares available for issue under outstanding PSUs, beginning of period 98,306 $ 14.55 67,000 $ 12.65 170,100 $ 11.17 PSUs Granted 51,616 15.93 71,000 15.58 86,000 12.67 PSUs Vested (29,036) 14.09 (14,257) 12.66 (7,600) 19.58 PSUs Forfeited/Cancelled (52,532) 9.82 (25,437) 13.46 (181,500) 10.99 Unvested shares available for issue under outstanding PSUs, end of period 68,355 $ 19.42 98,306 $ 14.55 67,000 $ 12.65
Nonvested Performance-based Units expected to vest by period	Number of Shares 2020 19,191 2021 10,739 2022 5,309 35,239
Schedule of Stock Options	2020 2019 Weighted Weighted Average Fair Average Fair Shares Value at Grant Shares Value at Grant Unvested options, beginning of period 281,292 $ 2.39 392,500 2.21 Options Granted 405,000 2.53 66,500 3.38 Options Forfeited/Cancelled (81,376) 3.23 (15,000) 4.26 Options Vested (139,542) 2.32 (162,708) 2.20 Unvested options, end of period 465,374 2.38 281,292 2.39 March 29, 2020 Grant Fiscal Year Options Granted Option Exercise Price Options Outstanding Options Exercisable 405,000 $ 13.54 368,000 - 66,500 $ 16.31 44,000 19,125 230,000 $ 15.12 110,000 76,044 410,000 $ 12.57 300,000 261,457 100,000 $ 22.42 40,000 40,000 Total 862,000 396,626
Schedule of assumptions of Black-Scholes-Merton option pricing model	Grant Fiscal Year Expected Stock Price Volatility Risk-Free Interest Rate Expected Dividend Yield Average Expected Term Resulting Black Scholes Value 2020 % % % 4.0 $ 2.53 2019 % % % 4.0 $ 3.38 2018 % % % 4.0 $ 2.57

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
Quarterly Results of Operations (Unaudited) (Tables)	Mar. 29, 2020
Quarterly Results of Operations (Unaudited)
Summarized Quarterly Financial Data	Fiscal Year 2020 Quarters Ended Fiscal Year 2019 Quarters Ended March 29, December 29, September 29, June 30, March 31, December 30, September 30, July 1, 2020 2019 2019 2019 2019 2018 2018 2018 Revenues $ 128,179,900 $ 139,578,200 $ 141,810,900 $ 130,729,300 $ 144,963,800 $ 152,294,500 $ 158,636,100 $ 150,919,400 Cost of goods sold 111,014,000 116,503,900 115,491,600 105,465,800 116,696,600 121,295,800 127,241,400 120,221,300 Gross profit 17,165,900 23,074,300 26,319,300 25,263,500 28,267,200 30,998,700 31,394,700 30,698,100 Selling, general and administrative expenses 27,493,900 26,479,100 25,745,200 28,096,500 27,280,300 27,494,800 29,477,300 28,961,300 Goodwill impairment 9,108,600 2,569,100 — — — — — — Restructuring charges — — — 488,000 — — — — Operating expenses 36,602,500 29,048,200 25,745,200 28,584,500 27,280,300 27,494,800 29,477,300 28,961,300 (Loss) income from operations (19,436,600) (5,973,900) 574,100 (3,321,000) 986,900 3,503,900 1,917,400 1,736,800 Interest, net 204,600 367,900 335,100 208,700 186,700 247,900 244,800 174,400 (Loss) income before (benefit from) provision for income taxes (19,641,200) (6,341,800) 239,000 (3,529,700) 800,200 3,256,000 1,672,600 1,562,400 (Benefit from ) provision for income taxes (5,564,500) (1,320,400) 217,000 (1,036,900) 308,200 551,400 481,800 404,000 Net (loss) income $ (14,076,700) $ (5,021,400) $ 22,000 $ (2,492,800) $ 492,000 $ 2,704,600 $ 1,190,800 $ 1,158,400 Diluted (loss) earnings per share $ (1.65) $ (0.59) $ — $ (0.29) $ 0.06 $ 0.32 $ 0.14 $ 0.13 Cash dividends declared per common share $ 0.02 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20

Organization (Details)

