Tessco (TESS) 10-Q 6 Nov 20 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 27, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2020
Document Transition Report	false
Entity File Number	001-33938
Entity Registrant Name	TESSCO Technologies Incorporated
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-0729657
Entity Address, Address Line One	11126 McCormick Road
Entity Address, City or Town	Hunt Valley
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21031
City Area Code	410
Local Phone Number	229-1000
Title of 12(b) Security	Common Stock
Trading Symbol	TESS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,760,562
Entity Central Index Key	0000927355
Current Fiscal Year End Date	--03-28
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 27, 2020	Mar. 29, 2020
Current assets:
Cash and cash equivalents	$ 19,400	$ 50,000
Trade accounts receivable, net	74,688,900	82,868,400
Product inventory, net	62,364,300	69,148,000
Prepaid expenses and other current assets	14,382,200	11,707,500
Total current assets	151,454,800	163,773,900
Property and equipment, net	12,971,400	13,433,700
Intangible assets, net	15,827,500	11,157,400
Deferred tax assets	1,516,200	3,032,500
Lease asset - right of use	12,609,400	13,949,800
Other long-term assets	5,318,800	3,361,400
Total assets	199,698,100	208,708,700
Current liabilities:
Trade accounts payable	64,615,900	75,512,600
Payroll, benefits and taxes	6,063,600	4,258,300
Income and sales tax liabilities	585,700	450,800
Accrued expenses and other current liabilities	3,000,200	4,244,400
Revolving line of credit	32,052,000	25,563,900
Lease liability, current	2,605,000	2,579,200
Total current liabilities	108,922,400	112,609,200
Non-current lease liability	10,173,900	11,481,100
Other non-current liabilities	884,100	915,700
Total liabilities	119,980,400	125,006,000
Shareholders' equity:
Preferred stock, $0.01 par value per share, 500,000 shares authorized and no shares issued and outstanding
Common stock, $0.01 par value per share, 15,000,000 shares authorized, 8,692,421 shares issued and 8,690,171 shares outstanding as of September 27, 2020, and 14,354,368 shares issued and 8,577,549 shares outstanding as of March 29, 2020	102,700	101,400
Additional paid-in capital	66,303,400	65,318,500
Treasury stock, at cost, 2,250 shares as of September 27, 2020 and 5,776,819 shares as of March 29, 2020	(14,100)	(58,496,200)
Retained earnings	13,325,700	76,779,000
Total shareholders' equity	79,717,700	83,702,700
Total liabilities and shareholders' equity	$ 199,698,100	$ 208,708,700

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 27, 2020	Mar. 29, 2020
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars shares)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	8,692,421	14,354,368
Common stock, outstanding (in shares)	8,690,171	8,577,549
Treasury stock (in shares)	2,250	5,776,819

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income - USD ($)	3 Months Ended		6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Consolidated Statements of (Loss) Income
Revenues	$ 119,655,400	$ 141,810,900	$ 239,468,900	$ 272,540,200
Cost of goods sold	96,983,200	115,491,600	197,971,000	220,957,400
Gross profit	22,672,200	26,319,300	41,497,900	51,582,800
Selling, general and administrative expenses	22,812,200	25,745,200	46,546,600	53,841,700
Restructuring charge				488,000
(Loss) income from operations	(140,000)	574,100	(5,048,700)	(2,746,900)
Interest expense, net	105,900	335,100	216,600	543,800
(Loss) income before provision for (benefit from) income taxes	(245,900)	239,000	(5,265,300)	(3,290,700)
Provision for (benefit from) income taxes	21,000	217,000	(367,000)	(819,900)
Net (loss) income	$ (266,900)	$ 22,000	$ (4,898,300)	$ (2,470,800)
Basic loss per share (in dollars per share)	$ (0.03)		$ (0.57)	$ (0.29)
Diluted loss per share (in dollars per share)	$ (0.03)		$ (0.57)	$ (0.29)
Basic weighted-average common shares outstanding (in shares)	8,656,877	8,518,326	8,637,340	8,506,247
Effect of dilutive options and other equity instruments (in shares)		131,994
Diluted weighted-average common shares outstanding (in shares)	8,656,877	8,650,320	8,637,340	8,506,247
Cash dividends declared per common share (in dollars per share)		$ 0.20		$ 0.40

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Balance at Mar. 31, 2019	$ 99,800	$ 62,666,400	$ (57,614,100)	$ 103,635,100	$ 108,787,200
Balance (in shares) at Mar. 31, 2019	8,468,529
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 100	143,100			143,200
Proceeds from issuance of stock (in shares)	9,250
Treasury stock purchases			(189,100)		(189,100)
Treasury stock purchases (in shares)	(10,488)
Non-cash stock compensation expense	$ 400	338,500			338,900
Non-cash stock compensation expense (in shares)	41,256
Cash dividends paid				(1,702,600)	(1,702,600)
Net loss				(2,492,800)	(2,492,800)
Balance at Jun. 30, 2019	$ 100,300	63,148,000	(57,803,200)	99,439,700	104,884,800
Balance (in shares) at Jun. 30, 2019	8,508,547
Balance at Mar. 31, 2019	$ 99,800	62,666,400	(57,614,100)	103,635,100	108,787,200
Balance (in shares) at Mar. 31, 2019	8,468,529
Increase (Decrease) in Stockholders' Equity
Net loss					(2,470,800)
Balance at Sep. 29, 2019	$ 101,000	64,504,000	(58,484,300)	97,757,500	103,878,200
Balance (in shares) at Sep. 29, 2019	8,531,899
Balance at Jun. 30, 2019	$ 100,300	63,148,000	(57,803,200)	99,439,700	104,884,800
Balance (in shares) at Jun. 30, 2019	8,508,547
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 200	283,600			283,800
Proceeds from issuance of stock (in shares)	19,236
Treasury stock purchases			(681,100)		(681,100)
Treasury stock purchases (in shares)	(44,009)
Non-cash stock compensation expense		391,800			391,800
Exercise of stock options (in dollars)	$ 500	680,600			681,100
Exercise of stock options (in shares)	48,125
Cash dividends paid				(1,704,200)	(1,704,200)
Net loss				22,000	22,000
Balance at Sep. 29, 2019	$ 101,000	64,504,000	(58,484,300)	97,757,500	103,878,200
Balance (in shares) at Sep. 29, 2019	8,531,899
Balance at Mar. 29, 2020	$ 101,400	65,318,500	(58,496,200)	76,779,000	$ 83,702,700
Balance (in shares) at Mar. 29, 2020	8,577,549				8,577,549
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 200	132,500			$ 132,700
Proceeds from issuance of stock (in shares)	23,676
Treasury stock purchases			(58,800)		(58,800)
Treasury stock purchases (in shares)	(12,781)
Non-cash stock compensation expense	$ 600	311,300			311,900
Non-cash stock compensation expense (in shares)	48,685
Net loss				(4,631,400)	(4,631,400)
Balance at Jun. 28, 2020	$ 102,200	65,762,300	(58,555,000)	72,147,600	79,457,100
Balance (in shares) at Jun. 28, 2020	8,637,129
Balance at Mar. 29, 2020	$ 101,400	65,318,500	(58,496,200)	76,779,000	$ 83,702,700
Balance (in shares) at Mar. 29, 2020	8,577,549				8,577,549
Increase (Decrease) in Stockholders' Equity
Net loss					$ (4,898,300)
Balance at Sep. 27, 2020	$ 102,700	66,303,400	(14,100)	13,325,700	$ 79,717,700
Balance (in shares) at Sep. 27, 2020	8,690,171				8,690,171
Balance at Jun. 28, 2020	$ 102,200	65,762,300	(58,555,000)	72,147,600	$ 79,457,100
Balance (in shares) at Jun. 28, 2020	8,637,129
Increase (Decrease) in Stockholders' Equity
Proceeds from issuance of stock	$ 400	224,500			224,900
Proceeds from issuance of stock (in shares)	47,792
Treasury stock purchases			(14,100)		(14,100)
Treasury stock purchases (in shares)	(2,250)
Non-cash stock compensation expense	$ 100	316,600			316,700
Non-cash stock compensation expense (in shares)	7,500
Retirement of treasury stock (in dollars)			58,555,000	(58,555,000)
Net loss				(266,900)	(266,900)
Balance at Sep. 27, 2020	$ 102,700	$ 66,303,400	$ (14,100)	$ 13,325,700	$ 79,717,700
Balance (in shares) at Sep. 27, 2020	8,690,171				8,690,171

