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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Feb. 25, 2023
Feb. 26, 2022
Feb. 25, 2023
Feb. 26, 2022
Operating activities:        
Net income $ 6,340 $ 2,887 $ 18,213 $ 9,644
Adjustments to reconcile net income to cash used in operating activities:        
Depreciation and amortization 912 872 2,688 2,560
Inventory provisions 115 88 310 228
Share-based compensation expense 206 142 730 514
Loss (gain) on disposal of assets 13 0 (12) 2
Deferred income taxes (1) 26 27 38
Change in assets and liabilities:        
Accounts receivable (7,189) (4,209) (12,694) (7,355)
Inventories (3,638) (3,113) (21,764) (12,295)
Prepaid expenses and other assets (153) (2) (578) (1,058)
Accounts payable (12) 1,902 784 4,204
Accrued liabilities (661) 563 486 2,075
Other (192) (370) 397 (13)
Net cash used in operating activities (4,260) (1,214) (11,413) (1,456)
Investing activities:        
Capital expenditures (2,230) (554) (4,973) (2,161)
Proceeds from maturity of investments 5,000 0 5,000 0
Proceeds from sale of assets 0 0 193 0
Net cash provided by (used in) investing activities 2,770 (554) 220 (2,161)
Financing activities:        
Proceeds from issuance of common stock 511 1,906 3,413 2,630
Cash dividends paid (834) (806) (2,484) (2,384)
Other 0 (45) (69) (136)
Net cash (used in) provided by financing activities (323) 1,055 860 110
Effect of exchange rate changes on cash and cash equivalents 352 195 (517) (662)
Decrease in cash and cash equivalents (1,461) (518) (10,850) (4,169)
Cash and cash equivalents at beginning of period 26,106 39,665 35,495 43,316
Cash and cash equivalents at end of period $ 24,645 $ 39,147 $ 24,645 $ 39,147