Hawkins (HWKN) 10-Q 2 Feb 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 26, 2021	Jan. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 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		21,116,457
Entity Central Index Key	0000046250
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--04-03

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 28, 2021
Assets, Current [Abstract]
Cash and cash equivalents	$ 23,438	$ 2,998
Trade accounts receivables, net	102,020	90,603
Inventories	76,242	63,864
Income taxes receivable	811	175
Prepaid expenses and other current assets	6,967	5,367
Total current assets	209,478	163,007
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT:	294,264	300,404
Less accumulated depreciation	146,790	155,792
Net property, plant, and equipment	147,474	144,612
Other Assets [Abstract]
Right-of-use assets	10,905	11,630
Goodwill	72,917	70,720
Intangible assets, net of accumulated amortization	72,575	76,368
Other	7,795	6,213
Total other assets	164,192	164,931
Total assets	521,144	472,550
Liabilities, Current [Abstract]
Accounts payable — trade	44,021	37,313
Accrued payroll and employee benefits	15,848	18,048
Current portion of long-term debt	9,907	9,907
Short-term lease liability	1,673	1,587
Container deposits	1,543	1,452
Other current liabilities	2,543	2,155
Total current liabilities	75,535	70,462
LONG-TERM DEBT, LESS CURRENT PORTION	105,915	88,845
LONG-TERM LEASE LIABILITY	9,397	10,231
PENSION WITHDRAWAL LIABILITY	4,366	4,631
DEFERRED INCOME TAXES	24,445	24,445
DEFERRED COMPENSATION LIABILITY	8,251	7,322
OTHER LONG-TERM LIABILITIES	1,541	1,368
Total liabilities	229,450	207,304
COMMITMENTS AND CONTINGENCIES	0	0
SHAREHOLDERS’ EQUITY:
Common stock; authorized: 60,000,000 shares of $0.01 par value; 20,858,385 and 20,969,746 shares issued and outstanding as of December 26, 2021 and March 28, 2021, respectively	209	210
Additional paid-in capital	44,723	51,138
Retained earnings	246,762	213,898
Total shareholders’ equity	291,694	265,246
Total liabilities and shareholders’ equity	$ 521,144	$ 472,550

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Dec. 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	20,858,385	20,969,746
Common Stock, Shares, Outstanding	20,858,385	20,969,746

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Income Statement [Abstract]
Sales	$ 187,050	$ 142,927	$ 551,568	$ 433,900
Cost of sales	(153,110)	(114,688)	(441,367)	(341,888)
Gross profit	33,940	28,239	110,201	92,012
Selling, general and administrative expenses	(19,681)	(17,750)	(54,216)	(49,009)
Operating income	14,259	10,489	55,985	43,003
Interest expense, net	(317)	(382)	(995)	(1,101)
Other income	132	478	548	1,282
Income before income taxes	14,074	10,585	55,538	43,184
Income tax expense	(3,870)	(2,664)	(14,573)	(11,285)
Net income	$ 10,204	$ 7,921	$ 40,965	$ 31,899
Weighted average number of shares outstanding - basic	20,885,232	21,013,836	20,968,692	21,043,042
Weighted average number of shares outstanding - diluted	21,054,603	21,223,310	21,142,515	21,278,744
Basic earnings per share
Basic earnings per share	$ 0.49	$ 0.38	$ 1.95	$ 1.52
Diluted earnings per share
Diluted earnings per share	0.48	0.37	1.94	1.50
Cash dividends declared per common share	$ 0.13000	$ 0.11625	$ 0.38250	$ 0.34875

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Other comprehensive income (loss), net of tax:
Net income	$ 10,204	$ 7,921	$ 40,965	$ 31,899
Unrealized gain on interest rate swap	0	50	0	79
Total comprehensive income	$ 10,204	$ 7,971	$ 40,965	$ 31,978

