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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 28, 2020
Jun. 30, 2019
Jul. 01, 2018
Operating activities:      
Net income $ 58,998 $ 34,766 $ 40,791
Reconciliation of net income to net cash provided by operating activities net of dispositions:      
Depreciation and amortization 32,513 29,965 32,469
Amortization of deferred financing costs 646 969 953
Deferred income taxes (266) 2,698 (7,668)
Bad debt expense 4,143 1,383 1,068
Stock-based compensation 8,434 6,310 3,726
Other non-cash items 1,032 (16) 565
Changes in operating items:      
Trade receivables (6,947) (822) 70
Inventories (4,371) (3,536) (12,963)
Prepaid and other (726) (2,313) (6,286)
Accounts payable and accrued expenses 44,359 8,846 5,249
Other assets and other liabilities 1,602 (150) 367
Net cash provided by operating activities 139,417 78,100 58,341
Investing activities:      
Capital expenditures, net of non-cash expenditures (34,703) (32,560) (33,306)
Acquisitions, net of cash acquired (20,500)
Working capital adjustment related to sale of Fannie May (8,500)
Purchase of equity investments (1,176)
Net cash used in investing activities (56,379) (32,560) (41,806)
Financing activities:      
Acquisition of treasury stock (10,680) (14,766) (12,176)
Proceeds from exercise of employee stock options 285 1,236 337
Proceeds from bank borrowings 20,000 32,250 30,000
Repayment of notes payable and bank borrowings (25,000) (37,187) (37,188)
Debt issuance costs (60) (1,390)
Net cash used in financing activities (15,455) (19,857) (19,027)
Net change in cash and cash equivalents 67,583 25,683 (2,492)
Cash and cash equivalents:      
Beginning of year 172,923 147,240 149,732
End of year $ 240,506 $ 172,923 $ 147,240