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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Nov. 27, 2016
Nov. 29, 2015
[1]
Cash flows from operating activities:    
Consolidated net income $ 4,719,000 $ 4,916,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,110,000 4,339,000
Stock-based compensation expense 1,773,000 1,697,000
Deferred taxes 2,317,000 1,167,000
Loss on early debt extinguishment 1,233,000
Change in investment in non-public company, fair value (1,000,000)
Net loss on disposal of property and equipment 57,000
Changes in current assets and current liabilities:    
Accounts receivable, net (3,603,000) (3,804,000)
Inventories, net (2,435,000) (3,832,000)
Prepaid expenses and other current assets 666,000 (2,464,000)
Accounts payable (4,990,000) 1,912,000
Accrued compensation 236,000 (1,359,000)
Other accrued liabilities 802,000 1,172,000
Deferred revenue, net (358,000) (462,000)
Net cash provided by operating activities 5,527,000 2,282,000
Cash flows from investing activities:    
Purchases of property and equipment (4,738,000) (15,203,000)
Deposit on capital lease (850,000)
Proceeds from sales of fixed assets 14,000 91,000
Net cash used in investing activities (4,724,000) (15,962,000)
Cash flows from financing activities:    
Proceeds from sale of common stock 193,000 108,000
Taxes paid by Company for stock swaps and RSUs (272,000)
Proceeds from long-term debt 50,000,000 9,972,000
Payments on long-term debt (54,697,000) (4,278,000)
Proceeds from lines of credit 1,500,000 10,500,000
Payments on line of credit (3,500,000) (10,500,000)
Payments for debt issuance costs (897,000)
Payments for early debt extinguishment penalties (233,000)
Change in other assets (59,000) (26,000)
Payments to non-controlling interest (166,000) (248,000)
Net cash provided by (used in) financing activities (8,131,000) 5,528,000
Net decrease in cash and cash equivalents (7,328,000) (8,152,000)
Cash and cash equivalents at beginning of period 9,894,000 [2] 14,127,000
Cash and cash equivalents at end of period $ 2,566,000 $ 5,975,000
[1] See Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies for a discussion of accounting principles adopted during the period.
[2] Derived from audited financial statements. See Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies for discussion of accounting guidance adopted during the period.