Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.4.0.3
Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Mar. 26, 2016
Mar. 28, 2015
Net sales $ 14,596,000 $ 18,452,000
Cost of sales 9,975,000 10,445,000
Gross margin 4,621,000 8,007,000
Operating expenses:    
Engineering 2,806,000 3,210,000
Selling, general and administrative 5,522,000 4,783,000
Total operating expenses 8,328,000 7,993,000
Operating (loss)/income (3,707,000) $ 14,000
Loss on adjustment of warrant liability to fair value $ (12,000)
Warrant expense $ (1,232,000)
Other loss 2,000
Interest expense:    
Interest expense, net $ (218,000) (254,000)
Interest expense from accretion of loan discount (165,000) (152,000)
Total interest expense, net (383,000) (406,000)
Loss before income taxes (4,102,000) (1,626,000)
Provision for income taxes 2,000 47,000
Net loss $ (4,104,000) $ (1,673,000)
Loss per common share - basic (in dollars per share) $ (0.59) $ (0.32)
Loss per common share - diluted (in dollars per share) $ (0.59) $ (0.32)
Weighted average common shares used in per share calculation:    
Basic (in shares) 6,941 5,279
Diluted (in shares) 6,941 5,279