Hawkins (HWKN) 10-Q 27 Oct 21 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 26, 2021	Oct. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 26, 2021
Document Transition Report	false
Entity File Number	0-7647
Entity Registrant Name	HAWKINS, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0771293
Entity Address, Address Line One	2381 Rosegate
Entity Address, City or Town	Roseville
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55113
City Area Code	612
Local Phone Number	331-6910
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	HWKN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,112,683
Entity Central Index Key	0000046250
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--04-03

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Assets, Current [Abstract]
Cash and cash equivalents	$ 6,802	$ 2,998
Trade accounts receivables, net	90,057	90,603
Inventories	70,338	63,864
Income taxes receivable	0	175
Prepaid expenses and other current assets	2,478	5,367
Total current assets	169,675	163,007
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT:	307,021	300,404
Less accumulated depreciation	163,910	155,792
Net property, plant, and equipment	143,111	144,612
Other Assets [Abstract]
Right-of-use assets	11,045	11,630
Goodwill	72,417	70,720
Intangible assets, net of accumulated amortization	73,666	76,368
Other	7,890	6,213
Total other assets	165,018	164,931
Total assets	477,804	472,550
Liabilities, Current [Abstract]
Accounts payable — trade	43,004	37,313
Accrued payroll and employee benefits	12,417	18,048
Income tax payable	877	0
Current portion of long-term debt	9,907	9,907
Short-term lease liability	1,625	1,587
Container deposits	1,528	1,452
Other current liabilities	2,191	2,155
Total current liabilities	71,549	70,462
LONG-TERM DEBT, LESS CURRENT PORTION	73,891	88,845
LONG-TERM LEASE LIABILITY	9,553	10,231
PENSION WITHDRAWAL LIABILITY	4,455	4,631
DEFERRED INCOME TAXES	24,445	24,445
DEFERRED COMPENSATION LIABILITY	8,289	7,322
OTHER LONG-TERM LIABILITIES	1,309	1,368
Total liabilities	193,491	207,304
COMMITMENTS AND CONTINGENCIES	0	0
SHAREHOLDERS’ EQUITY:
Common stock; authorized: 60,000,000 shares of $0.01 par value; 20,888,923 and 20,969,746 shares issued and outstanding as of September 26, 2021 and March 28, 2021, respectively	209	210
Additional paid-in capital	44,801	51,138
Retained earnings	239,303	213,898
Total shareholders’ equity	284,313	265,246
Total liabilities and shareholders’ equity	$ 477,804	$ 472,550

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Sep. 26, 2021	Mar. 28, 2021
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	60,000,000	60,000,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common Stock, Shares, Issued	20,888,923	20,969,746
Common Stock, Shares, Outstanding	20,888,923	20,969,746

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Income Statement [Abstract]
Sales	$ 183,277	$ 147,801	$ 364,518	$ 290,973
Cost of sales	(145,990)	(115,004)	(288,257)	(227,200)
Gross profit	37,287	32,797	76,261	63,773
Selling, general and administrative expenses	(17,679)	(16,221)	(34,535)	(31,259)
Operating income	19,608	16,576	41,726	32,514
Interest expense, net	(329)	(339)	(678)	(719)
Other income	184	327	416	804
Income before income taxes	19,463	16,564	41,464	32,599
Income tax expense	(5,330)	(4,374)	(10,703)	(8,621)
Net income	$ 14,133	$ 12,190	$ 30,761	$ 23,978
Weighted average number of shares outstanding - basic	20,986,542	21,055,782	21,010,422	21,053,022
Weighted average number of shares outstanding - diluted	21,140,087	21,245,762	21,168,809	21,268,562
Basic earnings per share
Basic earnings per share	$ 0.67	$ 0.58	$ 1.46	$ 1.14
Diluted earnings per share
Diluted earnings per share	0.67	0.57	1.45	1.13
Cash dividends declared per common share	$ 0.13000	$ 0.11625	$ 0.25250	$ 0.23250

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Other comprehensive income (loss), net of tax:
Net income	$ 14,133	$ 12,190	$ 30,761	$ 23,978
Unrealized gain on interest rate swap	0	39	0	29
Total comprehensive income	$ 14,133	$ 12,229	$ 30,761	$ 24,007