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,898,300)	$ (2,470,800)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	2,256,500	2,074,600
Non-cash stock-based compensation expense	628,600	730,700
Deferred income taxes and other	1,516,300
Change in trade accounts receivable	8,179,500	2,341,700
Change in product inventory	6,783,700	(12,298,800)
Change in prepaid expenses and other current assets	(2,674,700)	(3,518,800)
Change in other assets and other liabilities	(1,799,500)	16,500
Change in trade accounts payable	(10,550,700)	630,200
Change in payroll, benefits and taxes	1,805,300	(2,053,500)
Change in income and sales tax liabilities	134,900	(487,300)
Change in accrued expenses and other current liabilities	(935,500)	1,001,900
Net cash provided by (used in) operating activities	446,100	(14,033,600)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	(379,700)	(739,600)
Purchases of internal use software	(6,620,100)	(2,593,900)
Net cash used in investing activities	(6,999,800)	(3,333,500)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings from revolving line of credit	6,488,100	20,901,400
Proceeds from issuance of common stock	107,900	142,300
Cash dividends paid		(3,406,800)
Proceeds from exercise of stock options		680,600
Purchases of treasury stock and repurchases of stock from employees	(72,900)	(870,200)
Other financing activities		(2,300)
Net cash provided by financing activities	6,523,100	17,445,000
Net (decrease) increase in cash and cash equivalents	(30,600)	77,900
CASH AND CASH EQUIVALENTS, beginning of period	50,000	30,300
CASH AND CASH EQUIVALENTS, end of period	$ 19,400	$ 108,200

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Sep. 27, 2020
Description of Business and Basis of Presentation
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation ​ TESSCO Technologies Incorporated, a Delaware corporation (TESSCO, we, or the Company), architects and delivers innovative product and value chain solutions to support wireless systems. The Company provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing extensive internet and information technology. Approximately 96% of the Company’s sales are made to customers in the United States. The Company takes orders in several ways, including phone, fax, online and through electronic data interchange. Almost all of the Company’s sales are made in United States Dollars. ​ In management’s opinion, the accompanying interim Consolidated Financial Statements of the Company include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair presentation of the Company’s financial position for the interim periods presented. These statements are presented in accordance with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain information and footnote disclosures normally included in the Company’s annual financial statements have been omitted from these statements, as permitted under the applicable rules and regulations. The results of operations presented in the accompanying interim Consolidated Financial Statements are not necessarily representative of operations for an entire year. The information included in this Form 10-Q should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 29, 2020, filed with SEC on June 5, 2020. ​ ​

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Sep. 27, 2020
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements	Note 2. Recently Issued Accounting Pronouncements ​ Recently issued accounting pronouncements not yet adopted: ​ In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. This ASU is effective for periods beginning after December 15, 2022. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements and will adopt the standard on the first day of the Company’s 2024 fiscal year. ​

Intangible Assets

Intangible Assets	6 Months Ended
	Sep. 27, 2020
Intangible Assets
Intangible Assets	Note 3. Intangible Assets ​ Intangible assets, net on our Consolidated Balance Sheet as of September 27, 2020, consists of capitalized internally development computer software and an indefinite lived intangible asset. Capitalized internally developed computer software, net of accumulated amortization, was $15,032,100 and $10,362,000 as of September 27, 2020 and September 29, 2019, respectively. Amortization expense of capitalized internally developed computer software was $502,300 and $440,200 for the fiscal quarter ended September 27, 2020 and September 29, 2019, respectively. Amortization expense of capitalized internally developed computer software was $1,150,800 and $914,100 for the six months ended September 27, 2020 and September 29, 2019, respectively. Indefinite lived intangible assets were $795,400 as of September 27, 2020 and September 29, 2019.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 27, 2020
Stock-Based Compensation
Stock-Based Compensation	​ Note 4. Stock-Based Compensation ​ The Company’s selling, general and administrative expenses for the fiscal quarter and six months ended September 27, 2020 includes $ 316,700 and $628,600 , respectively of non-cash stock-based compensation expense. The Company’s selling, general and administrative expenses for the fiscal quarter and six months ended September 29, 2019 includes $391,800 and $730,700 , respectively of non-cash stock-based compensation expense. Non-cash stock-based compensation expense is primarily related to our Performance Stock Units (PSUs), Restricted Stock Units (RSUs), Restricted Stock, and Stock Options, granted or outstanding under the Company’s Third Amended and Restated Stock and Incentive Plan (the “1994 Plan”) and 2019 Stock and Incentive Plan (the “2019 Plan” and together with the 1994 Plan, the “Plans”), which was approved at the Annual Meeting of Shareholders held on July 25, 2019. No additional awards may be granted under the 1994 Plan, although awards outstanding under the 1994 Plan remain outstanding and governed by its terms. ​ Performance Stock Units: The following table summarizes the activity under the Company’s PSU program under the Plans, for the first six months of fiscal 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Weighted ​ ​ Ended ​ Average Fair ​ ​ September 27, ​ Value at Grant ​ ​ 2020 ​ Date (per unit) ​ ​ Unvested shares available for issue under outstanding PSUs, beginning of period 68,355 ​ $ 15.00 ​ ​ PSUs Vested (19,191) ​ 14.17 ​ ​ PSUs Forfeited/Cancelled (33,116) ​ 15.69 ​ ​ Unvested shares available for issue under outstanding PSUs, end of period 16,048 ​ $ 14.57 ​ ​ ​ The PSUs cancelled during fiscal 2021 primarily related to the fiscal 2020 grant of PSUs, which had a one-year measurement period (fiscal 2020). The PSUs were cancelled because the applicable fiscal 2020 performance targets were not attained. Per the provisions of the 2019 Plan, the shares related to these forfeited and cancelled PSUs were added back to the 2019 Plan and became available for future issuance under the 2019 Plan. ​ If all unvested PSUs earned thus far are assumed to vest in accordance with terms of the applicable award agreement, total unrecognized compensation costs on these PSUs would be less than $0.1 million as of September 27, 2020, and would be expensed through fiscal 2022. ​ Restricted Stock Units: On May 15, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, granted an aggregate of 21,000 RSUs under the 2019 Plan to non-employee directors of the Company. These awards provide for the issuance of shares of the Company’s common stock in accordance with a vesting schedule that generally provides for the vesting of 25% of the award on or about each of May 15 of 2021, 2022, 2023 and 2024, provided that the participant remains associated with the Company (or meets other criteria as prescribed in the applicable agreement) on each such date. ​ Restricted Stock: On May 15, 2020 and July 24, 2020, the Compensation Committee, with the concurrence of the full Board of Directors, awarded an aggregate of 65,821 shares of the Company’s common stock as restricted stock under the 2019 Plan to non-employee directors of the Company in lieu of their annual cash retainer for fiscal 2021. The value of the restricted shares at the time of issue to each director was determined by the Compensation Committee to approximate the cash amount of the 2021 fiscal year board retainer per director. These shares of restricted stock were issued subject to a risk of forfeiture that will lapse in whole or in part on July 1, 2021, generally depending on the length of continued service of the recipient on the Board for fiscal 2021. Dividends accruing in respect of the shares of restricted stock, if any, will accrue but will not be paid until July 1, 2021 and only in respect of those shares for which the risk of forfeiture has then lapsed. ​ As of September 27, 2020, there was approximately $0.6 million of total unrecognized compensation cost related to all outstanding RSUs and restricted stock, assuming all shares are earned. Unrecognized compensation costs are expected to be recognized ratably over a weighted average period of approximately three years. ​ PSUs and RSUs are expensed based on the grant date fair value, calculated as the closing price of TESSCO common stock as reported by Nasdaq on the date of grant minus the present value of dividends expected to be paid on the common stock before the award vests, because dividends or dividend-equivalent amounts do not accrue and are not paid on unvested PSUs and RSUs. ​ The Company accounts for forfeitures as they occur rather than estimate expected forfeitures. To the extent that forfeitures occur, stock-based compensation related to the restricted awards may be different from the Company’s expectations. ​ Stock Options: 1/36 ​ In addition, on May 15, 2020, performance-based stock options for an aggregate of 65,000 shares of common stock were granted under the 2019 Plan to certain officers of the Company. These stock options also have exercise prices equal to the market price of the Company’s stock on the grant date, and the terms thereof also provide for 25% vesting after one year and then 1/36 one half ​ The value of each option at the date of grant is amortized as compensation expense over the service period. This occurs without regard to subsequent changes in stock price, volatility, or interest rates over time, provided the option remains outstanding. ​ The following tables summarize the pertinent information for outstanding options. ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Weighted ​ ​ Ended ​ Average Fair ​ ​ September 27, ​ Value at Grant ​ ​ 2020 ​ Date (per unit) ​ Unvested options, beginning of period 465,374 ​ $ 2.38 ​ Options Granted 225,000 ​ 2.00 ​ Options Forfeited/Cancelled (46,041) ​ 2.33 ​ Options Vested (63,375) ​ 3.28 ​ Unvested options, end of period ​ 580,958 ​ ​ 2.14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 27, 2020 Grant Fiscal Year ​ Options Granted ​ ​ Option Exercise Price ​ Options Outstanding ​ Options Exercisable 2021 ​ 225,000 ​ $ 4.52 ​ 215,000 ​ - 2020 ​ 405,000 ​ $ 13.54 ​ 358,000 ​ 32,667 2019 ​ 66,500 ​ $ 16.31 ​ 44,000 ​ 24,624 2018 ​ 230,000 ​ $ 15.12 ​ 110,000 ​ 89,792 2017 ​ 410,000 ​ $ 12.57 ​ 273,958 ​ 272,917 2016 ​ 100,000 ​ $ 22.42 ​ 40,000 ​ 40,000 Total ​ ​ ​ ​ ​ ​ 1,040,958 ​ 460,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Fiscal Year ​ Expected Stock Price Volatility ​ Risk-Free Interest Rate ​ Expected Dividend Yield ​ Average Expected Term ​ Resulting Black Scholes Value 2021 ​ 46.68 % ​ 1.16 % ​ 0.00 % ​ 4.0 ​ $ 2.00 2020 ​ 35.88 % ​ 2.00 % ​ 5.82 % ​ 4.0 ​ $ 2.53 2019 ​ 35.59 % ​ 3.11 % ​ 4.99 % ​ 4.0 ​ $ 3.38 ​ As of September 27, 2020, there was approximately $1.0 million of total unrecognized compensation costs related to these options, assuming all shares are earned. These unrecognized compensation costs are expected to be recognized ratably over a period of approximately three years.