Organization (Details)	12 Months Ended
Organization (Details)	Mar. 29, 2020
US \| Geographic Concentration Risk \| Revenue
Concentration Risk
Concentration risk (as a percent)	96.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - FY, Allowance for Doubtful Accounts and Inventory (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Fiscal Year
Fiscal year duration	364 days	364 days	371 days
Allowance for Doubtful Accounts
Payment period from large majority of commercial customers	30 days
Allowance for doubtful accounts	$ 3,288,800	$ 2,137,900
Product Inventory
Reserves for excess or obsolescence inventory	9,666,100	$ 5,870,600
COVID-19 pandemic
Allowance for Doubtful Accounts
Allowance for doubtful accounts	1,500,000
Product Inventory
Reserves for excess or obsolescence inventory	$ 3,900,000
Minimum
Fiscal Year
Fiscal year duration	364 days
Maximum
Fiscal Year
Fiscal year duration	371 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property, Equipment (Details)	12 Months Ended
	Mar. 29, 2020
Minimum \| Information technology equipment
Property and Equipment
Useful Lives	1 year
Minimum \| Furniture, telephone system, equipment and tooling
Property and Equipment
Useful Lives	3 years
Minimum \| Building, building improvements and leasehold improvements
Property and Equipment
Useful Lives	2 years
Maximum \| Information technology equipment
Property and Equipment
Useful Lives	3 years
Maximum \| Furniture, telephone system, equipment and tooling
Property and Equipment
Useful Lives	10 years
Maximum \| Building, building improvements and leasehold improvements
Property and Equipment
Useful Lives	40 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Intangibles and Other Long-Lived Assets (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Impairment of Long-Lived Assets
Impairment charges	$ 0	$ 0	$ 0
Internally developed computer software \| Minimum
Intangibles and Other Long-Lived Assets
Useful life	1 year
Internally developed computer software \| Maximum
Intangibles and Other Long-Lived Assets
Useful life	3 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 29, 2020	Dec. 29, 2019	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Summary of Significant Accounting Policies
Goodwill impairment	$ 9,108,600	$ 2,569,100	$ 11,677,700
Impairment loss on goodwill or other indefinite lived intangible assets				$ 0	$ 0

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Revenue Recognition, Expenses and Shipping and Handling Costs (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Shipping and Handling Costs
Shipping and handling costs	$ 13,869,500	$ 16,534,200	$ 14,875,100
Income Taxes
Cumulative amount of interest and penalties related to tax uncertainties, net of federal expense (benefit)	$ 0	$ 0	$ 250,500
Maximum
Revenue Recognition
Revenue recorded on net fee basis (as a percent)	1.00%
Service revenue (as a percent)	1.00%	1.00%	1.00%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Pronouncements adopted (Details) - USD ($) $ in Millions	Apr. 01, 2019	Mar. 29, 2020	Sep. 30, 2019	Mar. 31, 2019
Lease, Practical Expedients, Package	true
Lease, Practical Expedient, Lessor Single Lease Component	true
Return asset		$ 2.7		$ 1.5
Return liability		$ 3.4		$ 2
ASU 2018-15, Intangibles-Goodwill and Other–Internal-Use Software
Change in Accounting Principle, Accounting Standards Update, Adopted			true
ASU 2017-04, Intangibles-Goodwill and Other
Change in Accounting Principle, Accounting Standards Update, Adopted		true
Change in Accounting Principle, Accounting Standards Update, Early Adoption		true
ASU 2016-02, Leases
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected	Modified Retrospective
ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments
Change in Accounting Principle, Accounting Standards Update, Adopted	true

Property and Equipment - (Detai

Property and Equipment - (Details) - USD ($)	12 Months Ended
Property and Equipment - (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Property and Equipment
Property and equipment, gross	$ 39,956,600	$ 40,276,400
Less: Accumulated depreciation and amortization	(26,522,900)	(25,272,900)
Property and equipment, net	13,433,700	15,003,500
Depreciation	1,683,000	1,507,300	$ 1,796,500
Land
Property and Equipment
Property and equipment, gross	4,740,800	4,740,800
Building, building improvements and leasehold improvements
Property and Equipment
Property and equipment, gross	20,921,800	20,926,500
Information technology equipment
Property and Equipment
Property and equipment, gross	5,255,000	6,026,300
Furniture, telephone system, equipment and tooling
Property and Equipment
Property and equipment, gross	$ 9,039,000	$ 8,582,800

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets - (Details) - USD ($)	3 Months Ended		12 Months Ended
Goodwill and Other Intangible Assets - (Details) - USD ($)	Mar. 29, 2020	Dec. 29, 2019	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Goodwill and Other Intangible Assets
Goodwill impairment	$ 9,108,600	$ 2,569,100	$ 11,677,700
Increase (decrease) in carrying amount of goodwill				$ 0
Capitalized computer software	10,362,100		10,362,100	5,097,800
Indefinite lived intangible assets	795,400		795,400	795,400
Internally developed computer software
Goodwill and Other Intangible Assets
Amortization expense			$ 1,954,700	$ 1,620,800	$ 1,721,000
Commercial Segment
Goodwill and Other Intangible Assets
Goodwill impairment	$ 9,100,000
Retail Segment
Goodwill and Other Intangible Assets
Goodwill impairment		$ 2,600,000

Accrued expenses and other cu_3

Accrued expenses and other current liabilities - (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Accrued expenses and other current liabilities
Deferred Revenue	$ 3,440,100	$ 1,985,700
Other Accrued Expenses	804,300	666,700
Total Accrued Expenses	4,244,400	2,652,400
Return asset	2,700,000	1,500,000
Return liability	$ 3,400,000	$ 2,000,000

Borrowings Under Revolving Cr_2

Borrowings Under Revolving Credit Facility (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Oct. 19, 2017	Oct. 18, 2017	Jun. 24, 2016
Credit Facility
Revolving line of credit	$ 25,563,900	$ 14,378,100
Revolving Credit Facility
Credit Facility
Maximum borrowing capacity			$ 75,000,000	$ 35,000,000	$ 35,000,000
Interest rate (as a percent)	3.09%	3.99%
Weighted average interest rate during the period (as a percent)	3.52%	3.71%
Interest expense	$ 1,114,900	$ 836,300
Average borrowings during period	33,755,700	22,360,200
Maximum borrowings during period	$ 56,069,900	$ 33,639,500
Commitment fee on unused portion of revolving credit facility (as a percent)	0.25%	0.25%
Revolving line of credit	$ 25,600,000	$ 14,400,000
Available borrowing capacity	49,400,000	60,600,000
Financial covenant threshold	$ 65,000,000	$ 65,000,000

