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<div><p style='text-align:left;margin-top:0.05pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >9.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will </font><font style='font-family:Times New Roman;font-size:12pt;' >replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective </font><font style='font-family:Times New Roman;font-size:12pt;' >for the Company on April 1, 2018 (beginning of fiscal 2019). Early adoption is </font><font style='font-family:Times New Roman;font-size:12pt;' >permitted. The standard permits the use of either the re</font><font style='font-family:Times New Roman;font-size:12pt;' >trospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined</font><font style='font-family:Times New Roman;font-size:12pt;' > the effect of the standard on its ongoing financial reporting.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >
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</font><font style='font-family:Times New Roman;font-size:12pt;' >There were no</font><font style='font-family:Times New Roman;font-size:12pt;' > other</font><font style='font-family:Times New Roman;font-size:12pt;' > recently issued accounting pronouncements that impacted the Company’s condensed consolidated financial statements. In addition, the Company did not adopt any new accountin</font><font style='font-family:Times New Roman;font-size:12pt;' >g pronouncemen</font><font style='font-family:Times New Roman;font-size:12pt;' >ts during the quarter ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June 27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' >
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All significant intercompany transactions and accounts have been eliminated in cons</font><font style='font-family:Times New Roman;font-size:12pt;' >olidation.</font><font style='font-family:Times New Roman;font-size:12pt;' > The March 31, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > balance sheet was derived from the audited consolidated financial statements. </font></p><p style='text-align:left;margin-top:12pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > The results of operations for the period ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June 27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > are not necessarily indicative of the results to be expected for the full year.</font></p><p style='text-align:left;margin-top:12pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >During t</font><font style='font-family:Times New Roman;font-size:12pt;' >he three months ended June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >, the Company sold $</font><font style='font-family:Times New Roman;font-size:12pt;' >3</font><font style='font-family:Times New Roman;font-size:12pt;' >,</font><font style='font-family:Times New Roman;font-size:12pt;' >483</font><font style='font-family:Times New Roman;font-size:12pt;' >,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >of Green Giant finished goods inventory to General Mills Operations, LLC (“GMOL”) for cash, on a bill and hold basis, as compared to </font><font style='font-family:Times New Roman;font-size:12pt;' >$</font><font style='font-family:Times New Roman;font-size:12pt;' >4</font><font style='font-family:Times New Roman;font-size:12pt;' >,</font><font style='font-family:Times New Roman;font-size:12pt;' >196</font><font style='font-family:Times New Roman;font-size:12pt;' >,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >for the three months ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >28, 2014</font><font style='font-family:Times New Roman;font-size:12pt;' >. Unde</font><font style='font-family:Times New Roman;font-size:12pt;' >r the terms of the bill and hold agreement, title to the specified inventory transferred to GMOL. The Company believes it has met the criteria required for bill and hold treatment.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The accounting policies followed by the Company are set forth in Note 1</font><font style='font-family:Times New Roman;font-size:12pt;' > to the Company's Consolidated Financial </font><font style='font-family:Times New Roman;font-size:12pt;' >Statements in the Company’s 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > Annual Report on Form 10-K</font><font style='font-family:Times New Roman;font-size:12pt;' >. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >Other footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >United States</font><font style='font-family:Times New Roman;font-size:12pt;' > have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and note</font><font style='font-family:Times New Roman;font-size:12pt;' >s included in the Company's 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > Annual Report on Form 10-K.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > All references to</font><font style='font-family:Times New Roman;font-size:12pt;' > years are fiscal years ended or ending March 31 unless otherwise indicated. Certain percentage tables may not foot due to rounding.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >Reclassifications--Certain previously reported amounts have been reclassified to conform to the current period classific</font><font style='font-family:Times New Roman;font-size:12pt;' >ation.</font></p></div>
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >2.</font><font style='font-family:Times New Roman;font-size:12pt;' > In April 2014, the Company purchased</font><font style='font-family:Times New Roman;font-size:12pt;' > a </font><font style='font-family:Times New Roman;font-size:12pt;' >50</font><font style='font-family:Times New Roman;font-size:12pt;' >% equity interest in Truitt Bros. Inc. ("Truitt") for $</font><font style='font-family:Times New Roman;font-size:12pt;' >16,308,000</font><font style='font-family:Times New Roman;font-size:12pt;' >. The purchase agreement grants the Company the right to acquire the remaining </font><font style='font-family:Times New Roman;font-size:12pt;' >50</font><font style='font-family:Times New Roman;font-size:12pt;' >% ownership of Truitt in the future under certain conditions. </font><font style='font-family:Times New Roman;font-size:12pt;' >Truitt is known for its industry innovation related to packing shelf stable foods in trays, pouches and bowls. Truitt has two state-of-the-art plants located in Oregon and Kentucky. This investment is included in Other Assets in the Condensed Consolidate</font><font style='font-family:Times New Roman;font-size:12pt;' >d Balance Sheets </font><font style='font-family:Times New Roman;font-size:12pt;' >and is accounted for using the equity method of accounting.</font></p></div>