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 income (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		21,031,670
Stockholders' equity, ending balance at Jun. 28, 2020	243,429	$ 211	51,051	192,256	(89)
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 (shares)	(166,088)
Shares repurchased	$ (4,140)
Other comprehensive income (loss), net of tax	79
Net income	31,899
Shares outstanding, ending balance at Dec. 27, 2020		20,924,318
Stockholders' equity, ending balance at Dec. 27, 2020	256,915	$ 209	49,290	207,416	0
Shares outstanding, beginning balance at Jun. 28, 2020		21,031,670
Stockholders' equity, beginning balance at Jun. 28, 2020	243,429	$ 211	51,051	192,256	(89)
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
Other comprehensive income (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		21,090,406
Stockholders' equity, ending balance at Sep. 27, 2020	254,637	$ 211	52,510	201,966	(50)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,471)	0	0	(2,471)	0
Share-based compensation expense	$ 918	$ 0	918	0	0
Shares repurchased (shares)	(166,088)	(166,088)
Shares repurchased	$ (4,140)	$ (2)	(4,138)	0	0
Other comprehensive income (loss), net of tax	50	0	0	0	50
Net income	7,921	$ 0	0	7,921	0
Shares outstanding, ending balance at Dec. 27, 2020		20,924,318
Stockholders' equity, ending balance at Dec. 27, 2020	256,915	$ 209	49,290	207,416	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]
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)	(240,501)
Shares repurchased	$ (8,545)
Other comprehensive income (loss), net of tax	0
Net income	40,965
Shares outstanding, ending balance at Dec. 26, 2021		20,858,385
Stockholders' equity, ending balance at Dec. 26, 2021	291,694	$ 209	44,723	246,762	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)
Shares repurchased	(4,020)	$ (1)	(4,019)	0	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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared and paid	(2,745)	0	0	(2,745)	0
Share-based compensation expense	$ 1,046	$ 0	1,046	0	0
Shares repurchased (shares)	(30,538)	(30,538)
Shares repurchased	$ (1,124)	$ 0	(1,124)	0	0
Other comprehensive income (loss), net of tax	0
Net income	10,204	$ 0	0	10,204	0
Shares outstanding, ending balance at Dec. 26, 2021		20,858,385
Stockholders' equity, ending balance at Dec. 26, 2021	$ 291,694	$ 209	$ 44,723	$ 246,762	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 40,965	$ 31,899
Changes in operating accounts providing (using) cash:
Depreciation and amortization	17,859	16,735
Operating leases	1,416	1,419
Gain on deferred compensation assets	(548)	(1,282)
Stock compensation expense	2,707	2,303
Other	379	170
Trade receivables	(10,847)	(8,121)
Inventories	(12,311)	(9,431)
Accounts payable	6,094	(3,569)
Accrued liabilities	(1,589)	1,160
Lease liabilities	(1,431)	(1,363)
Income taxes	(635)	(1,006)
Other	(3,350)	(2,308)
Net cash provided by operating activities	38,709	26,606
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(15,700)	(13,200)
Acquisitions	(2,575)	(35,017)
Other	230	154
Net cash used in investing activities	(18,045)	(48,063)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends declared and paid	(8,101)	(7,430)
New shares issued	889	773
Payroll taxes paid in exchange for shares withheld	(1,467)	(54)
Shares repurchased	(8,545)	(4,140)
Payments on revolving loan	(15,000)	(24,000)
Proceeds from revolving loan borrowings	32,000	60,000
Net cash (used in) provided by financing activities	(224)	25,149
NET INCREASE IN CASH AND CASH EQUIVALENTS	20,440	3,692
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	2,998	4,277
CASH AND CASH EQUIVALENTS, END OF PERIOD	23,438	7,969
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for income taxes	15,208	12,345
Cash paid for interest	746	893
Noncash investing activities - capital expenditures in accounts payable	$ 1,018	$ 790