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholder's Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Shares outstanding, beginning balance at Mar. 29, 2020		21,024,458
Stockholders' equity, beginning balance at Mar. 29, 2020	$ 233,484	$ 211	$ 50,405	$ 182,947	$ (79)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,479)	0	0	(2,479)	0
Share-based compensation expense	700	$ 0	700	0	0
Vesting of restricted stock (shares)		10,526
Vesting of restricted stock	0	$ 0	0	0	0
Shares surrendered for payroll taxes (shares)		3,314
Shares surrendered for payroll taxes	(54)	$ 0	(54)	0	0
Other comprehensive gain (loss), net of tax	(10)	0	0	0	(10)
Net income	11,788	$ 0	0	11,788	0
Shares outstanding, ending balance at Jun. 28, 2020		21,090,406
Stockholders' equity, ending balance at Jun. 28, 2020	254,637	$ 211	52,510	201,966	(50)
Shares outstanding, beginning balance at Mar. 29, 2020		21,024,458
Stockholders' equity, beginning balance at Mar. 29, 2020	233,484	$ 211	50,405	182,947	(79)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares surrendered for payroll taxes	(54)
Shares repurchased	0
Other comprehensive gain (loss), net of tax	29
Net income	23,978
Shares outstanding, ending balance at Sep. 27, 2020		21,031,670
Stockholders' equity, ending balance at Sep. 27, 2020	243,429	$ 211	51,051	192,256	(89)
Shares outstanding, beginning balance at Jun. 28, 2020		21,090,406
Stockholders' equity, beginning balance at Jun. 28, 2020	254,637	$ 211	52,510	201,966	(50)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,480)	0	0	(2,480)	0
Share-based compensation expense	686	$ 0	686	0	0
Vesting of restricted stock (shares)		16,016
Vesting of restricted stock	0	$ 0	0	0	0
ESPP shares issued (shares)		42,720
ESPP shares issued	$ 773	$ 0	773	0	0
Shares repurchased (shares)	0
Other comprehensive gain (loss), net of tax	$ 39	0	0	0	39
Net income	12,190	$ 0	0	12,190	0
Shares outstanding, ending balance at Sep. 27, 2020		21,031,670
Stockholders' equity, ending balance at Sep. 27, 2020	243,429	$ 211	51,051	192,256	(89)
Shares outstanding, beginning balance at Mar. 28, 2021		20,969,746
Stockholders' equity, beginning balance at Mar. 28, 2021	265,246	$ 210	51,138	213,898	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,600)	0	0	(2,600)	0
Share-based compensation expense	799	$ 0	799	0	0
Vesting of restricted stock (shares)		123,002
Vesting of restricted stock	0	$ 1	(1)	0	0
Shares surrendered for payroll taxes (shares)		(45,390)
Shares surrendered for payroll taxes	(1,467)	$ 0	(1,467)	0	0
Shares repurchased (shares)		(100,954)
Shares repurchased	(3,401)	$ (1)	(3,400)	0	0
Net income	16,628	$ 0	0	16,628	0
Shares outstanding, ending balance at Jun. 27, 2021		20,946,404
Stockholders' equity, ending balance at Jun. 27, 2021	275,205	$ 210	47,069	227,926	0
Shares outstanding, beginning balance at Mar. 28, 2021		20,969,746
Stockholders' equity, beginning balance at Mar. 28, 2021	265,246	$ 210	51,138	213,898	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares surrendered for payroll taxes	$ (1,467)
Shares repurchased (shares)	(209,963)
Shares repurchased	$ (7,421)
Other comprehensive gain (loss), net of tax	0
Net income	30,761
Shares outstanding, ending balance at Sep. 26, 2021		20,888,923
Stockholders' equity, ending balance at Sep. 26, 2021	284,313	$ 209	44,801	239,303	0
Shares outstanding, beginning balance at Jun. 27, 2021		20,946,404
Stockholders' equity, beginning balance at Jun. 27, 2021	275,205	$ 210	47,069	227,926	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,756)	0	0	(2,756)	0
Share-based compensation expense	862	$ 0	862	0	0
Vesting of restricted stock (shares)		11,228
Vesting of restricted stock	0	$ 0	0	0	0
ESPP shares issued (shares)		40,300
ESPP shares issued	$ 889	$ 0	889	0	0
Shares repurchased (shares)	(109,009)	(109,009)
Shares repurchased	$ (4,020)	$ (1)	(4,019)	0	0
Other comprehensive gain (loss), net of tax	0
Net income	14,133	$ 0	0	14,133	0
Shares outstanding, ending balance at Sep. 26, 2021		20,888,923
Stockholders' equity, ending balance at Sep. 26, 2021	$ 284,313	$ 209	$ 44,801	$ 239,303	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 30,761	$ 23,978
Changes in operating accounts providing (using) cash:
Depreciation and amortization	11,889	11,065
Operating leases	948	963
Gain on deferred compensation assets	(416)	(804)
Stock compensation expense	1,661	1,386
Other	54	135
Trade receivables	596	(5,811)
Inventories	(6,458)	(8,004)
Accounts payable	5,116	(1,421)
Accrued liabilities	(5,392)	(2,320)
Lease liabilities	(991)	(963)
Income taxes	1,053	792
Other	1,261	1,142
Net cash provided by operating activities	40,082	20,138
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(6,904)	(8,120)
Acquisitions	(1,200)	(25,000)
Other	181	105
Net cash used in investing activities	(7,923)	(33,015)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends declared and paid	(5,356)	(4,959)
New shares issued	889	773
Shares surrendered for payroll taxes	(1,467)	(54)
Shares repurchased	(7,421)	0
Net (payments on) proceeds from revolving loan	(15,000)	16,000
Net cash (used in) provided by financing activities	(28,355)	11,760
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	3,804	(1,117)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	2,998	4,277
CASH AND CASH EQUIVALENTS, END OF PERIOD	6,802	3,160
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for income taxes	9,650	7,845
Cash paid for interest	563	610
Noncash investing activities - capital expenditures in accounts payable	$ 1,076	$ 191