Leases - Office space (Details)

Leases - Office space (Details) - USD ($)	12 Months Ended
Leases - Office space (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Leases
Rent expense	$ 3,046,000
Rent expense		$ 3,001,800	$ 3,041,700
Minimum
Leases
Lease term	1 year
Maximum
Leases
Lease term	6 years
Leased office space, Timonium, Maryland \| Minimum
Leases
Base rental rate per month	$ 179,700
Leased office space, Timonium, Maryland \| Maximum
Leases
Base rental rate per month	203,800
Leased office space, Hunt Valley, Maryland \| Minimum
Leases
Base rental rate per month	39,300
Leased office space, Hunt Valley, Maryland \| Maximum
Leases
Base rental rate per month	43,000
Leased office and warehouse space, San Antonio, Texas \| Minimum
Leases
Base rental rate per month	18,600
Leased office and warehouse space, San Antonio, Texas \| Maximum
Leases
Base rental rate per month	$ 19,100

Leases - Quantitative informati

Leases - Quantitative information (Details)	Mar. 29, 2020USD ($)
Maturities of discounted lease liabilities by fiscal year are as follow:
2021	$ 3,125,500
2022	3,164,000
2023	3,018,300
2024	2,725,700
2025	2,609,900
Thereafter	1,987,600
Total	16,631,000
Less: present value discount	(2,570,700)
Present value of lease liabilities	$ 14,060,300
Weighted-average discount rate - Operating leases	3.80%
Weighted-average remaining lease term	5 years 4 months 24 days

Operating Segments - Segment Ac

Operating Segments - Segment Activity (Details)	3 Months Ended								12 Months Ended
Operating Segments - Segment Activity (Details)	Mar. 29, 2020USD ($)	Dec. 29, 2019USD ($)	Sep. 29, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Jul. 01, 2018USD ($)	Mar. 29, 2020USD ($)segment	Mar. 31, 2019USD ($)	Apr. 01, 2018USD ($)
Business Segments
Number of reportable segment \| segment									2
Market unit activity
Revenues	$ 128,179,900	$ 139,578,200	$ 141,810,900	$ 130,729,300	$ 144,963,800	$ 152,294,500	$ 158,636,100	$ 150,919,400	$ 540,298,300	$ 606,813,800	$ 580,274,700
Gross Profit	17,165,900	23,074,300	26,319,300	25,263,500	28,267,200	30,998,700	31,394,700	30,698,100	91,823,000	121,358,700	120,228,400
(Loss) income before provision for (benefit from) income taxes	$ (19,641,200)	$ (6,341,800)	$ 239,000	$ (3,529,700)	$ 800,200	$ 3,256,000	$ 1,672,600	$ 1,562,400	(29,273,700)	7,291,200	7,472,600
Segments
Market unit activity
Directly allocable expenses									44,808,000	49,627,000	48,127,000
(Loss) income before provision for (benefit from) income taxes									47,015,000	71,732,000	72,101,000
Corporate
Market unit activity
Directly allocable expenses									76,289,000	64,441,000	64,628,000
Public carrier
Market unit activity
Revenues									156,396,000	156,983,000	115,061,000
Gross Profit									18,699,000	20,275,000	16,707,000
Value-added resellers and integrators
Market unit activity
Revenues									252,619,000	262,062,000	270,615,000
Gross Profit									60,943,000	64,130,000	64,620,000
Retail
Market unit activity
Revenues									131,283,000	187,769,000	194,599,000
Gross Profit									12,181,000	36,954,000	38,901,000
Commercial Segment
Market unit activity
Revenues									409,015,000	419,045,000	385,676,000
Gross Profit									79,642,000	84,405,000	81,327,000
Commercial Segment \| Segments
Market unit activity
Directly allocable expenses									32,773,000	33,475,000	32,592,000
(Loss) income before provision for (benefit from) income taxes									46,869,000	50,930,000	48,735,000
Commercial Segment \| Public carrier
Market unit activity
Revenues									156,396,000	156,983,000	115,061,000
Gross Profit									18,699,000	20,275,000	16,707,000
Commercial Segment \| Value-added resellers and integrators
Market unit activity
Revenues									252,619,000	262,062,000	270,615,000
Gross Profit									60,943,000	64,130,000	64,620,000
Retail Segment
Market unit activity
Revenues									131,283,000	187,769,000	194,599,000
Gross Profit									12,181,000	36,954,000	38,901,000
Retail Segment \| Segments
Market unit activity
Directly allocable expenses									12,035,000	16,152,000	15,535,000
(Loss) income before provision for (benefit from) income taxes									146,000	20,802,000	23,366,000
Retail Segment \| Retail
Market unit activity
Revenues									131,283,000	187,769,000	194,599,000
Gross Profit									$ 12,181,000	$ 36,954,000	$ 38,901,000