Accounting Policies

Accounting Policies	9 Months Ended
	Dec. 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 nine months ended December 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	9 Months Ended
	Dec. 26, 2021
Business Combinations [Abstract]
Business Combination Disclosure	Acquisitions Acquisition of Water and Waste Specialties, Inc.: On October 29, 2021, we acquired substantially all the assets of Water and Waste Specialties, Inc., under the terms of a purchase agreement with Water and Waste Specialties and its shareholders. We paid $1.4 million at closing for the acquisition. Water and Waste Specialties was a water treatment chemical distribution company operating primarily in Alabama. 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 Water and Waste Specialties 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 $1.4 million purchase price, we allocated $0.5 million to finite-lived intangible assets, primarily customer relationships to be amortized over 11 years, and $0.4 million to property, plant and equipment. The residual amount of $0.5 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. 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, which includes a contingent consideration liability of $1.0 million, 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	9 Months Ended
	Dec. 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 nine months ended December 26, 2021 and December 27, 2020: Three months ended December 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 15,659 $ 4,689 $ 29,082 $ 49,430 Manufactured, blended or repackaged products (2) 82,905 44,241 7,750 134,896 Other 1,990 826 (92) 2,724 Total external customer sales $ 100,554 $ 49,756 $ 36,740 $ 187,050 Three months ended December 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 10,174 $ 3,896 $ 27,695 $ 41,765 Manufactured, blended or repackaged products (2) 53,343 35,129 11,577 100,049 Other 839 273 1 1,113 Total external customer sales $ 64,356 $ 39,298 $ 39,273 $ 142,927 Nine months ended December 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 41,165 $ 14,484 $ 90,086 $ 145,735 Manufactured, blended or repackaged products (2) 223,621 151,842 23,684 399,147 Other 4,786 1,779 121 6,686 Total external customer sales $ 269,572 $ 168,105 $ 113,891 $ 551,568 Nine months ended December 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 28,311 $ 12,129 $ 82,593 $ 123,033 Manufactured, blended or repackaged products (2) 166,340 115,473 25,808 307,621 Other 2,378 950 (82) 3,246 Total external customer sales $ 197,029 $ 128,552 $ 108,319 $ 433,900 (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	9 Months Ended
	Dec. 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 Nine Months Ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Weighted-average common shares outstanding—basic 20,885,232 21,013,836 20,968,692 21,043,042 Dilutive impact of performance units and restricted stock 169,371 209,474 173,823 235,702 Weighted-average common shares outstanding—diluted 21,054,603 21,223,310 21,142,515 21,278,744 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	9 Months Ended
	Dec. 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 December 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. Our financial liability that is measured at fair value on a recurring basis consists of a contingent earnout liability in connection with our acquisition of Southeast Water Systems LLC. The contingent earnout liability was classified as other long-term liabilities on our balance sheet, with the portion of the contingent earnout liability expected to be paid within 12 months classified as current liabilities on our balance sheet. The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of December 26, 2021 and March 28, 2021. 0 (In thousands) December 26, 2021 March 28, 2021 Assets Deferred compensation plan assets Level 1 $ 7,496 $ 5,946 Liabilities Contingent consideration liability Level 3 $ 970 $ —

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Dec. 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 former 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. These amounts were recorded as assets held for sale within prepaid expenses and other current assets on our balance sheet.

Inventories

Inventories	9 Months Ended
	Dec. 26, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at December 26, 2021 and March 28, 2021 consisted of the following: December 26, March 28, (In thousands) Inventory (FIFO basis) $ 89,442 $ 69,438 LIFO reserve (13,200) (5,574) Net inventory $ 76,242 $ 63,864 The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $64.3 million at December 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	9 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amount of goodwill was $72.9 million as of December 26, 2021 and $70.7 million as of March 28, 2021, of which $44.9 million was related to our Health and Nutrition segment, $21.5 million was related to our Water Treatment segment, and $6.5 million was related to our Industrial segment. The increase in goodwill during the nine months ended December 26, 2021 represents goodwill recorded in connection with the acquisitions of the assets of Southeast Water Systems and Water and Waste Specialties as discussed in Note 2. A summary of our intangible assets as of December 26, 2021 and March 28, 2021 is as follows: December 26, 2021 March 28, 2021 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 100,484 $ (30,823) $ 69,661 $ 99,588 $ (26,522) $ 73,066 Trademarks and trade names 6,210 (4,606) 1,604 6,210 (4,275) 1,935 Other finite-life intangible assets 3,849 (3,766) 83 3,833 (3,693) 140 Total finite-life intangible assets 110,543 (39,195) 71,348 109,631 (34,490) 75,141 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 111,770 $ (39,195) $ 72,575 $ 110,858 $ (34,490) $ 76,368