Accounting Policies

Accounting Policies	6 Months Ended
	Sep. 26, 2021
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Basis of Presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, accordingly, do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the fiscal year ended March 28, 2021 , previously filed with the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly our financial position and the results of our operations and cash flows for the periods presented. All adjustments made to the interim condensed consolidated financial statements were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the six months ended September 26, 2021 are not necessarily indicative of the results that may be expected for the full year. References to fiscal 2020 refer to the fiscal year ended March 29, 2020, references to fiscal 2021 refer to the fiscal year ended March 28, 2021 and references to fiscal 2022 refer to the fiscal year ending April 3, 2022. As compared to our normal 52-week fiscal years, fiscal 2022 will be a 53-week year, with the extra week to be recorded in our fourth quarter's results of operations. Use of Estimates. The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, income taxes and related accounts and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Accounting Policies. The accounting policies we follow are set forth in Note 1 – Nature of Business and Significant Accounting Policies to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended March 28, 2021 , previously filed with the SEC. There has been no significant change in our accounting policies since the end of fiscal 2021.

Business Combinations

Business Combinations	6 Months Ended
	Sep. 26, 2021
Business Combinations [Abstract]
Business Combination Disclosure	Acquisitions Acquisition of Southeast Water Systems LLC: On September 20, 2021, we acquired substantially all the assets of Southeast Water Systems LLC, under the terms of an asset purchase agreement with Southeast Water Systems and its shareholders. We paid $1.2 million at closing for the acquisition and may pay up to an additional $1.0 million over the next three years based on achieving certain goals. Southeast Water Systems supplied and installed water treatment chemical equipment to its customers located primarily in Alabama, southern Georgia and the Florida panhandle. The results of operations since the acquisition date, and the assets, including the goodwill associated with this acquisition, are included in our Water Treatment segment. Costs associated with this transaction were not material and were expensed as incurred. The acquisition has been accounted for under the acquisition method of accounting, under which the total purchase price is allocated to the net tangible and intangible assets and liabilities of Southeast Water Systems acquired in connection with the acquisition based on their estimated fair values. We estimated the fair values of the assets acquired and liabilities assumed using a discounted cash flow analysis (income approach). Of the total $2.2 million purchase price, we allocated $0.4 million to finite-lived intangible assets, primarily customer relationships to be amortized over 10 years, and $0.1 million to property, plant and equipment. The residual amount of $1.7 million was allocated to goodwill. The goodwill recognized as a result of this acquisition is primarily attributable to strategic and synergistic benefits, as well as the assembled workforce. Such goodwill is expected to be deductible for tax purposes. Acquisitions of C&L Aqua Professionals, Inc. and LC Blending, Inc. : In the fourth quarter of fiscal 2021, we acquired substantially all the assets of C&L Aqua Professionals, Inc. and LC Blending, Inc. (together, "C&L Aqua") under the terms of an asset purchase agreement among us, C&L Aqua and its shareholders. We paid $16 million for the acquisition. C&L Aqua was a water treatment chemical distribution company operating primarily in Louisiana. The results of operations since the acquisition date, and the assets, including the goodwill associated with this acquisition, are included in our Water Treatment segment. Costs associated with this transaction were not material and were expensed as incurred. Acquisition of Property : In the third quarter of fiscal 2021, we acquired a manufacturing facility on 28 acres located adjacent to our facility in Rosemount, Minnesota to allow further expansion and growth in both our Industrial and Water Treatment segments. We paid $10 million for the property. The purchase of this facility added approximately 40,000 square feet of manufacturing and warehouse space to bring us to a total of 105,000 square feet of space on 56 acres of land in the area, with rail access at both of the sites to allow for future growth and provide for supply chain flexibility on certain raw materials to better serve our customers.

Revenue

Revenue	6 Months Ended
	Sep. 26, 2021
Disaggregation of Revenue [Abstract]
Revenue from Contract with Customer	Revenue Our revenue arrangements generally consist of a single performance obligation to transfer promised goods or services. We disaggregate revenues from contracts with customers by operating segments as well as types of products sold. Reporting by operating segment is pertinent to understanding our revenues, as it aligns to how we review the financial performance of our operations. Types of products sold within each operating segment help us to further evaluate the financial performance of our segments. The following tables disaggregate external customer net sales by major revenue stream for the three and six months ended September 26, 2021 and September 27, 2020: Three months ended September 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 13,663 $ 5,242 $ 30,062 $ 48,967 Manufactured, blended or repackaged products (2) 68,150 56,373 7,883 132,406 Other 1,355 496 53 1,904 Total external customer sales $ 83,168 $ 62,111 $ 37,998 $ 183,277 Three months ended September 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 9,313 $ 4,358 $ 28,953 $ 42,624 Manufactured, blended or repackaged products (2) 51,155 44,838 8,133 104,126 Other 703 344 4 1,051 Total external customer sales $ 61,171 $ 49,540 $ 37,090 $ 147,801 Six months ended September 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 25,506 $ 9,795 $ 61,004 $ 96,305 Manufactured, blended or repackaged products (2) 140,716 107,601 15,934 264,251 Other 2,796 953 213 3,962 Total external customer sales $ 169,018 $ 118,349 $ 77,151 $ 364,518 Six months ended September 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 18,137 $ 8,233 $ 54,898 $ 81,268 Manufactured, blended or repackaged products (2) 112,997 80,344 14,231 207,572 Other 1,539 677 (83) 2,133 Total external customer sales $ 132,673 $ 89,254 $ 69,046 $ 290,973 (1) For our Industrial and Water Treatment segments, this line includes our bulk products that we do not modify in any way, but receive, store, and ship from our facilities, or direct ship to our customers in large quantities. For our Health and Nutrition segment, this line includes our non-manufactured distributed specialty products, which may be sold out of one of our facilities or direct shipped to our customers. (2) For our Industrial and Water Treatment segments, this line includes our non-bulk specialty products that we either manufacture, blend, repackage, resell in their original form, or direct ship to our customers in smaller quantities, and services we provide for our customers. For our Health and Nutrition segment, this line includes products manufactured, processed or repackaged in our facility and/or with our equipment.

