XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 27, 2014
Jun. 28, 2013
Cash flows from operating activities:    
Net income $ 1,429,000 $ 4,888,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation expense 1,219,000 960,000
Amortization expense 1,147,000 301,000
Amortization of debt issuance costs 46,000 48,000
Restructuring costs 3,604,000  
Provision (reversal) for doubtful accounts 526,000 (9,000)
Loss on foreign currency translation 109,000 32,000
Non-cash stock compensation expense 2,744,000 3,167,000
Changes in assets and liabilities, net of acquisition:    
(Increase) decrease in accounts receivable and unbilled revenue (8,806,000) 1,278,000
(Increase) decrease in prepaid expenses and other current and non-current assets (682,000) 1,783,000
Decrease in accounts payable (3,060,000) (2,635,000)
Decrease in accrued expenses and other liabilities (5,653,000) (4,640,000)
Net cash (used in) provided by operating activities (7,377,000) 5,173,000
Cash flows from investing activities:    
Purchases of property and equipment (980,000) (1,221,000)
Cash consideration paid for acquisition (2,700,000)  
Cash acquired in acquisition of business 522,000  
(Increase) decrease in restricted cash (300,000) 162,000
Net cash used in investing activities (3,458,000) (1,059,000)
Cash flows from financing activities:    
Proceeds from borrowings 10,500,000  
Repayment of borrowings (37,000) (9,974,000)
Proceeds from issuance of common stock 279,000 358,000
Repurchases of common stock (7,324,000) (594,000)
Net cash provided by (used in) financing activities 3,418,000 (10,210,000)
Effect of exchange rate on cash 23,000 1,000
Net decrease in cash and cash equivalents (7,394,000) (6,095,000)
Cash and cash equivalents at beginning of year 18,199,000 16,906,000
Cash and cash equivalents at end of period 10,805,000 10,811,000
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 686,000 449,000
Cash paid for interest $ 247,000 $ 218,000
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued to sellers of acquired business 1,000,000