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >3.</font><font style='font-family:Times New Roman;font-size:12pt;' > First-In, First-Out (“FIFO”) based inventory costs exceeded Last-In, First-Out (LIFO) based inventory costs by $</font><font style='font-family:Times New Roman;font-size:12pt;' >162,431</font><font style='font-family:Times New Roman;font-size:12pt;' >,000</font><font style='font-family:Times New Roman;font-size:12pt;' > as of the end of the first quarter of fiscal 2016 as compared to $</font><font style='font-family:Times New Roman;font-size:12pt;' >153,035,000</font><font style='font-family:Times New Roman;font-size:12pt;' > as of the end of the first quarter of fiscal 2015.</font><font style='font-family:Times New Roman;font-size:12pt;' > The LIFO Reserve decreased by $</font><font style='font-family:Times New Roman;font-size:12pt;' >1,637,000</font><font style='font-family:Times New Roman;font-size:12pt;' > in the first three months of fiscal 2016 compared to $</font><font style='font-family:Times New Roman;font-size:12pt;' >349,000</font><font style='font-family:Times New Roman;font-size:12pt;' > in the first three months of fiscal 2015. This reflects the projected impact of an overall cost decrease expected in fiscal 2016 versus fiscal 2015.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font></p></div>
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<div><p style='text-align:left;margin-top:12pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' >During t</font><font style='font-family:Times New Roman;font-size:12pt;' >he three months ended June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >, the Company sold $</font><font style='font-family:Times New Roman;font-size:12pt;' >3</font><font style='font-family:Times New Roman;font-size:12pt;' >,</font><font style='font-family:Times New Roman;font-size:12pt;' >483</font><font style='font-family:Times New Roman;font-size:12pt;' >,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >of Green Giant finished goods inventory to General Mills Operations, LLC (“GMOL”) for cash, on a bill and hold basis, as compared to </font><font style='font-family:Times New Roman;font-size:12pt;' >$</font><font style='font-family:Times New Roman;font-size:12pt;' >4</font><font style='font-family:Times New Roman;font-size:12pt;' >,</font><font style='font-family:Times New Roman;font-size:12pt;' >196</font><font style='font-family:Times New Roman;font-size:12pt;' >,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >for the three months ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >28, 2014</font><font style='font-family:Times New Roman;font-size:12pt;' >. Unde</font><font style='font-family:Times New Roman;font-size:12pt;' >r the terms of the bill and hold agreement, title to the specified inventory transferred to GMOL. The Company believes it has met the criteria required for bill and hold treatment.</font></p></div>
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Seasonal working capital needs are affected by the growing cycles of the vegetables and fruits the Company processes. The majority of vegetable and fruit inventories are produced during the months of Jun</font><font style='font-family:Times New Roman;font-size:12pt;' >e through November and are then sold over the following year. Payment terms for vegetable and fruit produce are generally three months but can vary from a few days to seven months. Accordingly, the Company’s need to draw on the Revolver may fluctuate sig</font><font style='font-family:Times New Roman;font-size:12pt;' >nificantly throughout the year. </font></p><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:36pt;' >The increase in average amount of Revolver</font><font style='font-family:Times New Roman;font-size:12pt;' > borrowi</font><font style='font-family:Times New Roman;font-size:12pt;' >ngs during the first quarter of fiscal 2016</font><font style='font-family:Times New Roman;font-size:12pt;' > c</font><font style='font-family:Times New Roman;font-size:12pt;' >ompared to the first quarter of fiscal 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > was attributable to</font><font style='font-family:Times New Roman;font-size:12pt;' > the </font><font style='font-family:Times New Roman;font-size:12pt;' >stock buyback of $</font><font style='font-family:Times New Roman;font-size:12pt;' >24,929,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >made during the last ye</font><font style='font-family:Times New Roman;font-size:12pt;' >ar ended June 2015 </font><font style='font-family:Times New Roman;font-size:12pt;' >and total Inventories which are $</font><font style='font-family:Times New Roman;font-size:12pt;' >15,266,000</font><font style='font-family:Times New Roman;font-size:12pt;' > higher than the same period last year, partially offset by increased</font><font style='font-family:Times New Roman;font-size:12pt;' > operating results</font><font style='font-family:Times New Roman;font-size:12pt;' > in the first quarter of fiscal 2016 as compared to the first quarter of fiscal 2015.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font></p><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:36pt;' >Gener</font><font style='font-family:Times New Roman;font-size:12pt;' >al terms of the Revolver include payment of i</font><font style='font-family:Times New Roman;font-size:12pt;' >nterest at LIBOR plus a defined s</font><font style='font-family:Times New Roman;font-size:12pt;' >pread.</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:36pt;' >The following table documents the quantitative data for </font><font style='font-family:Times New Roman;font-size:12pt;' >Revolver borrowings during the first quarters of fiscal 2016 and fiscal 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:125.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:125.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >First Quarter</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:72pt;text-align:center;border-color:Black;min-width:72pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >2016</font></td><td colspan='3' rowspan='1' style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >2015</font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:125.25pt;text-align:center;border-color:Black;min-width:125.