Retirement of Treasury Stock

Retirement of Treasury Stock	6 Months Ended
	Sep. 27, 2020
Retirement of Treasury Stock
Retirement of Treasury Stock	Note 5. Retirement of Treasury Stock ​ On July 2, 2020, the Board of Directors adopted resolutions providing for the retirement of the Company’s then accumulated treasury stock, and for a corresponding reduction in capital. Immediately prior to the retirement, the Company held 5,789,600 shares of issued but not outstanding common stock as treasury stock, at a cost of $58,555,000 . Upon retirement, the cost of the treasury stock was netted against retained earnings, and the number of authorized and unissued shares of common stock correspondingly increased by 5,789,600 shares. The total number of authorized shares of common stock remains unchanged at 15,000,000 . There has been no change to the total stockholders’ equity as a result of such resolutions. ​

Borrowings Under Revolving Cred

Borrowings Under Revolving Credit Facility	6 Months Ended
	Sep. 27, 2020
Borrowings Under Revolving Credit Facility
Borrowings Under Revolving Credit Facility	Note 6. Borrowings Under Revolving Credit Facility On October 19, 2017, the Company and its primary operating subsidiaries, as co-borrowers, and SunTrust Bank, as Administrative Agent and Lender, and Wells Fargo Bank, National Association, as a Lender, entered into an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”), which amended and restated the terms of a previously established secured Revolving Credit Facility with the same lenders, and which resulted in, among other modifications, an increase in the Company’s borrowing limit to up to $75 million, from the previous borrowing limit of up to $35 million. Capitalized terms used but not otherwise defined in this and the following four paragraphs have the meanings ascribed to each in the Amended and Restated Credit Agreement. ​ In addition to increasing the Company’s borrowing limit, and among other modifications, the Amended and Restated Credit Agreement extended the maturity date of the secured Revolving Credit Facility to October 19, 2021. The Amended and Restated Credit Agreement also set forth financial covenants, including a fixed charge coverage ratio to be maintained at any time during which the borrowing availability, as determined in accordance with the Amended and Restated Credit Agreement, falls below $10 million, as well as terms that could limit our ability to engage in specified transactions or activities, including (but not limited to) investments and acquisitions, sales of assets, payment of dividends, issuance of additional debt and other matters. The Amended and Restated Credit Agreement provides for a $5.0 million sublimit for the issuance of standby letters of credit, a $12.5 million sublimit for swingline loans and an accordion feature which, subject to certain conditions, could increase the aggregate amount of the commitments to up to $125 million, with the optional commitments being provided by existing Lenders or new lenders reasonably acceptable to the Administrative Agent. No Lender is obligated to increase its commitment. Availability is determined in accordance with a Borrowing Base, which has been expanded to include not only Eligible Receivables but also Eligible Inventory and is generally: (A) the sum of (i) 85% of Eligible Receivables; (ii) the Inventory Formula Amount for all Eligible Inventory which is aged less than 181 days ; and (iii) the lesser of (x) $4 million and (y) the Inventory Formula Amount for all Eligible Inventory which is aged at least 181 days ; minus (B) Reserves. Borrowings under the Amended and Restated Credit Agreement initially accrue interest from the applicable borrowing date at an Applicable Rate equal to the Eurodollar Rate plus the Applicable Margin. The Eurodollar Rate is the rate per annum obtained by dividing (i) LIBOR by (ii) a percentage equal to 1.00 minus the Eurodollar Reserve Percentage. When the Applicable Rate is the Eurodollar Rate plus the Applicable Margin, the Applicable Margin is 1.50% if Average Availability is greater than or equal to $15 million, and 1.75% otherwise. On September 27, 2020, the interest rate applicable to borrowings under the secured Revolving Credit Facility was 1.66%. Under certain circumstances, the Applicable Rate is subject to change at the Lenders’ option from the Eurodollar Rate plus the Applicable Margin to the Base Rate plus the Applicable Margin. Following an Event of Default, in addition to changing the Applicable Rate to the Base Rate plus the Applicable Margin, the Lenders’ may at their option set the Applicable Margin at 0.50% if the Base Rate applies or 1.75% if the Eurodollar Rate applies, and increase the Applicable Rate by an additional 200 basis points. The Applicable Rate adjusts on the first Business Day of each calendar month. The Company is required to pay a monthly Commitment Fee on the average daily unused portion of the secured Revolving Credit Facility provided for pursuant to the Amended and Restated Credit Agreement, at a per annum rate equal to 0.25%. In connection with the entering into of the Amended and Restated Credit Agreement, the Company, the other Company affiliate borrowers under the Amended and Restated Credit Agreement and other subsidiaries of the Company, referred to collectively as the Loan Parties, executed and delivered to SunTrust Bank, as Administrative Agent, a Reaffirmation Agreement, pursuant to which the obligations of the Loan Parties under a Guaranty and Security Agreement previously delivered by them in connection with the secured Revolving Credit Facility as previously existing (including the previously existing guaranty by the Loan Parties not otherwise Borrowers and the previously existing grant by the Company and the other Loan Parties of a continuing first priority security interest in inventory, accounts receivable and deposit accounts, and on all documents, instruments, general intangibles, letter of credit rights, and all proceeds) were ratified and confirmed as respects the Obligations arising from time to time under the secured Revolving Credit Facility provided for under the Amended and Restated Credit Agreement, and as respects certain other obligations of the Loan Parties to the Lenders and their affiliates arising from time to time, relating to swaps, hedges and cash management and other bank products. Borrowings may be used for working capital and other general corporate purposes, as further provided in, and subject to the applicable terms of, the Amended and Restated Credit Agreement. As of September 27, 2020, borrowings under the secured Revolving Credit Facility totaled $32.1 million and, therefore, the Company had $42.9 million available for borrowing as of September 27, 2020, subject to the Borrowing Base limitation and compliance with the other applicable terms of the Amended and Restated Credit Agreement, including the covenants referenced above. The line of credit has a lockbox arrangement associated with it and therefore the outstanding balance is classified as a current liability on our balance sheet. As of March 29,2020, borrowings under the secured Revolving Credit Facility totaled $25.6 million and, therefore, the Company had $49.4 million available on its revolving line of credit facility as of March 29, 2020, again subject to the Borrowing Base limitation and compliance with the other applicable terms of the Amended and Restated Credit Agreement, including the covenants referenced above. ​ As discussed in Note 11, on October 29, 2020, the Company entered into a new credit agreement and terminated the secured Revolving Credit Facility discussed above.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Sep. 27, 2020
Earnings Per Share
Earnings Per Share	Note 7. Earnings Per Share ​ The Company presents the computation of earnings per share (“EPS”) on a basic and diluted basis. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted EPS is computed similarly to basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common shares are excluded from the calculation if they are determined to be anti-dilutive. Diluted EPS was equal to basic EPS for the fiscal quarter ended and six months ended September 27, 2020 because the Company operated at a loss. The number of diluted weighted-average common shares would have been 8,766,481 for the fiscal quarter ended September 27, 2020, and 8,728,671 for six months ended September 27, 2020, respectively, if the Company was at a positive earning position. At September 27, 2020, stock options with respect to 1,040,958 shares of common stock were outstanding, of which 815,958 were anti-dilutive. There were no anti-dilutive PSUs or RSUs outstanding