Operating Segments - Product Ca

Operating Segments - Product Category (Details)	3 Months Ended								12 Months Ended
Operating Segments - Product Category (Details)	Mar. 29, 2020USD ($)	Dec. 29, 2019USD ($)	Sep. 29, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Jul. 01, 2018USD ($)	Mar. 29, 2020USD ($)product	Mar. 31, 2019USD ($)	Apr. 01, 2018USD ($)
Revenue and Gross Profit from External Customers
Number of product categories \| product									4
Revenues	$ 128,179,900	$ 139,578,200	$ 141,810,900	$ 130,729,300	$ 144,963,800	$ 152,294,500	$ 158,636,100	$ 150,919,400	$ 540,298,300	$ 606,813,800	$ 580,274,700
Gross Profit	$ 17,165,900	$ 23,074,300	$ 26,319,300	$ 25,263,500	$ 28,267,200	$ 30,998,700	$ 31,394,700	$ 30,698,100	91,823,000	121,358,700	120,228,400
Base station infrastructure
Revenue and Gross Profit from External Customers
Revenues									286,642,000	292,787,000	248,949,000
Gross Profit									59,033,000	61,458,000	58,015,000
Network systems
Revenue and Gross Profit from External Customers
Revenues									87,553,000	86,555,000	98,642,000
Gross Profit									13,742,000	13,604,000	14,649,000
Installation, test and maintenance
Revenue and Gross Profit from External Customers
Revenues									28,064,000	32,595,000	33,200,000
Gross Profit									5,092,000	6,433,000	6,266,000
Mobile device accessories
Revenue and Gross Profit from External Customers
Revenues									138,039,000	194,877,000	199,484,000
Gross Profit									$ 13,956,000	$ 39,864,000	$ 41,298,000

Restructuring Charge (Details)

Restructuring Charge (Details) - USD ($)	3 Months Ended	12 Months Ended
Restructuring Charge (Details) - USD ($)	Jun. 30, 2019	Mar. 29, 2020
Restructuring Charge
Restructuring charges	$ 488,000	$ 488,000

Stock Buyback (Details)

Stock Buyback (Details) - USD ($)	12 Months Ended
Stock Buyback (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Shares Withheld
Tax withholding for share based compensation	$ 201,000	$ 111,100	$ 65,400

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details)	12 Months Ended
Income Taxes - Reconciliation (Details)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Effective income tax rate reconciliation
Statutory federal rate (as a percent)	21.00%	21.00%	31.30%
State taxes, net of federal benefit (as a percent)	2.00%	3.50%	4.00%
Non-deductible expenses (as a percent)	(0.50%)	2.10%	4.40%
Change in uncertain tax positions (as a percent)		(4.60%)
Change in valuation allowance (as a percent)	(6.50%)	1.90%
Change in deferred tax related to key man life insurance (as a percent)			(7.30%)
Rate change for loss carrybacks	9.90%
Other (as a percent)	0.40%		(1.90%)
Effective rate (as a percent)	26.30%	23.90%	30.50%

Income Taxes - Provision (Detai

Income Taxes - Provision (Details) - USD ($)	3 Months Ended								12 Months Ended
Income Taxes - Provision (Details) - USD ($)	Mar. 29, 2020	Dec. 29, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Federal
Current									$ (4,308,900)	$ 1,037,600	$ 3,073,400
Deferred									(2,596,500)	576,200	(1,081,600)
State
Current									(418,700)	52,600	433,400
Deferred									(380,700)	79,000	(148,000)
Provision for income taxes	$ (5,564,500)	$ (1,320,400)	$ 217,000	$ (1,036,900)	$ 308,200	$ 551,400	$ 481,800	$ 404,000	$ (7,704,800)	$ 1,745,400	$ 2,277,200

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Deferred tax assets :
Deferred compensation	$ 264,300	$ 267,300
Accrued vacation	469,100	312,300
Deferred rent	3,258,600	34,500
Allowance for doubtful accounts	1,130,900	488,000
Inventory reserves	2,794,200	1,406,100
Sales tax reserves	122,900	192,900
Sales return assets	1,200,400	478,600
Other liabilities		205,700
Net operating loss	275,400	141,600
Business interest limitation carryforward	259,300
Other assets	1,013,600	652,800
Total gross deferred tax assets	10,788,700	4,179,800
Valuation allowance	(2,047,300)	(141,600)
Total deferred tax assets	8,741,400	4,038,200
Deferred tax liabilities :
Depreciation and amortization	(419,200)	(3,094,000)
Sales return liabilities	(950,600)	(365,200)
Lease right of use	(3,232,900)
Prepaid expenses	(1,106,200)	(523,700)
Total deferred tax liabilities	(5,708,900)	(3,982,900)
Net Deferred Tax Assets	3,032,500	$ 55,300
Net operating loss carryforwards, Subject to expiration	$ 38,066,068