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:10.5pt;text-align:center;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reported end of period:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:center;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:11.25pt;text-align:center;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:center;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:10.5pt;text-align:center;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Outstanding borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >197,350</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >180,050</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Weighted average interest rate</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.95</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.47</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reported during the period:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Maximum amount of borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >233,000</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >190,000</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Average outstanding borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >207,475</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >171,417</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Weighted average interest rate</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.94</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.59</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td></tr></table></div>
300000000
400000000
24929000
233000000
207475000
0.0194
197350000
0.0195
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >5.</font><font style='font-family:Times New Roman;font-size:12pt;' > During the three-month period ended June 27, 2015, the Company repurchased </font><font style='font-family:Times New Roman;font-size:12pt;' >23,600 </font><font style='font-family:Times New Roman;font-size:12pt;' >shares or $</font><font style='font-family:Times New Roman;font-size:12pt;' >703,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >of its Class A Common Stock as Treasury Stock. As of June 27, 2015, there are </font><font style='font-family:Times New Roman;font-size:12pt;' >2,169,914</font><font style='font-family:Times New Roman;font-size:12pt;' > shares or $</font><font style='font-family:Times New Roman;font-size:12pt;' >61,980,000</font><font style='font-family:Times New Roman;font-size:12pt;' > of repurchased stock.</font><font style='font-family:Times New Roman;font-size:12pt;' > These shares are not considered outstanding. </font></p></div>
61980000
2169914
23600
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >6</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The net periodic benefit cost for the Company’s pension plan consisted of:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:147.75pt;text-align:center;border-color:Black;min-width:147.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:139.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:139.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:center;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 27,</font></td><td style='width:6pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 28,</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:center;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Service Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,519</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,868</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,177</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,032</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected Return on Plan Assets</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2,625)</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2,740)</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortization of Actuarial Loss</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >844</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >31</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortization of Transition Asset</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >27</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td></tr><tr style='height:13.5pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Net Periodic Benefit Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,942</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,191</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >There was a contribution of $</font><font style='font-family:Times New Roman;font-size:12pt;' >600,000</font><font style='font-family:Times New Roman;font-size:12pt;' > to the pension plan</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >in the three </font><font style='font-family:Times New Roman;font-size:12pt;' >month period ended June 27, 2015. </font><font style='font-family:Times New Roman;font-size:12pt;' >No contributions were required or made in the three </font><font style='font-family:Times New Roman;font-size:12pt;' >month period ended June 28, 2014</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font></p></div>
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:147.75pt;text-align:center;border-color:Black;min-width:147.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:139.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:139.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:center;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 27,</font></td><td style='width:6pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 28,</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:center;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:6pt;text-align:center;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Service Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,519</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,868</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,177</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,032</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected Return on Plan Assets</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2,625)</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2,740)</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortization of Actuarial Loss</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >844</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >31</font></td></tr><tr style='height:12.75pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortization of Transition Asset</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:62.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >27</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td></tr><tr style='height:13.5pt;' ><td style='width:217.5pt;text-align:left;border-color:Black;min-width:217.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Net Periodic Benefit Cost</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:70.5pt;text-align:left;border-color:Black;min-width:70.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:62.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,942</font></td><td style='width:6pt;text-align:left;border-color:Black;min-width:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,191</font></td></tr></table></div>