Earnings per Share

Earnings per Share	6 Months Ended
	Sep. 26, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted-average number of common shares outstanding. Diluted EPS includes the dilutive impact of incremental shares assumed to be issued as performance units and restricted stock. Basic and diluted EPS were calculated using the following: Three Months Ended Six Months Ended September 26, 2021 September 27, 2020 September 26, 2021 September 27, 2020 Weighted-average common shares outstanding—basic 20,986,542 21,055,782 21,010,422 21,053,022 Dilutive impact of performance units and restricted stock 153,545 189,980 158,387 215,540 Weighted-average common shares outstanding—diluted 21,140,087 21,245,762 21,168,809 21,268,562 For each of the periods presented, there were no shares excluded from the calculation of weighted-average common shares for diluted EPS.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 26, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	Fair Value Measurements Our financial assets and liabilities are measured at fair value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We classify the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable or can be corroborated by observable market data for the asset or liability. Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity. These fair values are determined using pricing models for which the assumptions utilize management’s estimates or market participant assumptions. Assets and Liabilities Measured at Fair Value on a Recurring Basis. The fair value hierarchy requires the use of observable market data when available. In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Our financial assets that are measured at fair value on a recurring basis are assets held in a deferred compensation retirement plan. As of September 26, 2021 and March 28, 2021, the assets held in a deferred compensation retirement plan were classified as other long-term assets on our balance sheet, with the portion of the plan assets expected to be paid within twelve months classified as current assets on our balance sheet. The deferred compensation plan assets relate to contributions made to a non-qualified compensation plan on behalf of certain employees who are classified as “highly compensated employees” as determined by IRS guidelines. The assets are part of a rabbi trust and the funds are held in mutual funds. The fair value of the deferred compensation is based on the quoted market prices for the mutual funds at the end of the period. The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of September 26, 2021 and March 28, 2021. 0 (In thousands) September 26, 2021 March 28, 2021 Assets Deferred compensation plan assets Level 1 $ 7,364 $ 5,946

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Sep. 26, 2021
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	Assets Held for Sale Included in assets held for sale as of March 28, 2021 was $0.7 million for an office building in St. Louis, Missouri which was utilized in the administration of our Industrial segment and $0.2 million for a water treatment branch located in Eldridge, Iowa, which has been relocated to another owned facility. Both were sold in the first quarter of fiscal 2022.

Inventories

Inventories	6 Months Ended
	Sep. 26, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at September 26, 2021 and March 28, 2021 consisted of the following: September 26, March 28, (In thousands) Inventory (FIFO basis) $ 80,682 $ 69,438 LIFO reserve (10,344) (5,574) Net inventory $ 70,338 $ 63,864 The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $57.0 million at September 26, 2021 and $46.8 million at March 28, 2021. The remainder of the inventory was valued and accounted for under the FIFO method.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Sep. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amount of goodwill was $72.4 million as of September 26, 2021 and $70.7 million as of March 28, 2021, of which $44.9 million was related to our Health and Nutrition segment, $21.0 million was related to our Water Treatment segment, and $6.5 million was related to our Industrial segment. The increase in goodwill during the six months ended September 26, 2021 represents goodwill recorded in connection with the acquisition of the assets of Southeast Water Systems, LLC as discussed in Note 2. A summary of our intangible assets as of September 26, 2021 and March 28, 2021 is as follows: September 26, 2021 March 28, 2021 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 100,008 $ (29,377) $ 70,631 $ 99,588 $ (26,522) $ 73,066 Trademarks and trade names 6,210 (4,505) 1,705 6,210 (4,275) 1,935 Other finite-life intangible assets 3,843 (3,740) 103 3,833 (3,693) 140 Total finite-life intangible assets 110,061 (37,622) 72,439 109,631 (34,490) 75,141 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 111,288 $ (37,622) $ 73,666 $ 110,858 $ (34,490) $ 76,368

Debt

Debt	6 Months Ended
	Sep. 26, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt at September 26, 2021 and March 28, 2021 consisted of the following: September 26, March 28, (In thousands) Senior secured revolving loan $ 84,000 $ 99,000 Less: unamortized debt issuance costs (202) (248) Total debt, net of debt issuance costs 83,798 98,752 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 73,891 $ 88,845

Income Taxes

Income Taxes	6 Months Ended
	Sep. 26, 2021
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes We are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The tax years prior to our fiscal year ended April 1, 2018 are closed to examination by the Internal Revenue Service, and with few exceptions, state and localincome tax jurisdictions. Our effective tax rate was approximately 26% for both the six months ended September 26, 2021 and for the six months ended September 27, 2020. The effective tax rate is impacted by projected levels of annual taxable income, permanent items, and state taxes.