Debt

Debt	9 Months Ended
	Dec. 26, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt at December 26, 2021 and March 28, 2021 consisted of the following: December 26, March 28, (In thousands) Senior secured revolving loan $ 116,000 $ 99,000 Less: unamortized debt issuance costs (178) (248) Total debt, net of debt issuance costs 115,822 98,752 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 105,915 $ 88,845 We were in compliance with all covenants of the Credit Agreement as of December 26, 2021.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 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 nine months ended December 26, 2021 and for the nine months ended December 27, 2020. The effective tax rate is impacted by projected levels of annual taxable income, permanent items, and state taxes.

Leases

Leases	9 Months Ended
	Dec. 26, 2021
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases Lease Obligations. As of December 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 December 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 nine months ended December 26, 2021 and December 27, 2020. Total lease expense was $0.7 million for both the three months ended December 26, 2021 and December 27, 2020, and was $2.1 million for both the nine months ended December 26, 2021 and December 27, 2020. Other information related to our operating leases was as follows: December 26, 2021 March 28, 2021 Lease Term and Discount Rate Weighted average remaining lease term (years) 9.16 9.73 Weighted average discount rate 2.6 % 2.7 % Maturities of lease liabilities as of December 26, 2021 were as follows: (In thousands) Operating Leases Remaining fiscal 2022 $ 443 Fiscal 2023 1,764 Fiscal 2024 1,411 Fiscal 2025 1,356 Fiscal 2026 1,297 Thereafter 6,335 Total $ 12,606 Less: Interest (1,536) Present value of lease liabilities $ 11,070

Share Based Compensation

Share Based Compensation	9 Months Ended
	Dec. 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 nine months ended December 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 $0.8 million and $2.0 million for the three and nine months ended December 26, 2021, respectively. We recorded compensation expense related to performance share units and restricted stock of $0.7 million and $1.6 million for the three and nine months ended December 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	9 Months Ended
	Dec. 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 December 26, 2021, we repurchased 30,538 shares at an aggregate purchase price of $1.1 million. During the nine months ended December 26, 2021, we repurchased 240,501 shares at an aggregate purchase price of $8.5 million. During the three and nine months ended December 27, 2020, we repurchased 166,088 shares at an aggregate purchase price of $4.1 million. As of December 26, 2021, 311,005 shares remained available to be repurchased under the share repurchase program.

