Annual report pursuant to Section 13 and 15(d)

Note 11 - Commitments and Contingencies

v2.4.1.9
Note 11 - Commitments and Contingencies
12 Months Ended
Mar. 28, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

11     Commitments and Contingencies


The Company leases a 47,300 square foot facility located in San Ramon, California that expires in December 31, 2016. The Company leased a 33,400 square foot facility located in Santa Rosa, California, under a lease that expired May 31, 2013. The Company did not extend the Santa Rosa lease and vacated the facility on May 31, 2013. All of the Company’s operations are in the San Ramon facility as of March 28, 2015.


The Company also leases certain other equipment under operating leases.


Total future minimum lease payments under these leases are as follows.


Fiscal year (Dollars in thousands)

 

 

 

 

2016

 

 

758

 

2017

 

 

523

 

2018

 

 

 

2019

   

 

Thereafter

 

 

 

Total

 

$

1,281

 


The aggregate rental expense was $654,000 and $630,000 in fiscal 2015 and 2014, respectively.


The Company leases certain equipment under capital leases that expire through May 2019. Capital leases with costs totaling $319,000 and $456,000 are reported net of accumulated depreciation of $60,000 and $91,000 at March 28, 2015 and March 29, 2014, respectively.


Total future minimum lease payments under these capital leases are as follows.


Fiscal year (Dollars in thousands)

 

Principal

 

 

Interest

 

 

Total

 

2016

 

$

69

 

 

$

14

 

 

$

83

 

2017

 

 

17

 

 

 

9

 

 

 

26

 

2018

 

 

20

 

 

 

6

 

 

 

26

 

2019

 

 

18

 

 

 

2

 

 

 

20

 

2020

 

 

3

 

 

 

 

 

 

3

 

Total

 

$

127

 

 

$

31

 

 

$

158

 

The Company is committed to purchase certain inventory under non-cancelable purchase orders. As of March 28, 2015, total non–cancelable purchase orders were approximately $1.6 million and are scheduled to be delivered to the Company at various dates through March 2016.


A sole distributor of certain products has made a claim for commissions in connection with prior and future sales by the company for products that the Company believes are excluded from the distribution agreement. The potential liability from the claim, if any, cannot be reasonably estimated at this time.