Leases

Leases	6 Months Ended
	Sep. 26, 2021
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases Lease Obligations. As of September 26, 2021, we were obligated under operating lease agreements for certain manufacturing facilities, warehouse space, the land on which some of our facilities sit, vehicles and information technology equipment. Our leases have remaining original lease terms of 1 year to 23 years, some of which include options to extend the lease for up to 10 years. As of September 26, 2021, our operating lease components with initial or remaining terms in excess of one year were classified on the condensed consolidated balance sheet within right of use assets, short-term lease liability and long-term lease liability. Expense for leases less than 12 months was not material for the three and six months ended September 26, 2021 and September 27, 2020. Total lease expense was $0.7 million for both the three months ended September 26, 2021 and September 27, 2020, and was $1.4 million for both the six months ended September 26, 2021 and September 27, 2020. Other information related to our operating leases was as follows: September 26, 2021 March 28, 2021 Lease Term and Discount Rate Weighted average remaining lease term (years) 9.40 9.73 Weighted average discount rate 2.6 % 2.7 % Maturities of lease liabilities as of September 26, 2021 were as follows: (In thousands) Operating Leases Remaining fiscal 2022 $ 866 Fiscal 2023 1,713 Fiscal 2024 1,360 Fiscal 2025 1,305 Fiscal 2026 1,251 Thereafter 6,280 Total $ 12,775 Less: Interest (1,597) Present value of lease liabilities $ 11,178

Share Based Compensation

Share Based Compensation	6 Months Ended
	Sep. 26, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Performance-Based Restricted Stock Units . Our Board of Directors (the “Board”) approved a performance-based equity compensation arrangement for our executive officers during the first quarters of each of fiscal 2022 and fiscal 2021. These performance-based arrangements provide for the grant of performance-based restricted stock units that represent a possible future issuance of restricted shares of our common stock based on a pre-tax income target for the applicable fiscal year. The actual number of restricted shares to be issued to each executive officer is determined when our final financial information becomes available after the applicable fiscal year and will be between zero shares and 88,524 shares in the aggregate for fiscal 2022. The restricted shares issued, if any, will fully vest approximately two years after the last day of the fiscal year on which the performance is based. We are recording the compensation expense for the outstanding performance share units and the converted restricted stock over the life of the awards. The following table represents the restricted stock activity for the six months ended September 26, 2021: Shares Weighted- Unvested at beginning of period 239,120 $ 17.94 Granted 111,618 31.74 Vested (123,002) 17.25 Unvested at end of period 227,736 $ 25.08 We recorded compensation expense related to performance share units and restricted stock of $0.6 million and $1.2 million for the three and six months ended September 26, 2021, respectively. We recorded compensation expense related to performance share units and restricted stock of $0.5 million and $1.0 million for the three and six months ended September 27, 2020, respectively. Substantially all of the compensation expense was recorded in selling, general and administrative expenses in the condensed consolidated statements of income. Restricted Stock Awards .

Share Repurchase Program

Share Repurchase Program	6 Months Ended
	Sep. 26, 2021
Investment Company, Capital Share Transactions, Stock Repurchased [Abstract]
Share Repurchase Program	Share Repurchase Program Our Board has authorized the repurchase of up to 1.6 million shares of our outstanding common stock for cash on the open market or in privately negotiated transactions subject to applicable securities laws and regulations. Upon purchase of the shares, we reduce our common stock for the par value of the shares with the excess applied against additional paid-in capital. During the three months ended September 26, 2021, we repurchased 109,009 shares at an aggregate purchase price of $4.0 million. During the six months ended September 26, 2021, we repurchased 209,963 shares at an aggregate purchase price of $7.4 million. During the three and six months ended September 27, 2020, no shares were repurchased. As of September 26, 2021, 341,543 shares remained available to be repurchased under the share repurchase program.