Business Segments

Business Segments	6 Months Ended
	Sep. 27, 2020
Business Segments
Business Segments	Note 8. Business Segments ​ The Company evaluates its business within two segments: commercial and retail. The commercial segment consists of the following customer markets: (1) public carriers, that are generally responsible for building and maintaining the infrastructure system and provide airtime service to individual subscribers; and (2) value-added resellers and integrators, which includes value-added resellers, the government channel and private system operator markets. ​ The retail segment consists of the retail market which includes retailers, independent dealer agents and carriers. ​ The Company evaluates revenue, gross profit, and income before provision for income taxes at the segment level. Certain cost of sales and other applicable expenses have been allocated to each segment based on a percentage of revenues and/or gross profit, where appropriate. Segment and market activity for the second quarter and first six months of fiscal years 2021 and 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ September 27, 2020 ​ September 29, 2019 ​ ​ Commercial ​ Retail ​ ​ ​ ​ Commercial ​ Retail ​ ​ ​ ​ ​ Segment ​ Segment ​ Total ​ Segment ​ Segment ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 32,632 ​ $ — ​ $ 32,632 ​ $ 39,169 ​ $ — ​ $ 39,169 Value-added resellers and integrators ​ 56,260 ​ ​ — ​ ​ 56,260 ​ 64,482 ​ ​ — ​ ​ 64,482 Retail ​ — ​ ​ 30,763 ​ ​ 30,763 ​ — ​ ​ 38,160 ​ ​ 38,160 Total revenues ​ $ 88,892 ​ $ 30,763 ​ $ 119,655 ​ $ 103,651 ​ $ 38,160 ​ $ 141,811 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 3,570 ​ $ — ​ $ 3,570 ​ $ 4,860 ​ $ — ​ $ 4,860 Value-added resellers and integrators ​ 13,551 ​ ​ — ​ ​ 13,551 ​ 15,324 ​ ​ — ​ ​ 15,324 Retail ​ — ​ ​ 5,551 ​ ​ 5,551 ​ — ​ ​ 6,135 ​ ​ 6,135 Total gross profit ​ $ 17,121 ​ $ 5,551 ​ $ 22,672 ​ $ 20,184 ​ $ 6,135 ​ $ 26,319 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directly allocable expenses ​ ​ 7,293 ​ ​ 2,183 ​ ​ 9,476 ​ ​ 7,868 ​ ​ 3,011 ​ ​ 10,879 Segment net profit contribution ​ $ 9,828 ​ $ 3,368 ​ ​ 13,196 ​ $ 12,316 ​ $ 3,124 ​ ​ 15,440 Corporate support expenses ​ ​ ​ ​ ​ ​ ​ ​ 13,442 ​ ​ ​ ​ ​ ​ ​ ​ 15,201 (Loss) income before provision for income taxes ​ ​ ​ ​ ​ ​ ​ $ (246) ​ ​ ​ ​ ​ ​ ​ $ 239 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ September 27, 2020 ​ September 29, 2019 ​ ​ Commercial ​ Retail ​ ​ ​ ​ Commercial ​ Retail ​ ​ ​ ​ ​ Segment ​ Segment ​ Total ​ Segment ​ Segment ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 71,887 ​ $ — ​ $ 71,887 ​ $ 72,655 ​ $ — ​ $ 72,655 Value-added resellers and integrators ​ 113,483 ​ ​ — ​ ​ 113,483 ​ 129,676 ​ ​ — ​ ​ 129,676 Retail ​ — ​ ​ 54,099 ​ ​ 54,099 ​ — ​ ​ 70,209 ​ ​ 70,209 Total revenues ​ $ 185,370 ​ $ 54,099 ​ $ 239,469 ​ $ 202,331 ​ $ 70,209 ​ $ 272,540 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 7,298 ​ $ — ​ $ 7,298 ​ $ 9,113 ​ $ — ​ $ 9,113 Value-added resellers and integrators ​ 26,276 ​ ​ — ​ ​ 26,276 ​ 31,293 ​ ​ — ​ ​ 31,293 Retail ​ — ​ ​ 7,924 ​ ​ 7,924 ​ — ​ ​ 11,177 ​ ​ 11,177 Total gross profit ​ $ 33,574 ​ $ 7,924 ​ $ 41,498 ​ $ 40,406 ​ $ 11,177 ​ $ 51,583 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directly allocable expenses ​ ​ 14,755 ​ ​ 4,071 ​ ​ 18,826 ​ ​ 17,438 ​ ​ 6,026 ​ ​ 23,464 Segment net profit contribution ​ $ 18,819 ​ $ 3,853 ​ ​ 22,672 ​ $ 22,968 ​ $ 5,151 ​ ​ 28,119 Corporate support expenses ​ ​ ​ ​ ​ ​ ​ ​ 27,937 ​ ​ ​ ​ ​ ​ ​ ​ 31,410 Income before provision for income taxes ​ ​ ​ ​ ​ ​ ​ $ (5,265) ​ ​ ​ ​ ​ ​ ​ $ (3,291) ​ ​ ​

Leases

Leases	6 Months Ended
	Sep. 27, 2020
Leases
Leases	Note 9. Leases ​ The Company leases certain office spaces and equipment. Leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company’s leases include rental payments adjusted for inflation. The right-of-use lease asset and lease liability are recorded on our Consolidated Balance Sheet. ​ Quantitative information regarding the Company’s leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ September 27, 2020 ​ Operating lease expense ​ $ 1,748,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 27, 2020 ​ Maturities of lease liabilities by fiscal year are as follow: ​ ​ ​ ​ 2021 ​ $ 1,584,200 ​ 2022 ​ ​ 3,164,000 ​ 2023 ​ ​ 3,018,300 ​ 2024 ​ ​ 2,725,700 ​ 2025 ​ ​ 2,609,900 ​ Thereafter ​ ​ 1,987,600 ​ Total ​ ​ 15,089,700 ​ Less: present value discount ​ ​ (2,310,800) ​ Present value of lease liabilities ​ $ 12,778,900 ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ 3.8% ​ Weighted-average remaining lease term ​ ​ 4.9 years ​ ​

Shares Withheld

Shares Withheld	6 Months Ended
	Sep. 27, 2020
Shares Withheld
Shares Withheld	Note 10. Shares Withheld ​ The Company withholds shares of common stock from its employees and directors at their request, equal to the minimum federal and state tax withholdings or proceeds due to the Company related to vested PSUs, stock option exercises and vested RSUs. For the six months ended September 27, 2020 and September 29, 2019, the aggregate value of the shares withheld totaled $72,900 and $870,200 , respectively. ​

Concentration of Risk

Concentration of Risk	6 Months Ended
	Sep. 27, 2020
Concentration of Risk
Concentration of Risk	Note 11. Concentration of Risk ​ The Company’s future results could be negatively impacted by the loss of certain customer and/or vendor relationships. ​ For the fiscal quarter ended September 27, 2020, no customer accounted for more than 10% of total consolidated revenue. For the fiscal quarter ended September 29, 2019, revenue from the Company’s largest customer accounted for 10.5% of consolidated revenue. ​ For the six months ended September 27, 2020 and September 29, 2019, no customer accounted for more than 10% of total consolidated revenue. ​ For the fiscal quarter ended September 27, 2020, sales of products purchased from the Company’s largest supplier accounted for 19.7% of consolidated revenue. For the fiscal quarter ended September 29, 2019, sales of products purchased from the Company’s largest supplier accounted for 21.9% of consolidated revenue. No other suppliers accounted for more than 10% of consolidated revenue. ​ For the six months ended September 27, 2020, sales of products purchased from the Company’s largest supplier accounted for 20.6% of consolidated revenue. For the six months ended September 29, 2019, sales of products purchased from the Company’s largest supplier accounted for 21.7% of consolidated revenue. No other suppliers accounted for more than 10% of consolidated revenue. ​