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($)	12 Months Ended
	Mar. 28, 2021	Mar. 29, 2020	Apr. 01, 2018	Mar. 31, 2019	Mar. 26, 2017
Income Taxes
Unrecognized tax benefits		$ 0	$ 112,700	$ 0	$ 204,500
Amount of interest and penalties expense (benefit) related to tax uncertainties recognized, net of federal expense/benefit	$ 0	250,500	38,100
Cumulative amount of interest and penalties related to tax uncertainties, net of federal expense (benefit)		$ 0	$ 250,500	$ 0

Income Taxes - Changes in unrec

Income Taxes - Changes in unrecognized tax benefits (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Reconciliation of unrecognized tax benefit amounts
Beginning balance of unrecognized tax benefit	$ 112,700	$ 204,500
Increases related to current period tax positions	3,500
Reductions as a result of a lapse in the applicable statute of limitations	(116,200)	(91,800)
Ending balance of unrecognized tax benefits	$ 0	$ 112,700

Income Taxes - Tax Acts (Detail

Income Taxes - Tax Acts (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Tax Acts (Details) - USD ($) $ in Millions	Apr. 01, 2018	Mar. 29, 2020
Income Taxes
Income tax benefit to re-measure deferred tax liabilities	$ 0.2
Tax benefit of current loss carryback under the CARES Act		$ 4.8

Retirement Plans - 401(k) (Deta

Retirement Plans - 401(k) (Details) - USD ($)	12 Months Ended
Retirement Plans - 401(k) (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Retirement Plans
Defined contribution plan expense	$ 937,500	$ 957,100	$ 928,100
Common stock shares included in plan assets (in shares)	180,000

Retirement Plans - Supplemental

Retirement Plans - Supplemental Plan (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Defined Benefit Plan
Plan type	us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember	us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember
Other long-term assets
Defined Benefit Plan
Cash surrender value of life insurance policy	$ 2,523,500	$ 2,326,800
Other long-term liabilities
Defined Benefit Plan
Net present value of benefit obligation	$ 915,700	$ 853,400

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
Earnings Per Share (Details) - USD ($)	Mar. 29, 2020	Dec. 29, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Earnings per share - Basic
Net earnings	$ (14,076,700)	$ (5,021,400)	$ 22,000	$ (2,492,800)	$ 492,000	$ 2,704,600	$ 1,190,800	$ 1,158,400	$ (21,568,900)	$ 5,545,800	$ 5,195,400
Weighted average common shares outstanding - Basic (in shares)									8,526,965	8,436,796	8,370,742
Basic (loss) earnings per share (in dollars per share)									$ (2.53)	$ 0.66	$ 0.62
Earnings per share - Diluted
Net earnings	$ (14,076,700)	$ (5,021,400)	$ 22,000	$ (2,492,800)	$ 492,000	$ 2,704,600	$ 1,190,800	$ 1,158,400	$ (21,568,900)	$ 5,545,800	$ 5,195,400
Weighted average common shares outstanding - Basic (in shares)									8,526,965	8,436,796	8,370,742
Effect of dilutive options (in shares)										130,163	100,263
Diluted weighted-average common shares outstanding (in shares)									8,526,965	8,566,959	8,471,005
Diluted (loss) earnings per share (in dollars per share)	$ (1.65)	$ (0.59)		$ (0.29)	$ 0.06	$ 0.32	$ 0.14	$ 0.13	$ (2.53)	$ 0.65	$ 0.61
Anti-dilutive equity awards (in shares)									852,000	94,000	40,000
Options outstanding (in shares)	862,000								862,000
Stock Options
Earnings per share - Diluted
Anti-dilutive equity awards (in shares)									852,000	94,000	40,000
Options outstanding (in shares)	862,000				591,500				862,000	591,500	540,000
Performance Stock Units
Earnings per share - Diluted
Anti-dilutive equity awards (in shares)									0	0	0
RSUs
Earnings per share - Diluted
Anti-dilutive equity awards (in shares)									0	0	0

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan (Details) - USD ($)	May 15, 2020	May 31, 2020	May 15, 2020	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Stock-based compensation
Income tax benefit from share-based compensation (in dollars)				$ 308,900	$ 297,300	$ 305,400
Number of shares available for grant (in shares)				685,927
Options Granted (in shares)				405,000	66,500
Performance Stock Units
Stock-based compensation
Cancelled (in shares)				52,532	25,437	181,500
Granted (in shares)				51,616	71,000	86,000
Selling, general and administrative expenses
Stock-based compensation
Stock-based compensation (in dollars)				$ 1,174,600	$ 1,244,000	$ 1,002,100
Subsequent Event
Stock-based compensation
Number of shares available for grant (in shares)	407,222		407,222
Options Granted (in shares)			225,000
Subsequent Event \| Performance Stock Units
Stock-based compensation
Cancelled (in shares)	33,116	33,116
Subsequent Event \| Restricted stock and RSUs
Stock-based compensation
Granted (in shares)	86,821
Subsequent Event \| RSUs
Stock-based compensation
Granted (in shares)	21,000
Subsequent Event \| Restricted stock awards
Stock-based compensation
Granted (in shares)	65,821

