Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.22.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Dec. 25, 2021
Dec. 26, 2020
Dec. 25, 2021
Dec. 26, 2020
Revenue $ 1,974,000 $ 4,084,000 $ 7,591,000 $ 10,324,000
Cost of revenue 1,238,000 2,527,000 4,734,000 6,213,000
Gross profit 736,000 1,557,000 2,857,000 4,111,000
Operating expenses:        
Engineering 218,000 557,000 854,000 1,548,000
Selling, general and administrative 1,296,000 937,000 3,444,000 2,832,000
Total operating expenses 1,514,000 1,494,000 4,298,000 4,380,000
Operating income (loss) (778,000) 63,000 (1,441,000) (269,000)
Gain on extinguishment of PPP Loan 0 791,000 0 791,000
Interest expense, net and other:        
Interest expense, net (13,000) (21,000) (27,000) (85,000)
Other income (expense), net 0 0 (65,000) 0
Income (loss) before income taxes (791,000) 833,000 (1,533,000) 437,000
Provision for income taxes 2,000 0 10,000 2,000
Net income (loss) (793,000) 833,000 (1,543,000) 435,000
Deemed dividend on Series E preferred stock (2,000) (3,000) (7,000) (10,000)
Cumulative dividends on converted Series E preferred stock 0 0 (43,000) 0
Net income (loss) attributable to common shareholders $ (795,000) $ 830,000 $ (1,593,000) $ 425,000
Income (loss) per common share – basic (in dollars per share) $ (0.29) $ 0.33 $ (0.58) $ 0.17
Income (loss) per common share – diluted (in dollars per share) $ (0.29) $ 0.28 $ (0.58) $ 0.14
Weighted average common shares used in per share calculation:        
Basic (in shares) 2,725 2,549 2,725 2,549
Diluted (in shares) 2,725 2,933 2,725 2,933
Goods [Member]        
Revenue $ 164,000 $ 1,559,000 $ 512,000 $ 3,490,000
Services [Member]        
Revenue $ 1,810,000 $ 2,525,000 $ 7,079,000 $ 6,834,000