2519000
2177000
2625000
2942000
-844000
27000
0
600000
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >7.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The following table summarizes the restructuring charges</font><font style='font-family:Times New Roman;font-size:12pt;' > and related asset impairment charges</font><font style='font-family:Times New Roman;font-size:12pt;' > record</font><font style='font-family:Times New Roman;font-size:12pt;' >ed and the accruals established</font><font style='font-family:Times New Roman;font-size:12pt;' >: </font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:center;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-Lived</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Severance</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:center;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Asset Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Other Costs</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Total</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='5' rowspan='1' style='width:231pt;text-align:center;border-color:Black;min-width:231pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance March 31, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >715</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >264</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >270</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,249</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >First quarter credit</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(81)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(81)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash payments/write offs</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(597)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(97)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(694)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance June 27, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >37</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >264</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >173</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >474</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance March 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash payments/write offs</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance June 28, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >During fiscal 2015, the Company recorded a restructuring charge of $</font><font style='font-family:Times New Roman;font-size:12pt;' >1,376,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >related to the closing of a plant in the Midwest of which $</font><font style='font-family:Times New Roman;font-size:12pt;' >842,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >was related to severance cost, $</font><font style='font-family:Times New Roman;font-size:12pt;' >264,000</font><font style='font-family:Times New Roman;font-size:12pt;' > was related to equipment costs (contra fixed assets), and $</font><font style='font-family:Times New Roman;font-size:12pt;' >270,000</font><font style='font-family:Times New Roman;font-size:12pt;' > was related to </font><font style='font-family:Times New Roman;font-size:12pt;' >equipment relocation costs. During the first quarter of fiscal</font><font style='font-family:Times New Roman;font-size:12pt;' > 2016, the Company reduced the severance portion of this accrual by $81,000.</font></p></div>
715000
270000
264000
1249000
-3000
-3000
-81000
-597000
-97000
-694000
7000
7000
37000
173000
264000
474000
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:center;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-Lived</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Severance</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:center;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Asset Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Other Costs</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Total</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='5' rowspan='1' style='width:231pt;text-align:center;border-color:Black;min-width:231pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance March 31, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >715</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >264</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >270</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,249</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >First quarter credit</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(81)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(81)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash payments/write offs</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(597)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(97)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(694)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance June 27, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >37</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >264</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >173</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >474</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance March 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash payments/write offs</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font></td></tr><tr style='height:12.75pt;' ><td style='width:156.75pt;text-align:left;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance June 28, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:73.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:73.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font></td></tr></table></div>
1376000
842000
