v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Operating activities    
Net income $ 27,175 $ 1,671
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 3,270 3,704
Amortization of intangible assets 224 241
Deferred income taxes (25,881) (257)
Share-based compensation expense 1,633 1,668
Stock awards issued for non-employee director service 5 4
Amortization of deferred financing costs 30 41
Gain from disposition of assets (8) 0
Changes in operating assets and liabilities:    
Accounts receivable 568 265
Inventory (1,291) 6,795
Other current assets (86) (1,038)
Other non-current assets 166 81
Accounts payable and accrued expenses 7,261 1,308
Other current liabilities (764) 319
Other non-current liabilities 168 204
Net cash provided by operating activities 12,470 15,006
Investing activities    
Additions to property and equipment (2,494) (2,887)
Proceeds from sale of property and equipment 39 0
Cash paid for intangible assets 0 (125)
Net cash used in investing activities (2,455) (3,012)
Financing activities    
Borrowings from revolving loan payable 3,645 9,297
Payments made on revolving loan payable (3,645) (21,056)
Proceeds from stock options 238 536
Minority shareholder redemption (2,485) 0
Payments on capital leases (278) (313)
Treasury stock repurchase (2,272) 0
Statutory tax withholding payment for share-based compensation (1,644) (969)
Payment of liabilities related to financing activities (100) (100)
Preferred stock dividends paid (169) 0
Net cash used in financing activities (6,710) (12,605)
Effect of exchange rate changes on cash (20) (13)
Net change in cash and cash equivalents 3,285 (624)
Cash and cash equivalents, beginning of period 6,643 5,537
Cash and cash equivalents, end of period 9,928 4,913
Supplemental disclosure of non-cash investing and financing activities:    
Accrued asset purchases 712 735
Property acquired under capital lease 0 211
Supplemental disclosure of cash flow information:    
Cash paid during the period for income taxes 42 49
Cash paid during the period for interest $ 711 $ 564

Source