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Units (Details) - Performance Stock Units - USD ($)	May 01, 2022	May 01, 2021	May 15, 2020	May 01, 2020	May 31, 2020	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018	May 01, 2022
Stock-based compensation
Measurement period						1 year	1 year
PSU Activity
Unvested shares available for issue under outstanding PSUs, beginning of period (in shares)						98,306	67,000	170,100
Granted (in shares)						51,616	71,000	86,000
Vested (in shares)						(29,036)	(14,257)	(7,600)
Forfeited/cancelled (in shares)						(52,532)	(25,437)	(181,500)
Unvested shares available for issue under outstanding PSUs, end of period (in shares)						68,355	98,306	67,000
Unvested PSUs, Weighted-Average Fair Value at Grant Date
Unvested shares available for issue under outstanding PSUs, beginning of period (in dollars per share)						$ 14.55	$ 12.65	$ 11.17
Granted (in dollars per share)						15.93	15.58	12.67
Vested (in dollars per share)						14.09	12.66	19.58
Forfeited/cancelled (in dollars per share)						9.82	13.46	10.99
Unvested shares available for issue under outstanding PSUs, end of period (in dollars per share)						$ 19.42	$ 14.55	$ 12.65
Additional stock based compensation information
Unrecognized compensation costs (in dollars)						$ 300,000
Total fair value of shares vested during period (in dollars)						$ 780,400	$ 460,800	$ 277,600
Shares earned, but not yet vested (in shares)						35,239
Forecast
PSU Activity
Vested (in shares)	(5,309)	(10,739)		(19,191)					(35,239)
Subsequent Event
PSU Activity
Forfeited/cancelled (in shares)			(33,116)		(33,116)

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock and RSUs (Details) $ / shares in Units, $ in Millions	May 15, 2020shares	May 10, 2019individualshares	Aug. 08, 2017$ / sharesshares	May 10, 2017shares	Jun. 06, 2018shares	Mar. 29, 2020USD ($)$ / sharesshares	Mar. 31, 2019shares
RSUs
Stock-based compensation
Shares outstanding (in shares)						62,000
RSUs \| Senior executives
Stock-based compensation
Unrecognized compensation costs, period for recognition						1 year
RSUs \| Senior executives \| Maximum
Stock-based compensation
Unrecognized compensation costs (in dollars) \| $						$ 0.1
RSUs \| President and Chief Executive Officer
Stock-based compensation
Granted (in shares)						19,000
Vesting period						4 years
Denominator in fraction used to calculate number of awards earned \| $ / shares						$ 3.20
Award Date May 10, 2017 \| RSUs \| Non-employee directors and Executive Chairman
Stock-based compensation
Granted (in shares)				18,000
Annual vesting percentage				25.00%
Unrecognized compensation costs, period for recognition						1 year
Award Date May 10, 2017 \| RSUs \| Non-employee directors and Executive Chairman \| Maximum
Stock-based compensation
Unrecognized compensation costs (in dollars) \| $						$ 0.1
Award Date August 8, 2017 \| RSUs \| Senior executives
Stock-based compensation
Granted (in shares)			56,000
Vesting period			4 years
Denominator in fraction used to calculate number of awards earned \| $ / shares			$ 3.20
Cancelled (in shares)						15,000
Shares outstanding (in shares)						41,000
Award Date, May 10, 2019 \| Non-employee directors and Executive Chairman
Stock-based compensation
Granted (in shares)		21,000
Number of individuals that received stock awards \| individual		6
Vesting period		4 years
Unrecognized compensation costs (in dollars) \| $						$ 0.3
Unrecognized compensation costs, period for recognition						3 years
Award Dates, May 10, 2018 and June 6, 2018 \| RSUs \| Non-employee directors and Executive Chairman
Stock-based compensation
Granted (in shares)					21,000
Annual vesting percentage					25.00%
Unrecognized compensation costs (in dollars) \| $						$ 0.2
Unrecognized compensation costs, period for recognition						2 years
Grant Fiscal Year 2019 \| RSUs \| Senior executives
Stock-based compensation
Granted (in shares)							2,000
Subsequent Event \| Restricted stock and RSUs
Stock-based compensation
Granted (in shares)	86,821
Subsequent Event \| RSUs
Stock-based compensation
Granted (in shares)	21,000
Subsequent Event \| RSUs \| Non-employee directors and Executive Chairman
Stock-based compensation
Granted (in shares)	21,000
Annual vesting percentage	25.00%
Subsequent Event \| Restricted stock awards
Stock-based compensation
Granted (in shares)	65,821

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Rollforward (Details) - $ / shares	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Stock Options:
Options forfeited due to employee departures (in shares)	86,375
Weighted-average remaining contractual term	2 years 6 months
Outstanding Options
Unvested options, beginning of period (in shares)	281,292	392,500
Options Granted (in shares)	405,000	66,500
Options Forfeited/Cancelled (in shares)	(81,376)	(15,000)
Options Vested (in shares)	(139,542)	(162,708)
Unvested options, end of period (in shares)	465,374	281,292
Weighted Average Fair Value at Grant
Unvested options, beginning of period (in dollars per share)	$ 2.39	$ 2.21
Options Granted (in dollars per share)	2.53	3.38
Options Forfeited/Cancelled (in dollars per share)	3.23	4.26
Options Vested (in dollars per share)	2.32	2.20
Unvested options, end of period	$ 2.38	$ 2.39
Stock Options \| First year vesting
Stock Options:
Vesting percentage	25.00%
Vesting period	1 year
Stock Options \| Monthly vesting over 36 months
Stock Options:
Monthly percentage of vesting of share based compensation	2.78%
Additional vesting period after the initial period	3 years