Subsequent Event

Subsequent Event	6 Months Ended
	Sep. 27, 2020
Subsequent Event
Subsequent Event	Note 12. Subsequent Events ​ Inventory Purchase Agreement: On October 28, 2020, the Company entered into a definitive Inventory Purchase Agreement (the “Agreement”) which, at closing, will result in the Company’s exit from its retail business through the sale to Voice Comm, LLC, a Delaware limited liability company (“Voice Comm”), of most of the Company’s retail inventory, the Ventev brand as it relates to mobile device accessory products, and certain other retail-related assets. The Company will retain the Ventev brand as it relates to its commercial business products and operations, and will continue to fulfill orders and support the Company’s retail business customers until the business has been transitioned to Voice Comm. The transaction consideration to be paid at closing includes a payment for retail inventory being sold to Voice Comm at an amount that will be determined at closing in accordance with an agreed-upon valuation process to be performed by the Company and Voice Comm. The Company estimates the total cash to be received at closing to be between $8 million and $12 million, in the aggregate. The consideration to be paid at closing is subject to customary post-closing adjustments. In addition, Voice Comm has agreed to conditional payments over the next two years for purchase price adjustments related to specified inventory sold, and future customer returns during the two year period after the closing, and royalty payments for sales of Ventev-branded mobile device and accessory products for a four year period after the closing. The Agreement also addresses operational matters regarding transition of the inventory and other assets sold to Voice Comm. The transaction is expected to close in the third fiscal quarter of the current fiscal year, subject to closing conditions, including those customary for transactions of this kind. Accordingly, there are no assurances that the transaction will close in a timely manner, or ever. Voice Comm paid a $1 million deposit to the Company, which, in the event of termination of the Agreement before closing, will either be retained by the Company or returned to Voice Comm, depending on the reason for the termination. Tessco will be required to return the deposit and pay up to $1 million, including reimbursement of Voice Comm’s expenses, if Tessco does not proceed to closing under certain circumstances following a defined change in control of Tessco. Pursuant to the terms of the Agreement, the Company has agreed that, for a multi-year period following the closing, neither it nor its affiliates (including any owner of a majority of Tessco) will compete with Voice Comm’s retail business as operated by the Company at closing, subject to certain exceptions set forth in the Agreement. Tessco retains the ability to continue to supply retail products to its commercial customers, and the overall non-compete obligation may be terminated early by Tessco upon the occurrence of certain change in control events and the payment of a termination fee in connection therewith (which termination fee is initially an amount equal to $5,000,000 and diminishes ratably over the non-compete period). ​ Credit Agreement: On October 29, 2020, the Company entered into a Credit Agreement (the “Credit Agreement”) among the Company, the Company’s primary operating subsidiaries as co-borrowers, the Lenders party thereto, and Wells Fargo Bank, National Association (“Wells”), as Administrative Agent, swingline lender and an issuing bank. Terms used, but not defined, in this and the following nine (9) paragraphs have the meanings set forth in the Credit Agreement or the related Guaranty and Security Agreement. ​ The Credit Agreement provides for a senior secured asset based revolving credit facility of up to $75 million (the “Revolving Credit Facility”), which matures in forty-two months, on April 29, 2024. The Revolving Credit Facility includes a $5.0 million letter of credit sublimit and provides for the issuance of Swing Loans. The Credit Agreement also includes a provision permitting the Company, subject to certain conditions, to increase the aggregate amount of the commitments under the Revolving Credit Facility to an aggregate commitment amount of up to $125 million with optional additional commitments from then existing Lenders or new commitments from additional lenders, although no Lender is obligated to increase its commitment. Availability is determined in accordance with the Borrowing Base, which is generally 85% of Eligible Accounts minus plus plus minus ​ Borrowings initially accrue interest from the applicable borrowing date: (A) if a LIBOR Rate Loan, at a per annum rate equal to the LIBOR Rate plus the LIBOR Rate Margin of 2.25% until the March 31, 2021 financial statements are delivered and thereafter (i) if the Fixed Charge Coverage Ratio is less than 1.10 :1 .00, then 2.25% or (ii) if the Fixed Charge Coverage Ratio is greater than or equal to 1.10 :1.00, then 2.00% ; (B) if a Base Rate Loan, at a per annum rate equal to the Base Rate plus the Base Rate Margin of 1.25% per annum until the March 31, 2021 financial statements are delivered and thereafter (i) if the Fixed Charge Coverage Ratio is less than 1.10 :1.00, then 1.25% or (ii) if the Fixed Charge Coverage Ratio is greater than or equal to 1.10 :1.00, then 1.00% . The Credit Agreement contains a LIBOR floor of 0.25% so that if the LIBOR Rate is below 0.25% , then the LIBOR Rate will be deemed to be equal to 0.25% for purposes of the Credit Agreement. ​ Following an Event of Default, the Lenders’ may at their option increase the applicable per annum rate to a rate equal to two percentage points above such rate and, with certain events of default such increase is automatic. ​ The Company is required to pay a monthly Unused Line Fee on the average daily unused portion of the Revolving Credit Facility, at a per annum rate equal to 0.25% . ​ The Credit Agreement contains one financial covenant, a Fixed Charge Coverage Ratio, which is tested only if Excess Availability (generally, borrowing availability less the aggregate of trade payables and book overdrafts, each in excess of historical amounts) is less than the greater of (a) 16.7% of the maximum amount of the Credit Facility (at closing, $12,525,000) and (b) $12,500,000 . In addition, the Credit Agreement contains provisions that could limit our ability to engage in specified transactions or activities, including (but not limited to) investments and acquisitions, sales of assets, payment of dividends, issuance of additional debt and other matters. ​ Borrowings under the Revolving Credit Facility will be used to pay all indebtedness outstanding under the existing credit facility among the Company and certain subsidiaries, the lenders party thereto and Truist Bank (successor by merger to SunTrust Bank), as administrative agent, and thereafter may be used for working capital and other general corporate purposes, and as further provided in, and subject to the applicable terms of, the Credit Agreement. ​ The Company is required to make certain prepayments under the Revolving Credit Facility under certain circumstances, including from net cash proceeds from certain asset dispositions in excess of certain thresholds. ​ The Credit Agreement contains representations, warranties and affirmative covenants. The Credit Agreement also contains negative covenants and restrictions on, among other things: (i) Indebtedness, (ii) liens, (iii) fundamental changes, (iv) disposition of assets, (v) restricted payments (including certain restrictions on redemptions and dividends), (vi) investments and (vii) transactions with affiliates. The Credit Agreement also contains events of default, such as payment defaults, cross-defaults to other material indebtedness, misrepresentations, bankruptcy and insolvency, the occurrence of a Change of Control and the failure to observe the negative covenants and other covenants contained in the Credit Agreement and the other loan documents. ​ Pursuant to a related Guaranty and Security Agreement, by and among the Company, the other borrowers under the Credit Agreement and the other operating subsidiaries of the Company (collectively, the “Loan Parties”), and Wells, as Administrative Agent, the Obligations, which include the obligations under the Credit Agreement, are guaranteed by the Loan Parties, and secured by continuing first priority security interests in the Company’s and the other Loan Parties’ (including both borrowers and guarantors) Accounts, Books, Chattel Paper, Deposit Accounts, General Intangibles, Inventory, Negotiable Collateral, Supporting Obligations, Money, Cash Equivalents or other assets that come into the possession, custody or control of the Agent or any Lender, and related assets, and the proceeds and products of any of the foregoing (the “Collateral”). The security interests in the Collateral are in favor of the Administrative Agent, for the benefit of the Lenders party to the Credit Agreement from time to time. The Obligations secured also include certain other obligations of the Loan Parties to the Lenders and their affiliates arising from time to time, relating to swaps, hedges and cash management and other bank products. ​ ​ ​