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:-4.5pt;' >8.</font><font style='font-family:Times New Roman;font-size:12pt;' > During the three months ended June 27, 2015, the Company sold unused fixed assets which resulted in a gain of $</font><font style='font-family:Times New Roman;font-size:12pt;' >76,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >as compared to </font><font style='font-family:Times New Roman;font-size:12pt;' >a loss of $</font><font style='font-family:Times New Roman;font-size:12pt;' >29,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >during the three months ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June 28, 2014. Also during the quarter ended June 27, 2015, the </font><font style='font-family:Times New Roman;font-size:12pt;' >Company reversed a provision for the Prop 65 litigation of $</font><font style='font-family:Times New Roman;font-size:12pt;' >200,000</font><font style='font-family:Times New Roman;font-size:12pt;' > and reduced an environmental accrual by $</font><font style='font-family:Times New Roman;font-size:12pt;' >60,000</font><font style='font-family:Times New Roman;font-size:12pt;' >. </font><font style='font-family:Times New Roman;font-size:12pt;' >In addition, during the three months ended June 28, 2014, there was a $</font><font style='font-family:Times New Roman;font-size:12pt;' >250,000</font><font style='font-family:Times New Roman;font-size:12pt;' > charge related to an environmental remediation. These</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >net </font><font style='font-family:Times New Roman;font-size:12pt;' >gain</font><font style='font-family:Times New Roman;font-size:12pt;' >s and losses</font><font style='font-family:Times New Roman;font-size:12pt;' > are included in other operating income and loss in the </font><font style='font-family:Times New Roman;font-size:12pt;' >Unaudited Conden</font><font style='font-family:Times New Roman;font-size:12pt;' >sed Consolidated Statements of N</font><font style='font-family:Times New Roman;font-size:12pt;' >et </font><font style='font-family:Times New Roman;font-size:12pt;' >E</font><font style='font-family:Times New Roman;font-size:12pt;' >arnings</font><font style='font-family:Times New Roman;font-size:12pt;' > (Loss)</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font></p></div>
76000
29000
250000
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >10.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >Earnings</font><font style='font-family:Times New Roman;font-size:12pt;' > (loss) </font><font style='font-family:Times New Roman;font-size:12pt;' >per share for the Quarters </font><font style='font-family:Times New Roman;font-size:12pt;' >Ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June 27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > and </font><font style='font-family:Times New Roman;font-size:12pt;' >June 28, 2014</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >are</font><font style='font-family:Times New Roman;font-size:12pt;' > as</font><font style='font-family:Times New Roman;font-size:12pt;' > follows:</font><font style='font-family:Times New Roman;font-size:12pt;' >
</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:190.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:190.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >F I R S T Q U A R T E R</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >Fiscal </font></td><td colspan='2' rowspan='1' style='width:99pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:99pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >Fiscal</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(Thousands except per share amounts)</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2016</font></td><td colspan='2' rowspan='1' style='width:99pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:99pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2015</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:198pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:198pt;' ><font style='font-family:Times New Roman;font-size:8pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Basic</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net earnings (loss)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,968</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(107)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deduct preferred stock dividends paid</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >6</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >6</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Undistributed earnings (loss)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,962</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(113)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to participating preferred</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >37</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(3)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common shareholders</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,925</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(110)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted average common shares outstanding</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,888</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,801</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Basic earnings (loss) per common share </font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >0.30</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(0.01)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Diluted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common shareholders</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,925</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(110)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Add dividends on convertible preferred stock</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common stock on a diluted basis</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,930</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(105)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted average common shares outstanding-basic</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,888</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,801</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Additional shares issued related to the equity compensation plan</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Additional shares to be issued under full conversion of preferred stock</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >67</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >67</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total shares for diluted</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,960</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,873</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Diluted earnings (loss) per common share</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >0.29</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(0.01)</font></td></tr></table></div>
9888000
6000
2962000
37000
10608000
69837000
301705000
10167000
160540000
7926000
54311000
278843000
7731000
195982000