Segment Information

Segment Information	9 Months Ended
	Dec. 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. 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 December 26, 2021: Sales $ 100,554 $ 49,756 $ 36,740 $ 187,050 Gross profit 15,303 11,103 7,534 33,940 Selling, general, and administrative expenses 7,367 8,254 4,060 19,681 Operating income 7,936 2,849 3,474 14,259 Three months ended December 27, 2020: Sales $ 64,356 $ 39,298 $ 39,273 $ 142,927 Gross profit 9,207 10,027 9,005 28,239 Selling, general, and administrative expenses 6,978 6,788 3,984 17,750 Operating income 2,229 3,239 5,021 10,489 Nine months ended December 26, 2021: Sales $ 269,572 $ 168,105 $ 113,891 $ 551,568 Gross profit 42,121 44,855 23,225 110,201 Selling, general and administrative expenses 20,064 22,721 11,431 54,216 Operating income 22,057 22,134 11,794 55,985 Nine months ended December 27, 2020: Sales $ 197,029 $ 128,552 $ 108,319 $ 433,900 Gross profit 32,100 35,888 24,024 92,012 Selling, general and administrative expenses 19,474 17,654 11,881 49,009 Operating income 12,626 18,234 12,143 43,003 No significant changes to identifiable assets by segment occurred during the nine months ended December 26, 2021.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 26, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On December 30, 2021, we acquired substantially all the assets of NAPCO Chemical Company, Inc. and its affiliates ("NAPCO") for $18.5 million, subject to a working capital adjustment, under the terms of an asset purchase agreement among us, NAPCO and certain other parties thereto. NAPCO manufactures and distributes water treatment chemicals from three locations in Texas. The results of operations and the assets, including the goodwill associated with this acquisition, will be included as part of our Water Treatment segment from the date of acquisition forward. The purchase accounting for this acquisition has not yet been completed.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Dec. 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 nine months ended December 26, 2021 and December 27, 2020: Three months ended December 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 15,659 $ 4,689 $ 29,082 $ 49,430 Manufactured, blended or repackaged products (2) 82,905 44,241 7,750 134,896 Other 1,990 826 (92) 2,724 Total external customer sales $ 100,554 $ 49,756 $ 36,740 $ 187,050 Three months ended December 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 10,174 $ 3,896 $ 27,695 $ 41,765 Manufactured, blended or repackaged products (2) 53,343 35,129 11,577 100,049 Other 839 273 1 1,113 Total external customer sales $ 64,356 $ 39,298 $ 39,273 $ 142,927 Nine months ended December 26, 2021 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 41,165 $ 14,484 $ 90,086 $ 145,735 Manufactured, blended or repackaged products (2) 223,621 151,842 23,684 399,147 Other 4,786 1,779 121 6,686 Total external customer sales $ 269,572 $ 168,105 $ 113,891 $ 551,568 Nine months ended December 27, 2020 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 28,311 $ 12,129 $ 82,593 $ 123,033 Manufactured, blended or repackaged products (2) 166,340 115,473 25,808 307,621 Other 2,378 950 (82) 3,246 Total external customer sales $ 197,029 $ 128,552 $ 108,319 $ 433,900 (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)	9 Months Ended
	Dec. 26, 2021
Earnings Per Share [Abstract]
Summary of basic and diluted EPS	Basic and diluted EPS were calculated using the following: Three Months Ended Nine Months Ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Weighted-average common shares outstanding—basic 20,885,232 21,013,836 20,968,692 21,043,042 Dilutive impact of performance units and restricted stock 169,371 209,474 173,823 235,702 Weighted-average common shares outstanding—diluted 21,054,603 21,223,310 21,142,515 21,278,744

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 26, 2021
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of December 26, 2021 and March 28, 2021. 0 (In thousands) December 26, 2021 March 28, 2021 Assets Deferred compensation plan assets Level 1 $ 7,496 $ 5,946 Liabilities Contingent consideration liability Level 3 $ 970 $ —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 26, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories at December 26, 2021 and March 28, 2021 consisted of the following: December 26, March 28, (In thousands) Inventory (FIFO basis) $ 89,442 $ 69,438 LIFO reserve (13,200) (5,574) Net inventory $ 76,242 $ 63,864

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwill	A summary of our intangible assets as of December 26, 2021 and March 28, 2021 is as follows: December 26, 2021 March 28, 2021 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 100,484 $ (30,823) $ 69,661 $ 99,588 $ (26,522) $ 73,066 Trademarks and trade names 6,210 (4,606) 1,604 6,210 (4,275) 1,935 Other finite-life intangible assets 3,849 (3,766) 83 3,833 (3,693) 140 Total finite-life intangible assets 110,543 (39,195) 71,348 109,631 (34,490) 75,141 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 111,770 $ (39,195) $ 72,575 $ 110,858 $ (34,490) $ 76,368

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 26, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt at December 26, 2021 and March 28, 2021 consisted of the following: December 26, March 28, (In thousands) Senior secured revolving loan $ 116,000 $ 99,000 Less: unamortized debt issuance costs (178) (248) Total debt, net of debt issuance costs 115,822 98,752 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 105,915 $ 88,845