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Sep. 27, 2020
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements not yet adopted: ​ In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. This ASU is effective for periods beginning after December 15, 2022. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements and will adopt the standard on the first day of the Company’s 2024 fiscal year.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 27, 2020
Stock-Based Compensation
Schedule of Performance Stock Unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Weighted ​ ​ Ended ​ Average Fair ​ ​ September 27, ​ Value at Grant ​ ​ 2020 ​ Date (per unit) ​ ​ Unvested shares available for issue under outstanding PSUs, beginning of period 68,355 ​ $ 15.00 ​ ​ PSUs Vested (19,191) ​ 14.17 ​ ​ PSUs Forfeited/Cancelled (33,116) ​ 15.69 ​ ​ Unvested shares available for issue under outstanding PSUs, end of period 16,048 ​ $ 14.57 ​ ​
Schedule of Stock Options	​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Weighted ​ ​ Ended ​ Average Fair ​ ​ September 27, ​ Value at Grant ​ ​ 2020 ​ Date (per unit) ​ Unvested options, beginning of period 465,374 ​ $ 2.38 ​ Options Granted 225,000 ​ 2.00 ​ Options Forfeited/Cancelled (46,041) ​ 2.33 ​ Options Vested (63,375) ​ 3.28 ​ Unvested options, end of period ​ 580,958 ​ ​ 2.14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 27, 2020 Grant Fiscal Year ​ Options Granted ​ ​ Option Exercise Price ​ Options Outstanding ​ Options Exercisable 2021 ​ 225,000 ​ $ 4.52 ​ 215,000 ​ - 2020 ​ 405,000 ​ $ 13.54 ​ 358,000 ​ 32,667 2019 ​ 66,500 ​ $ 16.31 ​ 44,000 ​ 24,624 2018 ​ 230,000 ​ $ 15.12 ​ 110,000 ​ 89,792 2017 ​ 410,000 ​ $ 12.57 ​ 273,958 ​ 272,917 2016 ​ 100,000 ​ $ 22.42 ​ 40,000 ​ 40,000 Total ​ ​ ​ ​ ​ ​ 1,040,958 ​ 460,000
Schedule of assumptions of Black-Scholes-Merton option pricing model	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Fiscal Year ​ Expected Stock Price Volatility ​ Risk-Free Interest Rate ​ Expected Dividend Yield ​ Average Expected Term ​ Resulting Black Scholes Value 2021 ​ 46.68 % ​ 1.16 % ​ 0.00 % ​ 4.0 ​ $ 2.00 2020 ​ 35.88 % ​ 2.00 % ​ 5.82 % ​ 4.0 ​ $ 2.53 2019 ​ 35.59 % ​ 3.11 % ​ 4.99 % ​ 4.0 ​ $ 3.38

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Sep. 27, 2020
Business Segments
Schedule of Revenue and Gross Profit by Market	Segment and market activity for the second quarter and first six months of fiscal years 2021 and 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ September 27, 2020 ​ September 29, 2019 ​ ​ Commercial ​ Retail ​ ​ ​ ​ Commercial ​ Retail ​ ​ ​ ​ ​ Segment ​ Segment ​ Total ​ Segment ​ Segment ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 32,632 ​ $ — ​ $ 32,632 ​ $ 39,169 ​ $ — ​ $ 39,169 Value-added resellers and integrators ​ 56,260 ​ ​ — ​ ​ 56,260 ​ 64,482 ​ ​ — ​ ​ 64,482 Retail ​ — ​ ​ 30,763 ​ ​ 30,763 ​ — ​ ​ 38,160 ​ ​ 38,160 Total revenues ​ $ 88,892 ​ $ 30,763 ​ $ 119,655 ​ $ 103,651 ​ $ 38,160 ​ $ 141,811 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 3,570 ​ $ — ​ $ 3,570 ​ $ 4,860 ​ $ — ​ $ 4,860 Value-added resellers and integrators ​ 13,551 ​ ​ — ​ ​ 13,551 ​ 15,324 ​ ​ — ​ ​ 15,324 Retail ​ — ​ ​ 5,551 ​ ​ 5,551 ​ — ​ ​ 6,135 ​ ​ 6,135 Total gross profit ​ $ 17,121 ​ $ 5,551 ​ $ 22,672 ​ $ 20,184 ​ $ 6,135 ​ $ 26,319 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directly allocable expenses ​ ​ 7,293 ​ ​ 2,183 ​ ​ 9,476 ​ ​ 7,868 ​ ​ 3,011 ​ ​ 10,879 Segment net profit contribution ​ $ 9,828 ​ $ 3,368 ​ ​ 13,196 ​ $ 12,316 ​ $ 3,124 ​ ​ 15,440 Corporate support expenses ​ ​ ​ ​ ​ ​ ​ ​ 13,442 ​ ​ ​ ​ ​ ​ ​ ​ 15,201 (Loss) income before provision for income taxes ​ ​ ​ ​ ​ ​ ​ $ (246) ​ ​ ​ ​ ​ ​ ​ $ 239 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ September 27, 2020 ​ September 29, 2019 ​ ​ Commercial ​ Retail ​ ​ ​ ​ Commercial ​ Retail ​ ​ ​ ​ ​ Segment ​ Segment ​ Total ​ Segment ​ Segment ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 71,887 ​ $ — ​ $ 71,887 ​ $ 72,655 ​ $ — ​ $ 72,655 Value-added resellers and integrators ​ 113,483 ​ ​ — ​ ​ 113,483 ​ 129,676 ​ ​ — ​ ​ 129,676 Retail ​ — ​ ​ 54,099 ​ ​ 54,099 ​ — ​ ​ 70,209 ​ ​ 70,209 Total revenues ​ $ 185,370 ​ $ 54,099 ​ $ 239,469 ​ $ 202,331 ​ $ 70,209 ​ $ 272,540 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public carrier ​ $ 7,298 ​ $ — ​ $ 7,298 ​ $ 9,113 ​ $ — ​ $ 9,113 Value-added resellers and integrators ​ 26,276 ​ ​ — ​ ​ 26,276 ​ 31,293 ​ ​ — ​ ​ 31,293 Retail ​ — ​ ​ 7,924 ​ ​ 7,924 ​ — ​ ​ 11,177 ​ ​ 11,177 Total gross profit ​ $ 33,574 ​ $ 7,924 ​ $ 41,498 ​ $ 40,406 ​ $ 11,177 ​ $ 51,583 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directly allocable expenses ​ ​ 14,755 ​ ​ 4,071 ​ ​ 18,826 ​ ​ 17,438 ​ ​ 6,026 ​ ​ 23,464 Segment net profit contribution ​ $ 18,819 ​ $ 3,853 ​ ​ 22,672 ​ $ 22,968 ​ $ 5,151 ​ ​ 28,119 Corporate support expenses ​ ​ ​ ​ ​ ​ ​ ​ 27,937 ​ ​ ​ ​ ​ ​ ​ ​ 31,410 Income before provision for income taxes ​ ​ ​ ​ ​ ​ ​ $ (5,265) ​ ​ ​ ​ ​ ​ ​ $ (3,291) ​ ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 27, 2020
Leases
Schedule of quantitative information regarding the Company's leases	​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ September 27, 2020 ​ Operating lease expense ​ $ 1,748,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 27, 2020 ​ Maturities of lease liabilities by fiscal year are as follow: ​ ​ ​ ​ 2021 ​ $ 1,584,200 ​ 2022 ​ ​ 3,164,000 ​ 2023 ​ ​ 3,018,300 ​ 2024 ​ ​ 2,725,700 ​ 2025 ​ ​ 2,609,900 ​ Thereafter ​ ​ 1,987,600 ​ Total ​ ​ 15,089,700 ​ Less: present value discount ​ ​ (2,310,800) ​ Present value of lease liabilities ​ $ 12,778,900 ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ 3.8% ​ Weighted-average remaining lease term ​ ​ 4.9 years ​

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	6 Months Ended
	Sep. 27, 2020
US | Geographic Concentration Risk | Revenue
Concentration Risk
Concentration risk (as a percent)	96.00%

Intangible Assets - (Details)

Intangible Assets - (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Goodwill and Other Intangible Assets
Capitalized computer software	$ 15,032,100	$ 10,362,000	$ 15,032,100	$ 10,362,000
Indefinite lived intangible assets	795,400		795,400
Internally developed computer software
Goodwill and Other Intangible Assets
Amortization expense	$ 502,300	$ 440,200	$ 1,150,800	$ 914,100

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Selling, general and administrative expenses
Stock-based compensation
Stock-based compensation (in dollars)	$ 316,700	$ 391,800	$ 628,600	$ 730,700

Stock-Based Compensation - PSUs

Stock-Based Compensation - PSUs (Details) - Performance Stock Units - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 27, 2020	Sep. 27, 2020	Mar. 29, 2020
PSU Activity
Unvested shares available for issue under outstanding PSUs, beginning of period (in shares)		68,355
Vested (in shares)		(19,191)
Forfeited/cancelled (in shares)		(33,116)
Unvested shares available for issue under outstanding PSUs, end of period (in shares)	16,048	16,048	68,355
Unvested PSUs, Weighted-Average Fair Value at Grant Date
Unvested shares available for issue under outstanding PSUs, beginning of period (in dollars per share)		$ 15
Vested (in dollars per share)		14.17
Forfeited/cancelled (in dollars per share)		15.69
Unvested shares available for issue under outstanding PSUs, end of period (in dollars per share)	$ 14.57	$ 14.57	$ 15
Additional stock based compensation information
Measurement period	1 year		1 year
Maximum
Additional stock based compensation information
Unrecognized compensation costs (in dollars)	$ 0.1	$ 0.1