<div><table style='border-collapse:collapse;' ><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:190.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:190.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >F I R S T Q U A R T E R</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >Fiscal </font></td><td colspan='2' rowspan='1' style='width:99pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:99pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >Fiscal</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(Thousands except per share amounts)</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2016</font></td><td colspan='2' rowspan='1' style='width:99pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:99pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2015</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:198pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:198pt;' ><font style='font-family:Times New Roman;font-size:8pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Basic</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net earnings (loss)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,968</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(107)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deduct preferred stock dividends paid</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >6</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >6</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Undistributed earnings (loss)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,962</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(113)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to participating preferred</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >37</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(3)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common shareholders</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,925</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(110)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted average common shares outstanding</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,888</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,801</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Basic earnings (loss) per common share </font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >0.30</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(0.01)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >Diluted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common shareholders</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,925</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(110)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Add dividends on convertible preferred stock</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Earnings (loss) attributable to common stock on a diluted basis</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >2,930</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(105)</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted average common shares outstanding-basic</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,888</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,801</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Additional shares issued related to the equity compensation plan</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >5</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Arial;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Additional shares to be issued under full conversion of preferred stock</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >67</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >67</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total shares for diluted</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >9,960</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >10,873</font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td><td style='width:91.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' ></font></td></tr><tr style='height:11.25pt;' ><td style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Diluted earnings (loss) per common share</font></td><td style='width:7.5pt;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >0.29</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >$</font></td><td style='width:91.5pt;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:91.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;color:#000000;' >(0.01)</font></td></tr></table></div>
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >11.</font><font style='font-family:Times New Roman;font-size:12pt;' > As required by Accounting Standards Codification ("ASC") 825, “Financial Instruments,” the Company estimates the fair values of financial instruments on a quarterly basis.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The estimated fair value for long-term debt (classified as Level 2 in the fair</font><font style='font-family:Times New Roman;font-size:12pt;' > value hierarchy) is determined by the quoted market prices for similar debt (comparable to the Company’s</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >financial strength) or current rates offered to the Company for debt with the same maturities</font><font style='font-family:Times New Roman;font-size:12pt;' >. Long-term debt, including current portion had a carryi</font><font style='font-family:Times New Roman;font-size:12pt;' >ng amount of </font><font style='font-family:Times New Roman;font-size:12pt;' >$</font><font style='font-family:Times New Roman;font-size:12pt;' >237,904</font><font style='font-family:Times New Roman;font-size:12pt;' >,000</font><font style='font-family:Times New Roman;font-size:12pt;' > and an estimated fair value of $</font><font style='font-family:Times New Roman;font-size:12pt;' >238,850,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >as </font><font style='font-family:Times New Roman;font-size:12pt;' >of </font><font style='font-family:Times New Roman;font-size:12pt;' >June 27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' > As of March 31, 2015, the carrying amount was $</font><font style='font-family:Times New Roman;font-size:12pt;' >274,164,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >and the estimated fair value was $</font><font style='font-family:Times New Roman;font-size:12pt;' >274,999,000</font><font style='font-family:Times New Roman;font-size:12pt;' >. The fair values of all the other financial instruments approxim</font><font style='font-family:Times New Roman;font-size:12pt;' >ate their carrying value due to their short-term nature.</font><font style='font-family:Times New Roman;font-size:12pt;' >