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 26, 2021
Leases [Abstract]
Other information related to our operating leases [Table Text Block]	Other information related to our operating leases was as follows: December 26, 2021 March 28, 2021 Lease Term and Discount Rate Weighted average remaining lease term (years) 9.16 9.73 Weighted average discount rate 2.6 % 2.7 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities as of December 26, 2021 were as follows: (In thousands) Operating Leases Remaining fiscal 2022 $ 443 Fiscal 2023 1,764 Fiscal 2024 1,411 Fiscal 2025 1,356 Fiscal 2026 1,297 Thereafter 6,335 Total $ 12,606 Less: Interest (1,536) Present value of lease liabilities $ 11,070

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Dec. 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 nine months ended December 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)	9 Months Ended
	Dec. 26, 2021
Segment Reporting [Abstract]
Summary of Segment Information	(In thousands) Industrial Water Health and Nutrition Total Three months ended December 26, 2021: Sales $ 100,554 $ 49,756 $ 36,740 $ 187,050 Gross profit 15,303 11,103 7,534 33,940 Selling, general, and administrative expenses 7,367 8,254 4,060 19,681 Operating income 7,936 2,849 3,474 14,259 Three months ended December 27, 2020: Sales $ 64,356 $ 39,298 $ 39,273 $ 142,927 Gross profit 9,207 10,027 9,005 28,239 Selling, general, and administrative expenses 6,978 6,788 3,984 17,750 Operating income 2,229 3,239 5,021 10,489 Nine months ended December 26, 2021: Sales $ 269,572 $ 168,105 $ 113,891 $ 551,568 Gross profit 42,121 44,855 23,225 110,201 Selling, general and administrative expenses 20,064 22,721 11,431 54,216 Operating income 22,057 22,134 11,794 55,985 Nine months ended December 27, 2020: Sales $ 197,029 $ 128,552 $ 108,319 $ 433,900 Gross profit 32,100 35,888 24,024 92,012 Selling, general and administrative expenses 19,474 17,654 11,881 49,009 Operating income 12,626 18,234 12,143 43,003

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	Oct. 29, 2021	Sep. 20, 2021	Mar. 28, 2021	Dec. 27, 2020	Sep. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross						$ 2,575	$ 35,017
Water and Waste Specialties, Inc.
Asset Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 1,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	400
Goodwill, Acquired During Period	$ 500
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		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 187,050	$ 142,927	$ 551,568	$ 433,900
Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	49,430	41,765	145,735	123,033
Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	134,896	100,049	399,147	307,621
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,724	1,113	6,686	3,246
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	100,554	64,356	269,572	197,029
Industrial [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	15,659	10,174	41,165	28,311
Industrial [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	82,905	53,343	223,621	166,340
Industrial [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,990	839	4,786	2,378
Water Treatment [Member]
Disaggregation of Revenue [Line Items]
Revenue	49,756	39,298	168,105	128,552
Water Treatment [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,689	3,896	14,484	12,129
Water Treatment [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	44,241	35,129	151,842	115,473
Water Treatment [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	826	273	1,779	950
Health and Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenue	36,740	39,273	113,891	108,319
Health and Nutrition [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	29,082	27,695	90,086	82,593
Health and Nutrition [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,750	11,577	23,684	25,808
Health and Nutrition [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ (92)	$ 1	$ 121	$ (82)

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Summary of basic and diluted EPS
Weighted-average common shares outstanding—basic	20,885,232	21,013,836	20,968,692	21,043,042
Dilutive impact of performance units and restricted stock	169,371	209,474	173,823	235,702
Weighted-average common shares outstanding—diluted	21,054,603	21,223,310	21,142,515	21,278,744

Earnings per Share (Details Tex

Earnings per Share (Details Textual) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 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	Dec. 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	$ 7,496	$ 5,946
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 970	$ 0

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	Dec. 26, 2021	Mar. 28, 2021
Summary of Inventories
Inventory (FIFO basis)	$ 89,442	$ 69,438
LIFO reserve	(13,200)	(5,574)
Net inventory	76,242	63,864
LIFO Inventory Amount	$ 64,300	$ 46,800