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options By Grant Date (Details) - $ / shares	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018	Mar. 26, 2017	Mar. 27, 2016
Outstanding options
Options Granted (in shares)	405,000	66,500
Options Outstanding (in shares)	862,000
Options Exercisable (in shares)	396,626
Grant Fiscal Year 2020
Outstanding options
Options Granted (in shares)	405,000
Option Exercise Price (in dollars per share)	$ 13.54
Options Outstanding (in shares)	368,000
Grant Fiscal Year 2019
Outstanding options
Options Granted (in shares)		66,500
Option Exercise Price (in dollars per share)	$ 16.31
Options Outstanding (in shares)	44,000
Options Exercisable (in shares)	19,125
Grant Fiscal Year 2018
Outstanding options
Options Granted (in shares)			230,000
Option Exercise Price (in dollars per share)	$ 15.12
Options Outstanding (in shares)	110,000
Options Exercisable (in shares)	76,044
Grant Fiscal Year 2017
Outstanding options
Options Granted (in shares)				410,000
Option Exercise Price (in dollars per share)	$ 12.57
Options Outstanding (in shares)	300,000
Options Exercisable (in shares)	261,457
Grant Fiscal Year 2016
Outstanding options
Options Granted (in shares)					100,000
Option Exercise Price (in dollars per share)	$ 22.42
Options Outstanding (in shares)	40,000
Options Exercisable (in shares)	40,000

Stock-Based Compensation - St_3

Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Valuation assumptions
Resulting Black Scholes Value (in dollars per share)	$ 2.53	$ 3.38
Exercise of stock options (in dollars)	$ 681,100
Options Exercised (in shares)	48,125	0	0
Options Exercised, weighted average exercise price (in dollars per share)	$ 14.15
Grant Fiscal Year 2020
Valuation assumptions
Expected Stock Price Volatility (as a percent)	35.88%
Risk-Free Interest rate (as a percent)	2.00%
Expected Dividend Yield (as a percent)	5.82%
Average Expected Term	4 years
Resulting Black Scholes Value (in dollars per share)	$ 2.53
Grant Fiscal Year 2019
Valuation assumptions
Expected Stock Price Volatility (as a percent)		35.59%
Risk-Free Interest rate (as a percent)		3.11%
Expected Dividend Yield (as a percent)		4.99%
Average Expected Term		4 years
Resulting Black Scholes Value (in dollars per share)		$ 3.38
Grant Fiscal Year 2018
Valuation assumptions
Expected Stock Price Volatility (as a percent)			32.63%
Risk-Free Interest rate (as a percent)			1.96%
Expected Dividend Yield (as a percent)			5.34%
Average Expected Term			4 years
Resulting Black Scholes Value (in dollars per share)			$ 2.57
Stock Options
Valuation assumptions
Unrecognized compensation costs (in dollars)	$ 900,000
Unrecognized compensation costs, period for recognition	3 years

Stock-Based Compensation - St_4

Stock-Based Compensation - Stock Option Grants Subsequent to Year End (Details) - shares	May 15, 2020	May 15, 2020	Mar. 29, 2020	Mar. 31, 2019
Stock-based compensation
Options Granted (in shares)			405,000	66,500
Subsequent Event
Stock-based compensation
Options Granted (in shares)		225,000
Subsequent Event \| Stock Options Vesting Based On Service
Stock-based compensation
Options Granted (in shares)		160,000
Subsequent Event \| Stock Options Vesting Based On Performance
Stock-based compensation
Options Granted (in shares)	65,000
First year vesting \| Stock Options
Stock-based compensation
Vesting percentage			25.00%
Vesting period			1 year
First year vesting \| Subsequent Event \| Stock Options Vesting Based On Service
Stock-based compensation
Vesting percentage		25.00%
Vesting period		1 year
First year vesting \| Subsequent Event \| Stock Options Vesting Based On Performance
Stock-based compensation
Vesting percentage	25.00%
Vesting period	1 year
Monthly vesting over 36 months \| Stock Options
Stock-based compensation
Monthly percentage of vesting of share based compensation			2.78%
Additional vesting period after the initial period			3 years
Monthly vesting over 36 months \| Subsequent Event \| Stock Options Vesting Based On Service
Stock-based compensation
Monthly percentage of vesting of share based compensation		2.78%
Additional vesting period after the initial period		3 years
Monthly vesting over 36 months \| Subsequent Event \| Stock Options Vesting Based On Performance
Stock-based compensation
Monthly percentage of vesting of share based compensation	2.78%
Additional vesting period after the initial period	3 years

Stock-Based Compensation - St_5

Stock-Based Compensation - Stock Purchase Plan (Details) - Team Member Stock Purchase Plan - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Stock-based compensation
Number of shares authorized (in shares)	450,000
Purchase price of common stock (as a percent)	85.00%
Purchase period	6 months
Stock-based compensation (in dollars)	$ 78,400	$ 82,600	$ 49,700
Shares sold to employees (in shares)	34,829	19,183	13,423
Weighted-average market value (in dollars per share)	$ 7.51	$ 14.54	$ 11.08