Segment Information

Segment Information	6 Months Ended
	Sep. 26, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We have three reportable segments: Industrial, Water Treatment, and Health and Nutrition. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the fiscal year ended March 28, 2021 . We evaluate performance based on profit or loss from operations before income taxes not including nonrecurring gains and losses. Reportable segments are defined primarily by product and type of customer. Segments are responsible for the sales, marketing and development of their products and services. Other than our Health and Nutrition segment, the segments do not have separate customer service or purchasing functions. We allocate certain corporate expenses to our operating segments. There are no intersegment sales and no operating segments have been aggregated. No single customer’s revenues amounted to 10% or more of our total revenue. Sales are primarily within the United States and all assets are located within the United States. (In thousands) Industrial Water Health and Nutrition Total Three months ended September 26, 2021: Sales $ 83,168 $ 62,111 $ 37,998 $ 183,277 Gross profit 12,564 17,518 7,205 37,287 Selling, general, and administrative expenses 6,456 7,405 3,818 17,679 Operating income 6,108 10,113 3,387 19,608 Three months ended September 27, 2020: Sales $ 61,171 $ 49,540 $ 37,090 $ 147,801 Gross profit 10,436 14,522 7,839 32,797 Selling, general, and administrative expenses 6,429 5,573 4,219 16,221 Operating income 4,007 8,949 3,620 16,576 Six months ended September 26, 2021: Sales $ 169,018 $ 118,349 $ 77,151 $ 364,518 Gross profit 26,818 33,752 15,691 76,261 Selling, general and administrative expenses 12,697 14,467 7,371 34,535 Operating income 14,121 19,285 8,320 41,726 Six months ended September 27, 2020: Sales $ 132,673 $ 89,254 $ 69,046 $ 290,973 Gross profit 22,893 25,861 15,019 63,773 Selling, general and administrative expenses 12,496 10,866 7,897 31,259 Operating income 10,397 14,995 7,122 32,514 No significant changes to identifiable assets by segment occurred during the six months ended September 26, 2021.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Sep. 26, 2021
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables disaggregate external customer net sales by major revenue stream for the three and six months ended September 26, 2021 and September 27, 2020: Three months ended September 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 13,663 $ 5,242 $ 30,062 $ 48,967 Manufactured, blended or repackaged products (2) 68,150 56,373 7,883 132,406 Other 1,355 496 53 1,904 Total external customer sales $ 83,168 $ 62,111 $ 37,998 $ 183,277 Three months ended September 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 9,313 $ 4,358 $ 28,953 $ 42,624 Manufactured, blended or repackaged products (2) 51,155 44,838 8,133 104,126 Other 703 344 4 1,051 Total external customer sales $ 61,171 $ 49,540 $ 37,090 $ 147,801 Six months ended September 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 25,506 $ 9,795 $ 61,004 $ 96,305 Manufactured, blended or repackaged products (2) 140,716 107,601 15,934 264,251 Other 2,796 953 213 3,962 Total external customer sales $ 169,018 $ 118,349 $ 77,151 $ 364,518 Six months ended September 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 18,137 $ 8,233 $ 54,898 $ 81,268 Manufactured, blended or repackaged products (2) 112,997 80,344 14,231 207,572 Other 1,539 677 (83) 2,133 Total external customer sales $ 132,673 $ 89,254 $ 69,046 $ 290,973 (1) For our Industrial and Water Treatment segments, this line includes our bulk products that we do not modify in any way, but receive, store, and ship from our facilities, or direct ship to our customers in large quantities. For our Health and Nutrition segment, this line includes our non-manufactured distributed specialty products, which may be sold out of one of our facilities or direct shipped to our customers. (2) For our Industrial and Water Treatment segments, this line includes our non-bulk specialty products that we either manufacture, blend, repackage, resell in their original form, or direct ship to our customers in smaller quantities, and services we provide for our customers. For our Health and Nutrition segment, this line includes products manufactured, processed or repackaged in our facility and/or with our equipment.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Sep. 26, 2021
Earnings Per Share [Abstract]
Summary of basic and diluted EPS	Basic and diluted EPS were calculated using the following: Three Months Ended Six Months Ended September 26, 2021 September 27, 2020 September 26, 2021 September 27, 2020 Weighted-average common shares outstanding—basic 20,986,542 21,055,782 21,010,422 21,053,022 Dilutive impact of performance units and restricted stock 153,545 189,980 158,387 215,540 Weighted-average common shares outstanding—diluted 21,140,087 21,245,762 21,168,809 21,268,562

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 26, 2021
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	he following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of September 26, 2021 and March 28, 2021. 0 (In thousands) September 26, 2021 March 28, 2021 Assets Deferred compensation plan assets Level 1 $ 7,364 $ 5,946

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 26, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories at September 26, 2021 and March 28, 2021 consisted of the following: September 26, March 28, (In thousands) Inventory (FIFO basis) $ 80,682 $ 69,438 LIFO reserve (10,344) (5,574) Net inventory $ 70,338 $ 63,864

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Sep. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwill	A summary of our intangible assets as of September 26, 2021 and March 28, 2021 is as follows: September 26, 2021 March 28, 2021 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 100,008 $ (29,377) $ 70,631 $ 99,588 $ (26,522) $ 73,066 Trademarks and trade names 6,210 (4,505) 1,705 6,210 (4,275) 1,935 Other finite-life intangible assets 3,843 (3,740) 103 3,833 (3,693) 140 Total finite-life intangible assets 110,061 (37,622) 72,439 109,631 (34,490) 75,141 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 111,288 $ (37,622) $ 73,666 $ 110,858 $ (34,490) $ 76,368

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 26, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt at September 26, 2021 and March 28, 2021 consisted of the following: September 26, March 28, (In thousands) Senior secured revolving loan $ 84,000 $ 99,000 Less: unamortized debt issuance costs (202) (248) Total debt, net of debt issuance costs 83,798 98,752 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 73,891 $ 88,845