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 28, 2021
Goodwill [Line Items]
Goodwill	$ 72,917	$ 70,720
Health and Nutrition [Member]
Goodwill [Line Items]
Goodwill	44,900
Water Treatment [Member]
Goodwill [Line Items]
Goodwill	21,500
Industrial [Member]
Goodwill [Line Items]
Goodwill	$ 6,500

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 28, 2021
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	$ 110,543	$ 109,631
Finite-life intangible assets, Accumulated Amortization	(39,195)	(34,490)
Total finite-life intangible assets, Net	71,348	75,141
Indefinite-life intangible assets	1,227	1,227
Total Intangible Assets, Gross	111,770	110,858
Total intangible assets, net	72,575	76,368
Customer Relationships [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	100,484	99,588
Finite-life intangible assets, Accumulated Amortization	(30,823)	(26,522)
Total finite-life intangible assets, Net	69,661	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	(4,606)	(4,275)
Total finite-life intangible assets, Net	1,604	1,935
Other Intangible Assets
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	3,849	3,833
Finite-life intangible assets, Accumulated Amortization	(3,766)	(3,693)
Total finite-life intangible assets, Net	$ 83	$ 140

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 28, 2021
Debt Disclosure [Abstract]
Senior secured revolving loan	$ 116,000	$ 99,000
Less: unamortized debt issuance costs	(178)	(248)
Total debt, net of debt issuance costs	115,822	98,752
Less: current portion of long-term debt	(9,907)	(9,907)
Total long-term debt	$ 105,915	$ 88,845

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Dec. 26, 2021	Dec. 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		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 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	$ 2,100	$ 2,100
Operating Lease, Weighted Average Remaining Lease Term	9 years 1 month 28 days		9 years 1 month 28 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	Dec. 26, 2021USD ($)
Leases [Abstract]
Remaining fiscal 2022	$ 443
Fiscal 2023	1,764
Fiscal 2024	1,411
Fiscal 2025	1,356
Fiscal 2026	1,297
Thereafter	6,335
Total	12,606
Less: Interest	(1,536)
Present value of lease liabilities	$ 11,070

Share Based Compensation (Detai

Share Based Compensation (Details)	9 Months Ended
	Dec. 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	$ 32.80
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	10,287

Share Based Compensation (Det_2

Share Based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 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	$ 800	$ 700	$ 2,000	$ 1,600
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		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
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	30,538	166,088	240,501	166,088
Stock Repurchased During Period, Value	$ 1.1	$ 4.1	$ 8.5	$ 4.1
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	311,005		311,005

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Segment Reporting Information [Line Items]
Sales	$ 187,050	$ 142,927	$ 551,568	$ 433,900
Gross profit	33,940	28,239	110,201	92,012
Selling, general, and administrative expenses	19,681	17,750	54,216	49,009
Operating income	14,259	10,489	55,985	43,003
Industrial [Member]
Segment Reporting Information [Line Items]
Sales	100,554	64,356	269,572	197,029
Gross profit	15,303	9,207	42,121	32,100
Selling, general, and administrative expenses	7,367	6,978	20,064	19,474
Operating income	7,936	2,229	22,057	12,626
Water Treatment [Member]
Segment Reporting Information [Line Items]
Sales	49,756	39,298	168,105	128,552
Gross profit	11,103	10,027	44,855	35,888
Selling, general, and administrative expenses	8,254	6,788	22,721	17,654
Operating income	2,849	3,239	22,134	18,234
Health and Nutrition [Member]
Segment Reporting Information [Line Items]
Sales	36,740	39,273	113,891	108,319
Gross profit	7,534	9,005	23,225	24,024
Selling, general, and administrative expenses	4,060	3,984	11,431	11,881
Operating income	$ 3,474	$ 5,021	$ 11,794	$ 12,143

Segment Information (Details Te

Segment Information (Details Textual)	9 Months Ended
	Dec. 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

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Dec. 30, 2021	Dec. 26, 2021	Dec. 27, 2020
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross		$ 2,575	$ 35,017
Subsequent Event [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 18,500