Fair Value Disclosure (Details)

Fair Value Disclosure (Details) - Recurring - USD ($)	Mar. 29, 2020	Mar. 31, 2019
Fair Value
Assets, measured at fair value	$ 0	$ 0
Liabilities, measured at fair value	$ 0	$ 0

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($)	12 Months Ended
Supplemental Cash Flow Information (Details) - USD ($)	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Supplemental Cash Flow Information
Cash paid for income taxes, net of refunds	$ 1,515,300	$ 1,835,400	$ 2,440,000
Cash paid for interest	1,106,300	809,000	406,200
Interest capitalized	$ 87,700	$ 0	$ 0

Concentration of Risk (Details)

Concentration of Risk (Details) - Revenue	12 Months Ended
Concentration of Risk (Details) - Revenue	Mar. 29, 2020itemcustomer	Mar. 31, 2019itemcustomer	Apr. 01, 2018itemcustomer
Customer Concentration Risk
Concentration Risk
Number of customers	1
Concentration risk (as a percent)	11.00%
Customer Concentration Risk \| Top ten customers
Concentration Risk
Number of customers	10	10	10
Concentration risk (as a percent)	31.00%	32.00%	28.00%
Supplier Concentration Risk \| Top ten suppliers
Concentration Risk
Number of suppliers \| item	10	10	10
Concentration risk (as a percent)	50.00%	48.00%	43.00%
Supplier Concentration Risk \| Largest commercial supplier
Concentration Risk
Concentration risk (as a percent)	23.00%	16.00%	11.00%
Supplier Concentration Risk \| Largest retail supplier
Concentration Risk
Concentration risk (as a percent)	7.00%	8.00%	10.00%

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Mar. 29, 2020	Dec. 29, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Summarized quarterly financial data
Revenues	$ 128,179,900	$ 139,578,200	$ 141,810,900	$ 130,729,300	$ 144,963,800	$ 152,294,500	$ 158,636,100	$ 150,919,400	$ 540,298,300	$ 606,813,800	$ 580,274,700
Cost of goods sold	111,014,000	116,503,900	115,491,600	105,465,800	116,696,600	121,295,800	127,241,400	120,221,300	448,475,300	485,455,100	460,046,300
Gross profit	17,165,900	23,074,300	26,319,300	25,263,500	28,267,200	30,998,700	31,394,700	30,698,100	91,823,000	121,358,700	120,228,400
Selling, general and administrative expenses	27,493,900	26,479,100	25,745,200	28,096,500	27,280,300	27,494,800	29,477,300	28,961,300	107,814,700	113,213,700	112,326,700
Goodwill impairment	9,108,600	2,569,100							11,677,700
Restructuring charges				488,000					488,000
Operating expenses	36,602,500	29,048,200	25,745,200	28,584,500	27,280,300	27,494,800	29,477,300	28,961,300
(Loss) income from operations	(19,436,600)	(5,973,900)	574,100	(3,321,000)	986,900	3,503,900	1,917,400	1,736,800	(28,157,400)	8,145,000	7,901,700
Interest, net	204,600	367,900	335,100	208,700	186,700	247,900	244,800	174,400	1,116,300	853,800	429,100
(Loss) income before provision for (benefit from) income taxes	(19,641,200)	(6,341,800)	239,000	(3,529,700)	800,200	3,256,000	1,672,600	1,562,400	(29,273,700)	7,291,200	7,472,600
(Benefit from) provision for income taxes	(5,564,500)	(1,320,400)	217,000	(1,036,900)	308,200	551,400	481,800	404,000	(7,704,800)	1,745,400	2,277,200
Net (loss) income	$ (14,076,700)	$ (5,021,400)	$ 22,000	$ (2,492,800)	$ 492,000	$ 2,704,600	$ 1,190,800	$ 1,158,400	$ (21,568,900)	$ 5,545,800	$ 5,195,400
Diluted (loss) earnings per share (in dollars per share)	$ (1.65)	$ (0.59)		$ (0.29)	$ 0.06	$ 0.32	$ 0.14	$ 0.13	$ (2.53)	$ 0.65	$ 0.61
Cash dividends declared per common share (in dollars per share)	$ 0.02	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.62	$ 0.80	$ 0.80

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)	12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018
Allowance for doubtful accounts:
Change in valuation allowances and reserves
Balance, beginning of period	$ 2,137,900	$ 1,094,900	$ 782,200
Provision/expense	2,100,400	1,721,200	797,100
Write-offs and other adjustments	(949,500)	(678,200)	(484,400)
Balance, end of period	3,288,800	2,137,900	1,094,900
Inventory Reserve:
Change in valuation allowances and reserves
Balance, beginning of period	5,870,600	5,739,700	6,360,600
Provision/expense	11,801,500	4,863,100	4,361,400
Write-offs and other adjustments	(8,006,000)	(4,732,200)	(4,982,300)
Balance, end of period	9,666,100	5,870,600	$ 5,739,700
Allowance for deferred tax asset:
Change in valuation allowances and reserves
Balance, beginning of period	141,600
Provision/expense	1,905,700	141,600
Balance, end of period	$ 2,047,300	$ 141,600