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 26, 2021
Leases [Abstract]
Other information related to our operating leases [Table Text Block]	Other information related to our operating leases was as follows: September 26, 2021 March 28, 2021 Lease Term and Discount Rate Weighted average remaining lease term (years) 9.40 9.73 Weighted average discount rate 2.6 % 2.7 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities as of September 26, 2021 were as follows: (In thousands) Operating Leases Remaining fiscal 2022 $ 866 Fiscal 2023 1,713 Fiscal 2024 1,360 Fiscal 2025 1,305 Fiscal 2026 1,251 Thereafter 6,280 Total $ 12,775 Less: Interest (1,597) Present value of lease liabilities $ 11,178

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Sep. 26, 2021
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of performance-based restricted stock units	The following table represents the restricted stock activity for the six months ended September 26, 2021: Shares Weighted- Unvested at beginning of period 239,120 $ 17.94 Granted 111,618 31.74 Vested (123,002) 17.25 Unvested at end of period 227,736 $ 25.08

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Sep. 26, 2021
Segment Reporting [Abstract]
Summary of Segment Information	(In thousands) Industrial Water Health and Nutrition Total Three months ended September 26, 2021: Sales $ 83,168 $ 62,111 $ 37,998 $ 183,277 Gross profit 12,564 17,518 7,205 37,287 Selling, general, and administrative expenses 6,456 7,405 3,818 17,679 Operating income 6,108 10,113 3,387 19,608 Three months ended September 27, 2020: Sales $ 61,171 $ 49,540 $ 37,090 $ 147,801 Gross profit 10,436 14,522 7,839 32,797 Selling, general, and administrative expenses 6,429 5,573 4,219 16,221 Operating income 4,007 8,949 3,620 16,576 Six months ended September 26, 2021: Sales $ 169,018 $ 118,349 $ 77,151 $ 364,518 Gross profit 26,818 33,752 15,691 76,261 Selling, general and administrative expenses 12,697 14,467 7,371 34,535 Operating income 14,121 19,285 8,320 41,726 Six months ended September 27, 2020: Sales $ 132,673 $ 89,254 $ 69,046 $ 290,973 Gross profit 22,893 25,861 15,019 63,773 Selling, general and administrative expenses 12,496 10,866 7,897 31,259 Operating income 10,397 14,995 7,122 32,514

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	Sep. 20, 2021	Mar. 28, 2021	Dec. 27, 2020	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross					$ 1,200	$ 25,000
Southeast Water Systems LLC
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 1,200
Business Combination, Consideration Transferred, Liabilities Incurred	1,000
Business Combination, Consideration Transferred	2,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	100
Goodwill, Acquired During Period	$ 1,700
C&L Aqua Professionals, Inc. and LC Blending, Inc.
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 16,000
Property
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross			$ 10,000
American Development Corporation of Tennessee, Inc.
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 25,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 183,277	$ 147,801	$ 364,518	$ 290,973
Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	48,967	42,624	96,305	81,268
Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	132,406	104,126	264,251	207,572
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,904	1,051	3,962	2,133
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	83,168	61,171	169,018	132,673
Industrial [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	13,663	9,313	25,506	18,137
Industrial [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	68,150	51,155	140,716	112,997
Industrial [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,355	703	2,796	1,539
Water Treatment [Member]
Disaggregation of Revenue [Line Items]
Revenue	62,111	49,540	118,349	89,254
Water Treatment [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,242	4,358	9,795	8,233
Water Treatment [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	56,373	44,838	107,601	80,344
Water Treatment [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	496	344	953	677
Health and Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenue	37,998	37,090	77,151	69,046
Health and Nutrition [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	30,062	28,953	61,004	54,898
Health and Nutrition [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,883	8,133	15,934	14,231
Health and Nutrition [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 53	$ 4	$ 213	$ (83)

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Summary of basic and diluted EPS
Weighted-average common shares outstanding—basic	20,986,542	21,055,782	21,010,422	21,053,022
Dilutive impact of performance units and restricted stock	153,545	189,980	158,387	215,540
Weighted-average common shares outstanding—diluted	21,140,087	21,245,762	21,168,809	21,268,562

Earnings per Share (Details Tex

Earnings per Share (Details Textual) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Earnings Per Share [Abstract]
Shares or stock options excluded from the calculation of diluted EPS	0	0	0	0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 7,364	$ 5,946

Assets Held for Sale (Details)

Assets Held for Sale (Details) $ in Millions	Mar. 28, 2021USD ($)
Industrial [Member]
Assets Held-for-sale, Long Lived, Fair Value Disclosure	$ 0.7
Water Treatment [Member]
Assets Held-for-sale, Long Lived, Fair Value Disclosure	$ 0.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Summary of Inventories
Inventory (FIFO basis)	$ 80,682	$ 69,438
LIFO reserve	(10,344)	(5,574)
Net inventory	70,338	63,864
LIFO Inventory Amount	$ 57,000	$ 46,800

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Goodwill [Line Items]
Goodwill	$ 72,417	$ 70,720
Health and Nutrition [Member]
Goodwill [Line Items]
Goodwill	44,900
Water Treatment [Member]
Goodwill [Line Items]
Goodwill	21,000
Industrial [Member]
Goodwill [Line Items]
Goodwill	$ 6,500