</font></p></div>
237904000
238850000
274164000
274999000
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:0pt;' >12</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >In June 2010, the Company received a Notice of Violation of the California Safe Drinking Water and Toxic Enforcement Act of 1986, commonly known as Proposition 65, from the Environmental Law Foundation ("ELF").  This notice was made to the California </font><font style='font-family:Times New Roman;font-size:12pt;' >Attorney General and various other government officials, and to 49 companies including Seneca Foods Corporation whom ELF alleges manufactured, distributed or sold packaged peaches, pears, fruit cocktail and fruit juice that contain lead without providing a</font><font style='font-family:Times New Roman;font-size:12pt;' > clear and reasonable warning to consumers.  Under California law, proper notice must be made to the State and involved firms at least 60 days before any suit under Proposition 65 may be filed by private litigants like ELF.  That 60-day period has expired </font><font style='font-family:Times New Roman;font-size:12pt;' >and to date neither the California Attorney General nor any appropriate district attorney or city attorney has initiated an action against the Company.  However, private litigant ELF filed an action against the Company and 27 other named companies on Septe</font><font style='font-family:Times New Roman;font-size:12pt;' >mber 28, 2011, in Superior Court of Alameda County, California, alleging violations of Proposition 65 and seeking various measures of relief, including injunctive and declaratory relief and civil penalties.  The Company, along with the other named companie</font><font style='font-family:Times New Roman;font-size:12pt;' >s, vigorously defended the claim.  A responsive answer was filed, the discovery process was completed and a trial on liability was held beginning in April of 2013 in accordance with court schedules.  The trial was completed on May 16, 2013 and, on July 15,</font><font style='font-family:Times New Roman;font-size:12pt;' > 2013 the judge issued a tentative and proposed statement of decision agreeing with the Company, and the other defendants, that the “safe harbor” defense had been met under the regulations relating to Proposition 65 and the Company will not be required to </font><font style='font-family:Times New Roman;font-size:12pt;' >place a Proposition 65 warning label on the products at issue in the case.  The trial decision was finalized and the decision was appealed by ELF with a filing dated October 3, 2013.  The California Court of Appeal, First Appellate District, Division One u</font><font style='font-family:Times New Roman;font-size:12pt;' >nanimously rejected the appeal by ELF in a decision dated March 17, 2015.  ELF filed a petition for review with the California Supreme Court on April 28, 2015, and the petition was denied on July 8, 2015 (after the end of the Company’s fiscal quarter).   W</font><font style='font-family:Times New Roman;font-size:12pt;' >ith the successful defense of the case, the remedies portion of the case was not litigated and the denial of review by the California Supreme Court effectively ends the action, with only a few procedural matters to clean-up as a result of the denial of rev</font><font style='font-family:Times New Roman;font-size:12pt;' >iew.  Our portion of legal fees in defense of this action have been sizable, as would be expected with litigation resulting in trial, and the appeal, but have not had a material adverse impact on the Company’s financial position, results of operations, or </font><font style='font-family:Times New Roman;font-size:12pt;' >cash flows. Additionally, in the ordinary course of its business, the Company is made party to certain legal proceedings seeking monetary damages, including proceedings invoking product liability claims, either directly or through indemnification obligatio</font><font style='font-family:Times New Roman;font-size:12pt;' >ns, and we are not able to predict the probability of the outcome or estimate of loss, if any, related to any such matter.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font></p></div>
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:125.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:125.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >First Quarter</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='3' rowspan='1' style='width:72pt;text-align:center;border-color:Black;min-width:72pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >2016</font></td><td colspan='3' rowspan='1' style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;text-decoration:underline;color:#000000;' >2015</font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td colspan='4' rowspan='1' style='width:125.25pt;text-align:center;border-color:Black;min-width:125.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(In thousands)</font></td><td style='width:10.5pt;text-align:center;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reported end of period:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:center;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:11.25pt;text-align:center;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:center;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:10.5pt;text-align:center;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Outstanding borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >197,350</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >180,050</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Weighted average interest rate</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.95</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.47</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reported during the period:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Maximum amount of borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >233,000</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >190,000</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Average outstanding borrowings</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >207,475</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >171,417</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:335.25pt;text-align:left;border-color:Black;min-width:335.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Weighted average interest rate</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.94</font></td><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' ></font></td><td style='width:53.25pt;text-align:right;border-color:Black;min-width:53.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.59</font></td><td style='width:10.5pt;text-align:left;border-color:Black;min-width:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >%</font></td></tr></table></div>
