XML 61 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
May 25, 2014
May 26, 2013
May 27, 2012
Consolidated net income $ 19,342,000 $ 22,812,000 $ 13,099,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,114,000 7,295,000 5,621,000
Stock-based compensation expense 1,356,000 1,695,000 1,872,000
Deferred taxes 5,605,000 6,511,000 3,283,000
Change in investment in non-public company , fair value (10,000,000) (8,100,000) (5,838,000)
Tax benefit from stock based compensation (1,922,000) (1,302,000) (4,057,000)
Net loss on disposal of property and equipment 329,000 217,000 12,000
Earn out liability   (3,933,000) 1,421,000
Changes in assets and liabilities, net of effects from acquisitions:      
Accounts receivable, net (7,994,000) (4,121,000) (3,246,000)
Accounts receivable, related party 12,000 (348,000) 130,000
Income taxes receivable 5,025,000 (3,754,000) 4,581,000
Inventories, net (622,000) (2,102,000) (441,000)
Issuance of notes and advances receivable (4,763,000) (4,173,000) (3,699,000)
Collection of notes and advances receivable 4,481,000 4,173,000 3,704,000
Prepaid expenses and other current assets (32,000) (278,000) 3,588,000
Accounts payable (50,000) 8,826,000 (544,000)
Accounts payable, related party (91,000) 10,000 476,000
Accrued compensation 38,000 (798,000) 2,701,000
Other accrued liabilities 3,211,000 (2,486,000) 3,434,000
Deferred revenue 6,000 1,086,000 (2,495,000)
Net cash provided by operating activities 21,045,000 21,230,000 22,181,000
Cash flows from investing activities:      
Purchases of property and equipment (14,886,000) (8,877,000) (5,371,000)
Acquisition of GreenLine (Note 2)     (66,826,000)
Purchase of marketable securities (1,417,000) (4,959,000) (30,723,000)
Proceeds from maturities of marketable securities 0 0  
Proceeds from sales of marketable securities 0 0  
Net cash used in investing activities (13,341,000) (10,422,000) (44,073,000)
Cash flows from financing activities:      
Repurchase of outstanding common stock     (5,006,000)
Proceeds from sale of common stock 2,298,000 3,416,000 61,000
Taxes paid by Company for stock swaps and RSUs (1,271,000) (49,000) (260,000)
Tax benefit from stock-based compensation expense 1,922,000 1,302,000 4,057,000
Earn out payment from Lifecore acquisition   (9,650,000)  
Net change in other assets/liabilities 31,000 712,000 (1,813,000)
Proceeds from long term debt     31,816,000
Proceeds from lines of credit 9,500,000   12,766,000
Payments on long term debt (5,933,000) (7,012,000) (4,329,000)
Payments on lines of credit (13,500,000) (7,666,000) (1,100,000)
Payments to non-controlling interest. (226,000) (320,000) (258,000)
Net cash (used in) provided by financing activities (7,179,000) (19,267,000) 35,934,000
Net increase (decrease) in cash and cash equivalents 525,000 (8,459,000) 14,042,000
Cash and cash equivalents at beginning of year 13,718,000 22,177,000 8,135,000
Cash and cash equivalents at end of year 14,243,000 13,718,000 22,177,000
Supplemental disclosure of cash flows information:      
Cash paid during the period for interest 1,504,000 1,728,000 952,000
Cash paid during the period for income taxes, net of refunds received 50,000 5,605,000 246,000
Marketable Maturities [Member]
     
Cash flows from investing activities:      
Proceeds from maturities of marketable securities 2,962,000 3,414,000 31,104,000
Proceeds from sales of marketable securities 2,962,000 3,414,000 31,104,000
Marketable Sales [Member]
     
Cash flows from investing activities:      
Proceeds from maturities of marketable securities     27,743,000
Proceeds from sales of marketable securities     27,743,000
Earnout [Member]
     
Adjustments to reconcile net income to net cash provided by operating activities:      
Earn out liability   $ (3,933,000)