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	$ 110,061	$ 109,631
Finite-life intangible assets, Accumulated Amortization	(37,622)	(34,490)
Total finite-life intangible assets, Net	72,439	75,141
Indefinite-life intangible assets	1,227	1,227
Total Intangible Assets, Gross	111,288	110,858
Total intangible assets, net	73,666	76,368
Customer Relationships [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	100,008	99,588
Finite-life intangible assets, Accumulated Amortization	(29,377)	(26,522)
Total finite-life intangible assets, Net	70,631	73,066
Trademarks [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	6,210	6,210
Finite-life intangible assets, Accumulated Amortization	(4,505)	(4,275)
Total finite-life intangible assets, Net	1,705	1,935
Other Intangible Assets
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	3,843	3,833
Finite-life intangible assets, Accumulated Amortization	(3,740)	(3,693)
Total finite-life intangible assets, Net	$ 103	$ 140

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 26, 2021	Mar. 28, 2021
Debt Disclosure [Abstract]
Senior secured revolving loan	$ 84,000	$ 99,000
Less: unamortized debt issuance costs	(202)	(248)
Total debt, net of debt issuance costs	83,798	98,752
Less: current portion of long-term debt	(9,907)	(9,907)
Total long-term debt	$ 73,891	$ 88,845

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	26.00%	26.00%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020	Mar. 28, 2021
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Option to Extend			10 years
Short-term Lease, Expense	$ 0	$ 0	$ 0	$ 0
Operating Lease, Expense	$ 700	$ 700	$ 1,400	$ 1,400
Operating Lease, Weighted Average Remaining Lease Term	9 years 4 months 24 days		9 years 4 months 24 days		9 years 8 months 23 days
Operating Lease, Weighted Average Discount Rate, Percent	2.60%		2.60%		2.70%
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	1 year		1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	23 years		23 years

Leases maturities (Details)

Leases maturities (Details) $ in Thousands	Sep. 26, 2021USD ($)
Leases [Abstract]
Remaining fiscal 2022	$ 866
Fiscal 2023	1,713
Fiscal 2024	1,360
Fiscal 2025	1,305
Fiscal 2026	1,251
Thereafter	6,280
Total	12,775
Less: Interest	(1,597)
Present value of lease liabilities	$ 11,178

Share Based Compensation (Detai

Share Based Compensation (Details)	6 Months Ended
	Sep. 26, 2021$ / sharesshares
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Beginning Balance, Weighted average grant date fair value (usd per share) | $ / shares	$ 17.94
Granted, Weighted average grant date fair value (usd per share) | $ / shares	31.74
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	17.25
Ending Balance, Weighted average grant date fair value (usd per share) | $ / shares	$ 25.08
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (Shares) | shares	239,120
Granted (Shares) | shares	111,618
Vested (Shares) | shares	(123,002)
Unvested at end of period (Shares) | shares	227,736
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Ending Balance, Weighted average grant date fair value (usd per share) | $ / shares	$ 32.31
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at end of period (Shares) | shares	9,282

Share Based Compensation (Det_2

Share Based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	88,524		88,524
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	0		0
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 600	$ 500	$ 1,200	$ 1,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 100	$ 100	$ 200	$ 200

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021
Investment Company, Capital Share Transactions, Stock Repurchased [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1,600,000		1,600,000
Stock Repurchased During Period, Shares	109,009	0	209,963
Stock Repurchased During Period, Value	$ 4		$ 7.4
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	341,543		341,543

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Segment Reporting Information [Line Items]
Sales	$ 183,277	$ 147,801	$ 364,518	$ 290,973
Gross profit	37,287	32,797	76,261	63,773
Selling, general, and administrative expenses	17,679	16,221	34,535	31,259
Operating income	19,608	16,576	41,726	32,514
Industrial [Member]
Segment Reporting Information [Line Items]
Sales	83,168	61,171	169,018	132,673
Gross profit	12,564	10,436	26,818	22,893
Selling, general, and administrative expenses	6,456	6,429	12,697	12,496
Operating income	6,108	4,007	14,121	10,397
Water Treatment [Member]
Segment Reporting Information [Line Items]
Sales	62,111	49,540	118,349	89,254
Gross profit	17,518	14,522	33,752	25,861
Selling, general, and administrative expenses	7,405	5,573	14,467	10,866
Operating income	10,113	8,949	19,285	14,995
Health and Nutrition [Member]
Segment Reporting Information [Line Items]
Sales	37,998	37,090	77,151	69,046
Gross profit	7,205	7,839	15,691	15,019
Selling, general, and administrative expenses	3,818	4,219	7,371	7,897
Operating income	$ 3,387	$ 3,620	$ 8,320	$ 7,122

Segment Information (Details Te

Segment Information (Details Textual)	6 Months Ended
	Sep. 26, 2021Segment
Segment Reporting Information [Line Items]
Number of reportable segments (segments)	3
Intersegment sales	no
Number of operating segments aggregated (segments)	0
Number of customer representing 10 percent or more of revenue (customers)	No
Quarterly Financial Information, Segment Reporting, Segment Assets, Material Change	No