472412000
6997000
27439000
587293000
14829000
185557000
18015000
805694000
482556000
6952000
12571000
564316000
181885000
15062000
18018000
779281000
32000
86269000
6861000
11411000
20353000
1721000
2570000
9903000
68105000
6344000
11347000
23732000
1787000
2530000
123748000
129217000
2968000
<div><p style='text-align:left;margin-top:5pt;margin-bottom:5pt;line-height:11pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' >14.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >During </font><font style='font-family:Times New Roman;font-size:12pt;' >fiscal 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >, the Company entered into some interim lease notes which financed down payments for various equipment orders a</font><font style='font-family:Times New Roman;font-size:12pt;' >t market rates. As of June 27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' >,</font><font style='font-family:Times New Roman;font-size:12pt;' > one of</font><font style='font-family:Times New Roman;font-size:12pt;' > these interim notes had not been converted into </font><font style='font-family:Times New Roman;font-size:12pt;' >an operating lease</font><font style='font-family:Times New Roman;font-size:12pt;' > since the equipment was not deliver</font><font style='font-family:Times New Roman;font-size:12pt;' >ed. This note for $32</font><font style='font-family:Times New Roman;font-size:12pt;' >,000 as of </font><font style='font-family:Times New Roman;font-size:12pt;' >June 27, 2015, is</font><font style='font-family:Times New Roman;font-size:12pt;' > included in notes payable in the accompanying Condensed C</font><font style='font-family:Times New Roman;font-size:12pt;' >onsolidated Balance Sheets. This note</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >is expected to be</font><font style='font-family:Times New Roman;font-size:12pt;' > converted into</font><font style='font-family:Times New Roman;font-size:12pt;' > an operating lease</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >within the next three</font><font style='font-family:Times New Roman;font-size:12pt;' > months</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font></p></div>
0.35
1.013
92000
384000
0.312
1.302
57302000
17018000
54960000
200000
4880000
67000
9960000
5000
2930000
5000
7956046
1967958
0
0
13839000
2968000
15266000
270000
60000
<div><p style='text-align:left;margin-top:5pt;margin-bottom:5pt;line-height:11pt;' ><font style='font-family:Times New Roman;font-size:12pt;margin-left:4.5pt;' >13</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The effective tax rate was </font><font style='font-family:Times New Roman;font-size:12pt;' >35.</font><font style='font-family:Times New Roman;font-size:12pt;' >0</font><font style='font-family:Times New Roman;font-size:12pt;' >% and </font><font style='font-family:Times New Roman;font-size:12pt;' >136.3</font><font style='font-family:Times New Roman;font-size:12pt;' >% for the </font><font style='font-family:Times New Roman;font-size:12pt;' >three</font><font style='font-family:Times New Roman;font-size:12pt;' > month periods ended </font><font style='font-family:Times New Roman;font-size:12pt;' >June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >27, 2015</font><font style='font-family:Times New Roman;font-size:12pt;' > and </font><font style='font-family:Times New Roman;font-size:12pt;' >June</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >28, 2014</font><font style='font-family:Times New Roman;font-size:12pt;' >, respectively. </font><font style='font-family:Times New Roman;font-size:12pt;' >With the low pre-tax earnings in the prior year’s first</font><font style='font-family:Times New Roman;font-size:12pt;' > quarter, permanent items have a larger impact on the effective tax rate. </font><font style='font-family:Times New Roman;font-size:12pt;' >Of the </font><font style='font-family:Times New Roman;font-size:12pt;' >101</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font><font style='font-family:Times New Roman;font-size:12pt;' >3</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >percentage point </font><font style='font-family:Times New Roman;font-size:12pt;' >de</font><font style='font-family:Times New Roman;font-size:12pt;' >crease in the effective tax rate for this period, t</font><font style='font-family:Times New Roman;font-size:12pt;' >he major contributors to this de</font><font style='font-family:Times New Roman;font-size:12pt;' >crease are the following item</font><font style='font-family:Times New Roman;font-size:12pt;' >: the re-establishment of the valuati</font><font style='font-family:Times New Roman;font-size:12pt;' >on allowance</font><font style='font-family:Times New Roman;font-size:12pt;' > related to New York State Investment Tax Credit </font><font style='font-family:Times New Roman;font-size:12pt;' >of $</font><font style='font-family:Times New Roman;font-size:12pt;' >384,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >charge (</font><font style='font-family:Times New Roman;font-size:12pt;' >130.2</font><font style='font-family:Times New Roman;font-size:12pt;' > percentage points) last quarter, due to a change in the law, which is a discrete item and therefore is required to be recorded in the prior year’s first quarter. This i</font><font style='font-family:Times New Roman;font-size:12pt;' >tem was partially offset by $</font><font style='font-family:Times New Roman;font-size:12pt;' >92,000 </font><font style='font-family:Times New Roman;font-size:12pt;' >credit (</font><font style='font-family:Times New Roman;font-size:12pt;' >31.2</font><font style='font-family:Times New Roman;font-size:12pt;' > percentage points) related to interest received on tax refunds also recorded in the prior year’s first quarter.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:12pt;' >The </font><font style='font-family:Times New Roman;font-size:12pt;' >research and experimentation credit, </font><font style='font-family:Times New Roman;font-size:12pt;' >work opportunity credit and </font><font style='font-family:Times New Roman;font-size:12pt;' >fuel tax credit </font><font style='font-family:Times New Roman;font-size:12pt;' >have not b</font><font style='font-family:Times New Roman;font-size:12pt;' >een signed into law so there is no provision for these credits in the current or prior quarter</font><font style='font-family:Times New Roman;font-size:12pt;' >.</font></p></div>