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock and RSUs (Details) - USD ($) $ in Millions	May 15, 2020	Jul. 24, 2020	Sep. 27, 2020
Restricted stock and RSUs
Stock-based compensation
Unrecognized compensation costs (in dollars)			$ 0.6
Unrecognized compensation costs, period for recognition			3 years
RSUs
Stock-based compensation
Granted (in shares)	21,000
Annual vesting percentage			25.00%
Restricted stock awards
Stock-based compensation
Granted (in shares)		65,821

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Rollforward (Details)	May 15, 2020trancheshares	May 15, 2020shares	Sep. 27, 2020$ / sharesshares	Mar. 29, 2020$ / sharesshares	Mar. 31, 2019$ / sharesshares	Apr. 01, 2018shares	Mar. 26, 2017shares	Mar. 27, 2016shares
Outstanding Options
Unvested options, beginning of period (in shares)			465,374
Options Granted (in shares)			225,000
Options Forfeited/Cancelled (in shares)			(46,041)
Options Vested (in shares)			(63,375)
Unvested options, end of period (in shares)			580,958	465,374
Weighted Average Fair Value at Grant
Unvested options, beginning of period (in dollars per share) | $ / shares			$ 2.38
Options Granted (in dollars per share) | $ / shares			2
Options Forfeited/Cancelled (in dollars per share) | $ / shares			2.33
Options Vested (in dollars per share) | $ / shares			3.28
Unvested options, end of period | $ / shares			$ 2.14	$ 2.38
Stock Options, Vesting Based On Performance, One | Tranche one
Stock Options:
Vesting percentage	25.00%
Vesting period	1 year
Stock Options, Vesting Based On Performance, One | Tranche two
Stock Options:
Monthly percentage of vesting of share based compensation	2.78%
Additional vesting period after the initial period	3 years
Stock Options, Vesting Based On Performance, Two
Stock Options:
Number of vesting milestones | tranche	2
Stock Options, Vesting Based On Performance, Two | Tranche one
Stock Options:
Vesting percentage	50.00%
Stock Options, Vesting Based On Performance, Two | Tranche two
Stock Options:
Vesting percentage	50.00%
Grant Fiscal Year 2021
Outstanding Options
Options Granted (in shares)			225,000
Weighted Average Fair Value at Grant
Options Granted (in dollars per share) | $ / shares			$ 2
Grant Fiscal Year 2021 | Stock Options Vesting Based On Service
Outstanding Options
Options Granted (in shares)		160,000
Grant Fiscal Year 2021 | Stock Options Vesting Based On Service | Tranche one
Stock Options:
Vesting percentage		25.00%
Vesting period		1 year
Grant Fiscal Year 2021 | Stock Options Vesting Based On Service | Tranche two
Stock Options:
Monthly percentage of vesting of share based compensation		2.78%
Additional vesting period after the initial period		3 years
Grant Fiscal Year 2021 | Stock Options Vesting Based On Performance
Outstanding Options
Options Granted (in shares)	65,000
Grant Fiscal Year 2020
Outstanding Options
Options Granted (in shares)				405,000
Weighted Average Fair Value at Grant
Options Granted (in dollars per share) | $ / shares				$ 2.53
Grant Fiscal Year 2019
Outstanding Options
Options Granted (in shares)					66,500
Weighted Average Fair Value at Grant
Options Granted (in dollars per share) | $ / shares					$ 3.38
Grant Fiscal Year 2018
Outstanding Options
Options Granted (in shares)						230,000
Grant Fiscal Year 2017
Outstanding Options
Options Granted (in shares)							410,000
Grant Fiscal Year 2016
Outstanding Options
Options Granted (in shares)								100,000

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options By Grant Date (Details) - $ / shares	6 Months Ended	12 Months Ended
	Sep. 27, 2020	Mar. 29, 2020	Mar. 31, 2019	Apr. 01, 2018	Mar. 26, 2017	Mar. 27, 2016
Outstanding options
Options Granted (in shares)	225,000
Options Outstanding (in shares)	1,040,958
Options Exercisable (in shares)	460,000
Grant Fiscal Year 2021
Outstanding options
Options Granted (in shares)	225,000
Option Exercise Price (in dollars per share)	$ 4.52
Options Outstanding (in shares)	215,000
Grant Fiscal Year 2020
Outstanding options
Options Granted (in shares)		405,000
Option Exercise Price (in dollars per share)		$ 13.54
Options Outstanding (in shares)	358,000
Options Exercisable (in shares)	32,667
Grant Fiscal Year 2019
Outstanding options
Options Granted (in shares)			66,500
Option Exercise Price (in dollars per share)			$ 16.31
Options Outstanding (in shares)	44,000
Options Exercisable (in shares)	24,624
Grant Fiscal Year 2018
Outstanding options
Options Granted (in shares)				230,000
Option Exercise Price (in dollars per share)				$ 15.12
Options Outstanding (in shares)	110,000
Options Exercisable (in shares)	89,792
Grant Fiscal Year 2017
Outstanding options
Options Granted (in shares)					410,000
Option Exercise Price (in dollars per share)					$ 12.57
Options Outstanding (in shares)	273,958
Options Exercisable (in shares)	272,917
Grant Fiscal Year 2016
Outstanding options
Options Granted (in shares)						100,000
Option Exercise Price (in dollars per share)						$ 22.42
Options Outstanding (in shares)	40,000
Options Exercisable (in shares)	40,000

Stock-Based Compensation - St_3

Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 29, 2019	Sep. 27, 2020	Mar. 29, 2020	Mar. 31, 2019
Valuation assumptions
Resulting Black Scholes Value (in dollars per share)		$ 2
Exercise of stock options (in dollars)	$ 681,100
Grant Fiscal Year 2021
Valuation assumptions
Expected Stock Price Volatility (as a percent)		46.68%
Risk-Free Interest rate (as a percent)		1.16%
Expected Dividend Yield (as a percent)		0.00%
Average Expected Term		4 years
Resulting Black Scholes Value (in dollars per share)		$ 2
Grant Fiscal Year 2020
Valuation assumptions
Expected Stock Price Volatility (as a percent)			35.88%
Risk-Free Interest rate (as a percent)			2.00%
Expected Dividend Yield (as a percent)			5.82%
Average Expected Term			4 years
Resulting Black Scholes Value (in dollars per share)			$ 2.53
Grant Fiscal Year 2019
Valuation assumptions
Expected Stock Price Volatility (as a percent)				35.59%
Risk-Free Interest rate (as a percent)				3.11%
Expected Dividend Yield (as a percent)				4.99%
Average Expected Term				4 years
Resulting Black Scholes Value (in dollars per share)				$ 3.38
Stock Options
Valuation assumptions
Unrecognized compensation costs (in dollars)		$ 1,000,000
Unrecognized compensation costs, period for recognition		3 years

Retirement of Treasury Stock (D

Retirement of Treasury Stock (Details) - USD ($)	Jul. 02, 2020	Sep. 27, 2020	Jun. 28, 2020	Mar. 29, 2020
Treasury stock (in shares)		2,250	5,789,600	5,776,819
Increase in unissued shares upon retirement	5,789,600
Common stock, authorized (in shares)	15,000,000	15,000,000		15,000,000
Treasury Stock
Amount of retired treasury stock	$ 58,555,000	$ (58,555,000)
Treasury Stock Retirement 2020 Resolutions
Change to total stockholders' equity	$ 0

Borrowings Under Revolving Cr_2

Borrowings Under Revolving Credit Facility (Details) - Revolving Credit Facility $ in Millions	Oct. 19, 2017USD ($)	Sep. 27, 2020USD ($)	Mar. 29, 2020USD ($)	Oct. 18, 2017USD ($)
Credit Facility
Maximum borrowing capacity	$ 75			$ 35
Maximum aggregate commitment amount	$ 125
Borrowing base as a percent of eligible receivables	85.00%
Interest rate (as a percent)		1.66%
Increase of applicable rate upon event of default (as a percent)	2.00%
Fee commitment (as a percent)	0.25%
Outstanding principal balance		$ 32.1	$ 25.6
Available borrowing capacity		$ 42.9	$ 49.4
Minimum
Credit Facility
Inventory age	181 days
Maximum
Credit Facility
Maximum borrowing availability amount required	$ 10
Inventory age	181 days
Amount included in formula to determine borrowing base	$ 4
Base rate
Credit Facility
Interest rate spread on variable rate basis upon event of default (as a percent)	0.50%
Eurodollar rate
Credit Facility
Value from which Eurodollar Reserve Percentage is subtracted	1
Interest rate spread on variable rate when average availability is greater or equal to $15 million	1.50%
Average availability threshold	$ 15
Interest rate spread on variable rate when average availability otherwise	1.75%
Interest rate spread on variable rate basis upon event of default (as a percent)	1.75%
Standby letters of credit
Credit Facility
Maximum borrowing capacity	$ 5
Swingline loan
Credit Facility
Maximum borrowing capacity	$ 12.5

Earnings Per Share (Details)

Earnings Per Share (Details)	3 Months Ended	6 Months Ended
	Sep. 27, 2020shares	Sep. 27, 2020shares
Antidilutive Securities
Diluted weighted average common shares, at positive earning position	8,766,481	8,728,671
Options outstanding (in shares)	1,040,958	1,040,958
Stock Options
Antidilutive Securities
Anti-dilutive equity awards (in shares)		815,958
Performance Stock Units
Antidilutive Securities
Anti-dilutive equity awards (in shares)		0
RSUs
Antidilutive Securities
Anti-dilutive equity awards (in shares)		0

Business Segments - Segment Act

Business Segments - Segment Activity (Details)	3 Months Ended		6 Months Ended
	Sep. 27, 2020USD ($)	Sep. 29, 2019USD ($)	Sep. 27, 2020USD ($)segment	Sep. 29, 2019USD ($)
Business Segments
Number of reportable segment | segment			2
Market unit activity
Revenues	$ 119,655,400	$ 141,810,900	$ 239,468,900	$ 272,540,200
Gross Profit	22,672,200	26,319,300	41,497,900	51,582,800
(Loss) income before provision for (benefit from) income taxes	(245,900)	239,000	(5,265,300)	(3,290,700)
Segments
Market unit activity
Directly allocable expenses	9,476,000	10,879,000	18,826,000	23,464,000
(Loss) income before provision for (benefit from) income taxes	13,196,000	15,440,000	22,672,000	28,119,000
Corporate
Market unit activity
Directly allocable expenses	13,442,000	15,201,000	27,937,000	31,410,000
Public carrier
Market unit activity
Revenues	32,632,000	39,169,000	71,887,000	72,655,000
Gross Profit	3,570,000	4,860,000	7,298,000	9,113,000
Value-added resellers and integrators
Market unit activity
Revenues	56,260,000	64,482,000	113,483,000	129,676,000
Gross Profit	13,551,000	15,324,000	26,276,000	31,293,000
Retail
Market unit activity
Revenues	30,763,000	38,160,000	54,099,000	70,209,000
Gross Profit	5,551,000	6,135,000	7,924,000	11,177,000
Commercial Segment
Market unit activity
Revenues	88,892,000	103,651,000	185,370,000	202,331,000
Gross Profit	17,121,000	20,184,000	33,574,000	40,406,000
Commercial Segment | Segments
Market unit activity
Directly allocable expenses	7,293,000	7,868,000	14,755,000	17,438,000
(Loss) income before provision for (benefit from) income taxes	9,828,000	12,316,000	18,819,000	22,968,000
Commercial Segment | Public carrier
Market unit activity
Revenues	32,632,000	39,169,000	71,887,000	72,655,000
Gross Profit	3,570,000	4,860,000	7,298,000	9,113,000
Commercial Segment | Value-added resellers and integrators
Market unit activity
Revenues	56,260,000	64,482,000	113,483,000	129,676,000
Gross Profit	13,551,000	15,324,000	26,276,000	31,293,000
Retail Segment
Market unit activity
Revenues	30,763,000	38,160,000	54,099,000	70,209,000
Gross Profit	5,551,000	6,135,000	7,924,000	11,177,000
Retail Segment | Segments
Market unit activity
Directly allocable expenses	2,183,000	3,011,000	4,071,000	6,026,000
(Loss) income before provision for (benefit from) income taxes	3,368,000	3,124,000	3,853,000	5,151,000
Retail Segment | Retail
Market unit activity
Revenues	30,763,000	38,160,000	54,099,000	70,209,000
Gross Profit	$ 5,551,000	$ 6,135,000	$ 7,924,000	$ 11,177,000

Business Segments - Product Cat

Business Segments - Product Category (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Business Segments
Revenues	$ 119,655,400	$ 141,810,900	$ 239,468,900	$ 272,540,200
Gross Profit	$ 22,672,200	$ 26,319,300	$ 41,497,900	$ 51,582,800

Leases - Quantitative informati

Leases - Quantitative information (Details)	6 Months Ended
	Sep. 27, 2020USD ($)
Leases
Operating lease expense	$ 1,748,300
Maturities of discounted lease liabilities by fiscal year are as follow:
2021	1,584,200
2022	3,164,000
2023	3,018,300
2024	2,725,700
2025	2,609,900
Thereafter	1,987,600
Total	15,089,700
Less: present value discount	(2,310,800)
Present value of lease liabilities	$ 12,778,900
Weighted-average discount rate - Operating leases	3.80%
Weighted-average remaining lease term	4 years 10 months 24 days

Shares Withheld (Detail)

Shares Withheld (Detail) - USD ($)	6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019
Shares Withheld
Tax withholding for share based compensation	$ 72,900	$ 870,200

Concentration of Risk (Details)

Concentration of Risk (Details) - Revenue	3 Months Ended		6 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Customer Concentration Risk | Largest customer
Concentration Risk
Concentration risk (as a percent)		10.50%
Supplier Concentration Risk | Largest Supplier
Concentration Risk
Concentration risk (as a percent)	19.70%	21.90%	20.60%	21.70%

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - USD ($) $ in Thousands	Oct. 29, 2020	Oct. 28, 2020
2020 Revolving Credit Facility
Credit Agreement
Maximum borrowing capacity	$ 75,000
Term	42 months
Maximum aggregate commitment amount	$ 125,000
Borrowing base as a percent of eligible accounts	85.00%
Amount included in formula to determine borrowing base	$ 4,000
Interest rate spread on variable rate basis upon event of default (as a percent)	2.00%
Monthly unused line fee (as a percent)	0.25%
Threshold percentage for testing Fixed Charge Coverage Ratio	16.70%
2020 Revolving Credit Facility | Minimum
Credit Agreement
Inventory age	180 days
Interest rate (as a percent)	0.25%
Credit Facility amount used in calculation for testing financial covenant	$ 12,500
2020 Revolving Credit Facility | Maximum
Credit Agreement
Inventory age	181 days
Credit Facility amount used in calculation for testing financial covenant	$ 12,525
2020 Revolving Credit Facility | LIBOR
Credit Agreement
Interest rate spread on variable rate basis (as a percent)	2.25%
Fixed Charge Coverage Ratio threshold	1.10
Interest rate spread on variable rate when Fixed Charge Coverage Ratio is less than 1.10	2.25%
Interest rate spread on variable rate when Fixed Charge Coverage Ratio is greater or equal to 1.10	2.00%
2020 Revolving Credit Facility | LIBOR | Minimum
Credit Agreement
Interest rate (as a percent)	0.25%
2020 Revolving Credit Facility | Base rate
Credit Agreement
Interest rate spread on variable rate basis (as a percent)	1.25%
Fixed Charge Coverage Ratio threshold	1.10
Interest rate spread on variable rate when Fixed Charge Coverage Ratio is less than 1.10	1.25%
Interest rate spread on variable rate when Fixed Charge Coverage Ratio is greater or equal to 1.10	1.00%
2020 Revolving Credit Facility | Standby letters of credit
Credit Agreement
Maximum borrowing capacity	$ 5,000
Inventory Purchase Agreement | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Inventory Purchase Agreement
Payment period for conditional payments for purchase price adjustments		2 years
Payment period for conditional payments for future customer returns		2 years
Royalty payment period		4 years
Amount of deposit received		$ 1,000
Maximum amount entity must reimburse counterparty		1,000
Maximum amount of termination fee on non-compete obligation		5,000
Inventory Purchase Agreement | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Minimum
Inventory Purchase Agreement
Cash to be received		8,000
Inventory Purchase Agreement | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Maximum
Inventory Purchase Agreement
Cash to be received		$ 12,000